SOURCE: Admiralty Holding Company

March 16, 2006 10:27 ET

Admiralty Holding Company Surveys Potential Treasure Site

DOUGLASVILLE, GA -- (MARKET WIRE) -- March 16, 2006 -- Admiralty Holding Company (OTC BB: ADMH) (Admiralty) announced today that its research ship, the R/V New World Legacy, has begun an electronic survey of an area in the Gulf of Mexico which may contain the sunken remains of an old ship which is thought to have carried valuable historic artifacts. The survey is expected to be completed this week. After the electronic survey results are evaluated, a decision will be made concerning next steps.

Admiralty CEO G. Howard Collingwood stated, "Admiralty is partnering with Captain Carl Fismer concerning this site. Captain Fismer has a partner in the site and they brought the site to us because of the New World Legacy's excellent surveying capability. We are negotiating with Captain Fismer on several additional sites which we hope to be able to survey over the next several weeks. After we have completed these surveys and have evaluated their potential along with the archival data which we have on the sites, each site will be prioritized concerning next steps. In some of the sites, we may require a permit to proceed."

For some time Admiralty has sought partners who have reason to believe that they know the location of valuable wrecks. Captain Fismer has a wealth of knowledge concerning the location of potentially valuable wreck sites and has a proven record in the search and recovery of valuable ship wreck artifacts. As the sites are more clearly identified and after a given site is either arrested or permitted, more information concerning that site will be shared.

Please share the adventure with us. More information concerning Admiralty may be found on our web site www.admiraltycorporation.com and information concerning Captain Carl Fismer can be found on his web site www.divefortreasure.com.

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 2004 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.

Contact Information