MarineMax Secures New Financing Facility


~Adds $30 Million Inventory Financing Facility With CGI Finance~
CLEARWATER, FL – October 8, 2010 – MarineMax, Inc. (NYSE:HZO), the nation’s largest recreational boat retailer, announced today that it has expanded its relationship with CGI Finance (CGI), by securing a new $30 million inventory financing facility. Previously, MarineMax’s relationship with CGI was focused on retail financing of boats. The new facility provides for up to $30 million of floor plan financing, in addition to the $100 million inventory financing facility secured by the Company in June 2010 with another lender. The facility is designed to provide financing for MarineMax’s Azimut inventory needs. The facility has a one-year term, which is typical in the industry for similar floor plan facilities. Furthermore, the facility also includes renewal options, subject to CGI’s approval, and each advance under the facility can remain outstanding for eighteen months. Interest under the facility accrues at a rate of LIBOR plus 350 basis points.

The Company’s new and used Azimut inventory that is financed by the facility is pledged as collateral. MarineMax’s real estate is not a pledged asset under the terms of the facility. The Company must maintain compliance with various covenants, including balance sheet related covenants of current and leverage ratios, as defined in the facility. The facility contemplates that other lenders may be added by the Company to finance inventory not financed under this facility, if needed. Michael H. McLamb, Executive Vice President, Chief Financial Officer and Secretary of MarineMax stated, “We are pleased to be able to expand our relationship with CGI through this inventory financing facility for our Azimut products. The terms of the facility serve our needs and allow us to operate our business with the flexibility required in this environment. We also believe that by expanding our relationship with an international bank, we will be better positioned to serve the needs of our growing list of international buyers.” “We are excited to strengthen this strategic relationship between MarineMax and CGI. When I look at all of the marine dealerships throughout the world, there is no comparison to the company that MarineMax’s executive leadership and shareholders have built. We enjoy working with their team due to their professionalism and expertise in the marine industry.” said Hervé Bonnet Global Director of the Boat Financing Activity for CGI Group.

About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Cabo, Hatteras, Azimut Yachts and Grady White, MarineMax sells new and used recreational boats and related marine products and provides yacht brokerage services. MarineMax currently has 56 retail locations and operates within Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Kansas,Maryland, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, Tennessee and Texas. MarineMax is a New York Stock Exchange-listed company.

About CGI Finance
CGI Finance is the North American Subsidiary of the CGI Group, a financial establishment founded in 1951, and is a wholly-owned subsidiary of Société Générale. Société Générale is a leading worldwide bank with 157,000 employees. The North American headquarters is located at 1407 Fleet Street, 2nd Floor Baltimore Maryland 21231 USA.

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of1995. Such forward-looking statements include the level by which the financing facility will serve the Company’s needs; the ability of the financing facility to allow the Company to operate its business with flexibility; and the ability of the expanded relationship with CGI to serve the needs of the Company’s international customers. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to reduce inventory and accomplish the Company’s goals and strategies, general economic conditions and the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations and numerous other factors identified in the Company’s Form 10-K and other filings with the Securities and Exchange Commission.

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