After a two-hour hearing, the International Jury dismissed the protest entered by the Inglis 39 She's the Culprit (Todd Leary), the Hobart yacht damaged in a crush of boats approaching the first rounding mark after the race start on Sydney Harbour.

Two True, one of the first new Farr-designed Beneteau First 40 stock production racer/cruiser to be imported into Australia, won IRC overall by 42 minutes from another new First 40, (Mike Welsh) after a close race-long duel in which they followed a similar strategy - stay well east of the rhumbline.

Ian Mason's Sydney 38 Next, in third place, another 1hr 19min behind, was similarly pushed by close competition in the six-boat Sydney 38 fleet racing one-design, as well as on IRC handicap. Another Sydney 38, Swish (Steven Proud) from the strong Sydney fleet, was fourth and Tony Kirby's Jeppersen X-41 Patrice Six, fifth.

In sixth place was the 2009 Rolex Fastnet Race winner Ran (Niklas Zennstrom), from the UK.

Two True, from the Cruising Yacht Club of South Australia, is the first yacht from South Australia to win the Tattersall's Cup since Kevan Pearce's win with SAP Ausmaid in 2000. The South Australians continue to be strongly committed to the Rolex Sydney Hobart Race, sailing 1000 nautical miles just to get to the start.

Owner-skipper Saies said he was absolutely elated at the win after being in the surreal situation of not knowing the outcome until after the protest hearing. “Obviously we are very happy with the jury's decision. We believe we did everything in the circumstances to avoid significant damage to the other boat. We gave our intention to protest, we did a 720 (degree penalty turn), though the damage to the other boat was minor and superficial.”

“I respect the decision of the skipper of She's the Culprit not to continue racing in those circumstances, but obviously we are very happy and delighted with the outcome.”

He thanked his crew, which raced the two prior Sydney Hobart Races on his previous boat True North, a Beneteau First 40. “The Rolex Sydney Hobart Yacht Race cannot be won without a great team, a great boat and an ounce of Sydney Hobart luck. Our team are fabulous guys. We have worked together for the past three years on my previous boat True North.” Saies particularly thanked Brett Young, his team and boat manager. “Energetic, tireless work ethic, great understanding of the rules.”

He said the race was a physical endurance event over 628 miles. “The wind was in, the wind was out, we drifted, we went backwards, we lost internet access, we didn't know what was going on until the last few minutes. It was a classic Rolex Sydney Hobart event and we were in it up to our back teeth and it came our way in the end.

“Great boat, this new Beneteau it just jumps out of the water, jumped a bit too hard in the last day or so in those big short waves. It's a fast boat, we had belief that this boat was going to rate well and do okay in this event, if the weather conditions allowed a small boat event.

“We may be privileged enough to have a boat and a team that gets to this position as people have in the past. But in yacht racing to have everything going right in one event at the right time is probably a once-in-a-lifetime opportunity.

“So it meant so much to get this right this time. So celebrations, back to normal, business as usual, great boat, great team looking forward to the next regatta in Melbourne, the next Sydney Hobart.”

The last boat to finish, Chris Dawe's Polaris of Belmont (AUS/NSW) was due to cross the finish line at 0830pm tonight.

The 100-boat fleet that started the 65th Rolex Sydney Hobart had crews representing the USA, UK, New Zealand, Spain, the Netherlands, and New Caledonia, as well as every Australian state.

Results:
IRC overall: 1, Two True (Andy Saies, SA), Beneteau First 40, corrected time 04 days 07hr 57min 43sec; 2, Wicked (Mike Welsh, Vic), Beneteau First 40, 04:08:39:08; 3, Next (Ian Mason, NSW), MBD Sydney 38, 04:09:48:54.

IRC 0: 1, Alfa Romeo (Neville Crichton, NZ), Reichel Pugh 100, corrected time 04 days, 12hr, 11min, 51sec; 2, Evolution Racing (Ray Roberts, NSW), Farr Cookson 50, 04:14:32:46; 3, Ichi Ban (Matt Allen, NSW), Jones Volvo 70, 04:16:27:22.

IRC 1: 1, Ran (Niklas Zennstrom, UK), Judel/Vrolijk 72, 04:10:48:21; 2, Shogun (Rob Hanna, Vic), J/V 52, 04:13:09:50; 3, Ragamuffin (Syd Fischer, NSW), Farr TP52, 04:15:18:43.

IRC 2: 1, Tow Truck (Anthony Paterson, NSW), Ker 11.3, 04:11:16:18; 2, AFR Midnight Rambler (Ed Psaltis/Bob Thomas), modified Farr 40, 04:11:26:24; 3, Chutzpah (Bruce Taylor, Vic), Reichel/Pugh IRC 40, 04:14:06:32.

IRC 3: 1, Next Ian Mason, NSW), 04:09:48:54; 2, Swish (Steven Proud, NSW), 04:10:17:42; 3, Patrice Six (Tony Kirby) Jeppersen X-41, 04:10:24:32.

Sydney 38 One Design: 1, Swish, 04:00:16:54; 2, Next, 04:00:16:59; 3, Subzero Goat (Bruce Foye, NSW), 04:06:37:59.

ORCi (ORC International): 1, Two True (Andrew Saies, SA), Beneteau First 40, 04:07:57:43; 2, Wicked (Mike Welsh, Vic), Beneteau First 40, 04:08:39:08; 3, Zephyr Hamilton Elevators (James Connell/Alex Brandon, NSW), Farr 1020, 04:10:52:17.

Performance handicap:
PHS 1: 1, Wasabi (Bruce McKay, NSW), Sayer 12m, 04:19:02:33; 2, Sailors with disAbilities (David Pescud, NSW), Lyons 54, 04:21:26:15; 3, Mahligai (Murray Owen/Jenny Kings, New Zealand), Sydney 46, 04:21:26:15.

PHS 2: 1, She (Peter Rodgers, NSW), Olsen 40; 2, Flying Fish Arctos (A.Fairclough, NSW), McIntyre 55, 04:13:41:02; 3, Namadgi (Canberra Ocean Racing Club, ACT), Bavaria 44, 04:16:12:30.