Joint venture agreement to incorporate AQUALIFE NORTH AMERICA INC. Announcement # 24

AQUALIFE A/S has signed a joint venture agreement to incorporate AQUALIFE NORTH
AMERICA INC. The company will be incorporated in Canada and will be based in
Halifax, Nova Scotia. The share capital will be distributed equally between
AQUALIFE A/S and Halifax-based Cleantech Logistics Inc. Aqualife North America
Inc will be managed by CEO Mr. Gordon Neal. 

Aqualife North America Inc will utilize technology patented by Aqualife A/S and
A. P. Møller-Mærsk group to further develop the Aqualife traffic corridor
between Eastern North America and Western Europe. 

Aqualife North America is constructing an Aqualife Aquaport in Halifax, Canada
to consolidate live seafood shipments over this route. This is in keeping with
the Aqualife A/S objective of establishing live seafood transportation
corridors globally. 

One of the company's key objectives is to execute on the memorandum of
understanding signed earlier in 2009 with the provincial government of Nova
Scotia to establish the Aqualife Aquaport in Nova Scotia. The Aquaport will be
completed in 2010. 


Yours Sincerely, 
Aqualife A/S
Lars Nannerup
CEO