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Odyssey Marine Exploration's Ship Cleared

Research Vessel Odyssey Explorer Prepares to Depart Spanish Port Today


Tampa, FL - October 19, 2007 - Odyssey Marine Exploration, Inc.'s (NASDAQ:OMEX) recovery vessel, Odyssey Explorer, has been cleared by a Spanish Judge and Harbor authorities to depart from the port of Algeciras, Spain after Spanish authorities conducted a thorough inspection of the ship. The ship will shortly be en route to another port where she will be mobilized and then resume shipwreck search and archaeological recovery operations.

"We're pleased that the Spanish authorities were able to conduct their inspection so efficiently," commented Greg Stemm, Odyssey Co-Chairman and Co-Founder. "We hope that the evidence gathered makes it clear to authorities that we did not conduct any unauthorized operations in Spanish territorial waters, as alleged by outlandish claims made in the press. We also look forward to resolving any outstanding issues with the Kingdom of Spain over the "Black Swan" site in U.S. Federal Court in the near future and are prepared to share extensive documentation about the site pursuant to the offer made in our filings before the Judge.

"We have always shown the utmost respect for Spain's cultural heritage and are prepared to provide Spanish authorities with the archaeological data gathered about shipwreck sites discovered during authorized and legal operations in the deep waters of the Alboran Sea in the Western Mediterranean. This information will be useful in documenting and protecting these valuable sites in the future," commented Stemm.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc. is engaged in the exploration of deep-water shipwrecks and uses innovative methods and state-of-the-art technology to conduct extensive deep-ocean search and archaeological recovery operations around the world. Odyssey discovered the Civil War era shipwreck of the SS Republic in 2003 and recovered over 50,000 coins and 14,000 artifacts from the site nearly 1,700 feet deep. In May 2007, the Company announced the largest historic shipwreck find of over 500,000 silver and gold coins, weighing 17 tons, from a deep ocean site code-named "Black Swan". Odyssey has several shipwreck projects in various stages of development around the world. .


Odyssey offers various ways to share in the excitement of deep-ocean exploration by making shipwreck treasures and artifacts available to collectors, the general public and students through its webstore, exhibits, books, videos, merchandise, and educational programs. Odyssey's "SHIPWRECK! Pirates & Treasure" exhibit recently opened at the Tampa Museum of Science and Industry. For details on the Company's activities and commitment to the preservation of maritime heritage please visit 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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