11:22     SEAPOWER RES I<00269> - Suspension of Trading                       

    At the request of Seapower Resources International Limited                
    (the "Company"), trading in its shares has been suspended with effect     
    from 10:00AM today (17/1/2005) pending the release of an announcement     
    setting forth the facts that the Company entered into a memorandum of     
    understanding on 15th January 2005 with an independent third party in     
    relation to a transaction, which if proceed, could be a major transaction.
    The Company is of the view that such information may be price sensitive.