EXHIBIT 99



FOR RELEASE:  IMMEDIATELY

CONTACT:  Carol Price
Fountain Powerboat Industries, Inc.
(252) 975-2000

FOUNTAIN POWERBOAT INDUSTRIES, INC. NAMES NEW CFO

WASHINGTON,  NORTH  CAROLINA,  March 6, 2003,  Mr.  R.  M.  Fountain  Jr.,
Chairman  and  Chief  Executive Officer of Fountain Powerboat  Industries,
Inc. (NASDAQ: FPWR), producer of high performance sport boats, fish boats,
and  express  cruisers, accepted the resignation of Hannah  Hale  as  CFO.
Hale decided not to return from maternity leave.    Fountain has appointed
Irving L. Smith as the new Chief Financial Officer.

Smith  has  worked  with Fountain Powerboats as a consultant  and  present
employee  for  a total of 13 years and has over 40 years of experience  in
Computer and Business Management.  Before his promotion he served  as  the
Director  of  Information Technology and will continue in  this  capacity.
Smith is a CPIM and attended the University of Virginia where he completed
Management  Accounting  and  Control Systems specialized  courses  at  The
Colgate Darden Graduate School of Business Administration.  Smith's career
began  at  Burlington Industries, Inc. in Clarksville, Virginia  where  he
developed  initial  manufacturing business systems for  the  division  and
consolidated  information  systems  of  two  merging  divisions   of   the
corporation.  Smith's career in the textile industry includes Director  of
the  Corporate Data Center for United Merchants & Manufacturers,  Inc.  in
New  York,  NY,  Director of Information Systems at  Crompton  Company  in
Waynesboro, VA and Director of Information Technology at National Spinning
in Washington, NC.

In  1994  Smith  formed  an  information systems and  business  management
consulting  business,  ISA  Group, Inc. with emphasis  on  supporting  the
marine  manufacturing  industry.   Smith  has  developed  and  implemented
accounting systems, procedures, and policies for marine businesses to meet
their  individual business needs.  His consulting business  also  includes
companies    in    communications,   distribution,    textiles,    vehicle
manufacturers,  telemarketing companies, and  pharmaceutical  and  medical
devices manufacturers.

Smith serves with five other members of a top management team designed  to
lead the company under the direction of R. M. Fountain, Jr.