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Odyssey Marine Appoints New Director

TAMPA, FL - February 1, 2006 - Odyssey Marine Exploration, Inc. (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, announced today the appointment of Dr. David J. Bederman to serve as a Director of the Company.

Dr. Bederman, 44, is a professor of law at Emory University in Atlanta, Georgia. Since 1991, he has taught international law, admiralty, international institutions, law of international common spaces, legal methods, customary law, as well as seminars on international environmental law and foreign relations power. In addition, he serves as adviser to the Emory International Law Review and is the Director of International Legal Studies at Emory's Law School.

Dr. Bederman also leads a private practice and has provided legal counsel to Odyssey since 1998. In private practice, he has been involved with many cases involving maritime law and shipwreck disputes, and has represented clients in the federal courts of appeals, including the U.S. Supreme Court.

"David brings a tremendous depth of knowledge and experience in international admiralty laws and is already familiar with the types of complicated issues Odyssey faces on a day to day basis," said John Morris, Odyssey Co-founder and Chairman of the Board. "As we continue to implement our strategic business plan to discover and archaeologically excavate shipwrecks throughout the world, David's leadership and guidance will prove invaluable to the Company and its shareholders."

As well as being a full-time teacher, Professor Bederman continues to represent clients on important constitutional and international law issues, including a number of cases before the U.S. Supreme Court and significant international arbitrations. He has served as a litigation consultant to the U.S. Departments of Justice, State, Treasury and numerous federal agencies. He has advised clients on issues relating to underwater cultural heritage issues, sovereign immunity questions, and property rights matters. Professor Bederman's research interests also include legal theory and history, admiralty and maritime law, and federal practice and procedure.

After having earned an undergraduate degree from Princeton University in international affairs (with highest honors), he went on to receive an M.Sc. in Marine Affairs at the London School of Economics. Professor Bederman read law at the University of Virginia, and, after graduating, clerked with the Hon. Charles E. Wiggins, Judge of the U.S. Court of Appeals for the Ninth Circuit. Professor Bederman's academic and professional career has focused on international law and its practical impact on American government.

In addition, he is an acknowledged authority on the protection of property rights and the management of natural resources. Aside from holding the coveted Diploma of the Hague Academy of International Law, as well as a Ph.D. in Law from the University of London, he has also served as a Legal Advisor at the Iran-U.S. Claims Tribunal in The Hague. He is a member of the Board of Editors of the American Journal of International Law. After a stint in private practice with the Washington firm of Covington & Burling, he accepted his current teaching appointment at Emory. He has been a visiting professor at the University of Virginia's and New York University's law schools. In 2001, he was appointed as a Fulbright Distinguished Chair for Canada, lecturing on international and constitutional law at Osgoode Hall Law School, in Toronto.

Odyssey Marine Exploration is an American Stock Exchange Company (Ticker symbol: OMR) with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects and technologies, 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 for the year ended December 31, 2004, which has been filed with the Securities and Exchange Commission.

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