American Seafoods Group LLC and American Seafoods Finance, Inc. Announce Extension of Their Tender Offer for Their 10 1/8% Senior Subordinated Notes due 2010.

SEATTLE -- American Seafoods Group LLC and American Seafoods Finance, Inc. announced today that, as part of their previously announced tender offer and consent solicitation for their outstanding 10 1/8% Senior Subordinated Notes due 2010, they are extending the tender offer expiration date. The tender offer, which had been set to expire at 5:00 p.m., New York City time, on July 27, 2004, will be extended to 5:00 p.m., New York City time, on Tuesday, August 10, 2004 (the "Tender Offer Expiration Date"), unless extended by American Seafoods.

The closing of the initial public offering and the other financing transactions contemplated by the registration statement on Form S-1 (Registration No. 333-105499) is a condition precedent to the consummation of the tender offer. On July 20, 2004 American Seafoods filed Amendment No. 8 to its registration statement on Form S-1 with the Securities and Exchange Commission.

The consent expiration date was 5:00 p.m., New York City time, on September 26, 2003. Holders who desired to receive the consent payment and the tender offer consideration must have both validly consented to the proposed amendments and validly tendered their Notes pursuant to the offer on or prior to the consent expiration date. Holders who validly tender their Notes after the consent expiration date will receive the tender offer consideration, which is $1,170.00 per $1,000 principal amount of Notes, but not the consent payment. As of the close of business on September 26, 2003, which was the consent expiration date and the last day on which validly tendered Notes could have been withdrawn, American Seafoods had received the requisite consents to the proposed amendments to the Indenture governing the Notes. Consequently, the proposed amendments were incorporated in the Third Supplemental Indenture, which was executed and delivered on September 26, 2003, by and among American Seafoods Group LLC, American Seafoods Finance, Inc., the guarantors listed on Schedule A thereto and Wells Fargo Bank, National Association, as trustee. The proposed amendments to the Indenture, which will not become operative unless and until the Notes are accepted for purchase by American Seafoods, will eliminate substantially all of the restrictive covenants, certain repurchase rights and certain events of default and related provisions contained in such indenture.

As of July 27, 2004, all of our existing senior subordinated notes had been validly and irrevocably tendered.

Consummation of the offer is subject to certain conditions, including consummation of certain financing transactions contemplated by the registration statement on Form S-1 filed with the Securities and Exchange Commission by American Seafoods Corporation. Subject to applicable law, American Seafoods Group LLC and American Seafoods Finance, Inc. may, in their sole discretion, waive or amend any condition to the offer or solicitation, or extend, terminate or otherwise amend the offer or solicitation.

Credit Suisse First Boston, or CSFB, is the dealer manager for the offer and the solicitation agent for the solicitation. MacKenzie Partners, Inc. is the information agent and Wells Fargo Bank, National Association is the depositary in connection with the offer and solicitation. The offer and solicitation are being made pursuant to the Offer to Purchase and Consent Solicitation Statement, dated September 15, 2003, and the related Consent and Letter of Transmittal, each as modified by American Seafoods' press release, dated September 24, 2003, which collectively set forth the complete terms of the offer and solicitation. Copies of the Offer to Purchase and Consent Solicitation Statement and related documents may be obtained from MacKenzie Partners, Inc. at 212-929-5500. Additional information concerning the terms of the offer and the solicitation may be obtained by contacting CSFB at 1-800-820-1653. Copies of the registration statement may be obtained from the Securities and Exchange Commission's Internet site. The site's Internet address is www.sec.gov.

American Seafoods, headquartered in Seattle, Washington, is the largest harvester and at-sea processor of pollock and hake and the largest processor of catfish in the United States.

This press release is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell securities. The offer and solicitation are only made pursuant to the Offer to Purchase and Consent Solicitation Statement, dated September 15, 2003, and the related Consent and Letter of Transmittal (as each may be amended from time to time).