News Release Details

Ocean Power Technologies, Inc.
1590 Reed Road
Pennington, New Jersey 08534
USA

The following replaces the Notice of Audio Webcast announcement released at 0701 under RNS number 7904P.

4.00 pm GMT has been amended to 3.00pm GMT

The full amended text appears below.

For Immediate Release March 11, 2008

OCEAN POWER TECHNOLOGIES TO ANNOUNCE THIRD QUARTER RESULTS AND HOST AUDIO WEBCAST

Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ('OPT' or the 'Company') advises that it will be announcing its results for the third quarter and nine months ended January 31, 2008, and will host an audio webcast to review its results, on Monday, March 17, 2008, at 11:00 a.m. Eastern Time (3.00 p.m GMT). Dr. George W. Taylor, Chief Executive Officer, Mark R. Draper, Chief Operating Officer and Charles F. Dunleavy, Chief Financial Officer, will host the webcast.

Investors and other interested parties may access the webcast by visiting the Company's website at www.oceanpowertechnologies.com and clicking on the Investor Relations tab, then Webcasts and Presentations.

About Ocean Power Technologies

Ocean Power Technologies, Inc. develops and is commercializing proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The Company's PowerBuoy(R) system is based on modular, ocean-going buoys, which have been ocean tested for nearly a decade. The waves move the buoy-like structure creating mechanical energy that the Company's proprietary technologies convert into electricity.

For Further information, please contact:

Ocean Power Technologies, Inc Telephone: +1 609 730 0400
Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400
Charles F. Dunleavy, Chief Financial Officer

Corfin Communications Telephone: +44 20 7977 0020
Martin Sutton, Neil Thapar

Collins Stewart Europe Limited Telephone: +44 20 7523 8350
Adrian Hadden