Police have rescued a man in Lake Burrumbeet almost an hour and a half after the boat he was in capsized this morning.
He has been taken to the Ballarat Health Services Base Hospital by ambulance.
Authorities say the catamaran overturned at 10.20am.
The man's girlfriend, who was also on the boat when it capsized, arrived safely back on shore earlier this morning.
She had been using a mobile phone to talk with emergency services before being rescued.
The boat has drifted near the western shore of Lake Burrumbeet.
The police helicopter had spotted a jacket in the water and directing rescuers towards that location.
Local police joined the SES, Water Police and the Air Wing for the search.
See tomorrow's edition of The Courier for the full story.