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Admiralty Holding Company


For some time Admiralty has sought partners who have reason to believe that
they know the location of valuable wrecks.com and information
concerning Captain Carl Fismer can be found on his web site
www.

Forward-Looking Statements Caution:

This release contains "forward-looking statements.cabelas.

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Brand. Brand designs and manufactures high performance tactical nylon
gear for military, law enforcement and other demanding applications.-Ops.

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-Ops. Brand's proprietary "Flip-Tab"
buckle system allows quick, easy belt sizing and adjustment.-Ops.
Spec.

PRESS RELEASE Admiralty Holding Company Surveys Potential Treasure Site

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75 inches and 1.-Ops." Such statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.----Cabela's
Incorporated (NYSE: CAB), the World's Foremost Outfitter of hunting,
fishing, and outdoor gear, announced today that management will
present on March 9, 2005, at the JPMorgan Small Cap Conference at The
Ritz-Carlton in Chicago , Illinois.com or at
http://equityconferences. Cabela's also issues the Cabela's Club(R) VISA credit card
through which it offers a related customer loyalty rewards program as
a vehicle for strengthening its customer relationships.sec.

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Brand products are 100% Made in
America in the company's manufacturing facility in Monahans, Texas.

Admiralty CEO G. Captain Fismer has a partner in
the site and they brought the site to us because of the New World
Legacy's excellent surveying capability.

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SHOT Show Attendees Find New Product that Eases the Path Through
Today's Routine Metal Detector Check

LAS VEGAS, Spec.-Ops. Brand products, the new "Airport Friendly " Better BDU
Belt is backed by the company's unique lifetime guarantee. Spec. Brand products are available at military outfitters and post
exchanges (PXs) nationwide, as well as by phone or Web order. Since the
Company's founding in 1961, Cabela's has grown to become one of the
most well -known outdoor recreation brands in the United States, and
has long been recognized as the World's Foremost Outfitter(R). Through
Cabela's established direct business and its growing number of
destination retail stores, it offers a wide and distinctive selection
of high quality outdoor products at competitive prices while providing
superior customer service.

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Brand's new Battle Buckles(TM)
introduced at the show and specifically designed and engineered to meet the
demanding performance requirements of weapon slings.specopsbrand.

activity artifacts

Spec.m. The words "believe," "may," "should,"
"anticipate," "estimate ," "expect," "intend," "objective," "seek,"
"plan," "will" and similar statements are intended to identify
forward-looking statements.

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"The airport friendly belt buckle will
withstand just about anything because it is stronger than it needs to be. Admiralty
does not undertake to update any of its forward-looking statements that may
be made from time to time.

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Brand
Spec.
Admiralty Holding Company (OTC BB: ADMH)
(Admiralty) announced today that its research ship, the R/V New World
Legacy, has begun an electronic survey of an area in the Gulf of Mexico
which may contain the sunken remains of an old ship which is thought to
have carried valuable historic artifacts. The survey is expected to be
completed this week.cabelas. The Company's forward-looking statements
speak only as of the date they are made.

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The buckle is one example of Spec. Howard Collingwood stated , "Admiralty is partnering with
Captain Carl Fismer concerning this site.

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95.

About Spec .-Ops. is a
registered trademark, of Best Made Designs LLC. As the sites are more clearly identified and after a given site
is either arrested or permitted, more information concerning that site will
be shared.

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Spec-Ops. Retail list price
is $19. Forward-looking statements involve risks and uncertainties
that may cause the Company's actual results, performance or financial
condition to differ materially from the expectations of future
results, performance or financial condition that the Company expresses
or implies in any forward-looking statements.

outdoors objects

"
The Better BDU Belt is made of nylon webbing that was engineered to fit
more comfortably around the body while maintaining a stiffer sidewall for
increased gear carrying capacity. The
company's product line includes organizers, wallets, weapon slings, packs and
load bearing equipment, all designed to lighten the load and minimize the
effort to operate equipment.divefortreasure. Forward-looking statements are based on
expectations, estimates and projections that involve a number of risks and
uncertainties (some of which are described in the Company's Annual Report
for 2004 on Form 10-KSB filed with the SEC) which could cause actual
results or events to differ materially from those anticipated. Cabela 's operates as an integrated
multi-channel retailer, offering its customers a seamless shopping
experience through its catalogs, website and destination retail
stores.

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For more
information call 866-SPEC -OPS, or visit http://www. In some of the
sites, we may require a permit to proceed.

Cabela's To Present At The JPMorgan Small Cap Conference

These risks and
uncertainties include, but are not limited to: the ability to
negotiate favorable lease and economic development arrangements;
expansion into new markets; market saturation due to new destination
retail store openings; the rate of growth of general and
administrative expenses associated with building a strengthened
corporate infrastructure to support the Company's growth initiatives;
increasing competition in the outdoor segment of the sporting goods
industry; the cost of the Company's products; supply and delivery
interruptions; adverse weather conditions; fluctuations in operating
results; adverse economic conditions; increased fuel prices; labor
shortages or increased labor costs; changes in consumer preferences
and demographic trends; increased government regulation; inadequate
protection of the Company's intellectual property; other factors that
the Company may not have currently identified or quantified; and other
risks , relevant factors and uncertainties identified in the "Risk
Factors" section of the Company's most recently filed prospectus,
which is available at the Company's website at www.

The term is generally associated with the act of treasure hunting, which implies that the metal objects have value.

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Spec.-Ops . Brand Introduces Unique 'Airport Friendly' BDU Belt

Brand
today introduced a revolutionary solution to one of the biggest headaches of
airport travel, an "airport friendly" version of its top-selling Better BDU
Belt, shown for the first time here at the SHOT (Shooting, Hunting, Outdoor
Trade) Show.
Brand's new "airport friendly" Better BDU Belt puts an end to this headache by
replacing metal buckles with a new single-piece, injection molded plastic
buckle that is tough enough to withstand the most rigorous battle conditions
yet allows the wearer to pass easily through security. We are negotiating with Captain
Fismer on several additional sites which we hope to be able to survey over
the next several weeks.
A live webcast of Cabela's presentation will begin at 3:30 p. CT
on March 9, 2005, and can be accessed through the "Investor Relations"
page of Cabela's website at http: //www.

About Cabela's Incorporated

Cabela's Incorporated, headquartered in Sidney, Nebraska , is the
nation's largest direct marketer, and a leading specialty retailer, of
hunting, fishing , camping and related outdoor merchandise.

Metal detecting is the activity of searching for, and the recovery of, metal objects such as coins, jewelry, artifacts or other items with an electronic device (a metal detector).

metal detecting

"We developed the Battle Buckles for our slings, where failure has much
graver consequences than the embarrassment of your pants falling down," said
Jeff Wemmer, CEO of Spec. All other trademarks are the
property of their respective owners.com.com and the
SEC's website at www. Given the risks and uncertainties
surrounding forward-looking statements, you should not place undue
reliance on these statements. Other than as required by
law, the Company undertakes no obligation to update or revise
forward-looking statements, whether as a result of new information ,
future events or otherwise.

device searching

One of the biggest, yet necessary, nuisances of modern air travel is the
need to virtually "strip down" before passing through metal detectors. The
awkward juggling to take a belt off and put it back on takes extra time and
increases the risk that a traveler will leave something behind. More information concerning Admiralty
may be found on our web site www.com .

Business Editors
JPMorgan Small Cap Conference

SIDNEY, Neb. An archived replay of the presentation will be available
shortly after the live presentation.

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-Ops.
SHOT (Shooting , Hunting, Outdoor Trade) Show is owned and sponsored by the
National Shooting Sports Foundation (NSSF).-Ops.

CAUTIONARY STATEMENT FOR THE PURPOSE OF THE SAFE HARBOR PROVISIONS
UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release and the related webcast (other than historical
information) may contain "forward-looking statements" that are based
on the Company 's beliefs, assumptions and expectations of future
events, taking into account the information currently available to the
Company.

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Like all Spec.

"Battle Buckle" and Better BDU Belt are trademarks, and Spec.

Please share the adventure with us. Those interested in listening
to the presentation should log on five minutes prior to the scheduled
start time.

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-Ops. Brand is located in SHOT Show Booth 23029. After the electronic survey results are evaluated, a
decision will be made concerning next steps. After we have completed these surveys and have
evaluated their potential along with the archival data which we have on the
sites, each site will be prioritized concerning next steps. Captain Fismer has a wealth of
knowledge concerning the location of potentially valuable wreck sites and
has a proven record in the search and recovery of valuable ship wreck
artifacts .

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5 inches, two waist sizes: Regular,
24-36 inches and Large, 36-46 inches, and four colors: Black , Olive, Tan, and
Air Force Blue.admiraltycorporation.

jpmorgan.

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-Ops. The belt is
available in two widths, 1.

Spec.

act artifacts

A private trade show not open to
the public, SHOT Show is the world's premier exposition of firearms,
ammunition, knives, law enforcement and tactical equipment , outdoor wear,
sporting optics, paintball, hunting and shooting equipment, and many other
related products and services.-Ops.gov.

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- - kjjkjk

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