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Odyssey Marine Exploration On
Preliminary Russell 3000® Index

Russell Index to be Formalized June 22th, 2007

Tampa, FL - June 12, 2007 - Odyssey Marine Exploration (AMEX: OMR), the world's leader in the field of deep-ocean shipwreck exploration, has been added to the preliminary list of companies scheduled to constitute part of the Russell 3000 Index.

Final index membership will take effect on Friday, June 22, 2007 and remain in place for the ensuing 12-month period. Russell has posted the annual list of preliminary index additions, which include Odyssey Marine Exploration, on www.russell.com.

"Being included in the Russell equity indexes is a validation of our continued effort to build shareholder value. Russell's unbiased, market-driven analyses for determining eligible stocks for these well-known indexes will give Odyssey Marine Exploration wider exposure to the investment community, allowing us to reach out to constituencies who are not yet familiar with our story, and thus to broaden our shareholder base," said John C. Morris, President and CEO of Odyssey Marine Exploration.

The annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks at the end of May, ranking them by market capitalization. After the new banding rules are applied, the largest 1,000 companies in the ranking comprise the large-cap Russell 1000, while the following 2,000 companies comprise the small-cap Russell 2000 and the bottom 2,000 stocks move into the Russell Microcap.

For additional information, please contact Natja Igney, Odyssey's Manager of Corporate Communications, at 813-876-1776 ext 2553.

About Russell:
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.

Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company and headquartered in Tacoma, Wash. Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.

About Odyssey Marine Exploration:
Odyssey Marine Exploration is a Publicly Traded US Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, the SS Republic shipwreck, the "Black Swan" project, and the Company's other activities is available at www.shipwreck.net.

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Odyssey Marine Exploration 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" in the Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2006, which has been filed with the Securities and Exchange Commission.

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