Ascension Island is an isolated volcanic island, 7°56′ south of the Equator in the South Atlantic Ocean. Ascension Island was discovered by the Portuguese navigator João da Nova in 1501 and named Conception Island, but was rediscovered in 1503 on Ascension Day by Alphonse de Albuquerque and renamed. Ascension Island was garrisoned by the British Admiralty from 1815 to 1922. It was a so called dependency of St. Helena, which means, that it was ruled by the British colony St. Helena. Todays stamp from the first issue in 1922 is showing the portrait of King George V and a three – masted schooner.