Mr. Richard Buchanan reports

AGRIMARINE BEGINS REARING SALMON IN CHINA

AgriMarine Holdings Inc.'s third tank at its fish-rearing facility in Benxi, China, has been stocked with the first wave of Pacific Chinook salmon fingerlings. This marks the first time that this type of Pacific salmon will be grown in closed containment within Chinese borders.

High-value species such as salmon are not currently produced by China's commercial aquaculture or capture fisheries. AgriMarine expects that its first environmentally sustainable salmon will compete favourably with European and Chilean imports of fresh and valued-added salmon products.

The second phase of the hatchery modernization in Benxi is currently under way. In addition to the 300,000 Chinook fingerlings that are being prepared for stocking, the newly installed hatchery system will accommodate a wave of 500,000 Canada-sourced Chinook ova which has just arrived as well as the upcoming delivery of 400,000 Coho ova.

"We are pursuing high-value and niche market product opportunities with our new focus on Chinook and Coho salmon," said Richard Buchanan, chief executive officer of AgriMarine Holdings. "The new ova represents 4,000 metric tonnes of product once the salmon are fully grown a year from now."

We seek Safe Harbor.