SOURCE: HQ Sustainable Maritime Industries, Inc.

November 12, 2008 08:08 ET

HQ Sustainable Maritime Appoints Eugene Hill as Executive Vice President of Finance

SEATTLE, WA--(Marketwire - November 12, 2008) - HQ Sustainable Maritime Industries, Inc. (AMEX: HQS) ("HQS" or the "Company"), a leader in toxin-free integrated aquaculture and aquatic product processing, including fish byproduct personal healthcare products, today announced the appointment of Eugene Hill, age 49, as Vice President of Finance. Mr. Hill will report directly to Norbert Sporns, Chief Executive Officer of HQ Sustainable.

Mr. Hill brings to HQS more than two decades of financial services experience, serving in various roles, including interim chief financial officer or treasurer, for several mid-to-large cap companies. Prior to joining HQS, Hill served as Corporate Treasurer for Knowledge Learning Corp (KLC), where he established cash forecasting models domestic and cash management policies and managed a $100 million investment portfolio of marketable securities. Hill also served as Assistant Treasurer and as a management consultant, with clients that included Nutro Products where Hill established the Treasury and Investor Relations Departments. Hill also served as Interim Assistant Treasurer for LeapWireless International, Inc. where he successfully worked out of its Structured Investment Vehicle (SIV) and action rate investments. While serving at LeapWireless, Hill also managed its cash modeling in order to optimize cash flow. He worked for several years in the early '90s with Cisco Systems, Inc. (CSCO) as acting Treasurer and was involved in expanding that company's operations into Asia.

Commenting on the appointment, Norbert Sporns, Chief Executive Officer of HQ Sustainable Maritime, said, "Eugene's appointment will serve to give our management team additional depth in establishing the best course of action moving forward. His addition will also improve the quality of information we are able to present to the investment community, and will also provide an additional avenue through which analysts can receive financial information. Eugene has hit the ground running, and has already traveled to China to review our operations and is currently assessing new reporting metrics. I strongly believe that Eugene will become an invaluable addition to our team, and I look forward to working closely with him in the future."

About HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc. is an integrated aquaculture and aquatic product processing company, with operations based in the environmentally pristine island province of Hainan, in the South China Sea. HQS practices co-operative sustainable aquaculture, using nutraceutically enriched feeds and conducting fish processing and sales. The company is dedicated to sustainable toxin-free methods giving its customers the purest products possible. The Company holds HACCP certification from the U.S. FDA and the EU Code assignment of quality, permitting its products to be sold in these international markets. The Aquaculture Certification Council, Inc. (ACC) certified that tilapia processing standards met Best Aquaculture Practices, and the Chinese government gave organic certification to the Company's tilapia production, processing, labeling, marketing and management system. The Company owns a nutraceuticals and health products company, which is HACCP and GMP certified, and produces and sells products subject to stringent laboratory tests certified by the China Ministry of Health. This GMP certified plant produces nutraceuticals, which enrich feed used by HQS' cooperative aquaculture operations. In addition to headquarters in Seattle, HQ has operational offices in Wenchang, Hainan. The Company's website is: http://www.hqfish.com.

Safe Harbor Statement

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and 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 HQ Sustainable Maritime Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."

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