Hollund Industrial Marine to Restablish Old and Open a New With Possible Multi Billion Dollar Project In Brazil

Two Brazilian Dams Provide Reentry and Expansion in Areas Rich With Underwater Forestry -- Opportunity Presents Potential Technology Licensing

BLAINE, WA--(Marketwire -06/19/12)- Hollund Industrial Marine, Inc. ( HIMR ) ("Hollund" or the "Company") announced today that the South American Project Development Team has targeted the Tucurui and Balbina dam reservoirs in Brazil for planned future development. Combined project estimates conservatively reflect close to $2 Billion -- partly giving cause to pursue exclusive licensing of underwater logging technology.

"The team chosen to develop our South America concessions is very familiar with the region and maintains substantially valuable relationships in Brazil," stated Sheldon Romain, Vice President of Hollund Industrial Marine. "In fact, amongst this very qualified group of specialists are a few of the same individuals who launched the pilot project in Brazil -- proving the concept of using machine technologies to harvest a vast amount of invaluable submerged timber resources."

The primary area targeted, the Tucurui Dam, is precisely where members of Hollund's South American Development Team initially developed and proved the process of unmanned underwater forest mining. This was a pivotal moment for an entire industry. Once relying heavily on the dangerous labor of underwater divers, members of this team demonstrated that underwater logging was achievable without the risk of human lives. They also showed that this type of logging could be achieved much faster and with greater profitability. Using a prototype of the patented technology Hollund plans to offer through an exclusive license agreement the company is currently pursuing, members of this team successfully harvested timber submerged as deep as 60 feet in the Tucurui Dam reservoirs.