"We'd all like to see the
Sussex moving ahead as scheduled, but we have other projects that
could prove as valuable to Odyssey as the potential of the Sussex, and
we do not believe they are subject to sovereign immunity, which moves
them to the top of our list."
"Our goal over the long run is to become the world's leading
shipwreck exploration firm, in part by providing deep-ocean cultural
heritage management services to governments of the world, in addition
to our own private projects," added John Morris, Odyssey's co-founder
and CEO.----Odyssey Marine
Exploration, Inc. (AMEX:OMR), a leader in the field of deep ocean
shipwreck exploration, has completed an extensive target development
program for its 2005 search season.

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By the end of April, it is anticipated that sufficient preliminary
survey work will have been accomplished on at least three of the
shipwrecks located in the western Mediterranean to provide Odyssey's
research department sufficient artifacts and information to determine
whether to continue excavations.

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Business Editors

TAMPA, Fla.

Archaeology is the systematic recovery and study of material evidence , such as graves, buildings, tools, and pottery, remaining from past human life and culture.

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net
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.

shreve petroglyph

One ship will concentrate on search efforts while the other
ship investigates and excavates targets.
Odyssey Marine Exploration is an American Stock Exchange Company
(Ticker symbol:OMR) with several shipwreck projects in various stages
of development throughout the world.

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mesoamerica gregath

HMS Sussex Project Update

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The search will be undertaken from a 230-foot survey ship,
which Odyssey has leased with an option to purchase, specially
outfitted with a newly designed search system that allows Odyssey to
search twice the area at double the resolution of all previously
employed search technologies.

inka etruscan

"While we believe operations could legally resume on the
Sussex at this time, the long-term growth of the Company is best
served by cooperating with the UK and Spain to show our good faith and
ability to allow for cooperation on sovereign immune shipwrecks. Because of this, archaeological documentation and excavation
of each site can be started immediately upon discovery.

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Odyssey's Spanish counsel received a report that indicated that
after high-level intergovernmental meetings planned for later this
month, the Company should be able to resume work on the Sussex with
the cooperation of the appropriate authorities. We've
got enough projects on our plate right now to allow us to be
flexible."
Odyssey Marine Exploration is an American Stock Exchange Company
(Ticker symbol: OMR) with several shipwreck projects in various stages
of development throughout the world.

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At least
two may have potential value on par with the estimated value of the
Sussex.

mesoamerica gregath

Business Editors/Odyssey Marine
Exploration, Inc.

archaeologist egyptologist

After finishing preliminary excavations on these shipwrecks, the
Odyssey Explorer will either continue the Sussex operations, or begin
work on sites discovered in our 2005 search program, code-named the
"Atlas " project.
"We can work on the Sussex any time of year and it's presently
protected from anyone else by our exclusive agreement with the UK. Odyssey has an exclusive
partnering agreement with the Government of the United Kingdom for the
archaeological excavation of the shipwreck believed to be HMS Sussex.

Odyssey Announces 2005 Search Program

intinerary penisula

"
Odyssey's "Atlas" Project includes five high-value shipwreck
targets which are beyond any countries' territorial waters and are not
believed to be subject to sovereign immunity, so they can be
archaeologically excavated immediately upon their discovery. 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. Additional information about
Odyssey, its projects and equipment is available at
http://www.

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"One of the factors
that makes these targets so attractive is that we believe that they
are not subject to reasonable ownership claims by any government or
private parties.

intinerary etruria

etruscan andante

It is anticipated the entire area of possibility for these five
sites, some of which overlap, can be searched completely during
approximately 12 months of search operations , which are scheduled to
begin in April 2005.net
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.

This category holds travel resources and tour sites that specifically cater to those seeking archaeology excursions and traveling experiences.

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Additional information about Odyssey, its projects and equipment is
available at http://www. Odyssey's research team has
designated five shipwreck targets that will be the focus of upcoming
search operations.shipwreck.

inka archaeologist

Odyssey 's 251' deep-ocean archaeological platform has continued to
work in the western Mediterranean, inspecting and conducting
preliminary excavations on several shipwreck sites located recently by
the Research Vessel RV Odyssey. The
Sussex is a UK Government partnering project and it's up to us to
prove we are willing to be sufficiently diplomatic to allow for
complex political issues to be dealt with on a reasonable basis. With both ships working
together, it is possible the primary search area believed to hold
these five targets could be searched by late fall 2005. The areas of highest probabilities for the
primary targets are scheduled to be completed within 4 months.

sporades boma

(AMEX:OMR), a leader in the field of deep ocean
shipwreck exploration, today announced that it has received
preliminary comments from the Kingdom of Spain relating to the
shipwreck site believed to be HMS Sussex.
For the time being, the 113-foot RV Odyssey will remain in
Gibraltar to perform additional work in the Mediterranean , and may
perform additional work on the Sussex site in the absence of the
Odyssey Explorer. Nevertheless , we will continue to adhere to our own
high standards of archaeology and science.

archeologist archaeologist

shipwreck. According to company research, none are believed to
be sovereign immune warships, nor in the territorial waters of any
country.
The company believes that only two of the five targets may have
any potential insurance claimants, and it is anticipated that they
would be resolved in a manner consistent with the resolution of the
Republic insurance claims.
"We have invested a lot of money and resources into our shipwreck
research program, and I believe that we are now going to see the
payoff," commented Greg Stemm, Odyssey co-founder.

gregath etruria

Most targets in our 'Atlas' search area typically only present a
weather window through the fall, so it makes sense to move there while
we continue to cooperate with the UK and Spanish governments in
planning the Sussex operation and other cooperative efforts ,"
commented Greg Stemm, Odyssey's co-founder.

severa sporades

In the spirit of
cooperation, Odyssey is going to continue suspension of operations on
the Sussex to provide time for these meetings and to continue
discussions with the Spanish, UK and US governments relative to
sovereign warship issues.

etruria sporades

Until the Sussex project is resumed, the Odyssey Explorer and
Odyssey's new search ship will both work on the "Atlas" search
program.
To facilitate this ambitious search program, Odyssey has signed a
contract to acquire another ship, similar in size and sea-keeping
capabilities to the Odyssey Explorer, as well as a new, advanced
search system, which allows us to search areas at twice the speed of
our previous system.

zarzora boma

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.

egyptologist iexplore

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