Here is the media release from Maritime NZ, pasted from their website:

2 August 2010

Two men have been rescued by a cargo ship after their yacht capsized in
stormy seas near Niue yesterday, the Rescue Coordination Centre New
Zealand (RCCNZ) says.

RCCNZ detected an emergency locator beacon signal from the
American-flagged 57-foot (around 17 metres) catamaran Anna yesterday
about 4pm.

The signal was coming from a location around 126 nautical miles (around
233 kilometres) west of Niue. Local weather reports indicated heavy seas
and storm conditions.
Repeated efforts to contact the yacht were unsuccessful, despite Anna
having a range of communications equipment on board.

RCCNZ dispatched an Air Force P3 Orion from New Zealand and the cargo
ship Forum Pacific, 80 nautical miles away from Anna, was asked to
divert to the signal's location.

The P3 Orion arrived on scene about 11pm yesterday and found Anna
capsized and inverted. However, the American skipper and his New Zealand
crewman were safe, one still on board Anna, and one in an inflatable
dinghy attached to the catamaran.

The P3 Orion maintained a vigil over the men overnight while Forum
Pacific made its way to the scene.

RCCNZ Search and Rescue mission controller Mike Roberts said the cargo
ship arrived about 6am and the two men were now safe on board and en
route to Niue.

RCCNZ had broadcast a navigation warning to other vessels advising of
the location of the capsized catamaran.

Mr Roberts said the fact the beacon was GPS-enabled had greatly assisted
the men's rescue.
"With GPS positioning, we were able to accurately pinpoint the location
of the vessel and send the Orion directly to the scene. Given the stormy
conditions, the speed that we were able to reach the men made a huge
difference to their safety.

"Furthermore, the fact the beacon was registered meant we were able to
contact the skipper's wife and obtain information as to who was on board
and what kind of equipment they had with them."