SOURCE: Coda Octopus Group, Inc.

May 05, 2006 10:40 ET

Coda Octopus Opens New Office in Florida to Accommodate Planned US Sales Team Expansion

NEW YORK, NY -- (MARKET WIRE) -- May 5, 2006 -- Coda Octopus Group, Inc. (OTC: CDOC), a world leader in 3D subsea technology with key applications in port security and defense, today announced that it has opened a new sales and marketing office in St. Petersburg, Florida, which became operational on May 1st 2006.

Jason Reid, CEO, commented, "The new space is an addition to the Company's nearby existing office and will enable us to expand our US sales operations, which are already run out of Florida. Within a short period of time, we expect to have up to six staff working from this facility. The opening of this office reflects the Company's commitment to the region which is becoming an increasingly important one in the marine industry; it will also help us to build on our already close association with the University of South Florida, which is a key player in the industry."

About Coda Octopus

Founded in 1994 as Coda Technologies, Coda Octopus is recognized internationally as a leading developer of underwater technologies for imaging, mapping, defense and survey applications. Based in New York, with R&D, manufacturing, and sales facilities in the UK, Norway, and Florida its key products include Octopus precision motion sensors, Coda and Octopus marine software and systems, Octopus thermal printers and the unique Coda Echoscope -- the first real-time 3D subsea sonar -- with particular applications in the homeland security and construction markets. With this patented new product, which revolutionizes subsea visualization, Coda Octopus believes it is well on its way to becoming the world's leading sonar technology company.

For further information, please visit http://www.codaoctopus.com or contact Coda Octopus at info@codaoctopus.com

Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, the competitive environment and successful technical and economic implementation.

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