Item 8.01 Other Events

On October 23, 2009, the Board of Directors of Premier Exhibitions, Inc. (the "Company"), approved a resolution whereby RMS Titanic Inc. (a wholly-owned subsidiary of the Company) shall create a trust and reserve fund that will be irrevocably pledged to and held for the exclusive purpose of providing a performance guarantee for the maintenance and preservation of the Titanic collection for the public interest and which may not be used for general operation or routine expenses of RMS Titanic, Inc. or the Company (the "Trust Account"). The Trust Account would be formed as soon as reasonably practicable only if the United States District Court for the Eastern District of Virginia, Norfolk Division (the "Court") issues RMS Titanic, Inc. an in-specie award in response to its motion for a salvage award and such in-specie award is issued subject only to the covenants and conditions already presented to and filed with the Court in conjunction with the Company's motion for a salvage award. Once the Trust Account is created, the Company will make an initial payment of five hundred thousand dollars ($500,000) and will subsequently pay into the Trust Account a minimum of twenty five thousand dollars ($25,000) for each future fiscal quarter until the corpus of such Trust Account equals five million dollars ($5,000,000). The maintenance of the Trust Account shall be performed in a manner that is consistent with the covenants and conditions already presented to and filed with the court in conjunction with the Company's motion for a salvage award.

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