Ocean Power Technologies Inc 28 October 2005 NEWS RELEASE ------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA OCEAN POWER TECHNOLOGIES REPORT & ACCOUNTS POSTED Pennington, NJ, USA, 28 October 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, is pleased to advise that copies of its Annual Report and accounts for year ended 30 April 2005 have today been posted to shareholders. Copies may be obtained free of charge from the offices of Evolution Securities Limited, 100 Wood Street, London EC2V 7AN for a period of one month from the date of this announcement. 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 & Limited Company 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 PowerBuoys(TM), 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. 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