For Immediate Release

Aqua Bounty Technologies, Inc. Completion of £20 million placing

March 15, 2006

Aqua Bounty Technologies, Inc. announced that it has successfully placed, conditional upon admission, 13,513,513 million common shares with institutional investors at 148 pence per share raising £20 million before expenses. The Placing comprises the placing of 820,801 existing common shares on behalf of selling shareholders (to raise gross proceeds of approximately £1.2 million) and the placing of 12,692,712 new common shares on behalf of the Company to raise gross proceeds of approximately £18.8 million).

Aqua Bounty's expected market capitalization at the Placing Price will be approximately £74 million. Dealings in the common shares are scheduled to commence on AIM, the market of that name operated by the London Stock Exchange on 20 March 2006, under the symbol ”ABTX”. The Placing is fully underwritten by Nomura Code Securities.

The Company intends to use the net proceeds from the Placing for additional launches of its lead product, Shrimp IMS in the key markets of the Americas and Asia as well as for the commercialization of its developmental products. Shrimp IMS is an immune stimulant that has been shown to increase significantly survival of farmed shrimp and productivity of shrimp farms.

Other products in development include:

• VPX, an innovative product which provides protection against White Spot Syndrome Virus (“WSSV”), the most lethal disease affecting shrimp. VPX is scheduled for launch in 2007;
• Currently marketed diagnostic kits for the rapid detection of common shrimp and salmon infections; and
• AquAdvantage™ broodstock, fast growing strains of fin fish scheduled for launch in 2009, which will be able to increase significantly the profitability of existing commercial fish farming.

Aqua Bounty provides solutions to aquaculture's production problems along the entire supply chain, from early diagnosis to treatment and prevention of disease. The Company targets premium sectors of the aquaculture industry and its goal is to provide commercial producers with a full portfolio of products.

Commenting on today's announcement, Elliot Entis, Aqua Bounty's Chief Executive Officer, said: “We are delighted with the positive response we have received from a base of highly regarded international investors in support of the flotation of Aqua Bounty. Listing on AIM marks an important step in our goal to become the leading provider of biotechnology products to the rapidly growing aquaculture market

“We are constantly striving to discover, develop and commercialize new technologies for a sustainable aquaculture industry. With the funds raised from the placing we will have sufficient resources to develop our marketing capabilities for existing products, accelerate the development of our products in the pipeline and achieve marketing approvals from the major regulatory agencies worldwide.

“Aqua Bounty is well positioned to capitalize on the growth of the worldwide aquaculture market. We have innovative products in the market and in the pipeline that we believe have the potential to deliver substantial value to both our customers and our shareholders.”

Print this release.