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Odyssey Marine Exploration Announces New Entertainment Subsidiary

Odyssey Marine Entertainment to Manage Shipwreck Attractions, Merchandise Programs, Publications

TAMPA, FL - June 3. 2005 - Odyssey Marine Exploration (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, announced today that it has created an entertainment division - Odyssey Marine Entertainment, Inc. - to develop, launch, and manage shipwreck-themed public attractions, merchandise programs, and publishing efforts.

Odyssey Marine Entertainment, Inc. will be responsible for shipwreck attractions that entertain and educate audiences of all ages through highly interactive displays that showcase shipwrecks, their treasures, artifacts and fascinating stories. The exhibits will also feature the Company's compelling research, advanced technologies, and science behind the field of deep-ocean shipwreck exploration. Odyssey Entertainment plans to open its first attraction this summer.

The subsidiary will manage the development and distribution of several merchandise programs including shipwreck gifts and memorabilia, artifact reproductions, nautically themed products, giftware, photography, art and jewelry.

Odyssey Entertainment also manages Shipwreck Heritage Press LLC, an Odyssey subsidiary responsible for the development and distribution of books related to Odyssey Marine's shipwrecks, underwater archaeology, coins and artifacts, and shipwreck methodologies including research, search, recovery and conservation.

"The creation of Odyssey Entertainment is yet another step toward fully implementing our long-term strategic business plan. We are effectively leveraging our SS Republic discovery to open shipwreck attractions, market coins, artifact replicas, artwork, books, movies, and other entertainment features. This business model demonstrates how we plan to strategically manage additional shipwreck discoveries the Company makes over the coming years," said John Morris CEO and co-founder of Odyssey Marine Exploration.

Odyssey Entertainment's management team includes:

  • George Becker, President & CEO. Mr. Becker has thirty years experience in theme park operations. He spent twenty-two years managing Sea World parks throughout the U.S., serving as Executive Vice President of Sea World Inc.; Chairman and Chief Executive Officer, Sea World of Texas; President and Chief Executive Officer of Sea World of California; and, President and Chief Executive Officer of Sea World of Florida.
  • Roger Kurz, Executive Vice President. Mr. Kurz has 25 years of attraction development and marketing experience, including six years as Director of Marketing for Walt Disney World and ten years in marketing and general management positions for Sea World properties including Sea World of Florida, Boardwalk and Baseball, and Florida Festival.
  • Sam Hutchins, Vice President, Merchandise Programs. Mr. Hutchins has over 30 years experience in the retail industry in the areas of strategic planning, retail operations, buying, product development and store design. He worked for the Walt Disney Company for 22 years and had a diverse career covering all facets of retail including overall responsibility for the retail line of business at Tokyo Disneyland and Paris Disneyland.

Odyssey Entertainment's Officers and Board of Directors are: George Becker, President and Director; Mike Holmes, Chief Financial Officer and Director; David Morris, Secretary and Treasurer; John Morris, Director; and Robert Hillebrecht, Director.

Mike Holmes, Chief Financial Officer for Odyssey Marine Entertainment is also the CFO for Odyssey Marine Exploration. He has 25 years financial management experience with themed attraction groups, including serving as Vice President of Finance, Sea World Orlando; Vice President of Finance, Busch Gardens, Tampa; Vice President Finance & CFO, Exploration Cruise Lines, Seattle; and, Director of Internal Audit Services, Anheuser-Busch, St. Louis. He brings extensive financial experience to help manage and guide Odyssey's and its subsidiaries financial growth and compliance with the ever-increasing rules and regulations for public companies.

David Morris, Secretary & Treasurer of Odyssey Marine Entertainment holds the same title at Odyssey Marine Exploration, where he has been instrumental in organizational structure and financial accounting and reporting since 1997. He has more than 15 years experience in the deep ocean industry.

John Morris, Director of Odyssey Marine Entertainment, is co-founder, President and CEO of parent company Odyssey Marine Exploration, a worldwide leader in the field of deep ocean shipwreck exploration.

Robert Hillebrecht Director of Odyssey Marine Entertainment has extensive credentials in the themed attractions business. From 1967 through 1985, he held several high-ranking financial management and operational positions with Harcourt Brace Jovanovich, Inc. (HBJ). In 1976, he led HBJ's acquisition of Sea World with parks in San Diego, CA, Orlando, FL, and Cleveland, OH, and served as their Chairman and Chief Executive for nine years. From 1994-1998, he was a principal with the Leisure Development Group, providing operational and business planning consulting to numerous visitor attractions, aquariums, and development projects.

"Our team has decades of experience developing and managing themed attractions, merchandising, and publications. We look forward to leveraging this collective knowledge to make Odyssey's fascinating shipwreck efforts widely known and accessible to everyone. Whether its attending a shipwreck attraction, purchasing a shipwreck-themed item, or reading one of our books, we intend to share our tremendous excitement about deep-ocean shipwreck exploration with what we believe will be an enthusiastic public," said George Becker, President and CEO of Odyssey Marine Entertainment.

About Odyssey Marine Exploration

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 "Atlas" and Sussex projects. Additional information about Odyssey, its projects and equipment is available at www.shipwreck.net.

For more information, please contract John McNeilly, Manager of Corporate Communications, at 813-876-1776 (extension 2553).

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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 December 31, 2004, which has been filed with the Securities and Exchange Commission.

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