Optima Health Regulatory News (OPT)

22 Apr 2005 10:58

Ocean Power Technologies Inc22 April 2005 NEWS RELEASE Ocean Power Technologies, Inc 1590 Reed Road Pennington, New Jersey 08534 USA DIRECTOR'S DEALING Pennington, NJ, USA, 22 April 2005 - Ocean Power Technologies, Inc ("OPT", orthe "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 18 April 2005that Mr. Charles F. Dunleavy, Chief Financial Officer and Director, exercisedoptions to purchase 16,666 shares of common stock under the Company's 2001 StockPlan. The weighted average exercise price of the stock options was US $1.00. Mr.Dunleavy has sole beneficial interest in the shares acquired upon exercise.Following this exercise of options, Mr. Dunleavy holds options over 1,932,500shares of common stock. 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: gtaylor@oceanpowertech.com E-mail: cdunleavy@oceanpowertech.com Michael Brennan, Evolution Beeson Gregory Ken Cronin, 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