Director's Dealing

22nd Jul 2005 17:08

Ocean Power Technologies Inc22 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 energytechnology company that is commercialising its off-shore wave-powered electricalgeneration systems, announces that it received notification on 21 July 2005that, in order to satisfy market demand, Dr George W. Taylor, Chief ExecutiveOfficer 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 percent. 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 OfficerTelephone: (609) 730-0400 Telephone: (609) 730-0400E-mail: [email protected] E-mail: [email protected] 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 iscommercialising its proprietary technology for the generation of electricalpower using the energy of ocean waves. OPT's wave energy systems are based onmodular, buoy-like structures, called PowerBuoysTM, which are "intelligent"systems capable of responding to differing wave conditions. The Company'socean-tested systems have the potential to provide cost competitive, cleanelectrical power on a large scale without the enhancements of tax credits orsubsidies. 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

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