Ocean Power Technologies Inc 06 May 2005 NEWS RELEASE Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA ADDITIONAL LISTING OF SHARES Pennington, NJ, USA, 6 May 2005 - Ocean Power Technologies, Inc ("OPT" or the "Company") (London Stock Exchange: AIM-OPT). Further to the announcement made on 22 April 2005 relating to the exercise of options by Charles Dunleavy, a director of the Company, application has been made to the AIM Market of the London Stock Exchange ("AIM") for the admission to trading of 16,666 common shares of $0.001 par value each in the Company ("Common Shares"). These Common Shares are being issued pursuant to the exercise of options and rank pari passu with the Company's existing Common Shares. Dealings on AIM are expected to commence on 10 May 2005. Following this listing the Company will have 51,512,953 Common Shares in issue. For further information, please contact: Dr. George W. Taylor, Chief Executive Charles F. Dunleavy, Chief Financial Officer Officer Telephone: (609) 730-0400 Telephone: (609) 730-0400 E-mail: gtaylor@oceanpowertech.com E-mail: cdunleavy@oceanpowertech.com Michael Brennan, Evolution Securities Ken Cronin, Gavin Anderson & Co. Telephone: +44 207 071 4300 Telephone: +44 207 554 1400 Background Information Ocean Power Technologies, Inc. OPT is the world's first publicly listed wave power company. It is commercialising its proprietary technology for the generation of electrical power using the energy of ocean waves. OPT's wave energy systems are based on modular, buoy-like structures, called PowerBuoysTM, which are "intelligent" systems capable of responding to differing wave conditions. The Company's ocean-tested systems have the potential to provide cost competitive, clean electrical power on a large scale without the enhancements of tax credits or subsidies. For further information, see the Company's website: www.oceanpowertechnologies.com. This information is provided by RNS The company news service from the London Stock Exchange