Related Party Transactions and Outside Related Director Information

Odyssey Marine Exploration, Inc. (OMR)

3/29/2006 Proxy Information

Mr. Bederman has served as a legal advisor to Odyssey since 1998.

John Morris and David Morris are brothers.

Mr. Morris served as President and Chief Executive Officer of Odyssey Marine Exploration, Inc. from May 1994 until November 2005.

During the last two years certain officers, directors, and beneficial owners entered into transactions with the Company as follows:

On December 9, 2002, a Georgia limited liability company acquired rights from an unrelated third party through a foreclosure sale to receive 5% of post finance cost proceeds, if any, from shipwrecks that we may recover within a predefined search area of the Mediterranean Sea. The shipwreck we believe to be HMS Sussex is located within this search area. Two of our officers and directors had member interests in the limited liability company until they sold their interests to an unrelated third party in 2005. In the event that political interference precludes the recovery efforts of the project, the officers would be required to buy back their interests.

A construction company, owned by a relative of John Morris, Co-Chairman and prior CEO, performed building renovations on our corporate headquarters building amounting to $105,259 and $243,800 for the periods ended December 31, 2005 and 2004 respectively. Also, the spouse of Greg Stemm, Co-Chairman and Executive Vice President, performed logo design services in the amount of $3,525 during the year ended December 31, 2005.