OMR Odyssey Marine Exploration

The Board of Directors of Odyssey Marine Exploration, Inc. (AMEX:OMR), has reinstated John C. Morris as Chief Executive Officer effective July 1, 2006. Morris, who is a co-founder of Odyssey Marine, stepped down from the CEO position last fall to undergo chemotherapy and radiation treatments for head and neck cancer. Having successfully completed medical treatments and a recovery period, Morris is ready to return to the position, replacing Michael V. Barton, who has served as Interim CEO since November 2005. "I'm thrilled to be able to return to my role in day-to-day operations of Odyssey. I want to sincerely thank Mike Barton for stepping in and taking over during a very challenging time in the Company's history. He's done a marvelous job and helped set the stage for Odyssey's continued growth. We are now set to aggressively pursue our goal of finding and recovering one or more shipwrecks this year by expanding our marine operational capacity," said John Morris. "I'd also like to thank everyone for their support and prayers during this trying time for me and my family. The treatment and recovery period were difficult, but the encouragement and well wishes I received from around the world helped immensely." John Morris will also continue to serve as the Co-chairman of the Board. About Odyssey Marine Exploration Odyssey Marine Exploration is an American Stock Exchange Company with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects, methodologies and technologies, is available at http://www.shipwreck.net. For additional information, please contact John McNeilly, Odyssey's Manager of Corporate Communications, at 813-876-1776. 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 10-K for the year ended December 31, 2005, which has been filed with the Securities and Exchange Commission.