HQ Sustainable Announces Exercise of Over-Allotment Option by Underwriters

SEATTLE, WA, Jun 30 (MARKET WIRE) --
HQ Sustainable Maritime Industries, Inc. (NYSE Amex: HQS) ("HQS" or the
"Company"), a leader in all natural integrated aquaculture and aquatic
product processing, including fish byproduct personal healthcare
products, today announced that its underwriter exercised an
over-allotment option to purchase an additional 183,750 shares of its
common stock, raising an additional $1.5 million in gross proceeds, prior
to deducting underwriting discounts and commissions and offering expenses
payable by the Company.

HQS granted the option to the underwriter in connection with its
previously announced public offering of 1,225,000 shares at a public
offering price of $8.50 per share, which it closed on June 17, 2009,
raising $10.4 million in gross proceeds, prior to deducting underwriting
discounts and commissions and offering expenses payable by the Company.
The Company expects to use all offering proceeds for general corporate
purposes, including investments in long-term assets to complete its
integration objectives.

Roth Capital Partners, LLC, acted as the sole underwriter of the offering.
Copies of the final prospectus and prospectus supplement may be obtained
from Roth Capital Partners, LLC, Attention: Equity Capital Markets, 24
Corporate Plaza Drive, Newport Beach, CA 92660, by telephone at (949)
720-7194, or via email at rothecm@roth.com.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.

About HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc., headquartered in the United
States, is an integrated aquaculture and aquatic product processing
company, with production facilities in Hainan, PRC. HQS also uses North
American based production facilities for its new line of meal products.
HQS practices cooperative sustainable aquaculture, using nutraceutically
enriched feeds and produces and markets its products. The company is
dedicated to sustainable all natural methods giving its customers the
purest products possible. The Company holds HACCP certification from the
U.S. FDA and the EU Code assignment of quality, permitting its products to
be sold in international markets. The Aquaculture Certification Council,
Inc. (ACC) certified that tilapia processing standards met Best
Aquaculture Practices, and the Chinese government gave organic
certification to the Company's tilapia production, processing, labeling,
marketing and management system. The Company owns a nutraceuticals and
health products subsidiary, which is HACCP and GMP certified, and
produces and sells products subject to stringent laboratory tests
certified by the China Ministry of Health. The Company has recently
completed a 100,000 Metric Tonne annual production extruded Feed Mill
with state-of-the-art extruded feed production equipment. This feed is
highly efficient and is sold to the market and used by HQ's cooperative
farmers. In addition to headquarters in Seattle, HQ has operational
offices in Wenchang, Hainan. The Company's website is:
http://www.hqfish.com.

Safe Harbor Statement

Certain statements in this press release that are not historical facts are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements may be identified by the
use of words such as "anticipate," "believe," "expect," "future," "may,"
"will," "would," "should," "plan," "projected," "intend," and similar
expressions. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements of HQ Sustainable Maritime Industries, Inc.
(the Company) to be materially different from those expressed or implied
by such forward-looking statements. The Company's future operating
results are dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain sufficient capital or a strategic
business arrangement to fund its expansion plans; (ii) build the
management and human resources and infrastructure necessary to support
the growth of its business; (iii) competitive factors and developments
beyond the Company's control; and (iv) other risk factors discussed in
the Company's periodic filings with the Securities and Exchange
Commission, which are available for review at www.sec.gov under "Search
for Company Filings."

Jeffrey Goldberger
KCSA Strategic Communications
212-896-1249
Email Contact

Yemi Rose
KCSA Strategic Communications
212-896-1233
Email Contact

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