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Odyssey Appoints Michael J Holmes Chief Financial Officer

TAMPA, FL - MAY 24, 2004 - Odyssey Marine Exploration, Inc (AMEX:OMR), a leader in the field of deep ocean shipwreck exploration has appointed Michael J. Holmes as Chief Financial Officer, effective immediately. Holmes replaces Michael V. Barton, who will remain with Odyssey to work on various projects relating to corporate structure and growth.

"Mike Barton joined Odyssey two years ago to help raise the capital necessary to implement our business plan and grow the company to the next level - and he did a terrific job," stated John Morris, Odyssey co-founder and CEO. "We are now beginning to generate significant revenue, which means the focus of the CFO position must shift. We're pleased to have the benefit of Mike Holmes' extensive financial and audit experience from his previous posts in public companies that generated large revenue streams."

"My time as CFO at Odyssey has been a fantastic experience and I'm proud of the company I helped to build," explained Michael Barton. "With the success of the SS Republic project, significant coin sales and planned traveling exhibit and attraction development, it is time to get someone in this position that has lived through the same type of growth before - and I am delighted to have Mike Holmes taking over for me. I'm looking forward to working on future growth opportunities for Odyssey."

Holmes has more than 25 years experience in financial management with Anheuser-Busch Companies, Inc. including Vice President Finance at SeaWorld Orlando; Vice President Finance at Busch Gardens Tampa Bay; Vice President Finance and CFO for Exploration Cruise Lines in Seattle, Washington and Director Internal Audit Services for Anheuser-Busch in St. Louis. He has served as Controller for Odyssey Marine Exploration since March 2004, when he joined the company to assist in development of tourist attraction financial models and internal audit controls at the company.

After receiving an undergraduate degree in Business Administration/Accounting from the University of Missouri, Holmes earned his MBA from Crummer Graduate School of Business at Rollins College in Orlando. He has also served as an adjunct professor of Accounting at the Rosen School of Hospitality Management, University of Central Florida in Orlando and has been active in community leadership positions to include board member of the Orlando Regional Chamber of Commerce, the ETC of Central Florida (International Drive Transportation Group) and Junior Achievement of Tampa Bay. He is currently serving on the Crummer Graduate School of Business Alumni Board and is a graduate of Leadership Tampa. Additional information about Michael Holmes is available at www.shipwreck.net/managementteam.html.

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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