DGAP-News

Underseas Research & Recovery Ltd.: SBN Internet Radio to Cease its Operations

DGAP-News: Underseas Research & Recovery Ltd. / Key word(s):
Miscellaneous
Underseas Research & Recovery Ltd.: SBN Internet Radio to Cease its
Operations

05.03.2012 / 07:45

---

Underseas Research & Recovery Ltd. / Tags: Internet, Radio, Internet Radio,
Satellite Radio, Music, Entertainment

SBN Internet Radio to Cease its Operations

Toronto, Canada - March 02, 2012

Underseas Research & Recovery Ltd. (´Underseas´ or the ´Company´), the
Toronto based holding company has been informed by the management of its
subsidiary SBN SPA Ltd. in Malta, that the operations for the internet
radio and the projected expansion into satellite radio business will be
ceased due to license issues. SBN reported that the website of the SBN
internet radio will be disconnected on March 5th 2012. SBN management
stated that they could not renew the existing license in Malta; therefore
SBN will not be in the position to legally offer its current internet radio
services any longer.

Underseas is very surprised about this unexpected development of its
subsidiary, particularly now that a company report about the internet radio
business has been published by a Canadian research firm describing its
current business and prospects of the planned expansion into satellite
radio in Europe. Underseas as the owner of the internet radio business will
research and investigate this matter more precisely.

About Underseas Research & Recovery Ltd.
Underseas Research & Recovery Ltd. is the holding company for a
Europe-based internet and satellite radio as well as for various consumer
electronic goods. The shares of Underseas are listed on the Open Market
segment of the Frankfurt and Berlin Stock Exchanges. Underseas is about to
expand its current internet based radio service into broadcasting through
stratosphere based airships respectively low orbit satellites for Europe
and the Mediterranean Sea prospectively until the year 2014. Underseas
strives to offer its projected mobile satellite radio programs to a
population of over 700 Million people.

Contact:  [e-mail]   

Disclaimer; Forward-Looking Statements:
Any statements contained in this document that are not historical facts are
forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as ´anticipate, ´ ´believe, ´
´estimate, ´ ´expect, ´ ´forecast, ´ ´intend, ´ ´may, ´ ´plan, ´ ´project, ´
´predict, ´ ´should´ and ´will´ and similar expressions as they relate to
Underseas Research & Recovery Ltd. are intended to identify such
forward-looking statements. Underseas Research & Recovery Ltd. undertakes
no obligation to publicly update or revise any forward-looking statements.
All forward-looking statements are subject to various risks and
uncertainties that could cause actual results to differ materially from
expectations.

Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates. Although we believe that
the beliefs, plans, expectations and intentions contained in such
statements are reasonable, there can be no assurance that such beliefs,
plans, expectations or intentions will prove to be accurate. This or any
other statement from the company or its representatives does not constitute
an offer or a solicitation of an offer for the purchase or sale of any
shares or other securities of I Underseas Research & Recovery Ltd. There
are substantial risks associated with investing in development stage
companies. Potential investors should seek advice from a qualified
financial dealer prior to investing in Underseas Research & Recovery Ltd.

Language:         English                                           
Company:          Underseas Research & Recovery Ltd.
                  4936 Younger Street Suite 727
                  Toronto, ON. Canada M2N 6S3
Tel:              +1.647.477.9209
Fax:              +1.866.230.1349
E-Mail:           [e-mail]   
Internet:         http://www.underseas.net
ISIN:             CA9043511034                                     
WKN:              A0RMS3                                         
Exchanges:        Open Market Frankfurt, Open Market Berlin


End of Corporate News

---

05.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---

159228 05.03.2012