Fewer than 7,200 collector-grade coins available for purchase

Sailing in haste with hopes to escape an impending attack by the British and Dutch armies, the São José ultimately met her demise in 1622. For nearly 400 years the treasures onboard from the Portuguese Empire were lost along with the carrack. For the first time ever after their spectacular 2005 recovery by Arqueonautas Worldwide, which holds the title to the São José, these legendary coins are now available for private ownership. Odyssey Marine Exploration, Inc. has secured exclusive rights to broker the coins from the São José shipwreck. Fewer than 7,200 collector-grade coins have been recovered.

Under the command of Francisco da Gama, the great grandson of the legendary explorer Vasco da Gama, the São José was the flagship of a fleet on a mission for Phillip III, King of Spain and Portugal, carrying an impressive cargo of silver coins. Francisco was also on his way to reign as the Viceroy of India. However, the São José never reached her destination when after the British and Dutch attacks she perished off the coast of Mozambique.

The São José carried an impressive cargo, the legendary silver treasure of Philip III, King of Portugal, that had been handed over to Francisco da Gama on his way to India. The shipment included nine chests filled with thousands of silver reales coins produced in both the Old and New World mints.

“This historic find offers a very rare opportunity for coin collectors. The São José collection is composed of a unique assortment of Old World and New World mints, laden with rich history, and there are only very few coins available for sale considering the size of the world-wide coin collecting community” said John Longley, Odyssey’s Director of Business Development.

“The Portuguese 1622 São José is an outstanding discovery for two reasons – for her cultural and historical significance accompanying the Vice Roy of India to Goa, and for her commercial value carrying the “Kings money” which we were able to recover from the shipwreck. These coins provide scientific proof of the importance of the Spanish Real as the only true global currency of its time. Some of the coins on board were found to have changed ownership three times in a period of only 12 months moving half around the globe,” commented Niki Graf Sandizell, CEO of Arqueonautas.

According to historic coin expert and author Carol Tedesco, a treasure of this nature does not come along very often. “Not only does the assortment include some truly rare varieties, the treasure features an amazing scope of world-wide commerce in the 16th and 17th century,”
Tedesco commented.

383 years after her demise, Arqueonautas located the São José in 2005 after completing extensive research followed by a large area magnetometer survey. In partnership with the company’s Mozambique counterpart Património Internacional SARL, a team of trained divers, archaeologists, conservation experts and specialized backup personnel excavated the remains of the shipwreck under the supervision of Cuban marine archaeologist Alejandro Mirabel.

During excavation, 24,000 coins were recovered, but fewer than 7,200 are collector-grade, which have been provenance-certified and graded by the Numismatic Guaranty Corporation (NGC). These treasure coins are now premiered on behalf of Arqueonautas by Odyssey Marine. Collectors interested in these exciting treasures can go to www.saojoseshipwreck.com and complete the information necessary to be contacted by one of Odyssey’s authorized coin distributors.

About Odyssey Marine Exploration, Inc.
Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX) uses innovative methods and state-ofthe- art technology to conduct extensive deep-ocean 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, Odyssey 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.” Odyssey has several 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 expeditions for an 11-part primetime series for Discovery Channel, which is scheduled to air worldwide in 2009.

Odyssey’s “SHIPWRECK! Pirates & Treasure” exhibit has been featured in New Orleans, Tampa, and Detroit, and will be on display at Science Museum Oklahoma starting late October 2008. For more detailed information on Odyssey, please visit www.shipwreck.net or contact Liz Shows, Odyssey’s PR/IR Coordinator, at 813-876-1776.

About Arqueonautas Worldwide
Established in 1994 and headquartered in Portugal, Arqueonautas consists of a team of highly experienced and trained shipwreck explorers, scientists, and marine archaeologists, and has been involved in numerous high-profile projects around the world.

Working to the highest available standards and practices of archaeology and conservation, the company’s purpose is to preserve the submerged cultural heritage and advance learning through the archaeological survey and excavation of historical shipwrecks in an economically viable manner.

PROJECTS

CAPE VERDE
ARQ held an exclusive license to conduct maritime archaeological operations in the territorial waters of Cape Verde from August 1995 to December 2002. Search operations were initiated at the beginning of November 1995. Archival documentation suggested the existence of over 300 shipwrecks in Cape Verde waters, more than 25 of which are believed to be of significant historical and cultural value. By the end of search operations over 100 wrecks were located. At the beginning of 1999, a large conservation facility for shipwreck material was opened in cooperation with the Cape Verde Government. Some 70,000 silver coins and over 4,000 artifacts have since been conserved and restored. The scientific publication is presently being prepared under the supervision of renowned marine archaeologist Dr. Margaret Rule.

MOZAMBIQUE
A Concession Agreement was signed in November 1999 for the area around “Ilha de Moçambique”. This agreement was prolonged in April 2003 with an extension of 700 km of coastline along the coast line of the Province of Nampula. Due of its important strategic location it is considered one of the most significant areas for historical shipwrecks along the East African coast. Research has thus far confirmed 79 historical shipwrecks, 22 of which are considered to be of outstanding cultural and historical value. Survey operations were initiated in May 2000 and number of important magnetic anomalies, which could possibly signify shipwreck debris fields, were located. After initial reconnaissance in early 2001, the excavation of the first wreck, a Portuguese trader identified as the Espadarte from 1558, commenced in mid 2001 and was finalized in November 2002 having recovered the most important collection of early Chinese export porcelain so far discovered in Africa. Since 2002 the Conceição of 1608 and the San Jose of 1622 have been excavated. Survey and recovery operations are ongoing.

For more information, please visit www.arq.de or email info@arq.de

® SS Republic is a registered trademark of Odyssey Marine Exploration, Inc.

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” in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2007, which has been filed with the Securities and Exchange Commission.

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