Neptune Industries, Inc. Signs Letter of Intent for Acquisition

Business Wire, Dec 15, 2004

BOCA RATON, Fla. -- Neptune Industries, Inc. (Pink Sheets:NPNI), Boca Raton, Florida, today released information that the Company has executed a Letter of Intent to acquire Move Films, Inc., a fully reporting public shell that does not trade. The acquisition would result in Neptune becoming a fully reporting public company.

Corporate securities counsel, Robert Hipple, explained, "We anticipate concluding this transaction prior to year end. The Company is anxious to provide information to its shareholders and the investment community. The acquisition and reporting status will set the stage for the Company to pursue a listing on the Bulletin Board."

Neptune Industries, Inc. is a diversified seafood company specializing in farmed production, processing, distribution, value-added products, and alternative energy technology for worldwide applications. The Company is a leading producer of hybrid striped bass which it markets internationally as "Everglades Striped Bass."

For further information, visit the Company's website at http://www.neptuneindustries.net or call Sal Cherch at 561-638-5974.

Safe Harbor Statement

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.