SeaLife Corporation Private Placement Restricted Shares Used at Market to Pay Officers and Outside Consultants.

CULVER CITY, Calif. -- SeaLife Corporation (Pink Sheets:SLIF) announced that on November 22, as part of its ongoing plan to fund its operations for the present through the private placement of its common stock, that it placed a total of 6,099,903 "restricted" shares of its common stock at an agreed value of $748,043, or an average of $0.12 per share, in exchange for services, cash advances for corporate expenses and cash investment in the Company.

1,945,158 restricted shares were issued to current officers, one former officer, and the Company's Chief Scientist, in payment of $235,829 in salary and consulting fees due and cash advances and loans made to the company. The shares issued to the former Officer were part of a settlement in full of both claims for unpaid salary and claims for termination benefits, thus avoiding costly litigation.

2,000,000 restricted shares were issued to David Voyticky, for consulting services rendered to the Company (through September of 2006). Mr. Voyticky and management have been in ongoing good faith negotiations to fix the amount and form of compensation for the sizable consulting services provided to the Company, which negotiations resulted in agreement in late September to pay him in restricted stock. Mr. Voyticky has been of key assistance in strategic planning and restructuring of the Company and its management team, as well as in negotiated settlements with creditors and negotiation of new marketing consultants for the Company.

750,000 restricted shares were issued to the Law Officers of Rosen & Associates, representing a $90,000 payment to fund a full and aggressive defense of a pre-existing SEC action against the Company and its Chief Executive Officer. 1,170,995 restricted shares, valued at $161,519, were issued to various other outside consultants for services rendered, including Research & Development services associated with development of a new line of top side marine coatings for the Company's product line. 233,750 restricted shares were issued for cash.

Almost all the shares were issued at the closing price of the stock on November 21, 2006, of $0.12 per share, without any discount to market because of their "restricted" private placement status.

Management said it was pleased that the share recipients were willing to accept restricted private placement shares at full closing market value, despite the resale restrictions applicable to private placement stock, and noted that these transactions served to transfer liabilities on the Company's Balance Sheet to Corporate equity, making the Company financially more sound.

SeaLife Corporation is a development stage public company currently traded on the Over the Counter Pink Sheets under the symbol (SLIF). Its SeaLife Marine Products Division has developed, and has now initiated manufacturing and distribution of a proprietary line of environmentally friendly antifoul and topside marine coatings and paints. Its Proterra Technologies Division, has developed, and is now testing a proprietary line of environmentally friendly soil enhancers for large scale agricultural and row crop applications.

For further information about this release or a copy of the report please contact SeaLife Corp. 310-338-9757 or SOMERVILLE ASSOCIATES MARKETING COMMUNICATIONS, 12121 Wilshire Blvd., Ste. 205, Los Angeles, CA 90025; Ph. 310-207-5663; Fax [phone]; Email: [e-mail].

Please visit our website www.sealifemarine.com.

This document may contain certain forward-looking statements with respect to product marketing and report filings. Statements in this document that are not historical facts are hereby identified as "forward-looking statements." The words "estimate," "project," "intend," "expect," "believe," "plan," and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. These forward-looking statements are necessarily estimates, reflecting the best judgment of senior management that rely on a number of assumptions concerning future events, many of which are outside of our control, and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in this document. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.