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Legal Access Technologies, Inc. Enters into Joint Venture with RMS Titanic, Inc. Friday January 20, 5:32 am ET
ATLANTA--(BUSINESS WIRE)--Jan. 20, 2006--Legal Access Technologies, Inc. (OTCBB: LGAL - News), whose name is currently being changed to UnderSea Recovery Corporation (UnderSea), announced today that it has entered into joint venture agreement with RMS Titanic, Inc. a wholly owned subsidiary of Premier Exhibitions Inc.(OTCBB: PXHB - News), to conduct research and recovery expeditions to the RMS Carpathia. The joint salvage efforts are scheduled to start later in 2006. ADVERTISEMENT
Herbert Leeming, President and CEO of Legal stated, "Our Company is honored to be partnering with a Company that has pioneered deep water salvages, through their historic dives to the RMS Titanic. The RMS Carpathia is an important piece of the United Kingdom's history, and to be able to provide a glimpse into the heroic adventures of this ship through this salvage and exhibition development project, will provide a great educational opportunity for people, as well as some well deserved recognition, regarding the historical importance of the ship and crew that saved over seven hundred survivors, when the RMS Titanic tragically sank."
Arnie Geller, President and CEO of Premier stated, "We are pleased to have an expert partner that can help our Titanic Division monetize this asset that has been held by the Company for some time. The RMS Carpathia has material historic value as the actual rescue ship from the sinking of the RMS Titanic, as well as the ship's service in World War I. The RMS Carpathia was sunk by a German u-boat in 1918." Mr. Geller added, "We believe there is value in salvaging the many important artifacts available from this historic vessel for both exhibitions as well as for sale to museums and maritime collectors."
About UnderSea
UnderSea has identified a number of shipwrecks, in Europe, Central and South America, and Southeast Asia. Currently UnderSea is reviewing project research, as well as pursuing four foreign government search and recovery agreements for these sites. Additionally the Company is developing its proprietary location and recovery technologies.
Forward-Looking Statements Caution:
This release contains "forward-looking statements," Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, estimates, and projections that involve a number of risk and uncertainties (some of which are described in the Company's Annual Report for 2004 on Form 10-KSB filed with the SEC) which could cause actual results or events to differ materially from those anticipated. Legal Access Technologies, Inc. does not undertake to update any of its forward-looking statements that may be made from time to time.
Contact: Legal Access Technologies, Inc. Herbert Leeming, 404-368-8500 leeming*unsr.com www.unsr.com or European Investor Relations: IR-Unternehmensberatungs GmbH Herbert Strauss, +43 316 296 316 herbert*eu-ir.com
-------------------------------------------------------------------------------- Source: Legal Access Technologies, Inc.
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