Marine Log

October 3, 2006

Odyssea Marine acquires AMT OSV fleet

Berwick, La., based Odyssea Marine, Inc. has acquired the five-vessel fleet of AMT Marine, Inc. based in Larose, La.

Andy Martin, Founder and President of AMT Marine, Inc. will assume operational responsibility for Odyssea Marine's OSV Division.

The vessels range in length from 150 ft to 200 ft, are all DP1 classed and include the "Darwin John," "Andi N. Martin," "A.A. Martin," "Taylor R. Martin" and the "Mary Martin"--a Bollinger built OSV delivered in August 2006.

The vessels operate in the Gulf of Mexico supplying cargo to major and independent oil companies and marine construction firms, as well as support drilling operations.

Odyssea's purchase of the AMT fleet follows its purchase in February of the Lytal Enterprises, Inc. vessel fleet consisting of six offshore supply vessels.

Odyssea says its OSV Division is one of the youngest fleets in the Gulf of Mexico. CEO Aaron Thomas says the strategy behind the acquisition of the AMT fleet is "to expand the capabilities of our Offshore Supply Vessel Division and appeal to an increased client base."

Odyssea Marine, Inc. has two primary operating divisions.

The North Bank Towing Division based in Berwick operates twenty two traditional offshore tug, anchor handling and towing supply vessels. The OSV Division based in Larose, operates eleven offshore supply vessels.

Chuck Denning, Chairman of Odyssea Marine, Inc. stated "This is an important time for our company and we are pleased to have the AMT group with us. We will be a stronger company due to this acquisition."