So exporting the models from OG Hostile Waters (I'll refer to this just as OGHW from now on) takes quite a bit of work.
Models from OGHW are serialised but I can extract the raw data from these files. It gives me quite a lot of stuff but I'm only interested in the Vertices of the model. I created a quick and dirty vba script in excell to so most of the heavy lifting for me cleaning the data to the point where I can copy and paste verts and faces into notepad and save it as a obj.
It dose not really comply with the standards for the obj file type so 3DS wont open it directly, but Meshlab will. From Meshlab I save to a .3ds and then I can open in max.
All faces are deleted without removing the verts, then its a case of playing dot-to-dot in 3d until a model emerges from the could of points.