The 500 pound World War Two device was picked up during dredging work.
Sail-In Cinema At Cowes!
To mark the end of Cowes Week on Friday 12 August 2011, the event hosted the world's first-ever Sail-In Cinema.
With a 10.5m x 5.5m screen erected off Cowes Esplanade, sailors on boats didn't have to venture far for a unique screening of the fitting picture 'Master and Commander: The Far Side of the World'.
Around £75,000 worth of fireworks lit up the skies afterwards and it's thought around 200,000 people watched it.
Commenting on the Sail-In Cinema on the Friday, Juliet McInnes, spokesperson for Talisker, said:
"We are really excited about bringing this unique experience to the world's best-known sailing event. The film seems a fitting way to help celebrate the end to a remarkable week of sailing; we are hoping people can sit back, relax and raise a dram of Talisker to toast to the silver screen".
640 men were killed when the South African troop carrier was hit by a cargo ship in 1917.
The 79-year-old man suffered a serious head injury in the Cranmer Road car park in Winton.
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