Neptune Industries, Inc. Accelerates Development of Its Closed Containment System Technology, the Aqua-Sphere(TM)

Market Wire, May, 2007

Neptune Industries, Inc. (OTCBB: NPDI) announced today that it has accelerated the development and testing of its patent-pending Aqua-Sphere(TM) seafood production system at its site in Florida City, Florida. The Company is increasing its staff, and appointed Vice President of Operations, Michael Joubert, as the designated team leader to oversee the development plan. British Columbia's salmon farming industry, estimated at close to $500 million/year, is being urged to transition from open-net cages to closed containment systems such as the Aqua-Sphere(TM). Closed containment technology would eliminate many of the environmental problems associated with open net-cage fish farms such as solid waste pollution, spread of parasites, predation, and escapism. These issues are critical for environmental preservation, Organic certification, and cannot be properly controlled in open net-cages.

Mr. Ernest Papadoyianis, President, stated, "An important paradigm shift has begun in our industry. There is a realization by governing bodies that we must transition our farming operations to eco-friendly, energy efficient farms that can reduce environmental impact and escapism. The recommendations issued last month by the National Organic Standards Board to the USDA that all fish produced in 'open-net cages' or pens will not qualify for organic certification is being heard and considered for its merit on a global basis. The provincial government of British Columbia has now stepped up with a recommendation that all of its fish farmers transition to closed containment systems within a 5-year period. These precedents, along with a tremendous amount of demand from the private sector worldwide, have caused our Company to accelerate our timeline projections for bringing Aqua-Sphere(TM) to market. As such, we are in the process of adding additional personnel to our development team, are hiring others, and have allocated 100% of Mr. Joubert's time to focus on this project. We anticipate the initial stocking of fish into the system before the end of this month. We look forward to providing an economically and environmentally sound solution to the BC farmers, organic seafood producers, and others worldwide."

Based in Boca Raton, Florida, Neptune Industries, Inc. has developed a scalable, modular aquaculture technology called Aqua-Sphere(TM) and Aqua-Cell(TM) 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(TM). The company's current production at its Blue Heron farm, and future production with Aqua-Sphere(TM) 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(TM). Ento-Protein(TM) is a high quality sustainable protein derived from insects, and is intended to be a replacement for the scarce fish meal now used in fish and animal diets. For further information, please visit the Company's website at: www.neptuneindustries.net

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.

Investor Relations Contact: American Capital Ventures, Inc. 305-918-7000 Email: Info@amcapventures.com