Neptune Industries, Inc. Announces Commencement of Phase 2 Research Trials on Ento-Protein(TM)

Neptune Industries, Inc. (OTCBB: NPDI) announced today that its Aqua Biologics, Inc. subsidiary has begun its Phase 2 research trials with Mississippi State University on the development of its patent pending Ento-Protein™. Ento-Protein™ is a high quality sustainable protein derived from insects, and is intended to be a replacement for the declining fishmeal products now used in fish and animal diets. This phase of research will include feeding trials on hybrid striped bass with diets substituting 100% of the dietary fishmeal component with Ento-Protein™ meal. Concurrently, the Company is structuring the final Phase 3 research for extended growth trials, which are anticipated to begin in October. The successful completion of Phase 3 trials would pave the way for the implementation of commercial production.

Mr. Sal Cherch, Chief Operating Officer, stated, "We are extremely pleased with the results of our Phase 1 research efforts, and strongly believe that Ento-Protein™ will successfully provide a sustainable, all-natural fishmeal substitute. A staggering 25% of all world fish production goes into fishmeal and fish oil. The world supply of fishmeal is so isolated geographically, that every metric tonne of fishmeal travels an average of 5000 km before it reaches the end user. This has enormous economic implications in supplying the global markets. Our ability to locate Ento-Protein™ production sites worldwide would provide a viable solution to this serious problem. The key to the rapid and successful expansion of global seafood production is through the sustainable commercial production of a high quality dietary protein. Ento-Protein™ is the logical choice to eliminate the industry's dependence upon wild fishmeal as a dietary protein."

Based in Boca Raton, Florida, Neptune Industries, Inc. has developed a scalable, modular aquaculture technology called Aqua-Sphere™ and Aqua-Cell™ that successfully address the environmental concerns of most aquaculture operations by controlling and recycling all waste products, while insuring the production of the highest quality fish at an affordable price. The company currently operates the Blue Heron Aqua Farms in Florida City, FL and is a leading producer of hybrid striped bass, which it markets internationally as Everglades Striped Bass™. The company's current production at its Blue Heron farm, and future production with Aqua-Sphere™ System technology are intended to target the organic market as soon as organic certification of farm-raised seafood becomes available. The Company is also in development of an advanced dietary nutritional component called Ento-Protein™. Ento-Protein™ is a high quality sustainable protein derived from insects, and is intended to be a replacement for the scarce fishmeal now used in fish and animal diets. For further information, please visit the Company's website at: www.neptuneindustries.net

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.