Team New Zealand remain unbeaten after scoring another two wins on the second day of a pre-America's Cup yachting regatta in Valencia, Spain, today.

NZL 84 sailed to a 1 minute 29 second victory over France's Areva Challenge, whose FRA 60 was the New Zealanders' America's Cup-winning yacht and from 2000.

In round four, New Zealand's Dean Barker and his crew were untroubled in despatching Sweden's Victory Challenge, winning by 1min 39sec.

Team NZ are in a three-way tie for first place, on four points with Switzerland's Alinghi and American boat Oracle.

Team New Zealand continued its policy of rotating crew with navigator Kevin Hall returning to the afterguard and trimmers Grant Loretz and James Dagg and grinders Chris Ward and Rob Waddell sailing for the first time in Act 10.

It was a tricky day for tactician Terry Hutchinson. "The breeze was shifty and difficult." he said. "In the first race we made a couple of good decisions early on which set us up and we were not troubled."

"The Swedes were definitely more competitive but we got a couple of good shifts and managed to stretch out."

The French boat - FRA 60 - is the Team New Zealand yacht that successfully defended the America's Cup in 2000. But there was no nostalgia evident on board NZL 84 which took control from the start and went about building a lead and maintaining it.

While maintaining a loose cover on the French boat, NZL 84 extended the lead to around 350 metres and at the first windward mark was 52 seconds ahead.

NZL 84 maintained a comfortable advantage down the first run rounding the leeward mark 1 min 11sec ahead. NZL 84 extended on the second beat and at the mark was 2min 2 sec ahead, setting up for an untroubled win with a final delta of 1min 29 sec.

The second race of the afternoon was against Sweden's Victory Challenge (SWE 63). Fresh from a win against the South Africans in flight three, Sweden did not seriously challenge NZL 84.

As the Swedes rounded the first windward mark, NZL 84 was 250 metres into the first run, a lead which translated to 33 sec. They maintained the lead to the end of the second mark. On the second beat they got a nice shift and extended to 1 min 30 sec and 1min 39 sec at the finish.

Grant Dalton said he was pleased with the new yacht's performance in the light breezes experienced so far. "The big test will come against the new boats of BMW Oracle and Luna Rossa.

"Those matches will be really hard racing and split seconds gained in slick crew work will be absolutely critical for a good result, said Dalton.

"We like the feel of NZL 84 but we're not taking anything for granted. And we still think that Alinghi in an old boat can be very dangerous. We also have to sail against Spain and they're having a good regatta."

Act X results:

3rd rd

BMW Oracle Racing bt United Internet Team Germany 2:10

Victory Challenge (SWE) bt Team Shosholoza (RSA) 2:19

Emirates Team New Zealand (NZL) bt Areva Challenge (FRA) 1:29

Luna Rossa Challenge (ITA) bt +39 Challenge (ITA) 1:08

Desafio Espagnol (ESP) bt China Team (CHN) abandoned

Alinghi (SUI) bt Mascalzone Latino (ITA) 0:08

4th rd

Emirates Team New Zealand (NZL) bt Victory Challenge (SWE) 1:39

United Internet Team Germany (GER) bt Team Shosholoza (RSA) 0:21

BMW Oracle Racing (USA) bt Areva Challenge (FRA) 1:09

Alinghi (SUI) bt +39 Challenge (ITA) 1:16

Mascalzone Latino (ITA) bt China Team (CHN) 2:05

Desafio Espagnol (ESP) bt Luna Rossa Challenge (ITA) 0:34

Standings (after four rounds)

1. Alinghi (SUI) 4pts, BMW Oracle Racing (USA) 4pts, Emirates Team New Zealand (NZL) 4pts, 4. Desafio Espanol (ESP) 3pts, 5. Luna Rossa Challenge (ITA) 3pts, 6. Victory Challenge (SWE) 2pts, . Mascalzone Latino (ITA) 2pts, 8. Areva Challenge (FRA) 1pt, 9. United Internet Team Germany (GER) 1pt, 10. China Team (CHN) 0pt, +39 Challenge (ITA) 0pt, Team Shosholoza (RSA) 0pt