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Man dies, two people rescued after boat capsizes in Cronulla

A man has died and two people were rescued after a boat capsized in Sydney's south on Wednesday morning.

Emergency services were called about 9.40am to reports the boat had capsized at Bate Bay in Cronulla, and a huge search and rescue operation was launched with police, surf lifesavers, and the PolAir and Westpac Life Saver Rescue helicopters.

A man and a woman were found in the water safe and well, both wearing lifejackets, Westpac Life Saver Rescue Helicopter chief executive Stephen Leahy said.

They were treated for minor injuries and did not need to be taken to hospital.

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Mr Leahy said the second man, aged in his 40s, was pulled onto nearby rocks by witnesses, who started performing CPR.

A rescue crew officer was winched down from the Westpac helicopter and took over CPR, shortly before paramedics arrived.

"Despite everyone’s best efforts, this man couldn't be saved," Mr Leahy said.

He said it was not clear whether the man had been wearing a lifejacket or not when the boat capsized.

"When he was found, he wasn’t wearing a lifejacket, but there was a lifejacket in the water, so it's not clear what happened," Mr Leahy said.

Mr Leahy said the fact two people escaped without major injury was a "clear example" that lifejackets saved lives.

"Certainly this is a tragedy, but it shows that life jackets save people’s lives," he said.

The boat was recovered and police were examining it forensically.

A report on the man's death will be prepared for the coroner.

Police would like anyone with information to contact Crime Stoppers.