Hollund Industrial Marine to Negotiate Exclusive Technology License -- Explores Retiring Stock and Reducing Authorized Shares

  Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced the company is underway with two exciting initiatives. The first, negotiating an exclusive license for patented underwater logging technology. The second, exploring the possibility of retiring a significant amount of common stock -- reducing outstanding shares -- in addition to reducing the shares authorized.

"Recent developments in the U.S., Brazil and now even perhaps Asia, are simply too enormous and incredible to ignore," stated Peter Meier, President of Hollund. "Responsibility dictates that we do everything within our means to fully explore and take advantage of each favorable opportunity. For one, we will support the strength of our core competency without veering from our business model. This will be achieved through our securing an exclusive right to market and offer a proven patented technology to underwater logging operators and concessions around the world."

Management has confirmed that executives of Hollund are currently engaged in negotiations with the technology owner to secure a long-term exclusive agreement for the rights to market and operate the patented underwater timber mining robotic system.

Meier continued, "We also must continuously strive to build considerable shareholder value. This includes structurally positioning our company to increase its attractiveness to institutional financing partners as well as potential joint ventures."

Management indicated it is currently exploring a method to responsibly reduce Hollund's outstanding share count. People close to the company believe executives will retire a significant amount of common stock to treasury. Management also indicated this stock reduction may likely be accompanied by a decrease in the company's authorized shares.

Meier concluded, "Doing all that we can to thwart unnecessary dilution is key to engendering shareholder confidence and building the overall intrinsic value for investors."

Within the next 30 days, Hollund executives expect to both successfully secure the exclusive technology license sought and intend to announce an official strategy to retire common stock to treasury and reduce authorized shares.

About Hollund Industrial Marine, Inc. Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (PINKSHEETS: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model -- including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based communities.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.

For investor relations, Hollund Industrial Marine, Inc. [e-mail]

CONTACT: Hollund Industrial Marine, Inc. [e-mail]