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Note: Odyssey Marine Exploration now trades on the American Stock Exchange (Amex) under the symbol OMR.

NATIONAL GEOGRAPHIC AND ODYSSEY MARINE EXPLORATION, INC. SIGN EXCLUSIVE AGREEMENT FOR HMS SUSSEX EXPEDITION

TAMPA (June 18, 2003)-National Geographic Television and Film (NGT&F) and Odyssey Marine Exploration, Inc. (OTC Bulletin Board: OMEX) have reached an agreement for exclusive documentary television coverage of the upcoming HMS Sussex Expedition. The Sussex was a large English warship that sank in the Mediterranean during a severe storm in 1694. Research indicates she was carrying a large cargo of coins when she was lost.

National Geographic is planning a two-hour nationally televised programming event. Pre-production has already begun and the final date for the broadcast will be subject to the progress of the archaeological excavation of the site believed to be the Sussex. The program will document the history of the ship and her crew, archaeological excavation of the shipwreck site and the search for the cargo of coins.

In addition to the television special, the agreement provides for the production of a one- hour documentary television program and home video/DVD release of the film by NGT&F. Also covered in the agreement are options for National Geographic to secure magazine rights, sponsor lectures, host the touring exhibition and participate in other Sussex media projects.

"The story of the Sussex and its excavation is really important, not only for the possible recovery of gold and artifacts, but also to test the viability of a new kind of public/private partnership in archeology. National Geographic is delighted to be covering this important expedition," said Tim Kelly, president of NGT&F.

"We know the Sussex has a fabulous story to tell - from the historical implications of her sinking to the high technology deep-ocean archaeological excavation of the ship and her cargo," said Greg Stemm, Odyssey co-founder. "National Geographic is the perfect media partner for this project and we're thrilled to have the opportunity to work with their world-class team."

HMS Sussex was a large 80-gun English warship lost in a severe storm in 1694. The story of her mission and effect upon the unfolding events of the late 17th and early 18th centuries presents a fascinating scenario to archaeologists, historians, and those with a general interest in European and international developments.

Built in the reign of William and Mary, HMS Sussex was escorting a large merchant fleet to the Mediterranean when she was lost. Research indicates that her Admiral also had orders to pay a large sum of money to the Duke of Savoy to continue the war against France. Evidence suggests that the payment, most likely consisting of tons of gold coins, was lost with the ship.

Odyssey signed an exclusive partnering agreement with the Government of the United Kingdom of Great Britain and Northern Ireland for the archaeological excavation of the British warship, HMS Sussex. Further exploration, identification and archaeological excavation of the shipwreck site believed to be HMS Sussex will begin as soon as the archaeological team is appointed, financing is finalized and the appropriate vessel, equipment and personnel are mobilized. At more than half a mile below the surface of the Mediterranean, it will be the deepest archaeological excavation of a shipwreck ever undertaken. Odyssey plans to be on-site in the Mediterranean Sea during the summer of 2003.

Odyssey Marine Exploration has several shipwreck projects in various stages of development throughout the world. More information about Odyssey Marine Exploration and the HMS Sussex is available at www.shipwreck.net.

Building on its global reputation for remarkable visuals and compelling stories, National Geographic Television & Film augments its award-winning documentary productions (119 Emmy Awards and more than 800 other industry awards) with feature films, large-format films and long-form television drama programming. Worldwide, National Geographic's television programming can be seen on the National Geographic Channel, MSNBC and PBS, home video and DVD, and through international broadcast syndication. The National Geographic Channel is received by more than 200 million households in 25 languages in 145 countries, including the United States. For more information about National Geographic Television & Film, log on to nationalgeographic.com, AOL Keyword: NatGeo.

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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. 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 February 28, 2003, which has been filed with the Securities and Exchange Commission.

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