Umami Sustainable Seafood Inc. Announces Intent to Move Forward on Acquisition of Baja Aquafarms

By Umami Sustainable Seafood Inc., PRNE
Tuesday, September 28, 2010

NEW YORK, September 29, 2010 - Umami Sustainable Seafood, Inc. (OTC Bulletin Board: UMAM) (the
"Company") today announced that its Board of Directors has decided to move
forward and complete the acquisition of Baja Aquafarms ("Baja"), a leading
producer of bluefin tuna based in Mexico.

As reported in July 2010 the Company acquired a 33% interest in Baja. The
Board of Directors has now decided to exercise its option to acquire the
balance of the shares in Baja, with closing scheduled to take place by
November 30, 2010. Under the terms of the acquisition agreement, as amended,
the total purchase price for 100% of Baja is US$28 million in a combination
of cash and stock (of which US$8 million has been paid to date), together
with various working capital advances to be made to Baja by the Company
through the application of proceeds of inventory sales during the balance of
the year.

In announcing the revised agreements, Oli Steindorsson, Chairman of the
Company stated; "I am very pleased that our Board and that of Baja, have
decided to move forward for Umami to complete the acquisition of 100% of Baja
which is the leading bluefin tuna operation in Mexico. Completion of this
acquisition would represent a key step in our strategy of becoming the
world's leading producer of bluefin tuna. Coming off the back of very
successful fishing seasons in both our Croatian and Mexican operations, we
are in a situation of being well stocked with inventory at a time of sharply
rising prices due to a combination of factors, including increasing global
demand for quality sushi and sashimi."

Mr. Steindorsson continued: "Against the background of our recent
expansion and continuing improvements in our existing operations, we believe
that our financial performance will be significantly enhanced by our
combination with Baja, particularly given the synergy to be derived from
rationalization and consolidation of our marketing and distribution. Baja is
a company with whom we are very familiar and their management team has done a
superb job in developing a world-class bluefin farming operation. Following
the acquisition of Baja and on a combined basis, we believe that Umami will
account for over 20% of the global market for farmed bluefin tuna, which will
elevate the operating scope of our well refined, sustainable production
platform and should enable us to have a meaningful impact on efforts to
normalize the global supply of bluefin which has historically suffered from
overfishing. We are also continually looking at ways to improve our
efficiency, particularly with respect to rationalization of our sales and
marketing and creation of a standardized 'UMAMI' marketing and distribution
platform for our products sold both in Japan and other key markets globally."

Mr. Steindorsson concluded: "We continue to develop and refine our
farming and feeding technologies to further reduce our cost per kilo of
farmed fish, already one of the most efficient in the industry, and will
continue to focus on increasing the profitability of our operations. Most
importantly, we will enhance our efforts in research and development of
captive breeding (closed cycle) technology so that, ultimately, we can ensure
that supplies of this valuable resource are maintained and the bluefin
retains its position at the top of the marine food chain."

For additional details regarding the terms of this transaction, please
review the Company's Current Report on Form 8-K to be filed with the
Securities and Exchange Commission.

About the Company

The Company owns and operates Kali Tuna, which is an established
Croatian-based aquaculture operation raising Northern bluefin tuna in the
Croatian part of the Adriatic Sea. The Company intends to become the leader
in the Northern bluefin tuna industry by acquisition and internal growth. The
growth of the Company will be founded on the sustainable management of
resources and economically sound practices, seeking opportunities resulting
from market consolidation and scientific progress in the industry.

Notice Regarding 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.
Statements in this press release, which are not purely historical, are
forward-looking statements and can include, without limitation, statements
based on current expectations involving a number of risks and uncertainties
and which are not guarantees of future performance of the Company. There are
numerous risks and uncertainties that could cause actual results and the
Company's plans and objectives to differ materially from those expressed in
the forward-looking information, including (i) adverse market conditions;
(ii) any adverse occurrence with respect to the farmed seafood industry
generally or the business of Kali Tuna specifically; and (iii) changes in the
regulatory environment. Actual results and future events could differ
materially from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based on
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Although the Company
believes that the beliefs, plans, expectations and intentions contained in
this press release are reasonable, there can be no assurance those beliefs,
plans, expectations or intentions will prove to be accurate. Investors should
consult all of the information set forth herein and should also refer to the
risk factors set forth in the Company's Current Report on Form 8-K filed on
July 7, 2010, and other reports filed or to be filed from time-to-time with
the Securities and Exchange Commission.

Karl Petur Jonsson, for Umami Sustainable Seafood, Inc., +354-664-0000

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