Tri Marine Expands in Mexico

Forms Baja Marine Foods and Acquires Sardine Plant in Ensenada

San Pedro, California, 26 July 2010

Tri Marine Fish Company LLC of San Pedro, California, announced today the formation of Baja Marine Foods S.A.P.I. de CV. Located in Ensenada, B.C. Mexico, Baja Marine Foods is engaged in the fishing, procurement, processing, and marketing of sardines and other seafood products.

"Baja Marine Foods perfectly complements the activity of Tri Marine Fish Company," said Anthony Vuoso, Managing Director of Tri Marine Fish Company. "In addition to the reduced fishing quotas and seasonality, Tri Marine's business in San Pedro has been limited by the uncertainty of renewal of Tri Marine's lease from the Port of Los Angeles. Tri Marine's investment in Mexico will help to ensure both continuity and expansion of supply of high quality products to our customers."

Baja Marine Foods is a joint venture company, owned 60% by Tri Marine and 40% by Martin and Adrian Gutierrez. Its initial operating assets have been acquired from the Gutierrez family. Adrian Gutierrez will serve as General Manager.

"We are very happy to have become part of the Tri Marine family and we are looking forward to the combination of our local experience with Tri Marine's ample industry knowledge and marketing network" said Adrian Gutierrez. "Given the abundant resources available here in Baja California, we are looking forward to the implementation of our growth plans which will make Baja Marine Foods a significant player in the wet fish business".

Tri-Marine Fish Company (TMFC) is a full service company engaged in the, fishing, procurement, processing and marketing of sardines, squid, mackerel and other seafood products worldwide. TMFC forms part of the larger Tri Marine Group of Companies (Tri Marine).

Background on Tri Marine

Tri-Marine is a privately owned Group of Companies, primarily dedicated to fishing, procurement, processing and trading of tuna and other seafood products. Its main focus is the supply of tuna and tuna products to the world leading brands. Headquartered in Bellevue, Washington, Tri Marine has offices in 14 countries with 10 processing plants located strategically around the world. Its owned fleet of 14 tuna purse seiners operates mostly in the Western Pacific. Tri-Marine was founded in Singapore in 1971. Since then it has grown to be one of the largest tuna supply companies in the world and it provides an efficient, cost effective and flexible supply strategy for its customers. Tri Marine serves famous brands, processing plants and fishing companies.