Press Release

In this Issue (1) Innovative fish farm to lead Australian seafood supply - Pisces Marine Aquaculture (NSXCODE: PAQ) (2) New Nominated Adviser - Hunt & Hunt (3) Joint Ore Reserves Committee - Exposure Draft for Comment (1) Innovative fish farm to lead Australian seafood supply Hunter based business, Pisces Marine Aquaculture Limited, is preparing to become a world-class seafood producer. Pisces is Australia’s first open ocean aquaculture project and is unique to the Australian Aquaculture industry. Its farm is based 3km offshore at Port Stephens. It currently farms 10 percent of the total snapper catch in NSW and with its nearing public listing on the Stock Exchange of Newcastle (NSX), it is set to meet a decreasing supply of fish for the seafood market. Pisces Chairman, Andrew Bald, said that approximately 60 percent of Australia’s seafood was imported from overseas and 85 percent of all seafood consumed in NSW comes from overseas or interstate. “We are a regional producer of Snapper and Mulloway and have strategically positioned the operation to build an internationally competitive operation that will enable Australia to emerge as a leader in world best practice aquaculture,” Mr Bald said. According to NSX General Manager, Scott Evans, Pisces is an excellent example of innovation in the Hunter Region in general and agriculture specifically. He added that with the assistance of investors, Pisces would be able to continue their push to compete in the domestic and international seafood markets. The NSX expects Pisces to start trading on the Agriculture and Agribusiness Board of the NSX around 1st May 2003. More information concerning Pisces can be found on their website at http://www.pisces.com.au and details concerning the float on the NSX Floats Page http://https://www.nsx.com.au/floats/floatdetails2.asp?nsxcode=PAQ. Fulls details of industrial, mining and agricultural stocks trading on the NSX can be found at: http://https://www.nsx.com.au/prices/industry.asp (2) New Nominated Adviser recognised - Hunt & Hunt Lawyers NSX welcomes Hunt & Hunt Lawyers Leading law firm Hunt & Hunt has joined NSX as a nominated advisor. Hunt & Hunt's over 70 year history in the legal profession has seen it grow to become the only truly national legal group with offices in every State and Territory capital, as well as a regional office in Newcastle. The Group also offers clients global reach through its offices in Shanghai and Auckland, and membership of the international legal network Interlaw. Specialising in corporate, insurance and property law, the Group advises a broad cross section of national and international clients across a range of industry sectors. The firm's Newcastle office, in particular, advises manufacturers, export companies, major insurers, small businesses, building societies & financial institutions, local government, Government instrumentalities and building and construction companies. According to Partner, Grant Sefton, Hunt & Hunt is more than a legal group. 'We are legal advocates, business advisers, industry partners, contributors to the community through our involvement in business groups and sponsorship programs and, very importantly, an employer,' Mr Sefton said. More information about Hunt & Hunt is available from the Hunt & Hunt website: http://www.hunt-hunt.com.au (3) Joint Ore Reserves Committee Following approval of the Joint Ore Reserves Committee’s (“JORC’s”) three parent bodies, the Minerals Council of Australia, The Australasian Institute of Mining and Metallurgy, and the Australian Institute of Geoscientists, JORC is now pleased to issue an Exposure Draft of the 2003 JORC Code for public exposure and comment. Comment should reach the Secretary of JORC by the 28 th of February 2003. The Exposure Draft will be placed on JORC’s web site, http://www.jorc.org, and comments can also be e-mailed to mailto:info@jorc.org. Further information is available from the NSX at: http://https://www.nsx.com.au/wnews/newsview.asp?ID=61