OLD ORCHARD BEACH — More than 400 people are expected to take a noon-time plunge into the cold ocean waters at Old Orchard Beach for the annual Lobster Dip fundraiser for Special Olympics Maine.

The New Year’s Day ocean plunge was Maine’s original cold-water fundraiser when it began in 1988 with about 15 participants.

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It has grown to become the largest such fundraiser in the state, with last year’s Lobster Dip raising nearly $100,000.

Tuesday’s event will be followed by a post-dip party at The Brunswick restaurant in Old Orchard Beach.