"She's absolutely gorgeous ... a genuine beauty!'' And onlookers at Royal Bermuda Yacht Club yesterday afternoon weren't talking about some shapely damsel.

Rather the gathered crowd at Albuoy's Point stood in admiration of the brand new VO 60 yacht, specifically constructed for Bermuda-based company Tyco International by internationally renowned builder Eric Goetz.

The gleaming white craft, trimmed with blue, will fly the Bermuda banner during the Volvo Ocean Race -- formally the Whitbread Round the World Race -- which starts on September 23.

The boat joined the VO Merit Cup, which Team Tyco purchased last April and raced to second place during the 2000 Sydney-Hobart race.

Premier Jennifer Smith was on hand to christen the craft, needing some five attempts before successfully shattering a bottle of champagne against the bow to rapturous cheers and applause.

Also in attendance was Tyco chairman and chief executive officer L.Dennis Kozlowski, project manager and team manager Michael Castania, skipper Kevin Shoebridge and the racing yacht's 11-member crew.

Kozlowski lauded Bermuda's first ever participation in the prestigious regatta as a significant moment in history.

"This is a very exciting milestone,'' said Kozlowski, noting the ultimate goal as that of winning. "Bermuda's entry into the Volvo Round the World Race is a meaningful step for both Bermuda and for Tyco.

"For Bermuda, it is the first ever entry into the Round the World Race. For Tyco this race is an expression of our growth as a global company.

"Tyco is proud today. We are proud to be part of Bermudian history. We are proud to be here at this facility ... and we hope to see you all here in 2002 to celebrate our victory in the Round the World Race.'' Smith likewise hailed Bermuda's entrance and deemed it a most fitting venture, considering the Island's rich naval history.

"Bermudian vessels and Bermuda built vessels have sailed everywhere on the seven seas around the world,'' said Smith. "I can assure you that Team Tyco will not sail a square inch of ocean that has not been sailed by a Bermudian vessel before them.

"I can say that if the boat is as successful as the company has been, there will be a lot of happy people at the Zurich building, and a lot of Bermudians as well.'' Starting from Southampton, England, entrants will cover some 32,250 nautical miles, making stops in South Africa, Australia, New Zealand, Brazil, United States and Sweden, before finishing in Kiel, Germany.

"This is one of the few truly global events on the planet, and for Team Tyco this represents a gruelling challenge,'' added Kozlowski. "For Kevin and his team it is a nine month event that will cover over 32,000 nautical miles where they will face a very severe test of skill, endurance and willpower . .. but these are the types of tests that Tyco has excelled at.'' Having what he considered the best team, a resolute will to win, and solid preparation, the chairman again expounded supreme confidence as to the team's chances.

Including shore support personnel, Team Tyco is made up of 26 internationally acclaimed sailing professionals. Shoebridge, of New Zealand, has previously been a part of two winning teams, and two that finished as runners-up in the Whitbread .

As helmsman during the aforementioned Sydney-Hobart Race, Shoebridge placed second to Germany's Illbruck Challenge , which had Jon Kostecki, an American, as skipper.

From Bermuda the boats will be transported to West Palm Beach to resume preparation for the rest of April, before moving over to Europe for additional training and equipment testing.