Rescuers plucked three people from the ocean 65 miles off southern New Jersey after the sinking of the Lady Mary, a 71-foot fishing boat based in Cape May and carrying seven people.
One was dead, another unresponsive and a third conscious and alert, said Senior Petty Officer Stephen Carleton, a Coast Guard spokesman.
Helicopters are searching for four others who were on board the ship, he said.
Rescuers received a transmission from an emergency radio beacon around 7:30 a.m. and launched helicopters to search for survivors.
When the first helicopter reached the spot where the transmission originated, rescuers found an empty life raft and three people in the water, all wearing lifesaving suits, he said.
The three were hoisted aboard a helicopter and taken to a hospital, where one was confirmed dead. A second was unresponsive; his condition was not immediately available. The third person rescued was conscious and alert.
It wasn't immediately clear how long were in the water.
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