EXHIBIT 99

                                PRESS RELEASE

Subject: Shipwreck Update: Odyssey Announces Preliminary First Quarter
Earnings

Odyssey Marine Exploration issued the following press release today:

              ODYSSEY ANNOUNCES PRELIMINARY FIRST QUARTER EARNINGS

TAMPA, FL - June 21, 2004 - Odyssey Marine Exploration, Inc (AMEX:OMR), a
leader in the field of deep ocean shipwreck exploration has estimated revenue
and earnings per share for the company's first quarter of the current fiscal
year, which ended May 31, 2004. Based on preliminary financial results,
Odyssey expects total consolidated revenue to be approximately $3.4 million
and after tax earnings to be approximately $500,000, or $.01 per share. Actual
first quarter results will be announced in the upcoming 10QSB, scheduled to be
released in mid-July.  Although the revenue and earnings per share estimates
are being reported for the total quarter, all significant revenue occurred in
the last month of the quarter, May.  "We are very pleased to finally have our
company generating significant revenues from our core business", stated John
Morris, Odyssey's co-founder and CEO. "Our current inventory of coins from the
SS Republic should enable us to continue to generate revenue for the next
several quarters and we are looking forward to beginning the Sussex project".
Odyssey Marine Exploration is an American Stock Exchange Company (Ticker
symbol: OMR) with several shipwreck projects in various stages of development
throughout the world, including the SS Republic and HMS Sussex projects. The
company's vessel Odyssey Explorer is currently conducting the archaeological
excavation of the SS Republic and the company's second ship, RV Odyssey, is
conducting search operations on a number of additional projects in the
Atlantic Ocean. Additional information about Odyssey, its projects and
equipment is available at www.shipwreck.net.

                                   - END -

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. 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 February 29, 2004, which has
been filed with the Securities and Exchange Commission.