Enc.: 0.1 <0 if worn?>	Item Save: <metal, soft>		XP: 1k	GP: 5k
Rings	-	Magic Items	-	DMG

This ring enables the wearer to MOVE && attack freely and normally whether attacked by a web, hold, or slow spell,

    or even while under water.

In the former case the spells have no effect,

    while in the latter the individual moves at normal (surface) SPEED and
    does full damage even with such cutting weapons as axes and scimitars
    and with such smashing weapons as flails, hammers, and maces, insofar
    as the weapon used is held rather than hurled. This will not, however,
    enable water breathing without the further appropriate magic.
 

WSG: The wearer of this ring can MOVE and otherwise
operate as if he was not encumbered, unless he is actually severely
encumbered, in which case he can operate as if moderately
encumbered. Wearing this ring does not enable a character
to carry more encumbrance than he can normally; if such an attempt
is made, the power of the ring is negated until the wearer
rids himself of the excess baggage. The ring does not change the
character’s actual encumbrance value, so that if he is astride a
mount, his presence has its normal effect on the animal’s ability
to carry encumbrance.
 

<only piercing weapons (P) do damage underwater>
    <unless you are wearing a ring of free action!>
<(UA) theory : basically, human-types underwater always lose initiative,
unless they are armed with a significantly longer (incl. longer range) piercing weapon than their underwater opponents : based on DMG.56>
    <unless you are wearing a ring of free action!>