News Release Details

Pennington, NJ, USA, 9 March 2006 - Ocean Power Technologies, Inc (“OPT”, or the “Company”) (London Stock Exchange:AIM-OPT), is pleased to announce that it has appointed Collins Stewart Limited as its nominated adviser and broker with immediate effect.

For further information, please contact:

Dr. George W. Taylor, Chief Executive Officer
Telephone: (609) 730-0400
E-mail: gtaylor@oceanpowertech.com

Charles F. Dunleavy, Chief Financial Officer
Telephone: (609) 730-0400
E-mail: cdunleavy@oceanpowertech.com

Stephen Keys, Collins Stewart Limited
+44 207 523 8350

Ken Cronin, Gavin Anderson & Company
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 oceantested 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.