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Odyssey Marine Exploration Officially Listed On Russell Indexes

Odyssey added to Russell 3000, Russell 2000, and Russell Microcap Indexes

Tampa, FL - July 05, 2005 - Odyssey Marine Exploration (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, has been officially included in the Russell 3000, the Russell 2000, and the new Russell Microcap Indexes.

The final index listings were formally announced by Russell Investment Group on Friday, July 1, 2005. The Russell Group has posted the final membership lists, which include Odyssey Marine Exploration, on www.russell.com.

"Odyssey Marine is thrilled to be formally accepted for inclusion in the Russell equity indexes. This provides our Company important exposure and we're looking forward to sharing our unique story with a broader audience of investors," said John Morris, CEO of Odyssey Marine Exploration.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index. Annual reconstitution of Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000.

About Russell Investment Group

Russell, a global leader in multi-manager investment services, provides investment products and services in more than 39 countries. Russell manages more than $135 billion in assets and advises clients worldwide representing $2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.

About Odyssey Marine Exploration

Odyssey Marine Exploration is an American Stock Exchange Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects and methodologies, is available at www.shipwreck.net.

For additional information, please contact John McNeilly, Odyssey's Manager of Corporate Communications, at 813-876-1776.

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The Company believes the information set forth in this Press Release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors," and "Business" in the Company's annual report on Form 10KSB/A for the year ended December 31, 2004, which has been filed with the Securities and Exchange Commission.

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