A man has died in Dutton Way, Bolwarra this evening, Victoria Police say.
The 61-year-old man and three friends were on a boat when it became capsized about 12pm.
Three of the men were rescued by Coast Guard and are currently in a stable condition in hospital.
Police divers located the body of the fourth man about 5pm.
He was unable to be revived.
Police will prepare a report for the Coroner.
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