SUBSEA RESOURCES: A possible Treasure Trove

DIRECTOR SHARE DEALING

The Company announces that it was notified 21 December 2006 that, on that day,
Mr Christopher Harborne, a non-executive director of the Company, became
interested in a further 18,000,000 ordinary shares of 5 pence each in the
Company, as specified by the Company in its announcement of 18 December 2006.

These ordinary shares were issued to Mr Harborne in connection with the
capitalisation of loans previously made to the Company by Mr Harborne. The total
amount of loans made to the Company together with accrued interest amounted to
#1.8 million and 18,000,000 ordinary shares were issued at a price of 10p per
share as full consideration for such loans.

Mr. Harborne also advised the Company that on 21 December 2006 he sold
10,146,200 shares at a price of 10 pence.