AgriMarine Signs Letter of Intent With Marine Harvest (Norway)-A Leading Salmon Producer Worldwide

AgriMarine Holdings Inc. (TSX VENTURE:FSH)(OTCQX:AGMHF)(FRANKFURT:A2G) (the
"Company" or "AgriMarine"), the leader in floating solid-wall containment
technology and production for sustainable aquaculture, is pleased to announce
that its subsidiary, AgriMarine Norway AS, has signed a Letter of Intent with
Marine Harvest ASA ("Marine Harvest") for a demonstration site using
AgriMarine's core technology to increase salmon production capacity up to 1 kg.
Under the terms of the proposed demonstration project, AgriMarine's solid-wall,
floating closed containment tank would be tested and adapted for the production
of salmon in Norway. A successful demonstration of the AgriMarine System may
result in a Definitive Agreement with Marine Harvest in the near future.


Geir Spiten, President of AgriMarine Norway, said, "We are confident that the
Letter of Intent is the first step in establishing a business relationship with
Marine Harvest aimed at the commercialization of AgriMarine's technology for
sustainable aquaculture in Norway. This new project follows previous
announcements of two other projects in conjunction with Norwegian salmon
companies that aim to demonstrate the economic benefits of the AgriMarine System
over conventional net cage systems."


Cato Lyngoy, Group Technical Manager Technology & Environment, Marine Harvest,
said, "We look forward to working with AgriMarine to establish the first
application of the AgriMarine System in Norway during the current production
year. Our objective is to test AgriMarine's technology to support semi-contained
postsmolt production of fish up to 1 kg."


"Establishing a strategic relationship with a recognized industry major and
receiving industry validation is a priority for AgriMarine's management. Marine
Harvest is the world's largest farmed salmon producer and we are confident of
the benefits that our system will bring to the industry," added Mr. Spiten.


About AgriMarine Holdings Inc.

Canadian-based AgriMarine is an aquaculture technology company engaged in the
development, commercialization and licensing of proprietary solid-wall closed
containment systems for the rearing of finfish. The Company utilizes its
innovative, clean technology to rear salmon and trout in its farms in China and
Canada. The AgriMarine System can be applied worldwide in warm or cold climate
conditions, in oceans, reservoirs and lakes. The AgriMarine System addresses
sustainability issues in finfish aquaculture, creates an optimal fish rearing
environment, offers a better farm management system with added economic and
environmental benefits and meets consumer and retailer demands for sustainable
aquaculture.


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