Ocean Resources Inc (fka OCRI)

[lifegear]

Ocean Resources, Inc. Dispels Rumors of Sale, Dividend

Monday , May 09, 2005 13:57ET

DALLAS, May 09, 2005 (BUSINESS WIRE) --Ocean Resources, Inc. (OTCBB:OCRI) management today stated that there are no plans to sell the Company, nor issue a dividend, contrary to information that has appeared in some media outlets.

Ocean Resources, Inc. is a maritime salvage operator employing proprietary and sea recovery expertise to retrieve commodity metals from World Wars I and II merchant shipwrecks lying at previously unreachable depths. The company's ROGE (Remotely Operated Grab Excavator), a hydraulically operated multi-jaw grab, is among the world's most advanced deep sea excavating devices, capable of seizing up to three tons of material in a single grab and operating at depths of up to 16,000 feet, nearly double that of any competitive device. Ocean Resources' recovery operations are directed by Graham Jessop, an internationally accomplished deep sea salvage expert who participated in recoveries from the RMS Titanic, RMS Carpathia, S.S. John Barry and HMS Edinburgh. For further information, visit www.oceanri.com

This press release may contain "forward-looking statements." All statements, other than statements of fact, included in this release and without limitation statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, prices and other technical and economic factors.

SOURCE: Ocean Resources, Inc.

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