One of the passengers, a Waverley man, 30, died at the Launceston General Hospital late yesterday.

The other, a Ravenswood man, 29, is in a serious but stable condition in intensive care with internal injuries.

Inspector Darren Hopkins said police were looking for two people, believed to be the driver and front-seat passenger, who left the crashed silver Nissan wagon before police arrived.

``We're very interested in finding anyone who would leave their mates in that condition,'' Inspector Hopkins said.

Police say the car was travelling towards Launceston on the East Tamar Highway about 1.20am when it left the road and crashed into gum trees just below the Australian Maritime College campus. Two trees were knocked out of the ground.

Inspector Hopkins said the car had not been reported stolen but the registered owner was not among those believed to be in the car at the time of the crash.

Anyone with information can contact police on 131 444 or Crime Stoppers on 1800 333 000.