One week ago today, March 10, 1999, Federal Judge Louis C. Benchtle
approved the agreement between DSR and the State of California Lands
Commission and thereby gave DSR permanent title to 1,007 gold coins.  
200 coins went to the State as its share for agreeing to cease
litigation and granting a permit to continue recovery work on the
wrecksite.

DSR's 1,006 coins (l special coin is to be loaned to the Del Norte
county Historical Society) will be sold at auction by the
nationally-prominent numismatic firm Auctions by Bowers and Merena of
Wolfeboro, New Hampshire.  The auction will be held at the Renaissance
(Marriott) Hotel at 9620 Airport Road at the Los Angeles Airport over
May 28-30 (Coin preview is Friday; auction is Saturday; admission is
free).  All are invited to attend and bid on some of the coins.
Starting prices may be as low as several hundred dollars on some
of the coins, which should enable those who really want a coin to bid on
one.

After the auction on Saturday May 29, buyers will pick up their coins
on Sunday.  Then, 45 days later, around the middle of July, Bowers &
Merena will send the net auction proceeds for distribution to the
investors.

Per the agreement with the State in connection with the salvage
permit, DSR will go back to the wrecksite later this year for recovery
and reconnaissance work, preparatory to the full-scale opeation next
year.

It has been eight years and counting!