Premier Exhibitions, Inc. Receives In Specie Salvage Award to "Post 1987" Titanic Artifacts

Premier Exhibitions, Inc. PRXI today announced that the United States District Court for the Eastern District of Virginia, Norfolk Division, has issued an opinion granting an in specie salvage award of the "Post 1987 Artifacts" to RMS Titanic Inc., a wholly owned subsidiary of the Company. The in specie salvage award is based upon the Company's work in recovering and conserving over three thousand artifacts from the wreck of Titanic during its expeditions conducted in 1993, 1994, 1996, 1998, 2000, and 2004. Premier Exhibitions, Inc., through RMS Titanic Inc., has been the Salvor-in-Possession of the Titanic wreck site since 1993, giving it the sole and exclusive rights to recover artifacts from the wreck. In 1993, a French maritime tribunal awarded RMS Titanic Inc. title to the approximately 1,800 artifacts recovered in 1987 (the "1987 Artifacts"). The Court set the value of the assets awarded today at $110 Million, which does not include the value of the 1987 Artifacts, nor the intangible assets associated with the entire collection.