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Odyssey Appoints Davis Howe Chief Operating Officer

TAMPA, FL - July 23, 2004 - Odyssey Marine Exploration, Inc (AMEX:OMR), a leader in the field of deep ocean shipwreck exploration, has appointed Davis D. Howe Chief Operating Officer (COO) effective immediately. Howe specializes in assisting public companies grow from the developmental and early revenue generating stages to successful operational companies maximizing revenues and earnings. Howe succeeds George Becker, who has been appointed Executive Vice President and will be concentrating on the development of Odyssey's planned traveling and fixed attractions.

"In the past year, Odyssey has accomplished many business plan milestones and has grown at a tremendous rate. We're very fortunate to have the benefit of Davis Howe's skills and experience as Odyssey transitions from a small entrepreneurial operation to a larger corporation with more diverse operational issues," stated John C. Morris, Odyssey co-founder and CEO. "As we move closer to the realization of our attraction plans, the addition of Davis allows George Becker to focus on the design and development of both fixed and traveling exhibits."

Davis Howe has held senior management positions at several major public companies including Nextel Communications (NASDAQ: NXTL), Aerial Communications (merged with VoiceStream and Omnipoint) and Intermedia.

"Odyssey has incredible potential and a talented core team in place," stated Davis Howe. "I'm looking forward to taking their vision to the next level and beyond. I believe in this company and its potential to vastly increase revenue, earnings and shareholder value."

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, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. 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 29, 2004, which has been filed with the Securities and Exchange Commission.

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