Odyssey to Re-Open Shipwreck & Treasure Adventure in New Orleans

Note: Odyssey Marine Exploration now trades on the NASDAQ® Stock Market under the symbol OMEX.

Odyssey to Re-Open Shipwreck & Treasure Adventure in New Orleans

Tampa, FL - January 17, 2006 - Odyssey Marine Exploration, Inc. (AMEX: OMR), a leader in the field of deep-ocean shipwreck exploration, announced today that it will re-open Odyssey's Shipwreck & Treasure Adventure in New Orleans, on Wednesday, February 15, 2006.

After a successful Grand Opening on August 27, 2005, Odyssey closed the attraction as a result of Hurricane Katrina.

"We're thrilled to announce our return to New Orleans. When we originally opened in August 2005, the city warmly welcomed us and it remains a perfect location for Odyssey's first attraction. New Orleans played a significant role in the history of the SS Republic, our first major deep-ocean archaeological recovery, and we believe the city's tourism market will be an important customer base and learning model for future attractions," said Greg Stemm, Odyssey Marine Exploration's co-founder.

Odyssey's Shipwreck & Treasure Adventure appeals to the universal fascination with shipwrecks and sunken treasure. The attraction reveals the compelling stories behind some of the world's most famous shipwrecks, their treasure and historical artifacts, and it allows visitors to interactively experience the adventure and excitement of deep-ocean shipwreck exploration through multiple hands-on exhibits. Odyssey's Shipwreck & Treasure Adventure appeals to both adults and children and to advanced or amateur ocean explorers alike.

Odyssey's Shipwreck & Treasure Adventure's initial hours of operation will be Wednesday through Sunday, 10 a.m. to 5:00 p.m. Cost is $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. For more information about the New Orleans attraction, please visit www.shipwreckandtreasure.com.

Odyssey Marine Exploration is an American Stock Exchange Company (Ticker symbol: OMR) with several shipwreck projects in various stages of development throughout the world. Additional information about Odyssey, its projects and technologies, is available at shipwreck.net. For additional information, please contact John McNeilly, Odyssey'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.