Ocean Power Technologies Inc 22 July 2005 Ocean Power Technologies, Inc DIRECTOR'S DEALING Pennington, NJ, USA, 22 July 2005 - Ocean Power Technologies, Inc ("OPT", or the "Company") (London Stock Exchange:AIM-OPT), a leading renewable energy technology company that is commercialising its off-shore wave-powered electrical generation systems, announces that it received notification on 21 July 2005 that, in order to satisfy market demand, Dr George W. Taylor, Chief Executive Officer and Director, has sold a total of 500,000 shares of common stock ("Shares") at a price of 75p per Share. Following this sale Dr Taylor holds 8,608,010 Shares representing 16.72 per cent. of the issued share capital of the Company. For further information, please contact: Dr. George W. Taylor, Charles F. Dunleavy, Chief Executive Officer Chief Financial Officer Telephone: (609) 730-0400 Telephone: (609) 730-0400 E-mail: gtaylor@oceanpowertech.com E-mail: cdunleavy@oceanpowertech.com Michael Brennan, Evolution Securities Robert Speed, 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