AgriMarine Holdings Inc.
TSX VENTURE : FSH
FRANKFURT : A2G

AgriMarine Holdings Inc.

October 20, 2010 10:56 ET

AgriMarine Appoints Senior Advisor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2010) - AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), a leader in floating closed containment technology and production for sustainable aquaculture, is pleased to announce that Mr. Philip M. Fitzpatrick will be acting as Senior Advisor to the Company.

Mr. Fitzpatrick has extensive seafood and food industry experience in executive roles with multinational companies, working with all major trade and industry sectors. As a seasoned industry professional in both aquaculture and marine fisheries, Mr. Fitzpatrick held senior positions with Unilever, Dole Food Company, Bumble Bee Seafood and as Group Managing Director Americas for Marine Harvest, the world's largest aquaculture company. During the past 4 years, he has held the positions of Commercial Director & Senior Advisor to globally renowned Marine Stewardship Council where he advised on the certification of marine seafoods in the Americas.

Mr. Fitzpatrick currently serves on AgriMarine's Strategic Markets Committee, advising the Company in the areas of industry trends, retail and commercial opportunities, as well as the Company's certification and traceability planning. Richard Buchanan, CEO of AgriMarine Holdings, commented on Mr. Fitzpatrick's new role: "We are delighted to have Phil take on a formal Advisory role with AgriMarine. His depth of experience in business development and industry affairs, including serving as the Americas Commercial Director of the Marine Stewardship Council, will be invaluable as we seek new opportunities for the Company's sustainable aquaculture systems. Phil has developed tremendous expertise over the years and we anticipate that he will contribute significantly to the future success of the Company."

About AgriMarine Holdings Inc.

AgriMarine is in the business of producing fish sustainably in its proprietary closed containment systems in China for the rearing of trout, salmon and other finfish such as tuna, in floating solid-wall closed containment systems that allows for control of the rearing water environment. AgriMarine's technology resolves many of the environmental issues created by present net cage rearing practices worldwide and permits the installation of fish production systems in close proximity to consumer markets.

Forward-Looking Information

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

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