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Neptune Technologies Reports Record Fiscal 2008 Fourth Quarter and Year End Results
Date:8/28/2008

pplication (IND) with the Food and Drug Administration (FDA) in the United States and for a clinical trial application (CTA) with Health Canada. In parallel, Neptune continues the development of other pharmaceutical applications including neurodegenerative disease.

The Company intends to strengthen its financial position in order to effectively carry out its strategic plan. Neptune expects to raise up to US$14.5 million in a debt financing arrangement comprised of convertible debentures with a conversion floor price to provide for minimum dilution for expected gross proceeds of US$4 million to US$8 million. Neptune warrants and call options on the shares of Acasti Pharma, held by Neptune, are attached to the debenture. In addition, a bank debt financing of US$6.5 million to refinance Neptune long-term debt and to increase productivity and production capacity is under negotiation.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

Financial Results 2008

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Revenues for the fourth quarter of fiscal year 2008 ended May 31, 2008 increased 80.4% to a fourth-quarter record $3,135,000 compared to $1,738,000 in the fourth quarter of the previous fiscal year, ended May 31, 2007. For the fiscal year 2008, ended May 31, 2008 revenues increased 26.3% to a record $10,264,000 compared to the previous fiscal year, ended May 31, 2007 of $8,126,000.

For the fiscal year 2008, en
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SOURCE NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.
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