BUSINESS NEWS: Neptune Reports Preliminary 2010 Year End Sales Results and Acasti Nomination

Neptune expects nutraceutical business revenue for the fourth quarter ended February 28, 2010 to be in the range of $4,000,000 to $4,500,000, compared to $3,772,000 for the third quarter ended February 28, 2009, representing an increase of 6% to 19%.

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Neptune Reports Preliminary 2010 Year End Sales Results and Acasti Nomination

Neptune Technologies & Bioressources Inc. (“Neptune”) (NASDAQ.NEPT - TSX.V.NTB) provides guidance on its expected sales results for the fourth quarter and fiscal year ended February 28, 2010, and Acasti Pharma Inc. (“Acasti”) announces the addition of a new member to the Acasti management team.

Neptune Preliminary Sales Result

Neptune expects nutraceutical business revenue for the fourth quarter ended February 28, 2010 to be in the range of $4,000,000 to $4,500,000, compared to $3,772,000 for the third quarter ended February 28, 2009, representing an increase of 6% to 19%.

Nutraceutical business revenue for the fiscal year ended February 28, 2010 is expected to be in the range of $12,000,000 to $12,500,000, compared to $11,648,000 for the corresponding twelve-month period ended February 28, 2009, representing an increase of 3% to 7%.

“We are very pleased to announce that we expect to be reporting higher sales figures this year compared to the corresponding previous year, even though we have been affected for more than four months by a plant shut down required to increase capacity ” stated André Godin, Vice-President, Administration and Finance of Neptune. “The plant is currently running at full capacity and we are looking forward to announcing our plan for further expansion in the following months” he added.

Acasti Management Team

Dr. Tina Sampalis, President of Acasti, is proud to announce that Mr. Pierre Lemieux joined Acasti on April 12, as the Chief Operating Officer (“COO”). He will be involved in the operation of Acasti and in the different pharmaceutical programs Acasti is pursuing. Mr Lemieux holds a post-doctoral degree in Oncology from the Health Science Center, University of Texas, USA, and a PhD in biochemistry from Laval University, Canada, jointly with the University of Nottingham, England.

“In addition to his pharmaceutical development experience, Mr. Lemieux’s extensive experience and knowledge of Medical Food (“MF”) and Over the Counter (“OTC”) development and markets, which he acquired at his previous employer BiolActis as the Chief Executive Officer, will be a great asset to Acasti. His broad understanding of the development of MF and OTC products from incenption to the commercialization will be a tremendous value added to our team.” stated Dr. Tina Sampalis.

Mr. Lemieux has been granted 50,000 incentive stock options of Neptune, exercisable at $2.50 and expiring in 3 years, 250,000 incentive rights on warrants of Acasti, with an aggregate exercise price of $0.50, expiring on October 8, 2013 and 200,000 incentive rights on warrants of Neurobiopharm, with an aggregate exercise price of $0.25 expiring on October 15, 2013. The options and warrants granted to Mr. Lemieux will vest gradually over time and are and may be subject to approval by the board of directors, regulatory authorities and shareholders.

SOURCE: Neptune Press Release