Edgewater Foods Comments on World Fisheries Decline

GAITHERSBURG, MD -- (MARKET WIRE) -- November 21, 2006 -- Edgewater Foods International, Inc. (OTCBB: EDWT) announced today the Company's desire to highlight the results of a paper published in the journal Science on November 3, 2006 (http://www.sciencemag.org/cgi/content/abstract/314/5800/787) concluding that "overfishing, pollution and other environmental factors are wiping out important species around the globe, hampering the ocean's ability to produce seafood, filter nutrients and resist the spread of disease." As highlighted by recent major media outlets like the Washington Post, whose article noted that, "An international group of ecologists and economists warned that the world will run out of seafood by 2048 if steep declines in marine species continue at current rates, based on a four-year study of catch data and the effects of fisheries collapses. We really see the end of the line now," said lead author Boris Worm, a marine biologist at Canada's Dalhousie University. "It's within our lifetime. Our children will see a world without seafood if we don't change things." (http://www.washingtonpost.com/wp-yn/content/article/2006/11/02/AR2006110200913_2.html).

Edgewater Foods International, Inc. has been a leader in marine hatchery technology for the past 14 years and believes the panel's observations about pending global seafood shortages further enhance the importance and need for development of alternative seafood farming methods like Edgewater's marine hatchery technology.

Edgewater Foods has developed a series of proprietary hatchery techniques for a number of marine species, most notably hybridizing the Pacific scallop. In addition, Edgewater was the first company to produce commercial quantities of sablefish juveniles. Both of these breakthroughs required many years of research and considerable investment. In the case of sablefish, which is a cold-water fish that spawns at depths of 800-2400 ft, a variety of techniques were required to successfully mature, spawn, incubate and rear the larvae.

"Our company hopes to contribute a number of possible solutions which may help to address the projected global seafood shortage," said Robert Saunders, Chairman and Chief Executive Officer. Our ongoing success -- particularly with the Pacific Scallop -- gives us hope that we can do just that."

The scallop species farmed by Island Scallops has a proven record of being disease resistant, with a 95% survival rate during the grow-out phase. The company has the necessary farming infrastructure to significantly increase its scallop production to 25 million scallops annually by the fall of 2007.

Edgewater Foods is the predominant producer of live "in the shell" scallop products in North America. There are no known direct competitors in the scallop farming business in British Columbia, and ISL is the only hatchery producing the Pacific scallop. The Company sells scallop seed to a number of small independent scallop growers who sell their products into the same marketplace; however, production from these growers totals less than 500,000 scallops per year. Five British Columbia joint venture farmers are currently farming scallops and receive scallop seed, technology, and support in an arrangement with ISL.

ISL currently distributes the scallops through specialty wholesalers with particular expertise in selling to restaurants, and has developed a market for whole live scallops that exceeds 5,000 lbs. per week into Vancouver. As distribution is expanded, the Company will continue to focus on specialty wholesalers with strong ties to major restaurants.

ISL, a Vancouver Island aquaculture company, was established in 1989 and for over 15 years has successfully operated a scallop farming and marine hatchery business. ISL's scallop farms are situated along both the east and west coasts of Vancouver Island. These facilities represent the largest private marine research hatchery and the first fully integrated shellfish producer in Canada.

ISL is dedicated to the farming, processing and marketing of high quality, high value marine species: scallops and sablefish (or blackcod). Farmed scallops are relatively new to North America and ISL is the only producer of both live-farmed Pacific scallops and live sablefish. ISL has developed proprietary hatchery technology for the hybridization of Pacific scallops and production of juvenile blackcod. These new husbandry techniques significantly increase growth yields, while strengthening the selected strain's ability to resist disease. In the case of blackcod, there were a number of technical difficulties associated with spawning that ISL has solved with its technological innovations. As such, there are no existing competitors that produce and/or harvest both scallops and blackcod. Edgewater seeks to become a leader in the highly profitable niche seafood industry.

Through ISL, Edgewater is an aquaculture and marine hatchery that provides consumers with healthy, environmentally friendly alternatives to the current market. The unique hatchery technologies held by Edgewater give it the advantage of being a "Green" environmentally friendly business. For additional information on Edgewater Foods International Inc., please visit http://www.edgewaterfoods.com or call (800) 793-0087.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Edgewater, except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Edgewater's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.

Contact Information: Contact: Tom Bostic (800) 793 0087 Aurelius Consulting Group, Inc. (800) 644-6297 PR Global Concept 49 (0)2166 - 144940