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Odyssey Posts "Odyssey Update"

TAMPA, FL - August 20, 2004 - Odyssey Marine Exploration, Inc (AMEX:OMR), a leader in the field of deep ocean shipwreck exploration, has posted an on-line "Odyssey Update" on their website at www.shipwreck.net . Team members covering areas such as search and excavation operations, conservation activities and attraction planning have contributed to the update, which includes text and pictures.

The "Odyssey Update" also includes an excavation status site map of the SS Republic shipwreck. This map is divided into one meter square grids and shows that the bow and stern sections of the site have been excavated and that the midship section remains to be completed. The excavated sections represent approximately 75% of the portions of the site planned for excavation.

The update also includes pictures of some of the approximately 10,000 artifacts that have been recovered to date.

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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