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Odyssey Motion Granted to File Objections in "Black Swan" case by July 6, 2009



Tampa, FL – June 10, 2009 - Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), pioneers in the field of deep-ocean shipwreck exploration has announced that U.S. Federal Court Judge Steven Merryday has granted Odyssey's Motion for Extension of Time to Respond to Report and Recommendation. He will allow Odyssey and other claimants until July 6, 2009 to file written objections to Magistrate Mark Pizzo's recommendation that Spain's Motion to Dismiss the "Black Swan" case be granted. Judge Merryday will then examine the recommendation as well as all objections and responses in the case before making his ruling on the motion to dismiss.

"The Magistrate's report fails to acknowledge the absence of a vessel at the "Black Swan" site or the commercial nature of the Mercedes' mission at the time of her demise, which would legally nullify the claim to sovereign immunity on that vessel. It also ignores prior case law that separates cargo from the vessel in similar cases," stated Melinda MacConnel, Odyssey's Vice President and General Counsel. "Evidence is clear and un-refuted that the majority of coin cargo being transported on the Mercedes belonged to private merchants, this portion of the cargo aboard the Mercedes never belonged to the Spanish Government. We are looking forward to submitting our formal objections to the court within the time allotted and would welcome the opportunity to cross-examine Spain's witnesses.

"While the Magistrate's initial recommendation is disappointing, I have confidence in our legal system whether at this stage of the proceedings or during subsequent appeal if necessary," said Greg Stemm, Odyssey's CEO. "In the meantime, the Odyssey exploration team continues to focus on other projects, including several undisputed merchant shipwrecks without any issues relating to sovereign immunity. We have two ships out working in the "Atlas" search area, we're planning operations off the US East Coast later this year and there are several other potential shipwreck projects that may also commence in 2009. We are also working with the UK government on an agreement for the HMS Victory project."

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX) is engaged in the exploration of deep-ocean shipwrecks and uses innovative methods and state-of-the-art technology to conduct extensive search and archaeological recovery operations around the world. Odyssey discovered the Civil War era shipwreck of the SS Republic® in 2003 and recovered over 50,000 coins and 14,000 artifacts from the site nearly 1,700 feet deep. In May 2007, the Company announced the historic deep-ocean treasure recovery of over 500,000 silver and gold coins, weighing 17 tons, from a Colonial era site code-named "Black Swan." In February 2009, Odyssey announced the discovery of Balchin's HMS Victory. The Company also has other shipwreck projects in various stages of development around the world.

Odyssey offers various ways to share in the excitement of deep-ocean exploration by making shipwreck treasures and artifacts available to collectors, the general public and students through its webstore, exhibits, books, television, merchandise, and educational programs.

JWM Productions is currently filming Odyssey's operations in the "Atlas" search area in preparation of a second season of Discovery Channel's "Treasure Quest" series. The 12-episode Season One aired in the US and the UK in early 2009 and is scheduled to air worldwide throughout 2009.

Following previous successful engagements in New Orleans, Tampa, Detroit, and Oklahoma City, Odyssey's SHIPWRECK! Pirates & Treasure is scheduled to open at Discovery Place in Charlotte, NC on July 4, 2009. For details on the Company's activities and its commitment to the preservation of maritime heritage please visit www.shipwreck.net.

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Odyssey Marine Exploration believes the information set forth in this Q/A 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, 2008, which has been filed with the Securities and Exchange Commission.

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