This is an amazing story. I just caught an episode of Horizon on the BBC and the entire hour was dedicated to this study. The image gallery at the COML.org website is a must see. Its incredible to think how little we really know about the ocean and its contents.

Altogether, the international Census of Marine Life counted 201,206 different species of which 5,000 are new.
But experts estimate there are a million species living in the sea, so a mere 20% of the huge total have been discovered so far.
via Ocean census discovers 5,000 new species – mirror.co.uk.