SOURCE: Sovereign Exploration Associates International, Inc.

March 09, 2007 11:56 ET

Sovereign Announces New CFO

NEWTOWN, PA -- (MARKET WIRE) -- March 9, 2007 -- Sovereign Exploration Associates International, Inc. ("Sovereign") (OTCBB: SVXA), a maritime artifact recovery company, announced today that Martin Thorp has assumed the position of Chief Financial Officer.

Martin Thorp brings to Sovereign his extensive experience in strategic corporate finance mergers and acquisitions, both in the United States and England. He received his honors degree in Business Finance from Canterbury and is a Chartered Accountant (FCA) conversant in UK, US and International GAAP. He is a member of the UK Securities Institute (MSI) and is fully abreast of the securities regulations and reporting needs in the USA and Europe. He is an advisor to the Management Board of Grant Thornton.

"Martin has exceptional skills in accounting, finance and managing corporate growth," said Robert Baca, President and CEO of Sovereign Exploration Associates International, Inc. "I believe the integration of Martin into our executive team will strengthen the Company's management."

Thorp created Andersen Corporate Finance and built it over ten years to become a $1billion dollar run rate corporate finance strategy and restructuring business with over 1000 people. He was Global Managing Partner of Corporate Finance based in London and New York and was a member of the Management Board.


Sovereign Exploration Associates International, Inc. (OTCBB: SVXA) is a maritime exploration company that researches, digitally maps, records, and recovers artifacts from shipwreck sites. Based in Newtown, Pennsylvania, the Company targets shallow-water, in-shore projects in locations that are difficult for both recreational divers and unsophisticated salvers to gain access to or recover artifacts. The Company's contracted wreck sites and novel recovery technique combine to present the potential for a near term revenue stream and existing low cost artifact recovery opportunities. The Company has built a strong team of experienced management and knowledgeable business professionals, positioning the Company to become a major maritime artifact recovery company. Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934, SVXA, has filed form 8-K if required.


Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as the term is defined in the Private Securities Litigation Reform Act of 1995. The company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release the Company will appropriately inform the public.

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