SOURCE: Neptune Industries, Inc.

October 11, 2007 08:00 ET

Neptune Industries Announces the Addition of Frank J. Garofalo to Its Board of Directors

BOCA RATON, FL--(Marketwire - October 11, 2007) - Neptune Industries, Inc. (OTCBB: NPDI), a holding company with diversified interests in aquaculture technology, food science, sustainable seafood, and related natural and organic food products, announced today that Frank J. Garofalo has joined the Board of Directors. The addition of Mr. Garofalo to the Board of Directors completes an expansion of the Company's Board to seven members.

Frank J. Garofalo is the founder and Managing Partner of Garofalo & Associates, LLC, a management consulting and financial advisory firm working on "special assignment" primarily for electronics, software and technology companies ranging from $10 million to over $10 billion in size. Prior to establishing his own firm, Mr. Garofalo was a Managing Director in Corporate Finance at PaineWebber (now UBS) focused on technology investment banking. His career in professional services spans 30 years and over that time his assignments have included dozens of business development, corporate development and corporate finance projects including establishing strategic alliances with equity positions, private placements of equity financing, mergers, acquisitions and divestitures.

Mr. Garofalo is an expert in strategic, competitive, and market analysis with an emphasis on positioning for maximum equity valuation. Mr. Garofalo earned a Bachelor of Science degree in Electrical Engineering from the Massachusetts Institute of Technology, a Master of Science degree in Electrical Engineering from the University of Michigan, and a Master of Business Administration from Harvard University.

Mr. Garofalo has served on a number of boards and currently is a Director of J.M. Lafferty Associates, Inc. in Chicago, a stock and portfolio research firm; and is a Director of Dynagraf, Inc., one of the top graphics communications companies in New England.

President of Neptune Industries, Ernest Papadoyianis, stated, "Mr. Garofalo brings an extraordinary background of engineering, technology, and mergers and acquisitions to Neptune. I believe his knowledge and experience can play a significant role in our present and future technology development, market analyses, and acquisition modeling."

Mr. Frank Garofalo stated, "I have worked with technology driven companies for over 30 years as engineer, consultant, and investment banker and I am very excited about the potential represented by Neptune Industries' breakthrough aquaculture systems and nutritional components for ecologically sound fish farming, something for which there is a great and compelling need in the marketplace."

About Neptune Industries:

Based in Boca Raton, Florida, Neptune Industries, Inc. has developed a scalable, modular aquaculture technology called Aqua-Sphere™ and Aqua-Cell™ that successfully address the environmental concerns of most aquaculture operations by controlling and recycling all waste products, while ensuring the production of the highest quality fish at an affordable price. The company currently operates the Blue Heron Aqua Farms in Florida City, FL and is a leading producer of hybrid striped bass, which it markets internationally as Everglades Striped Bass™. The company's current production at its Blue Heron farm, and future production with Aqua-Sphere™ System technology are intended to target the organic market as soon as organic certification of farm-raised seafood becomes available. The Company is also in development of an advanced dietary nutritional component called Ento-Protein™. Ento-Protein™ is a high quality sustainable protein derived from insects, and is intended to be a replacement for the scarce fish meal now used in fish and animal diets. For further information, please visit the Company's website at: www.neptuneindustries.net

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information