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

THE ODYSSEY EXPLORER HEADS TO SEA

TAMPA, FL - September 23, 2003- Odyssey Marine Exploration, Inc. (OTC Bulletin Board: OMEX), a leader in the field of deep ocean shipwreck exploration, has completed the shoreside mobilization of the company's recently acquired ship, Odyssey Explorer. The ship left port on Sunday to conduct sea trials of the ship and ROV system before heading to the shipwreck site believed to be SS Republic.

The Odyssey Explorer is a 251 foot Class II dynamically positioned (DP) ship and state-of-the-art deep ocean archaeological platform. The centerpiece of Odyssey's system is ZEUS, a seven ton, 205 horsepower remotely operated vehicle (ROV). ZEUS is rated to 2,500 meters (8,200 ft) and has two Schilling seven-function Conan Force-Feedback manipulators, which provide for exceptional dexterity and fine control of delicate archaeological procedures.

Additional sea-bottom site measurement and positioning technology as well as archaeological recording and logging equipment have been integrated into the system to perform detailed archaeological excavation of the site.

The SS Republic was a sidewheel steamer that was lost in deep water in 1865 after battling a hurricane for two days. All the crew and passengers made it safely off the vessel, although a number of passengers eventually died on one of the rafts before they could be rescued. The ship, en route from New York to New Orleans, was reportedly carrying $400,000 in gold specie. Dr. Donald Kagin, considered one of the nation's foremost experts on American gold coins from that period, has estimated that the potential retail value of these coins in today's market could reach $120 million or more.

Pictures from the mobilization of the Odyssey Explorer and ZEUS are available at www.shipwreck.net.

Odyssey Marine Exploration has several shipwreck projects in various stages of development throughout the world, including the Sussex and SS Republic projects. The company has signed an exclusive partnering agreement with the Government of the United Kingdom for the archaeological excavation of the British warship HMS Sussex. Operations on the Sussex are planned to begin following the excavation of the SS Republic.

Additional information about Odyssey, the SS Republic and HMS Sussex projects, ZEUS and the Odyssey Explorer is available at www.shipwreck.net.

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The Company believes the information set forth in this Press Release may include "forward-looking statements." 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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