TriMarine Forms New Fishing Company

Global Tuna Company Intends to Expand Fishing Operations


SAN PEDRO, CALIFORNIA - April 19, 2001

TriMarine International, Inc. announced today that it has formed CAPE FISHERIES HOLDINGS, LP to acquire and operate tuna fishing vessels affiliated with the TriMarine Group of companies.

"The projected expansion of our tuna fishing activities follows our recent divestiture of our ownership interest in Chicken of the Sea," said Renato Curto, President of TriMarine International, Inc. "TriMarine is a strategic supplier of raw material to the tuna industry worldwide. To maximize the reliability of supply to our customers, it is important that we increase the size of our fishing fleet as well as our operating resources."

Kenny Alameda, a well-known and respected tuna industry entrepreneur, has been appointed as President and Chief Operating Officer of the new company. "Kenny has been involved in the tuna industry his entire life and has tremendous experience in all aspects of it," added Curto. "I am very pleased that he has decided to join us, both as an executive and as a partner. His sound judgment, leadership skills and integrity will help TriMarine achieve its goal of being a leading owner and operator of tuna fishing vessels."

TriMarine is presently negotiating the acquisition of suitable fishing vessels to be employed in its fisheries development plan. Details of such negotiation were not disclosed.

Background on Tri Marine

TriMarine is a premier independent strategic supplier of raw material to the global tuna industry. Its activities include fishing, trading, processing and marketing primarily of tuna and tuna products. TriMarine was formed in Singapore in 1972. Since then the company has grown to be one of the largest tuna trading company in the world. Its subsidiary companies, own or otherwise control processing plants, fishing assets and operations and representative offices located strategically around the world.