American Seafoods Bolsters Fleet Infrastructure and Fortifies Position as Global Leader in Sustainable Seafood Products; Adds American Empress II to Industry-Leading Fleet of Ultra-Modern Catcher/Processors

American Seafoods Group ("American Seafoods" or "the Company"), a global leader in sustainable protein and one of the world's largest at-sea processors of Wild Alaska Pollock and Wild Pacific Hake, announced today the extension of its global leadership position through the acquisition of Processor Vessel Phoenix from Seattle-based Phoenix Processor Limited Partnership (PPLP).

As part of the acquisition, American Seafoods will rename the vessel, American Empress II, and expects to deploy her for the fall Hake fishing season this August. Adding this vessel to the American Seafoods' fleet further strengthens its ability to efficiently and productively harvest its share of the two most sustainable whitefish fisheries in the world.

"American Seafoods is thrilled to add the American Empress II to our fleet of industry-leading vessels," said Einar Gustafsson, CEO of American Seafoods. "We are at a pivotal time in American Seafoods' history, as we sustainably and responsibly expand and cement our leading position in the Wild Alaska Pollock and the Wild Pacific Hake fisheries. This addition to the American Seafoods fleet represents the latest example of the Company making strategic investments in its capabilities and infrastructure that super-serve our growing worldwide customer base. American Seafoods will continue to lead by example through ocean stewardship, innovation and sustainability."

John Henderschedt, CEO of PPLP, adds, "PPLP is very pleased that the vessel and her crew will find a good home at American Seafoods. This transaction is a win-win for our companies, as we know that AmSea's team have the resources and a vision of a new chapter for the ship as the American Empress II and that the crew is joining a family with a long and strong fishing heritage."

State-of-the-art equipment and pioneering technologies aboard American Seafoods vessels allow the Company to harvest, process, and freeze its catch while still at sea to lock in freshness, taste, and nutrition at the absolute peak. From bow to stern, the Company's gear is engineered to optimize the fishery resources of the Bering Sea and the North Pacific Ocean. Regular upgrades also help improve processing efficiencies and minimize environmental impact.

American Empress II will join American Seafoods' six other Det Norske Veritas (DNV) fishing vessels, including American Dynasty, American Triumph, Katie Ann, Northern Eagle, Northern Jaeger and Ocean Rover. American Empress II's namesake has deep roots within the American Seafoods' history, as sister vessel American Empress was a first-of-its-kind fishing vessel and the Company's original modern factory trawler built by the Company's founder, Kjell Inge Rokke, in 1988.

Financial terms of the acquisition were not disclosed.

About American Seafoods Group

American Seafoods is a leader in the harvesting, processing, preparation and supply of frozen at sea, wild-caught seafood. Harvesting a variety of fish species from the rich, pristine waters of Alaska and the Pacific Northwest, American Seafoods processes seafood into a wide array of finished products on board its state-of-the-art fleet of vessels. American Seafoods produces a diverse range of fillet, surimi, roe and block product offerings, made from Alaska Pollock, Pacific Hake, Pacific Cod, and Yellowfin Sole that feeds more than one billion people per year. Finished products from our sustainable fisheries are sold worldwide through an extensive global distribution and customer support network. From the ocean to the plate, American Seafoods has established a global sourcing, selling, marketing and distribution network bringing sustainably-harvested seafood to consumers worldwide. For more information, please visit us at www.americanseafoods.com.