OceanGate Inc. Expands Board of Directors with Two Key Appointments

Veteran Entrepreneur and Technology Executives Bring Expertise to Board

SEATTLE, Washington – July 24, 2012 – OceanGate Inc., a global provider of deep-sea manned submersible solutions, recently appointed Geoffrey Barker and Lee Thompson to serve on the Company’s Board of Directors, effective immediately.

“We are pleased to welcome Geof and Lee to our board,” said Stockton Rush, Chairman and CEO. “Each new director brings a wealth of experience and knowledge in their respective industries. Their combined business, technical and financial experience will prove valuable as we expand OceanGate’s business into the commercial and government sectors. In addition, both will be a tremendous asset as we grow and evaluate strategic opportunities.”

About the new OceanGate Board Appointees:

Geoffrey T. Barker is the COO, co-founder and a member of the Board of Directors of RPX Corporation (Nasdaq: RPXC), which provides patent risk management solutions to companies in the broad technology industry. Mr. Barker has an extensive background developing new businesses, and, in addition to RPX, founded and co-founded two other companies, one of which was ultimately sold for $400 million. Prior to becoming an entrepreneur, Mr. Barker held positions in research, trading and investment banking. He holds an MBA from Columbia University and a BA in Economics from Tufts University. In 2012, Mr. Barker was a recipient of the Ernest & Young Entrepreneur Of The Year Award for Northern California.

Lee Thompson is CEO and co-founder of BlueView Technologies, which delivers groundbreaking underwater vision and measurement systems to the maritime community. Dr. Thompson has secured and managed numerous commercial funding rounds and R&D grants as well as developed technologies leading to multiple product developments in fields of Navy systems, medical ultrasound, consumer products, and marine electronics. Dr. Thompson received his Ph.D. from the University of Texas at Austin and has an affiliate research associate position at the Applied Physics Laboratory of the University of Washington. Earlier this month, BlueView was acquired by Teledyne Technologies Inc, manufacturer of underwater vehicles and exploration equipment, for an undisclosed amount.

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