Ocean Resources Establishes Office of Chairman, Appoints New CFO

[Tx Ocean Resources via BizWire]

DALLAS--(BUSINESS WIRE)--April 29, 2004--Ocean Resources, Inc.
(OTCBB:OCRI - News) announced today that one of the outcomes of the
Company's Board Meeting that took place in Dallas last week was the
establishment of an Office of the Chairman of the Board of Directors.
Filling the Office as co-Chairs are current CEO of the Company, Dennis
McLaughlin, and longtime Board Member, Nick Sinclair-Brown. Mr.
Sinclair-Brown is a specialist in the history of international
maritime law with a particular emphasis on issues of salvage. He has
been an advisor on a number of deep water cargo recovery operations
since the early 1980's and is a Fellow of the Lauterpacht Research
Centre for International Law at Cambridge University.
Additionally, the Board approved the appointment of Mr. Steve
Sanit to the post of Chief Financial Officer. Mr. Sanit has nearly
thirty years of experience managing financial and administrative
operations for companies as diverse as the Big 4 accounting firms,
Fortune 500 companies, and entrepreneurial firms. For the past twenty
years, Mr. Sanit has served as CFO for telecom, media, and real estate
companies catering to both domestic and international markets. His
broad-based experience includes mergers and acquisitions, contract
negotiation, strategic planning, and crisis management, as well as the
day-to-day management of the accounting, finance, human resources and
administrative functions.
In other activity, Mark Ariail was appointed to the Company's
Board of Advisors. Mr. Ariail has over 20 years of corporate
accounting experience, with responsibilities that have ranged from
investor relations to SEC reporting to foreign tax policies. He has an
extensive background in finance including banking relationships,
credit facilities, and international investments. Mr. Ariail has
provided interim CFO services to the Company during the past four
months.
Dennis McLaughlin, Ocean Resources CEO, commented, "The expanded
management expertise will ensure that the proper controls are in place
to handle the anticipated growth of our recovery operations."

About Ocean Resources:

Ocean Resources, Inc. (www.oceanri.com) is engaged in the business
of deep-water recovery operations of valuable shipwreck cargos
throughout the world.

Disclaimer

This press release may contain "forward-looking statements". All
statements, other than statements of fact, included in this release
and without limitation statements regarding potential future plans and
objectives of the Company, are forward- looking statements that
involve risks and uncertainties. Although the Company believes that
the expectations reflected in such forward-looking statements are
reasonable, there can be no assurance that such statements will prove
to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Actual results
may differ materially from the Company's expectations due to changes
in operating performance, project schedules, prices and other
technical and economic factors.