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FOR IMMEDIATE RELEASE

JEAN-MICHEL COUSTEAU, C.O.F. ANNOUNCE PLANS TO RESTORE "CALYPSO"

PARIS, France, December 7, 2004 --/WORLD-WIRE/--
Jean-Michel Cousteau, the eldest son of Captain Jacques-Yves Cousteau and a member of the Board of Directors of Campagnes Oceanographiques Francaisos (C.O.F., a French nonprofit corporation), announced today an agreement in principle to move the ship "Calypso" to the south of France where it will be restored and exhibited as part of an educational center.

Jean-Michel Cousteau is the president of Ocean Futures Society, a non-profit corporation with offices in North America and Europe.

The Calypso was a highlighted feature of many Cousteau movies and documentary television shows. The vessel has fallen into serious disrepair over the years and is currently docked at La Rochelle in Britany, France.

Cousteau said that the personal request of his late father and mother, Simone, was that the Calypso be permanently based in France after its final expedition in 1992. Captain Cousteau and Simone were married for 42 years until her premature death.

Since 1992, the members of the crew of the Calypso, Jean-Michel Cousteau and a majority of the French population have supported the request of the pioneer ocean explorer and his late wife.

"The decision to move Calypso to the south of France would fulfill the request of my father, my mother and the French people who have followed with passion Captain Cousteau’s odyssey," Jean-Michel said.

Jean-Michel also stated that, although he and C.O.F. are currently unrelated to The Cousteau Society, the Society stated in a press release in April 2002 that it was the intent of The Cousteau Society for the Calypso to remain in France and become a French "National Monument."

C.O.F., the registered owner of the Calypso, has been sued in France by Anglo Francaise which claims that it owns the ship.

This dispute puts at risk the urgently needed restoration of the Calypso.

Last week Carnival Corporation, an American based cruise line, announced it would make a substantial donation to restore Calypso in the Bahamas and that the ship would then be displayed at an unannounced location. Jean-Michel Cousteau said that he and C.O.F. look forward to the possibility of working with Carnival Corporation and encourage their generous donation, but that the restoration of the Calypso is not dependent upon reaching such an agreement.

CONTACT:

Ocean Futures Society
325 Chapala Street
Santa Barbara, California 93101 USA
TEL 805.899.8899
FAX 805.899.8898

Ocean Futures Europe
13 Rue de Tocquerville
75017 Paris FRANCE
TEL 33 1 42 27 26 67
FAX 33 1 42 27 28 82
www.oceanfutures.org

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