Aquasearch, Inc. Engages Madison & Wall Worldwide, Inc.; National Investor Awareness Campaign To Be Launched Immediately.

Business Editors & Health/Medical Writers

BIOWIRE2K

KAILUA-KONA, Hawaii--(BW HealthWire)--Sept. 19, 2001

Aquasearch, Inc. (OTCBB:AQSE), a global leader in photobioreactor technology, today announced that it has engaged Madison & Wall Worldwide, Inc., a full service, financial public relations company, to launch a national investor awareness campaign designed to attract the attention of individual investors, retail stockbrokers, institutional investors, research analysts and the media.

Madison & Wall will work closely with key Aquasearch executives to develop and implement communications strategies and programs specifically designed to foster and enhance investor interest and appreciation for the Company's current and future growth platform.

Jennifer Pelczarski, Vice President-Sales of Madison & Wall Worldwide-West, stated, "From the moment we were first introduced to Aquasearch, we were intrigued by the Company's commitment to introduce new, clinically-tested, nutraceutical substances with significant health-promoting effects and benefits. We believe that Aquasearch is uniquely positioned to leverage its core technology and expertise in microbial plant production to profoundly impact the drug development industry - particularly in the area of infectious diseases."

"Effective communication to all audiences becomes increasingly important as our Company continues to grow and develop," stated Dr. Mark Huntley, Chairman and Chief Executive Officer of Aquasearch. Our partnership with Madison & Wall gives us access to their extensive network of retail stockbrokers, institutions, analysts, media professionals and strategic industry resources - all of whom we are confident will take a much closer look at Aquasearch and our exciting potential."

About Madison & Wall Worldwide, Inc.

Madison & Wall is a leading, nationally recognized, financial public relations firm that specializes in increasing mass market awareness of its clients among individual investors, retail stockbrokers, institutional investors, analysts, the financial media and other investment professionals. Through its direct marketing initiatives - the Inside Wall Street-CD and Inside Wall Street direct mail programs, and its web site, http://www.insidewallstreet.com, Madison and Wall concentrates on pro-actively spotlighting undervalued, undiscovered or turnaround situations operating in emerging, high-growth industries. Since it's founding in 1992, Madison & Wall has represented hundreds of public companies headquartered on six continents.

About Aquasearch, Inc.

Aquasearch is a biopharmaceutical company dedicated to the discovery, development, and commercialization of prescription drugs and over-the-counter nutraceuticals from microalgae. Aquasearch is a world leader in commercial photobioreactor technology, which enables large-scale cGMP production of single cell plants. Although plants have proven to be the most successful source of new drugs, more than 30,000 species of single cell plants remain unexploited in health and medicine.

Aquasearch's first nutraceutical, The AstaFactorO , is a natural dietary supplement rich in astaxanthin, a potent antioxidant with anti-inflammatory properties. The AstaFactorO , now at all Longs Drugs and Wal-Mart stores in Hawaii, is expected to be available at many more retail outlets on the U.S. mainland later this year. For more information, please visit the Company's Web site at www.aquasearch.com.

"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 (the"Exchange Act), including statements regarding the potential market for The AstaFactorO , continued revenues, the outcome of Aquasearch's agreement with Advantage Webco Dodge, as well as statements that include the word "believe" or 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 Aquasearch to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Aquasearch's Annual Report on Form 10-KSB for the fiscal year ended October 31, 2000 and any subsequent reports filed with the Securities and Exchange Commission under the Exchange Act. This press release speaks as of the date first set forth above and Aquasearch assumes no responsibility to update the information included herein for events occurring after the date hereof.