SOURCE: Neptune Industries, Inc.

December 29, 2006 08:00 ET

Neptune Industries, Inc. Announces Receipt of Hurricane Reimbursement

BOCA RATON, FL -- (MARKET WIRE) -- December 29, 2006 -- Neptune Industries, Inc. (OTCBB: NPDI) announced today that its farming subsidiary, Blue Heron Aqua Farms, LLC, which operates a fish farm in South Florida, received reimbursement from the State of Florida in the amount of $75,171 in November, representing a recovery of part of the operating losses resulting from hurricane damages to the farm in 2005.

Sal Cherch, Chief Operating Officer, explained, "We are extremely pleased that the State of Florida has reimbursed Blue Heron for some of the losses incurred during the 2005 hurricane season. That financial assistance combined with the implementation of our rapid recovery program and an increased demand for our products has resulted in Blue Heron attaining a break-even status. With expansion now underway for Blue Heron to double its production we anticipate that profitability should not be far off."

Based in Boca Raton, Florida, Neptune Industries, Inc. has developed scalable, modular aquaculture technologies called Aqua-Sphere™ and Aqua-Cell™ that successfully address the environmental concerns of most aquaculture operations by controlling and recycling all waste products, while ensuring 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 once such certification is available. For further information, please visit the Company's website at: www.neptuneindustries.net

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.

Contact Information

  • Contact:

    Sal Cherch
    561-638-5974