SOURCE: HQ Sustainable Maritime Industries, Inc.

May 19, 2008 08:08 ET

HQS' CEO, Norbert Sporns, Named Ernst & Young Entrepreneur Of The Year® 2008 Award Finalist in the Pacific Northwest

SEATTLE, WA--(Marketwire - May 19, 2008) - HQ Sustainable Maritime Industries, Inc. (AMEX: HQS) ("HQS" or the "Company"), a vertically integrated aquatic product producer, processor and distributor of toxin free tilapia, and processor and distributor of marine-bio products with operations in the People's Republic of China ("PRC"), today announced that its CEO, Norbert Sporns, is a finalist for the Ernst & Young Entrepreneur Of The Year® 2008 Award in the Pacific Northwest. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Norbert Sporns was selected as a finalist from nearly 60 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 13, 2008 at the Seattle Sheraton Hotel & Towers.

"On behalf of our company, its clients and shareholders, we are honored at being considered. We hope that this award process can further attract attention to the importance of our sustainable toxin-free Aquaculture message and help further reduce pressures on our environment," said Mr. Sporns.

The Ernst & Young Entrepreneur Of The Year awards program celebrates its 22nd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world.

Regional award recipients are eligible for consideration for the Ernst & Young Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award recipient, will be announced at the annual awards gala in Palm Springs, California on November 15, 2008. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.

In the Pacific Northwest, sponsors include Scherzer International, Puget Sound Business Journal, The Big Picture Film and Video Arts, and The Summit Group Communications.

About Ernst & Young's Entrepreneur Of The Year

Ernst & Young's Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential.

For more information, please visit www.ey.com.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited.

About HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc. is a U.S. vertically integrated aquaculture and aquatic product producing, processing and distributing company with operations in the province of Hainan, in the South China Sea, the People's Republic of China. The Company is dedicated to environmentally sustainable toxin-free production and processing methods which give its customers the highest-quality products possible. The Company holds HACCP certification from the U.S. FDA and has an EU Code assignment of quality. The processing plant and the Company's operations were certified by the Aquaculture Certification Council (ACC) to meet Best Aquaculture practices (BAP) set by the Global Aquaculture Alliance (GAA). The Company's nutraceutical and healthcare products have passed stringent laboratory tests and are certified by the China Ministry of Health, and also are HACCP and PRC GMP certified. HQS' corporate headquarters is in Seattle. 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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