AgriMarine Signs Collaborative Research & Development Agreement With Chinese Fisheries Institute

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Source: Marketwire

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/29/11 -- (TSX VENTURE: FSH)(FRANKFURT: A2G)(OTCQX: AGMHF) AgriMarine Holdings Inc. (the 'Company' or 'AgriMarine'), the leader in floating closed containment technology and production for sustainable finfish aquaculture, and Pearl River Fisheries Research Institute ('Pearl River') in Guangzhou, Guangdong Province, People's Republic of China, are pleased to announce the signing of an agreement for the collaborative research, development and commercialization of vaccines for the prevention and treatment of various bacterial and viral diseases affecting cold water fish (the 'Agreement').

The Agreement sets the stage for collaboration between AgriMarine and Pearl River to combine their scientific expertise to develop fish vaccines not currently available in China. Under the terms of the Agreement, Pearl River will provide the technical expertise and equipment for the isolation and culture of various cold water fish pathogens for the commercial production of corresponding vaccines. AgriMarine will provide, through access to its personnel and its Science and Technology Development Committee, the know-how to culturally and genetically manipulate such pathogens to derive effective vaccines and additionally advise on certification and registration of the vaccines for use in China.

'We are taking this initiative in China, not only in terms of safeguarding the health of the fish in AgriMarine's salmon rearing facilities in Benxi, but also to collaborate with the Chinese Government in providing assistance to all its cold water fisheries,' said Dr. Lawrence Albright, Chair of AgriMarine's Science and Technology Development Committee. 'Pearl River possesses excellent laboratories and scientific staff, and has world class manufacturing facilities in place to accelerate commercial production of vaccines.'

Pearl River is a branch institute of the Chinese Academy of Fisheries Science (the 'Academy'), a scientific research organization reporting directly to the Ministry of Agriculture. The Academy plays an influential role in national fisheries science and management policy and supports advances and developments in fisheries engineering and technology. In total, the Academy oversees 9 fisheries research institutes and 4 fisheries resources enhancement stations located throughout the country.

Since its founding, Pearl River has been credited with over 100 scientific achievements of great significance, many contributing either academically or economically to China's aquaculture development over the past decade.

About AgriMarine Holdings Inc.

AgriMarine is in the business of producing salmon sustainably in its floating closed containment farms in Asia and North America, while the technology can be applied worldwide for the rearing of trout, salmon and other finfish such as tuna. AgriMarine's technology resolves many of the environmental issues created by present net cage rearing practices and permits the installation of fish production systems in close proximity to consumer markets.

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

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

AgriMarine Holdings Inc.
1810 - 999 West Hastings Street, Vancouver, B.C.
V6C 2W2
www.agrimarine.com

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