Ocean Nutrition and Alicorp Announce Joint Venture

    Ocean Nutrition Increases Omega-3 Fish Oil Production Capacity By 200%

    HALIFAX, April 19 /CNW/ - Ocean Nutrition Canada Limited (ONC), supplier
of MEG-3(R) brand Omega-3 EPA/DHA functional food and dietary supplement
ingredients, is pleased to announce that it has signed a Joint Venture
Collaboration Agreement with Alicorp S.A.A, Peru's leading edible oils and
food manufacturer. The result of this collaboration is that, effective April
2007, Ocean Nutrition Canada will open an Omega-3 fish oil manufacturing
facility in Peru. When combined with ONC's existing manufacturing facility in
Nova Scotia, Canada the new plant in Peru will more than double ONC's total
output capacity. Furthermore, ONC will become the only company, in the world,
with two full scale, GMP, Omega-3 fish oil refining and manufacturing
    ONC will immediately increase its capacity to manufacture standard 18:12
fish oil by over 200% and increase its Omega-3 high concentrate oil capacity
by over 50%. The ONC-Alicorp Joint Venture will continue to invest an
additional 10 million in capital, over the next twelve months, on new Omega-3
oil refining equipment which will further expand its production capacity
keeping ONC well ahead of the exponential growth in consumer demand for
Omega-3 food and supplement products.
    Alicorp is Peru's largest food manufacturer and one of the fastest
growing food companies in South America. It is a vertically integrated
manufacturer and marketer of leading consumer brands of flour, cookies, pasta,
ice cream, soaps and detergents. Alicorp is also the largest producer of
edible oils in Peru, has many years of experience in oil refining, and is an
excellent partner for ONC because of their high quality standards and ability
to manufacture to GMP and HACCP standards. ONC has invested in technology
transfers to Alicorp over the last 24 months so that the Omega fish oil
ingredients manufactured in Peru are made to the highest quality world
standards established by the MEG-3(R) brand.
    Leslie Pierce DC, General Manager of Alicorp, said "Partnering with Ocean
Nutrition is strategically important because they are the global leader in
quality for Omega-3 ingredients. Their MEG-3(R) brand is rapidly becoming
known across the world as the consumer symbol of quality on both supplement
and food brands."
    Robert Orr, President and CEO Ocean Nutrition Canada, said, "We are
thrilled to have partnered with Alicorp, one of the world's great food
companies." Orr continued, "Our many food and supplement customers around the
world can now enjoy the benefits of unprecedented multi-site capacity and
quality manufacturing, for both our oil and micro- encapsulated ingredients.
Alicorp management and staff are outstanding and we share the same values of
quality and a desire to create health and wellness for our customers through

    About Ocean Nutrition Canada Limited (ONC):

    Ocean Nutrition Canada is a privately held company, whose major
shareholder is Clearwater Fine Foods Incorporated. Clearwater Fine Foods
Incorporated is a diversified holding/investment company whose significant
holdings include a controlling interest in Clearwater Seafood's Limited
Partnership, the world's largest integrated shellfish harvester and processor.
    ONC is in the business of discovering, manufacturing, and marketing
Omega-3 ingredients that improve human health. Ocean Nutrition Canada has a
broad customer base, which includes multi-national companies in both the
dietary supplement and the food categories. In 2006, the MEG-3(R) EPA/DHA
ingredient was in 8 billion supplement servings and 2 billion food servings
worldwide. For more information on the health benefits of MEG-3(R) ingredients
please visit www.meg-3.com

    About Alicorp Corporation Limited

    Alicorp is an international class company engaged in the production and
commercialization of food products that meet the needs and expectations of our
clients in any market. Our people have a very strong entrepreneurial spirit
and are committed to setting new standards of excellence in client
satisfaction. Our company has achieved new levels of competitive success in
each business category in which we compete, for the benefit of our
shareholders, our clients and consumers, our workers and the communities in
which we operate.

For further information:

For further information: Lori Selig, Ocean Nutrition Canada Ltd., (902)
480-3210, www.ocean-nutrition.com; Jaime Butrich Velayos, Alicorp S.A.A, (511)
315-0800, www.alicorp.com.pe

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