Spain, the United Kingdom and the Junta of Andalucia Agree to Sussex Shipwreck Archaeology Project
March 26 2007 - 9:09AM
Business Wire
Odyssey Marine Exploration Inc. (AMEX:OMR), a leader in the field
of deep-ocean shipwreck exploration, is pleased to publicly
announce the conclusion of diplomatic negotiations for the
archaeological project related to the shipwreck of HMS Sussex lost
in 1694. A meeting of experts from the United Kingdom, the Junta of
Andaluc�a and Odyssey Marine Exploration last week convened in
Seville, Spain to discuss the archaeological plan related to HMS
Sussex. After the meeting�s successful conclusion, the Spanish
Ministry of Foreign Affairs issued a press release, the English
translation of which follows. (Original Spanish version of the
document: http://shipwreck.net/official_mfa_release.pdf)
(TRANSLATION) MINISTRY OF FOREIGN AFFAIRS AND COOPERATION General
Directorate for External Communication PRESS NOTE Agreement between
Spain and the United Kingdom to carry out an underwater survey for
the identification of the wreck of HMS Sussex Twenty-third of March
2007. The Ministry of Foreign Affairs and Cooperation has the
pleasure of announcing that Spain and the United Kingdom have
reached an agreement in order to proceed to carry out an underwater
archaeological survey in waters of the Alboran Sea for the
identification of the wreck corresponding to HMS Sussex, a
sovereign vessel of the English flag that shipwrecked in said sea
in 1694. This project, which will be carried out by the company
Odyssey Marine Exploration, will follow rigorous archaeological
protocols. The Junta de Andaluc�a will participate in it. Prior to
the commencement of operations, a coordination meeting is scheduled
for today between specialists nominated by the British Ministry of
Defense and the Junta de Andaluc�a. Periodic coordination meetings
are also scheduled to be held whilst the operations are being
carried out. The Junta de Andaluc�a will name archaeologists to
participate in said project. This participation by the Junta is
intended to ensure that the project complies with all the
applicable laws relating to the due protection of underwater
cultural heritage. The company Odyssey Marine Exploration,
registered in the United States and having an exclusive contract
with the Government of the United Kingdom for the archaeological
project of the HMS Sussex, will carry out operations aimed at
locating said shipwreck by virtue of the agreement reached. In the
event that it is proven that the ship is HMS Sussex, Spain will
recognize that the wreck, its appurtenances and contents are the
property of the United Kingdom by virtue of the rules of applicable
International Law. (END OF TRANSLATION) The issuance of this
release signals the public announcement of the conclusion to
sensitive diplomatic negotiations that have been taking place since
Odyssey suspended operations at the site believed to be HMS Sussex
near the straits of Gibraltar last spring. About HMS Sussex HMS
Sussex was an 80-gun English warship lost in a severe storm in the
western Mediterranean in 1694. Research suggests the Sussex was
carrying a large cargo of coins when she sank. Odyssey believes it
has located the shipwreck of HMS Sussex and has signed an exclusive
partnering agreement with the legal owner of the shipwreck, the
Government of the United Kingdom, for the archaeological excavation
of the shipwreck. About Odyssey Marine Exploration Odyssey Marine
Exploration is an American Stock Exchange Company with several
shipwreck projects in various stages of development throughout the
world. Additional information about Odyssey, its projects and
methodologies, is available at www.shipwreck.net. For additional
information, please contact Natja Igney, at 813-876-1776 (ext.
2553). 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," and
"Business" in the Company's annual report on Form 10KSB for the
year ended December 31, 2006, which has been filed with the
Securities and Exchange Commission.
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