director reply regarding share price..good news

Many thanks for your e-mail.



We have a shareholder newsletter which was posted on the ASX today (see attached). You will receive it in the mail in the coming days.



I realize the share price has been taking a hit, however I believe we have achieved an awful lot in the past twelve months. Since listing, we have established our company hatchery here in Australia and also made the acquisition of an operational hatchery in the United States. We have further refined our filtration technologies and established out own manufacturing and fabrication facilities for our proprietary equipment. We have further expanded our local production in Australia, as well as establishing production facilities in Europe and the United States. We are now only a matter of months from our first produce in Europe and expecting product out of the U.S. later in the year.



To the best of my knowledge, we are now the only company in the world growing Australian Barramundi across 3 continents.



We have also recently recruited a new Managing Director/CEO, Geoff Wilton, with extensive seafood and international business experience and contacts to drive us into our next phase of development.



I believe we have now built a very solid base for future growth.



That is about all I can divulge to you at this stage. We are working very diligently towards our goal of becoming a world leader in the provision of top quality seafood to major world markets, grown in the most environmentally responsible manner.



Kind regards,



Peter Burns

Sales & Marketing