press release July 15, 2010, 9:56 a.m. EDT · Recommend · Post: UnderSea Recovery Corporation Announces Letter of Intent for Shipwreck Recovery Permit in Haiti ATLANTA, Jul 15, 2010 (GlobeNewswire via COMTEX) -- UnderSea Recovery Corporation ("UNSR") (formerly Legal Access Technologies, Inc.) (Pink Sheets:LGAL) announced today that it has received a Letter of Intent, dated July 8, 2010, from His Worship, the Mayor of Cap-Haïtien, Haiti, Honourable Philocles St- Fleur, in which he committed his strong support for UNSR to engage in projects for search and recovery of historic treasure shipwrecks in the territorial waters of Cap-Haitien, Haiti, where a number of wrecks are recorded to be situated, using the proprietary ATLIS technology. His Worship is also the Chairman of the Council of Mayors, many of whom also have documented wrecks in their territorial waters. Because the infrastructure of Cap-Haïtien was not severely impacted by the earthquake which devastated the capital city of Port-au-Prince, over 400,000 people from the capital, many businesses and a number of government functions have been moved to Cap-Haïtien, resulting in the Mayor receiving increased jurisdictional authority. Included in the documented wrecks in Haitian territorial waters is one reported to contain $2 billion worth of gold, according to Nigel Pickford, one of the world's foremost treasure wreck historians, in his excellent book, The Atlas of Shipwrecks & Treasure. In making this announcement, Herbert Leeming, UNSR's CEO, stated: "I am greatly pleased to be able to make this announcement. Our ability to obtain a permit to search for and recover historic shipwrecks in the territorial waters of the Republic of Haiti would be an invaluable opportunity to provide revenues for UNSR and, of utmost importance, for the vital rebuilding needs of the Haitian government. Last week I discussed our plan of marine operations with a number of senior Haitian governmental and business delegates attending a Trade Mission Conference in Ft. Lauderdale, Florida. I was accompanied by our newly appointed Vice President for Permitting, who initiated my meetings with the Haitian trade delegation. She was instrumental in successfully securing the Jamaican search and recovery permit for the Pedro Bank during 2002-2003. She is very experienced in working with the countries of CARICOM (the Caribbean Community and Common Market) and will work with us to obtain shipwreck permits throughout the Caribbean Basin. I, along with a team from UNSR, will be traveling to Cap-Haïtien within the next few weeks to finalize the agreement and procedures for our search and recovery projects." Relating to the previously announced $1.5 million funding, Mr. Leeming also reported that "one final requirement is being completed and funds are expected to be released to UNSR shortly." About the Company The Company is engaged in the business of locating and recovering historical shipwrecks, primarily those from the 15th through 19th centuries, and other cultural resources (artifacts and other objects of historical and archaeological interest) from the world's oceans and large lakes by applying advanced technologies in an environmentally responsible manner. Forward-Looking Statements Caution: This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: UnderSea Recovery Corporation CONTACT: UnderSea Recovery Corporation Bobby Goldman, VP - Business Development 212-628-8777 bobby777@rcn.com (404) 826-1164 P.O. Box 28961 Atlanta, GA 30358 (C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.