SOURCE: Oceanic Research and Recovery

June 30, 2008 05:00 ET

Oceanic Completes First Phase of Mag and Sub-Bottom Profiling

LINDON, UT--(Marketwire - June 30, 2008) - Oceanic Research and Recovery Inc. (PINKSHEETS: ORRV), a marine salvage and exploration company, today announced completion of the first phase of mag, sub-bottom, and side-scan profiling near its permitted "Woman Key" site in Key West, FL.

ORR team members and skilled divers, working with Sonographics, Inc., a Florida-based company, operated aboard the "R.V. Deepscan," the company's main research vessel, performing grid searches and logging several areas of interest within the ORR permitted area.

"Sonographics brings state-of-the-art technology and years of experience in underwater profiling, an essential part of our research," said William Shupe, ORR's President. "We will begin our second phase of profiling shortly and will focus primarily around our permitted area, the 'Kirby' site."

In 1988 a wooden beam was pulled from the "Kirby" site by the Jamestown Group, and carbon dating placed its origins in the 16th century. ORR has a survey and inventory permit to work in this area through its contract with the Rose/Wells group and plans to make the "Kirby" site a priority this dive season.

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Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements

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