News & Media
Press Release Archive
Media Room

Odyssey Marine Exploration Files Admiralty Claims on Two Shipwreck Sites

Tampa, FL – November 7, 2008 -- Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), the world leader in the field of deep-ocean shipwreck exploration, has filed Admiralty Arrest Complaints in the U.S. District Court for the Middle District of Florida on two separate shipwreck sites recently located by the Company.

Both sites lie in the North Atlantic Ocean beyond the territorial waters or contiguous zone of any sovereign nation, over 300 miles from the entrance to the English Channel. The sites are both believed to be the remains of steel hulled vessels. Odyssey believes that valuable cargo may be located at or near both sites, but pending confirmation of the identity of the shipwrecks and identification of potential claimants, additional information will not be released.

As with other shipwreck sites that the Company arrests, once the identity of the shipwrecks are reasonably confirmed, any potential claimants identified through Odyssey’s research will be notified through appropriate private or public notices.

“The operation to locate and identify these shipwrecks was undertaken with a chartered ship and some new equipment and technology that we are testing for application on future projects while the Odyssey Explorer and Ocean Alert undergo their 5 year surveys and drydock, which we expect to take several months,” commented Greg Stemm, Odyssey’s CEO, “We have been impressed with the performance and seaworthiness of the ship and equipment we’re testing and plan to extend operations further into the winter than we have tried in the past.”

About Odyssey Marine Exploration, Inc.

Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX) is engaged in the exploration of deep-ocean shipwrecks and uses innovative methods and state-of-the-art technology to conduct extensive 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 historic deep-ocean treasure recovery of over 500,000 silver and gold coins, weighing 17 tons, from a Colonial era site code-named "Black Swan." Odyssey has several shipwreck projects in various stages of development around the world.

# # #

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.

Home | Contact Us | Sitemap | Privacy Policy | Careers