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2014-05-08

Aqua Bio Technology: Update on Restorsea complaint

Aqua Bio Technology ASA (Oslo Axess: ABT) today provided an update on the
complaint filed with a New York court by ABT's customer and exclusivity
partner Restorsea.

A pre-motion conference with the parties' legal counsel was held on 7 May 2014
for a preview of ABT's request for dismissal of Restorsea's complaint. On the
initiative of the judge, ABT has agreed to a court-supervised mediation, in
an attempt to solve the issue without full court proceedings. The date for
the mediation has not yet been scheduled.

The court-supervised mediation is without court fees for the parties, is
facilitated by a magistral judge and puts the legal process on hold until
this attempt at finding a solution has been explored. Each of the parties can
terminate the mediation at any time, if they so wish.

As previously noted, Aqua Bio Technology's position is that Restorsea's
complaint is substantively and procedurally deficient.

ABT will update the market in accordance with its obligations as a listed
company.

For further information, please call Arvid Lindberg, CEO, telephone +47 9824
5410

Aqua Bio Technology ASA (ABT) develops, produces and markets patented
ingredients and technologies to the international cosmetic and skin care
industry. ABT's ingredients Aquabeautine XL(TM), Dermaclarine(TM) and Beauty
Propelline(TM) are marine solutions with distinctly individual and unique
properties, derived from the hatching fluid of salmon. ABT is listed on the
Oslo Stock Exchange's Axess market.

ABT PR Restorsea update 080514
http://hugin.info/138686/R/1783740/610965.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqua Bio Technology via Globenewswire

HUG#1783740

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