3rd International Submarine Races Awards Summary
| Overall Performance: Innovation/Speed/Cost Effectiveness |
| Award Sponsor: H.A. Perry Foundation |
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| 1st Place (Trophy & $5000) |
Tech Torpedo II - Tennessee Technological University |
| 2nd Place |
C-Scan II - Gary Straughan |
| 3rd Place |
Pelagic Cruiser - Team Borborygmi |
| 4th Place |
FAU-Boat - Florida Atlantic University |
| 5th Place |
Subasaurus - Benthos, Inc. |
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| Innovation |
| Award Sponsor: Oceaneering International |
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| 1st Place (Trophy & $1000) |
Omer - E.T.S. Sub Club |
| 2nd Place |
C-Scan II - Gary Straughan |
| 3rd Place |
Sub-Human III - Sub-Human Group |
| 4th Place |
Killer Instinct - Univ. of British Columbia |
| 5th Place |
Deep Purple - University of Washington |
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| Speed |
| Award Sponsor: Rockwell International Corp. |
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| 1st Place (Trophy & $1000) |
FAU-Boat - Florida Atlantic University |
| 2nd Place |
Subasaurus - Benthos, Inc. |
| 3rd Place |
Subjugator - Battelle |
| 4th Place |
Submousible - Walt Disney Epcot Center |
| 5th Place |
Tech Torpedo II - Tennessee Technological University |
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| Cost Effectiveness |
| Award Sponsor: H.A. Perry Foundation |
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| 1st Place (Trophy & $1000) |
Pelagic Cruiser II - Team Borborygmi |
| 2nd Place |
FAU-Boat - Florida Atlantic University |
| 3rd Place |
Sea Beaver II - Massachusetts Institute of Technology |
| 4th Place |
SeaFIT - Florida Institute of Technology |
| 5th Place |
Borti II - German Sub Team |
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| Most Effective Launch and Recovery System |
| Award Sponsor: General Dynamics Electric Boat Division |
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| Academic (Plaque & $2000) |
SeaFIT - Florida Institute of Technology |
| Non-Academic (Plaque & $500) |
Submousible - Walt Disney World Corp. |
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| Spirit of the Race Award |
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| Voted by Contestants |
AquaMelon - Robert & Kathy Golobic |
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| Best Use of Composite Materials |
| Award Sponsor: E.I. DuPont de Nemours & Company |
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| Academic ($2000) |
Tech Torpedo II - Tennessee Technological University |
| Non-Academic ($500) |
Submousible - Walt Disney World Corp. |
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| Fastest Time Trial Speed |
| Award Sponsor: International Business Machines |
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| $1000 |
FAU-Boat - Florida Atlantic University |
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| Best Overall Performance by an Academic Institution |
| Award Sponsor: Coastal Systems Station |
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| 1st Place (Perpetual Trophy) |
Tech Torpedo II - Tennessee Technological University |
| 2nd Place (Plaque) |
FAU-Boat - Florida Atlantic University |
| 3rd Place (Plaque) |
Sea Beaver II - Massachusetts Institute of Technology |
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| Most Innovative Student Design |
| Award Sponsor: American Society of Engineering Educators |
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| Perpetual Trophy |
Omer - E.T.S. Sub Club |
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| Best Technical Presentation |
| Award Sponsor: Compass Publications Sea Technology Magazine |
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| $250 |
The Bends - LeTourneau University |
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| Most Innovative International Design |
| Award Sponsor: Herb and Jean VanTrump |
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| $250 |
Omer - E.T.S. Sub Club |