Odyssey Marine - Press Release
- March 15, 2005
HMS Sussex Project Update
TAMPA, FL -March 15, 2005 - Odyssey Marine Exploration,
Inc. (Amex: OMR) a leader in the field of deep
ocean shipwreck exploration, today announced that
their 251' deep ocean archaeological platform,
the Odyssey Explorer, has arrived in the western
Mediterranean to begin work on the shipwreck site
believed to be HMS Sussex.
Odyssey has received final approval on the technical
and staffing portions of the Project Plan from
the UK Government to proceed with the project.
Once final mobilization is complete, the work
outlined in the Project Plan will begin. Mobilization
of equipment, crew and minor repairs necessary
from the transatlantic crossing are expected to
be completed within a week.
An abridged version of the Sussex Project Plan
is now available at www.shipwreck.net/sussexpp.html
. To protect proprietary information and trade
secrets owned by Odyssey, some specific technical
elements of the full plan have been removed before
presentation to the public.
HMS Sussex was a large 80 gun English warship
lost in a severe storm in the western Mediterranean
in 1694. Research suggests that the Sussex was
carrying a large cargo of money when she sank.
Odyssey believes that it has located the shipwreck
of HMS Sussex and has signed an exclusive partnering
agreement with the Government of the United Kingdom
for the archaeological excavation of the shipwreck.
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 equipment is available
- 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, 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 February 29,
2004, which has been filed with the Securities
and Exchange Commission.