Frederick G. Harrison, Sr. and Estate of Catherine Harrison, Deceased - Page 6

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          concerning the backgrounds of these individuals.  Petitioner                
          received Glenn Tillman's resume during his San Diego meeting in             
          the early part of 1989.  Petitioner relied upon this resume in              
          making his decision to enter into a joint venture to hunt for               
          gold and treasure with International Recoveries.  As part of his            
          investigation into Mr. Tillman's qualifications and expertise,              
          petitioner contacted the Mel Fisher organization,5 a prior                  
          employer of Mr. Tillman, in order to verify his expertise.  Mr.             
          Tillman was given a favorable report.  Mr. Tillman's                        
          qualifications encouraged petitioner to participate in this                 
          venture.                                                                    
               Mr. Harrison did not see or rely on any information that               
          showed any prior salvage operations conducted by International              
          Recoveries or its owners.  With respect to the salvage operation            
          contemplated by International Recoveries, petitioner was shown              
          papers and reports of its prospective activities.  He saw no                
          financial data about International Recoveries before becoming               
          involved with that company or its principals.  Petitioner entered           


               5  The Mel Fisher organization was a very successful                   
          treasure hunting group.  His group spent millions of dollars                
          searching for the Atocha, a Spanish galleon.  In 1980, Fisher               
          found the Margarita, another galleon, whose treasure yielded $20            
          million, which was insignificant compared with the expected yield           
          of the Atocha.  In 1985, Fisher discovered the Atocha.  The                 
          treasure that was discovered included nearly 40 tons of silver              
          bars, over 2,300 natural, uncut gems with some weighing up to 77            
          karats, gold chains as much as 50 feet long, and other items such           
          as weapons and personal items.  Mr. Tillman was not with this               
          group at the time of the Atocha discovery.                                  




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