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Odyssey's HMS Sussex Project Update

Preparations for Mobilization Continue with Upgraded Manipulator Capabilityy

TAMPA, FL - May 06, 2004 - Odyssey Marine Exploration, Inc. (Amex: OMR) a leader in the field of deep ocean shipwreck exploration, has placed an order for a pair of Schilling Titan 3 manipulator arms with integrated positioning sensors and software. The $400,000 upgrade to Odyssey's Remotely Operated Vehicle (ROV) will allow the Odyssey archaeological team on the Sussex project to more easily record the x, y and z position of artifacts as they are recovered.

The seven-function manipulators from Schilling Robotics are constructed primarily from titanium and provide the dexterity and accuracy necessary to perform the fine movements needed for complex archaeological work. Three dimensional positional feedback has never been incorporated into manipulators for archaeological work in this manner before. The manipulator arms are scheduled to be delivered by the end of the month.

"The integrated positioning sensors on the T3 arms are the perfect solution for gathering the complex and precise archaeological data necessary on an important project like the Sussex." stated Greg Stemm, Odyssey co-founder. "The new manipulators will also give our ROV operators increased flexibility and range of motion as they perform delicate operations on the Sussex site nearly 3000 feet deep. After the months of work we have done on the Republic, there is a lot we have learned about robotic excavation techniques, and the result of all the knowledge is now being used to upgrade a number of systems on ROV's to make them better archaeological tools."

HMS Sussex was a large 80 gun English warship lost in a severe storm near the Straits of Gibraltar in 1694. Research suggests that the Sussex was carrying a large cargo of money when she sank. Odyssey believes that it has located the shipwreck of HMS Sussex and has signed an exclusive partnering agreement with the Government of the United Kingdom for the archaeological excavation of the shipwreck.

Odyssey Marine Exploration is an American Stock Exchange Company (Ticker symbol: OMR) with several shipwreck projects in various stages of development throughout the world, including the SS Republic and HMS Sussex projects. The company's vessel Odyssey Explorer is currently conducting the archaeological excavation of the SS Republic and the company's second ship, RV Odyssey, is conducting search operations on a number of additional projects in the Atlantic ocean.

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" 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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