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Odyssey SS Republic Project Update

Odyssey Retains Kagin as Chief Numismatist

TAMPA, FL - February 26, 2004 - Odyssey Marine Exploration, Inc. (Amex: OMR) a leader in the field of deep ocean shipwreck exploration, has retained ThinkEquity Partners LLC to provide strategic advisory and investment banking services.

"Odyssey has made great strides in the past six months, including a move to the American Stock Exchange," explained John Morris, Odyssey co-founder and CEO. "ThinkEquity is ready to help us continue this forward momentum as we refine our communication with institutional investors."

ThinkEquity Partners LLC is a full service boutique investment banking firm specializing in growth companies. It has offices in San Francisco, New York, Chicago, Minneapolis, Tampa and Boston. For more information go to

Odyssey Marine Exploration is an American Stock Exchange Company (Ticker symbol: OMR) engaged in the archaeological exploration and recovery of deep-water shipwrecks throughout the world. The company has several projects in various stages of throughout the world, including the SS Republic project.

The SS Republic was a side wheel steamer that sank in 1865 while en route from New York to New Orleans after battling a hurricane for two days. Odyssey discovered the shipwreck 1,700 feet below the surface of the Atlantic Ocean approximately 100 miles off the Georgia coast. The archaeological excavation of the shipwreck began in November of 2003 and is continuing.

Among the coins already retrieved from the Republic are numerous gold eagles, gold double eagles, silver half dollars and even a few quarters, nearly all dating between the 1840's and 1865. Unlike other recently salvaged shipwrecks, a wide variety of dates and mints have been noted in this find. Based on the pieces recovered thus far that have been professionally conserved by NCS and graded and encapsulated by NGC, this collection already includes several finest-known examples of United States gold and silver coins from the period. While excavation has already uncovered thousands of coins, there is insufficient information at this point to predict the total value of the shipwreck and its cargo.

Additional information about Odyssey, its projects and equipment is available at

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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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