RMS Titanic, Inc. to Conduct First Research and Recovery Expedition to the RMS Carpathia Company to Provide Insight into the Most Famous Rescue Ship of All Time



    ATLANTA, Aug. 14 /PRNewswire-FirstCall/ -- RMS Titanic, Inc., a wholly
 owned subsidiary of Premier Exhibitions, Inc. (Nasdaq:   PRXI), today
 announced that it will conduct its first research and recovery expedition
 at the wreck site of the RMS Carpathia.
     Departing from Brest, France on August 16, 2007, the expedition team
 will oversee the archaeological recovery of artifacts from the Carpathia
 along with site documentation and assessment of the overall structural
 integrity of the historic ship.
     RMS Carpathia was built in 1902 for the oceanic passenger trade, and
 provided service primarily between New York City, Queenstown and Liverpool,
 and between New York City and ports of the Mediterranean. On April 15,
 1912, the Carpathia became the most famous rescue ship in the world. After
 receiving a distress signal from the Titanic, Carpathia's Captain Rostron
 quickly responded and rescued 705 passengers from the North Atlantic.
     Six years later on July 17, 1918, Carpathia was torpedoed by a German
 U-Boat and sank while transporting military passengers for the British
 government during World War I. Carpathia was re-discovered in 2000 by a
 team of shipwreck explorers funded by author Clive Cussler of the United
 States.
     "The story of Carpathia is one of heroism and ultimate tragedy. This
 expedition will allow us the unique opportunity to tell the complete
 journey of Titanic and its rescue ship through a new exhibition slated to
 open in the fall of 2008. In addition it will provide the public with
 important historical and archaeological insight into the final moments of
 the Carpathia," states Arnie Geller, President and CEO of Premier
 Exhibitions, Inc.
     RMS Titanic, Inc. will be assisted in project operations by a number of
 independent contractors that include COMEX, Center for Maritime &
 Underwater Resource Management (CMURM), Conservation Solutions, Nautilus
 Marine Group, and Maritime Heritage Consulting. COMEX will provide the
 oceanographic research vessel Janus, remotely operated vehicles (ROVs),
 remote-sensing systems, ranging and positioning systems, and navigation
 systems. CMURM is a nonprofit scientific and educational organization
 specializing in underwater archaeology and historic shipwreck management.
 Conservation Solutions, Inc. provides a variety of services in materials
 conservation. Nautilus Marine Group will be providing consulting services
 for sector scanning sonar operations. Maritime Heritage Consulting will
 provide scientific, archaeological, and environmental consulting services
 for the field operations, post-processing of data, and production of the
 project field report.
     The project team will consist of PH Nargeolet, Expedition Leader;
 Kenneth J. Vrana, Consulting Underwater Archaeologist; Rebecca Parker,
 Registrar and Archivist; Cheryl Mure Education Specialist; Don Angel,
 Recovery and Conservation Technician and David Galusha, Consulting
 Materials Conservator.
     RMS Titanic, Inc. acquired acquisition rights to the RMS Carpathia in
 June 2001. In February 2007 the Company entered into a Purchase and Sale
 Agreement with Seaventures Ltd. pursuant to which Seaventures Ltd. acquired
 all of the Company's interest in the RMS Carpathia. Seaventures Ltd. has
 authorized RMS Titanic, Inc. to conduct an expedition to the wreck that
 will be performed for the joint benefit of RMS Titanic, Inc. and
 Seaventures.
     RMS Titanic Inc. is the only company permitted by law to recover
 objects from the wreck of the RMS Titanic. The Company was granted
 Salvor-in- Possession rights to the wreck of the Titanic by a United States
 federal court in 1994 and has conducted seven research and recovery
 expeditions to the Titanic wreck site and recovered approximately 5,500
 artifacts.
     Premier Exhibitions, Inc. is a major provider of museum quality touring
 exhibitions throughout the world.
     Certain of the above statements contained in this press release are
 forward-looking statements that involve a number of risks and
 uncertainties. Such forward-looking statements are within the meaning of
 that term in Section 27A of the Securities Act of 1933, as amended, and
 Section 21E of the Securities Exchange Act of 1934, as amended. The Company
 has based these forward-looking statements on its current expectations and
 projections about future events, based on the information currently
 available to it. The forward-looking statements include statements relating
 to the Company's anticipated financial performance, business prospects, new
 developments, new strategies and similar matters. The following important
 factors, in addition to those described in the Company's filings with the
 Securities and Exchange Commission, including its Annual Report on Form
 10-K for the year ended February 28, 2006, especially in the Risk Factors
 and the Management's Discussion and Analysis sections, and its Quarterly
 Reports on Form 10-Q and its Current Reports on Form 8-K (each of which is
 available upon request from the Company), may affect the future results of
 the Company and cause those results to differ materially from those
 expressed in the forward-looking statements; material adverse changes in
 the economic conditions in the Company's markets, including terrorist
 attacks, competition from others, how much capital the Company may or may
 not receive from required financings, and whether or not, and to what
 extent, the Company consummates its planned leases to place exhibitions. We
 disclaim any obligation to update these forward- looking statements.
      For additional Information:
 
      Investor Relations
      North Coast Advisors, Inc.:
      Craig T. Stewart (585) 218-7371
      cstewart@ncainc.com
 
      Media Inquiries:
      Premier Exhibitions, Inc.:
      Katherine Morgenstern (404) 842-2600
      kmorgenstern@prxi.com
 
 

SOURCE Premier Exhibitions, Inc.

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