Odyssey Marine Exploration, Inc. a NASDAQ Stock Market (Ticker Symbol: OMEX), is engaged in the archaeologically-sensitive exploration and recovery of deep water shipwrecks throughout the world.

Odyssey utilizes innovative methods and state-of-the-art technology to conduct extensive deep ocean search and recovery operations around the world.

The company is currently excavating the wreck of the SS Republic, sidewheel steamer lost in deep water in 1865 after battling a hurricane for two days. The ship, en-route from New York to New Orleans, was reportedly carrying $400,000 in specie (1865 face value) when it sank. The company is recovering various artifacts and gold and silver coins from the site nearly 1700 feet deep.

Odyssey plans to begin the archaeological excavation of HMS Sussex in the near future. The company has already located a shipwreck site believed to be the Sussex and a partnering agreement has been signed with the Government of the United Kingdom

The company was founded by industry pioneers John Morris and Greg Stemm in 1994 on the following principles:

• Ships have been lost for centuries in deep water with valuable artifacts and cargoes
• The technology now exists to find and recover these lost artifacts and cargoes in a safe and archaeologically sound manner.

Odyssey owns and employs state-of-the-art technology including both search and recovery vessels, side scan sonar equipment, remotely operated vehicles ("ROV's") and other advanced technological innovations.

Odyssey's assets include many intangibles necessary for success: past experience and expertise; an extensive network of contacts in political, archaeological, and deep-ocean technology communities; a passion for nautical history and archaeology; and a strong portfolio of projects.

The company has numerous shipwreck projects in various stages of development throughout the world. Since its inception, Odyssey has spent millions conducting research, acquiring technology and negotiating with ownership interests to identify shipwreck projects that meet the following criteria:

• The shipwreck must be in deep water minimizing the possibility that it has been broken up and covered by shifting sands or has been the object of previous recovery efforts.
• The research must indicate that the shipwreck was carrying enough intrinsically valuable cargo to pay for the high cost associated with deep-ocean recovery, conducted in accordance with high archaeological standards, and to provide an attractive return for the Company's investors and shareholders.
• The research must provide good navigational information concerning the sinking location in order to minimize the search area and provide a reasonable expectation that the wreck can be found.
• The issues relating to ownership of the shipwreck and its cargo must be resolved prior to beginning any recovery in order to minimize potential for litigation.

Concurrent with Odyssey's goals for exploration is the organization's dedication to protecting the cultural heritage found in deep ocean shipwrecks. Greg Stemm is one of the leaders in developing a practical standard for commercial and academic coordination on shipwreck exploration and recovery. He was appointed for four consecutive terms to the United States delegation to the United Nations Educational, Scientific and Cultural Organization (UNESCO) expert meeting to negotiate the "Draft Convention for the Protection of Underwater Cultural Heritage." Stemm's leadership has enabled Odyssey to forge a path of cooperation between governments, research institutions, academics, and the small universe of commercial deep sea explorers.

For the latest company news view the press release archive.

Company History

1994:	Company Founded by John Morris and Greg Stemm
1997:	Company went public through a reverse merger
1998-2003:	Search operations conducted on Sussex, Republic, "Concepcion" and "Seattle" projects
2001:	Odyssey submits draft report to the Government of the United Kingdom on the preliminary archaeological work done on the shipwreck site believed to be HMS Sussex
2002:	Odyssey signs landmark partnering agreement with the Government of the United Kingdom for HMS Sussex
2002:	Odyssey purchased RV Odyssey as search vessel. First search target SS Republic project
August 2003:	Odyssey located SS Republic
August 2003:	Odyssey purchased Odyssey Explorer, 251 foot deep ocean archaeological platform and ZEUS, a 205 HP Remotely Operated Vehicle (ROV)
September 2003:	Mobilization and Sea Trials of Odyssey Explorer and ZEUS
October 2003:	Archaeological pre-disturbance survey on SS Republic shipwreck site
November 2003:	Excavation of SS Republic site begins and first coins are located and recovered.
November 2003:	Odyssey moves to the American Stock Exchange under the symbol OMR.