SOURCE: Neptune Industries, Inc.

March 29, 2007 09:57 ET

Neptune Industries, Inc. Launches a Closed Containment Aquaculture System, The Aqua-Sphere™

USDA Urged to Prohibit Net-Cage Systems in Favor of Containment Systems From U.S. Organic Standards

BOCA RATON, FL -- (MARKET WIRE) -- March 29, 2007 -- Neptune Industries, Inc. (OTCBB: NPDI) announced today that it has installed the first of its patent-pending Aqua-Sphere™ seafood production systems at its new site in Florida City, Florida. The commencement of testing on this cutting-edge technology begins just as the National Organic Standards Board (NOSB) has issued its recommendations to the U.S. Dept. of Agriculture (USDA), that all fish produced in "open-net cages" or pens will not qualify for organic certification. If the USDA accepts these recommendations, this would virtually eliminate species such as salmon, sea bass, and other species produced almost exclusively in open-net pens. The industry is being urged to transition from open-net cages to closed containment systems such as the Aqua-Sphere™. Closed containment technology would eliminate many of the environmental problems associated with open-net cage fish farms such as solid waste pollution, spread of parasites, predation, and escapism. These issues are critical for Organic certification, environmental preservation, and cannot be properly controlled in open-net cages.

Mr. Ernest Papadoyianis, President, stated, "Following years of extensive research, Aqua-Sphere™ is in the final stages of development before market introduction. Aqua-Sphere™ will provide the farmed seafood industry with an eco-friendly production system that provides the ability to raise countless varieties of seafood virtually anywhere in the world. We look forward to providing disruptive technology to meet the stringent production requirements for U.S. and global Organic Standards. Aqua-Sphere™ utilizes alternative energy sources to provide system power so it can be productive in remote areas which previously could not be utilized. The global fish farming industry has been searching for a safer, more reliable and economical system, it is now available in Aqua-Sphere™."

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 as soon as 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:

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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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