SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     LITIGATION RELEASE NO.  15573 / November 26, 1997

     SEC v. SEAHAWK DEEP OCEAN TECHNOLOGY, INC., JOHN C. MORRIS, GREGORY H.
     STEMM AND DANIEL S. BAGLEY, U.S. District Court for the Middle District of
     Florida, Docket Number 94-1249 CIV-T17A

          The Securities and Exchange Commission today announced a Tampa,
     Florida jury reached a verdict and found John Morris, Gregory Stemm and
     Daniel Bagley not liable for the securities law violations charged by the
     Commission.  The three are former directors of Seahawk Deep Ocean
     Technology, Inc., a Florida-based underwater salvage and treasure hunting
     company.  The complaint alleged the three former directors violated the
     antifraud provisions of the federal securities laws by making materially
     false and misleading statements and omissions about a shipwreck discovered
     by Seahawk near the Dry Tortuga islands off the coast of Florida and
     profited personally by selling Seahawk securities into the market they had
     artificially inflated.  The complaint also alleged that the three former
     directors had sold Seahawk securities while in possession of material
     nonpublic information contained in an internal report written by the
     company archaeologist.






























                              ======END OF PAGE 1======