PUMA (Ken Read/USA) dominated the first race in an impressive display of solid sailing and race tactics, leading the fleet from start to finish and holding Ericsson 4 (Torben Grael/BRA) at bay. Telefónica Blue (Bouwe Bekking/NED) and Green Dragon (Ian Walker/GBR) showed good form and fought throughout the short windward/leeward course for third place, the finishing order only being decided on the final run when Telefónica Blue edged ahead. Ericsson 3, skippered by Magnus Olsson/SWE, who has stepped up to take charge of the boat while regular skipper Anders Lewander/SWE recovers from knee surgery, finished fifth.
In race two, the first four finishers in the first race opted for the right hand side of the course, while the bottom three headed for the shore immediately after the start. The offshore side of the track clearly had more pressure as Ericsson 4 and Telefónica Blue led the fleet to the windward mark. Green Dragon came in to the mark on port and tacked just inside PUMA to round fourth, with Telefónica Black approaching quickly from the left hand side of the course. Ericsson 4 fought to hold off Telefónica Black, and finished the race in pole position. Telefónica Black was second, and third was Telefónica Blue in a photo finish. PUMA finished ahead of Green Dragon in fourth, Ericsson 3 was sixth, and Delta Lloyd, still struggling due to lack of practise on the water due to work being carried out on her keel, was seventh.