EXHIBIT 99.1

Contact:    Gregory Haidemenos                   FOR IMMEDIATE RELEASE
            Westerbeke Corporation
            (508) 823-7677


              WESTERBEKE RECEIVES PAYMENT OF ARBITRATION AWARD

      Taunton, Massachusetts, October 24, 2002: Westerbeke Corporation
(NASDAQ: WTBK) announced today that the Company has received payment of the
damages awarded to the Company in its arbitration against Daihatsu Motor
Company, Ltd. As a result, the Company will record other income of
approximately $2.6 million (which amount is net of income taxes and
expenses associated with the arbitration award) during its fiscal year
ended October 25, 2002.

      Westerbeke Corporation designs, manufactures and markets marine
engine and air conditioning products intended principally for recreational
marine applications.






454520.1
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454520.1
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