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A British diver has been found dead near the shipwreck of a British steamship sunk by a German U-boat during the First World War.

The unnamed 50-year-olds body was discovered after a five-hour search by specialist police divers a few metres from the submerged wreck of SS Stanfield in a marine reserve near the La Manga sports resort in Spain.

He is understood to be a diving instructor. He lost contact with three other divers - all thought to be British - he went out with yesterday morning.

A major air and sea search was launched which ended with the discovery of his body near the SS Stanfield around 4.30pm local time nearly five hours after the alert was sounded.

The 120-metre long vessel, a popular attraction for divers in the area, lies nearly 200 feet below the sea at the northern point of the Islas Hormigas marine park near the popular La Manga Club in south east Spain.

(Image: La Manga Club)

It was torpedoed after its capture in 1916 and when it sank, hit the sea bed bow first splitting it open which nowadays enables divers to dive through the bow at three different levels.

The wreck is one of several in the area, described as a paradise for wreck divers because it is close to the ancient port city of Cartagena which has been the site of active trading for more than 3,000 years.

It has also been an important military base for the past 2,000 years and is still a major naval base today.

David Alcazar, spokesman for a Murcia region dive centre association, said the four men were using equipment which regulated their oxygen supply depending on their depth and meant they had to return to the surface every so often.

The Brit divers noticed their companion was missing during one of their returns to the surface around midday. Mr Alcazar said: "The diver was a well-known man because he came every summer with his family."

(Image: Getty)

Investigators will determine what has happened because the spot where the divers were is outside the recreational diving area. Police divers are still searching for Natalia Molchanova, considered to be one of the greatest free divers of all time, off the Balearic island of Fomentera.

The 53-year-old, who holds more than 40 world records, is presumed dead after failing to surface during a session with three students on Sunday. Her son Alexey has already admitted he believes his mother is dead.

Free divers rely on holding their breath underwater, rather than using aids such as scuba gear.

Will Trubridge, one of the most respected free divers in the world, tweeted on Sunday:

"The world lost its greatest free diver on Sunday, and my friend Alexey lost his dear mother and teacher."