U.S. SHIP CAPTAIN RESCUED, 3 PIRATES DEAD 1 IN CUSTODY

(CNN) -- The American captain of a cargo ship held hostage by pirates jumped overboard from the lifeboat where he was being held, and U.S. Navy SEALs shot and killed three of his four captors, according to a senior U.S. official with knowledge of the situation.

Capt. Richard Phillips escaped from pirates holding him in a lifeboat, a U.S. official said Sunday.

Capt. Richard Phillips escaped from pirates holding him in a lifeboat, a U.S. official said Sunday.

Capt. Richard Phillips was helped out of the water off the Somali coast and is uninjured and in good condition, the official said. He was taken aboard the USS Bainbridge, a nearby naval warship.

At the time of the shootings, the fourth pirate was aboard the Bainbridge negotiating with officials, the source said. That pirate was taken into custody.

Maersk Line Limited, owner of the cargo ship that Phillips captained, issued a statement saying it was informed at 1:30 p.m. by the U.S. government that he had been rescued. John Reinhart, president and CEO, called Phillips' wife, Andrea, to tell her the good news.

Crew members from the ship, the Maersk Alabama, were "jubilant" when they received word, the statement says.

"We are all absolutely thrilled to learn that Richard is safe and will be re-united with his family," Reinhart said. "Maersk Line Limited is deeply grateful to the Navy, the FBI and so many others for their tireless efforts to secure Richard's freedom."