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

ODYSSEY FINDS REPUBLIC GOLD

TAMPA, FL - November 07, 2003 - Odyssey Marine Exploration, Inc. (OTC Bulletin Board: OMEX) received a report yesterday from the Company's recovery vessel Odyssey Explorer that gold coins have been discovered on the site of the SS Republic. Shortly after commencement of archaeological excavation of the site, a substantial number of gold coins were revealed using Odyssey's Sediment Removal and Filtration (SeRF) system.

Approximately 80 loose coins and what appear to be at least two wooden crates containing unknown quantities of coins have been located in the area that Odyssey expected to find a cargo of specie. Very little excavation has taken place, so it is not known if any additional coins or boxes of coins will be found and recovered. There is insufficient information at this point to predict the condition of the coins or their potential value.

Once numismatic experts have had the opportunity to inspect the recovered coins, the company intends to release their reports detailing the number, condition and value of the recovered coins.

Odyssey Marine Exploration has several shipwreck projects in various stages of development throughout the world, including the Sussex and SS Republic projects. Additional information about Odyssey, the SS Republic 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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