SOURCE: HQ Sustainable Maritime Industries, Inc.

June 23, 2008 08:08 ET

HQS to Join Russell 3000® Index

SEATTLE, WA--(Marketwire - June 23, 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"), is expected to join the Russell 3000 Index after Russell Investments reconstitutes its U.S. and global equity indexes, according to a preliminary list of additions posted June 13 on www.russell.com. Changes to Russell indices will go into effect after markets close on June 27.

To reconstitute its indices, Russell ranks stocks according to their May 30 market capitalization. Stocks must also be listed on eligible stock exchanges in eligible countries and meet minimum liquidity and other investability rules. As a result of membership in the Russell 3000, HQS will also be included in the small-cap Russell 2000 Index, which is composed of the smallest 2000 firms in the Russell 3000 Index, and appropriate growth and value style indexes. The Russell 3000 is the U.S. component of the Russell Global Index, an index started by Russell Investments last year.

"We believe that becoming a part of the Russell 3000 will bring HQS to the attention of new investors," said Mr. Norbert Sporns, President and CEO of HQ Sustainable Maritime Industries, Inc. "We look forward to greater visibility among sophisticated individual and institutional investors who rely on indices."

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 Hazard Analysis and Critical Control Point and PRC Good Manufacturing Practices certified. HQS' corporate headquarters is in Seattle.

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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