Umami Secures Funding for Expansion

Croatian banks extend additional credit to Kali Tuna of US$11.6 million, proceeds to be used as working capital for growing inventories

NEW YORK, October 12, 2010 - The Board of Directors of Umami Sustainable Seafood Inc. ("OTC Bulletin
Board: UMAM") (the "Company") today announced credit facilities of US$11.6
million from Croatian banks to be used to fund the growth of inventory in
Umami's Croatian operation, Kali Tuna. Additionally, Umami has finalized its
previously announced US$15 million line of credit, which was extended to
Umami by its shareholder, Atlantis Group, on June 30, 2010. In addition, the
Company closed on a US$5 million loan from a third party lender. The line of
credit from Atlantis Group and the loan from the third party have been and
will be utilized by the Company to, among other things, partially fund the
Baja Aqua Farms acquisition.

In announcing the additional facilities, Oli Steindorsson, Chairman of
the Company stated: "I am pleased to see the confidence being shown in us
through the availability of a variety of additional credit facilities which
are being provided on attractive terms. We are in the process of accumulating
funds that can be utilized both to finance the growing of inventory,
following record catches this year, and completion of our Baja acquisition,
which will result in Umami becoming the world's leading producer of bluefin
tuna.

We have previously reported the completion of very successful fishing
seasons in our Croatian operations and in Baja Aqua Farms, in which the
Company owns a 33% interest and in which the Company has exercised an option
to acquire the remaining 67%. While this places us in a very strong position
of high levels of livestock at a time of rising prices, we also needed to
secure an adequate supply of working capital so that we can continue
lengthening our farming cycle. Because larger fish result in higher prices,
this helps ensure premium prices at harvest."

Mr. Steindorsson continued: "Against the background of our continuing
improvements in our existing operations and planned acquisition, our
financial performance is particularly satisfying, with consolidated
operations, assuming the acquisition is completed, expected to generate
significantly higher revenue and earnings our fiscal year ending June 30,
2011." Mr. Steindorsson concluded: "We continue to look for opportunities to
enhance high quality farming and processing facilities in our key markets
and, most importantly, will look to extend our well developed sustainability
platform within the industry."

Forward Looking Statements

This press release contains projections and forward-looking statements,
as that term is defined in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or similar
expressions, involving known and unknown risks and uncertainties.
Forward-looking statements are statements that are not historical facts. Such
forward-looking statements, based upon the current beliefs and expectations
of Umami's management, are subject to risks and uncertainties, which could
cause actual results to differ from the forward-looking statements. The
following factors, among others, could cause actual results to meaningfully
differ from those set forth in the forward-looking statements:

    - Continued compliance with government regulations;
    - Changing legislation or regulatory environments, including with
      respect to changes in quotas for Bluefin Tuna;
    - Requirements or changes affecting the businesses in which Umami
      is engaged;
    - Industry trends, including factors affecting supply and demand;
    - Labor and personnel relations;
    - Credit risks affecting Umami's revenue and profitability;
    - Umami's ability to effectively manage its growth, including
      implementing effective controls and procedures and attracting and
      retaining key management and personnel;
    - Changing interpretations of generally accepted accounting
      principles;
    - General economic conditions; and
    - Other relevant risks detailed in Umami's filings with the
      Securities and Exchange Commission available on the SEC's website
      (www.sec.gov).

The information set forth herein should be read in light of such risks.
Umami does not assume any obligation to update the information contained in
this press release.

If you would like more information, or to schedule an interview with Mr.
Steindorsson, please contact Karl Petur Jonsson, by emailing
karl@atlantis-ltd.com, or calling +354-664-0000.

Karl Petur Jonsson, +354-664-0000, karl at atlantis-ltd.com