SOURCE: Admiralty Holding Company

August 08, 2006 08:30 ET

Admiralty Holding Company Tracking 1715 Fleet Capitana

DOUGLASVILLE, GA -- (MARKET WIRE) -- August 8, 2006 -- Admiralty Holding Company (OTCBB: ADMH), Admiralty Corporation announced today that it believes that it is tracking a debris trail from the catastrophic break up of the Senora de la Regla, the "Capitana" of the famous 1715 Fleet. The manifest recorded 300 chests (2,559,917 pesos in coins and bars) of silver along with other valuable items. Our partner, Gold Hound, Inc. has done extensive surveying and research on the Regla and has ascertained a previously undiscovered debris trail which it believes to be from the Regla. We, working together with Gold Hound personnel, are currently following this trail of ballast stones, keel spikes and other debris which have led us to believe that the bottom of the ship was lost in this area. We are hopeful that, as we uncover the trail, we will discover much of the lost silver and other treasure, including contraband, which was likely to have been carried in the hull of the ship.

Historians and salvors speculate that, after the bottom was lost from the Regla, the upper portion of the ship was driven into shallow waters where it broke apart. Records indicate that about 30% of the treasure was recovered after the wreck by survivors. Modern day salvors have recovered additional amounts. Nevertheless, based on its exhaustive research, Gold Hound believes that over eighteen tons of silver coins are still missing and awaiting discovery and recovery. We are currently working in only 30 feet of water and the target artifacts are believed to be buried under from 6 to 10 feet of sand.

More information concerning Admiralty may be found at our web site, www.admiraltycorporation.com as well as pictures of some of the artifacts recently recovered.

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 risks and uncertainties (some of which are described in the Company's Annual Report for 2005 on Form 10-KSB filed with the SEC) which could cause actual results or events to differ materially from those anticipated. Admiralty does not undertake to update any of its forward-looking statements that may be made from time to time.

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