Seahawk Deep Ocean Technology completes manned submarine dive on shipwreck.

TAMPA, FL--(BUSINESS WIRE)--Oct. 25, 1996--Seahawk Deep Ocean Technology, Inc. (OTC Bulletin Board: SDOT), the Tampa-based oceanographic company that specializes in the search and recovery of deep water shipwrecks, announced today that it has completed a manned submersible dive in an attempt to identify the shipwreck that it arrested in December 1995 on behalf of Eagle Partners Limited, a Florida limited partnership of which Seahawk is the General Panner. Seahawk is contracted to Eagle Miners Limited, a joint venture between Eagle Partners and Baltimore-based Eagle Miners, Inc. to search for a shipwreck, code named "Golden Eagle", which sank in the Atlantic Ocean over 100 years ago. Researchers for the project, E. Lee Spence of Charleston and Alan Riebe of Baltimore, have uncovered evidence that the Golden Eagle was lost while carrying a cargo of gold specie.

Seahawk operated the "Clelia" submersible from the Harbor Branch Oceanographic Institute's 168-foot vessel, the "Edwin Link". Based on Seahawk's navigation, the wreck was found using the ship's echo sounder within minutes of arriving at the location.

Throughout the time at location the visibility was extremely poor. The pilot and observers could see no further than a few feet so it was not possible to make a positive identification of the wreck as being the Golden Eagle before heavy seas and the imminence of a tropical storm curtailed the operation. Seahawk will study the submersible's video tapes for clues to the origins of the shipwreck. Seahawk has obtained excellent sonar images that give a strong indication that the wreck is of the same shape and dimensions as the Golden Eagle. A picture of one of the sonar images can be seen on Seahawk's web site (http://codexes.com/SDOT).

John Balch, Seahawk's Chief Operating Officer, said, "Harbor Branch is a very professional group and they were just as frustrated as we were about the visibility and weather out there. The good news is that this was a no-cure, no-pay job so we can afford to get back on the water when the vessel and sub are available again in a couple of weeks."

Seahawk has provisionally arranged to re-visit the shipwreck after the second week of November. The plan is to utilize a Harbor Branch vessel again with both a manned submersible and a ROV (remotely operated vehicle) on board.

Seahawk has searched for and found a number of shipwrecks since it was founded in 1989. In addition to its work on the Golden Eagle project, the Company is currently a member of a consortium in South America which is searching for a valuable shipwreck in waters off Brazil and is seeking a permit to search the waters off an island in the Azores which, according to the Company's research, contain a quantity of ancient and colonial shipwrecks.

CONTACT: SEAHAWK DEEP OCEAN TECHNOLOGY, INC.

John Lawrence, CEO 

[phone]

or

Porter, Le Vay & Rose, Inc.

L.B. Stauffer

[phone]