Odyssey Obtains Default Judgment on Admiralty Arrest of Shipwreck

Business Wire, May 16, 2007

TAMPA, Fla. -- Odyssey Marine Exploration (AMEX:OMR), the world's leader in the field of deep-ocean shipwreck exploration announced today that it has received a default judgment from the U.S. District Court for the Middle District of Florida on the admiralty arrest complaint filed by the Company with the court in September 2006.

This default judgment grants Odyssey all requests in the original complaint, including sole and exclusive ownership of the shipwreck site, believed to be the remains of a Colonial period shipwreck located in the Atlantic Ocean outside the territorial waters of any nation.

About Odyssey Marine Exploration

Odyssey Marine Exploration is a Publicly Traded US Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects and methodologies, is available at www.shipwreck.net.

For additional information, please contact Natja Igney, Odyssey's Manager of Corporate Communications, at 813-876-1776 ext 2553.

Odyssey Marine Exploration 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, 2006, which has been filed with the Securities and Exchange Commission.