ATLANTA, Oct. 15 -- RMS Titanic, Inc. (OTCBB: SOST) announced today that it has completed the formation of its new holding company Premier Exhibitions, Inc. (OTCBB: PXHB). The stock of Premier Exhibitions, Inc. will be quoted on the OTC Bulletin Board beginning Monday, October 18, 2004 under the new symbol "PXHB". RMS Titanic, Inc.'s stock will cease quotation as of the close of business today.

This tax-free reorganization was structured in a manner that did not require action by RMS Titanic Inc.'s shareholders under Florida law, whose rights, privileges and interests will remain the same with respect to Premier Exhibitions, Inc. Outstanding stock certificates of RMS Titanic, Inc. will be exchanged for new certificates of Premier common stock on a one-for-one basis; however, the articles of incorporation, by-laws, officers, and directors of the company did not change as a result of the holding company formation.

The purpose of the holding company formation is to create an organizational framework that tends to be more flexible and conducive to future expansion. As a result of the new framework, Premier Exhibitions, Inc. will continue the company's overall business of developing and touring museum quality exhibitions throughout the world, while RMS Titanic, Inc. will be limited solely to touring the company's Titanic exhibitions. RMS Titanic, Inc. continues to be the only company ever permitted by law to recover objects from the wreck of the Titanic, and likewise continues to maintain its salvor-in-possession rights to the wreck of the Titanic, which were granted to it by a United States Federal Court in 1994.

Courtesy of RMS Titanic, Inc.

RMS Titanic, Inc.