At the occasion of the inauguration of a new superstore in Valencia this week, the President of the Spanish group "El Corte Inglés" Isidoro Álvarez announced that his company is joining the 32nd America's Cup as an official partner.

ECI is one of the largest mixed retail groups in Europe and is by far the biggest in Spain.The Group is regarded as a Spanish institution hat ranks as the third largest company in the country.

The Group controls almost 90% of the Spanish large mixed retail market and posted sales of €13 billion for fiscal year ended February 2003, an increase of 9.4% over the previous year.

El Corte Inglés SA Department Stores is the Group's flagship and core business. The store started off as a small tailor's shop in Madrid in the 1920s, and now has 60 stores throughout Spain offering fashion and accessories, household products, sport goods and leisure and culture goods and services.

El Corte Inglés joins the two official partners Endesa and Grupo Santander and the principal partner Louis Vuitton in supporting the 32nd America's Cup.