Oct 3, 1998 update
I've not heard anything about this for the last year or so. So I have to assume that the operations have either been postponed or cancelled.
Recent news in the British press say that the British Ministry of Defence has awarded a salvage contract to a firm that promises to raise most if not all of the boats sunk in Operation Deadlight in 1945-1946. The boats are said to rest on the water bed at depths of roughly 90 meters.
While this may sounds strange at first (surely did to me) but one of the reasons, I am told, may be that pre-atom age metals (like WWII U-boats) are extremely valuable today for various researches. Many warships have been partly raised to extract these metals from them and now it appears that these 116 U-boats are destined to visit the scrap ports. I can only hope that if they can raise one good-shape type XXI (U-2511 for example) boat that she can be restored after the operations.