AQUA BIO TECHNOLOGY ASA (ABTEC) - LOI Signed Between Jetcarrier AS and Hofseth International AS

Norway, May 21 -- Aqua Bio Technology (ABTEC)'s wholly owned subsidiary Jetcarrier AS (Jet) has signed a Letter of Intent (LOI) with Hofseth International AS (HI) for transportation services worth potentially NOK 40-50 million annually.The intention is for Jet to facilitate the shipment of approximately 1,000 containers per year, or 16-22 per week, of frozen fish, primarily to North America.Upon entering into a final agreement, Jet will require 12 months of exclusivity.HI is one of Norway's largest producers and a major international supplier of salmon and processed salmon products.

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