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Odyssey Shipwreck & Treasure Attraction To Open In New Orleans

French Quarter Attraction to Feature New Orleans-bound SS Republic Shipwreck

Tampa, FL - June 8, 2005 - Odyssey Marine Exploration, Inc. (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, announced today that its subsidiary, Odyssey Marine Entertainment, Inc., will open an interactive shipwreck and treasure attraction in the French Quarter this summer.

Located in the Jax Brewery, Odyssey's Shipwreck & Treasure Adventure will appeal to the universal public fascination with shipwrecks and sunken treasure. The attraction will reveal the compelling stories behind some of the world's most famous shipwrecks, their treasure and historical artifacts, and will allow visitors to experience the adventure and excitement of deep-ocean shipwreck exploration through multiple hands-on exhibits.

The attraction will feature the SS Republic, a Civil War-era ship with an intriguing connection to New Orleans. The ship sank in a hurricane off the coast of Georgia while sailing from New York to New Orleans in 1865. Odyssey discovered the Republic nearly 1,700 feet below the surface of the Atlantic Ocean in the summer of 2003 - nearly 138 years after the ship went down. More than 51,000 gold and silver coins, and approximately 13,000 additional artifacts, were recovered in the world's most extensive deep-ocean archaeological excavation.

The attraction will also tell the enthralling stories of SS Republic passengers, one of whom was Charles Sauvinet, the longest serving African American in the Union Army. Sauvinet was headed to New Orleans to take a job with the Freedman's Bank in 1865. After the Republic sank, he was rescued on a lifeboat 100 miles off the coast of Georgia. Sauvinet eventually made his way to New Orleans, where he went on to become the first African American to serve as Orleans Parish Civil Sheriff.

Odyssey's Shipwreck & Treasure Adventure was painstakingly designed to appeal to both adults and children, and to advanced or amateur ocean explorers alike. The attraction will showcase the history, personal stories, artifacts, coins, high-definition film and images from the SS Republic shipwreck. It will also feature interactive exhibits that present the methods and technologies Odyssey uses to conduct deep-ocean shipwreck searches and archaeological excavations.

Some of the attraction's interactive exhibits include a weather and science station where visitors can build, sink and recover model ships, consoles to pilot a Remotely Operated Vehicle (ROV) and operate the manipulator arms used to pick up objects in the deep ocean, a wind tunnel that allows visitors to experience hurricane-force winds, a search exhibit in which sunken ships can be found using sonar and other technologies, and a display to learn about the treasures Odyssey has uncovered thousands of feet underwater. The adventure offers something to engage and intrigue every member of the family.

"When John Morris and I founded Odyssey Marine Exploration in 1994, we dreamed of being able to share the excitement of shipwreck exploration with the public. Odyssey's Shipwreck & Treasure Adventure makes that long-held dream a reality. This new attraction will reveal a fascinating, behind-the-scenes look into how we find shipwrecks and their amazing treasure, artifacts and cargo. We think visitors will find the highly interactive approach to shipwreck exploration to be very entertaining," said Greg Stemm, co-founder of Odyssey Marine Exploration.

John Morris, co-founder of Odyssey Marine Exploration, added "We're proud to make New Orleans the first location of our shipwreck and treasure attraction. This not only brings the intriguing world of shipwreck exploration to the public, but it's also a strategic step toward realizing our long-term business plan for the Company. The attraction demonstrates how we intend to leverage future shipwreck discoveries into public exhibits, merchandising opportunities, and other entertainment possibilities such as books, films and TV specials."

George Becker, President and CEO of Odyssey Marine Entertainment, observed "We think residents and visitors to New Orleans will find Odyssey's Shipwreck & Treasure Adventure to be a fun, hands-on look into the thrilling world of deep-ocean shipwreck exploration. And our focus on the New Orleans-bound SS Republic shipwreck will truly make the astonishing story behind the ship and her treasure all the more compelling to the New Orleans market."

Odyssey's Shipwreck & Treasure Adventure is scheduled to open in the Summer of 2005. Cost will be $13.95 for adults and $8.95 for children ages 4-12. Annual passes will be available for $28 for adults and $18 for children (ages 4-12), Seniors (age 60 and above) $24. For more information about the New Orleans attraction, please visit www.shipwreckandtreasure.com.

For additional information about Odyssey Marine Exploration, please contact John McNeilly, the Company's Manager of Corporate Communications, at 813-876-1776.

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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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