AgriMarine's Salmon Harvest in Progress

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Source: Marketwire

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/21/11 -- AgriMarine Holdings Inc. (TSX VENTURE: FSH)(OTCQX: AGMHF)(FRANKFURT: A2G) (the 'Company' or 'AgriMarine'), the leader in floating solid-wall containment technology for sustainable aquaculture, is pleased to announce that it has begun to harvest the Company's first crop of Chinook salmon ever reared in solid-wall closed containment in the People's Republic of China.

AgriMarine has successfully proven its unique, clean technology for rearing salmon in the Benxi region of the PRC. Situated on the Guanmenshan Reservoir, where ambient temperatures range from -30 degrees C in the winter to 30 degrees C in the summer, the Company's farm is rearing Rainbow trout and Chinook salmon to a desired market size in approximately 14-16 months. Because of its proprietary patented design, the Company's floating tanks outfitted with low-pressure pumping systems ensure that optimal water temperatures are maintained year-round. AgriMarine's cost competitive technology bridges the gap between traditional fish farming methods and high cost land-based tanks while producing fish sustainably with no negative impact to the aquatic environment.

The harvest at Benxi will continue through the summer and fall, and the fish will be sold through distributors to 5-Star hotels and restaurants. The Company previously announced its expansion at the Benxi farm to four 24-metre tanks. Two additional tanks are now being fabricated and scheduled for delivery later this summer which will increase production capacity for fish sales in 2012.

AgriMarine delivers freshly harvested fish 'next day' to major Chinese markets, without being subject to import taxes or international air freight charges. At present, imported fresh salmon takes up to four days to arrive in Chinese markets after being flown in from Europe or the Americas. Since December 2010, salmon imported from Norway has been subject to additional inspections, resulting in lengthy quarantines of up to 14 days.

About AgriMarine Holdings Inc.

AgriMarine has developed and commercialized proprietary floating closed containment technology to produce salmon sustainably in its farms in China and Canada. The technology can be applied worldwide to the rearing of other finfish such as trout, tuna, and yellow croaker. AgriMarine's technology creates an optimal fish rearing environment, offers a better farm management system with added environmental benefits over net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture.

Forward-Looking Information

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as 'anticipate', 'believe', 'plan', 'estimate', 'expect', and 'intend', statements that an action or event 'may', 'might', 'could', 'should', or 'will' be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

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Contacts:
AgriMarine Holdings Inc.
Richard Buchanan
President and CEO
(604) 568-4672
rbb@agrimarine.com

AgriMarine Holdings Inc.
Alexia Helgason
Manager, Media Relations and Marketing
(604) 728-4407
alexia@agrimarine.com
www.agrimarine.com

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