SOURCE: Neptune Industries, Inc.

April 30, 2007 10:53 ET

Neptune Industries, Inc. Announces Acquisition Program and Expanded Business Plan

BOCA RATON, FL -- (MARKET WIRE) -- April 30, 2007 -- Neptune Industries, Inc. (OTCBB: NPDI) announced today that it has undertaken an acquisition program and expanded business plan, with the goal of diversifying the company's business, both vertically and horizontally.

Mr. Sal Cherch, Neptune's Chief Operating Officer, explained, "With the successful closing of our last fund raising, which was over-subscribed, Neptune now will have sufficient funding to complete final testing, and initial marketing of its patent-pending Aqua-Sphere™ technology, to expand operations at our Blue Heron Aqua Farms site, to continue our work with Mississippi State University on development of our patent-pending Ento-protein™ diet, and to engage in strategic acquisitions."

According to Mr. Cherch: "With the development and successful testing of our new, patent-pending technologies, our plan for Neptune Industries is to develop a diversified company engaged in the production, manufacture, importing, processing, distribution and marketing of organic and natural food products, including farm raised fish. Our goal is to build a series of products which are as mutually dependent as possible, so that waste product from one line of business, such as fish farming, can be used as natural fertilizer for growth of other lines of products, which, in turn, will produce natural by-products that can be adapted as feed for our Ento-Protein™ diet. We have already identified potential acquisitions in the seafood processing and distribution business; in manufacturing and distribution of nutritional supplements using natural products; in the manufacturer and distribution of natural and organic products from seaweed and similar ingredients; and in the manufacture of bottled foods, seasonings, sauces and spices. Finally, we have identified and initiated discussions with several large operating fish farms which will allow us to greatly increase our fish production. We hope to close on several of these potential acquisitions before the end of our current fiscal year on June 30, 2007."

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 insuring 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 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:

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.

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