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Odyssey Co-Founders File Rule 10b5-1 Selling Plan

TAMPA, FL - December 15, 2003 - Odyssey Marine Exploration, Inc. (AMEX: OMR), today announced that company co-founders, John Morris and Greg Stemm have established stock trading plans in accordance with guidelines specified by rule 10b5-1 under the Securities Exchange Act of 1934, and in accordance with the company's policies with respect to insider sales.

Rule 10b5-1 allows officers and directors of public companies to adopt predetermined plans for selling specified amounts of stock in order to gradually diversify portfolios.

Under the terms of their plans, Morris and Stemm may each sell up to 10,000 shares in each of the next 12 months. In addition, each plan allows for the exercise and sale of 50,000 shares underlying warrants that expire February 28, 2004. The founders' plans will not become effective until after the Company's next quarterly filing.

Morris stated, "Our optimism for the Company has never been higher but Greg and I are essentially 100% invested in Odyssey. Now that we have reached the important milestone of locating and beginning recovery of substantial amounts of valuable goods from the Republic, both Greg and I believe it is prudent to plan on utilizing a small portion of our portfolio for other purposes during the course of the next year".

About Odyssey Marine Exploration:

Odyssey is engaged in the archaeologically sensitive exploration and excavation of shipwrecks around the world. The company is currently conducting the archaeological excavation of the SS Republic, a sidewheel steamer that sank in 1865 with a large cargo of coins.

Odyssey has an additional project, HMS Sussex, ready to move into the archaeological excavation stage and two projects in the search stage. In addition, Odyssey has more than a dozen projects in various stages of development throughout the world and has a database of over 3000 additional potential shipwreck targets.

Additional information about Odyssey, its projects and equipment 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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