Admiralty Holding (fka ADMH)

[camalion]

LGAL 8K,. Herbert C. Leeming has been the President and a director of World Explorer since June 14, 2004. Mr. Leeming was previously a co-founder of Admiralty Corporation ("Admiralty"), a Georgia corporation and wholly-owned subsidiary of Ruby Mining Company, a public corporation quoted on the OTC Bulletin Board under the symbol RUBM.OB. Admiralty was formed to develop proprietary, non-ferrous metal detection technology to be incorporated into a specialized, remote-sensing detection device capable of locating and differentiating among precious metals buried in coral or under the ocean floor, to be used in historic shipwreck and recovery operations. Mr. Leeming also previously served as Admiralty's Chairman of the Board and as its Chief Executive Officer and President. Prior to 1988, Mr. Leeming was active in oil and gas exploration and production, energy management, real estate acquisition and financing.

Kurt Bordian has been the Chief Financial Officer and a director of the Company since November 22, 2004. Mr. Bordian graduated from the University of Manitoba in 1996 with a Bachelor of Commerce (Honors) Degree. He has worked chiefly in the mineral exploration and oil and gas industries, and since 2000 has held the position of Senior Accountant with three public companies exploring and operating in the Solomon Island, Ghana, Tunisia and Western Canada. Mr. Bordian most recently held the position of Operations Manager for a mineral exploration company, liaising with exploration projects in Western Canada.

Rene Guardiola has been a director of the Company since April 26, 2005. Mr. Guardiola is a native of Panama. He has been self-employed for the last 10 years as an independent consultant in Maritime affairs, with expertise in Central and South American salvage negotiations. He has assisted in the successful conclusion of agreements between the Maritime officials of the Governments of Panama, Costa Rica, Mexico, and Brazil and both individual and corporate salvers. From 1994 to 1998 he was also general manager of a privately owned salvage company in Costa Rica.