Ocean Power Technologies Inc 08 August 2005 NEWS RELEASE Ocean Power Technologies,Inc. 1590 Reed Road Pennington, New Jersey 08534 USA 08 August 2005 ADDITIONAL LISTING OF SHARES Pennington, NJ, USA, 8 August 2005 - Ocean Power Technologies, Inc ("OPT" or the "Company") (London Stock Exchange: AIM-OPT). Pursuant to the Company's 2001 Stock Plan, options over 22,500 shares of common stock of US$0.001 each ("Common Stock") have been exercised at an average price of US$1.10 per share of Common Stock. Accordingly, the Company has allotted 22,500 shares of Common Stock and application has been made to the AIM market of the London Stock Exchange ("AIM") for the admission to trading of these 22,500 shares of Common Stock. These shares rank pari passu with the Company's existing shares of Common Stock and dealings on AIM are expected to commence on 12 August 2005. Following this listing the Company will have 51,535,453 Common shares in issue. 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 Ken Cronin, Gavin Anderson & Co. Evolution Securities Limited Telephone: +44 207 554 1400 Telephone: +44 207 071 4300 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