PRESS RELEASE Aquaculture Incorporating Bio-Farm Production Offers a Potential Unique GroFeed Application

GroFeed products are
offered from refrigerator-sized systems to 53-foot tractor-trailer sized
units.3 percent while
aquaculture production increased by 30 percent.

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Henry Naskali, President & CEO, GroFeed Inc.that based on
our discussions with Agassiz Aqua Farms, we believe that our commercial
scale GroFeed units offer an environmentally sustainable, value added
opportunity for aquaculture farming.

Agassiz is a Manitoba Corporation dedicated to the procurement, production,
processing and marketing of freshwater aquaculture products and is
specifically focusing on land based Arctic Char farming operations and
specialized Aquatic Feed developments in the Midwest.
Currently , SOFIA reports, three percent of marine stocks are
underexploited, while 21 percent are moderately exploited and could support
modest increases in fishing and in harvests.

netting aquatic

About Agassiz Aqua Farms Inc.
According to FAO, there has been a consistent downward trend since the
1950s in the proportion of marine fish stocks with potential for expanded
production, coupled with an increase in the proportion classified as
overexploited or depleted.

aquatic economically

" Further, Mr.. Naskali, "GroFeed working jointly with Outlook Resources
offers a tremendous opportunity for introducing renewable technologies and
sustainable farming practices.6 billion people with at least 20 percent of their
average per capita animal protein intake."
He added that signs of progress in some countries show that improvement is
possible.

anadromous pollutants

the
advantages of using GroFeed units in conjunction with an aquaculture
operation presents the potential to include the utilization of nutrients
from the recirculation of the aquafarm water thereby reducing water use
while at the same time maintaining water temperature potentially reducing
water heating costs.enclosed
GroFeed hydroponic feed production units support sustainable agricultural
development and help to conserve our natural resources. Most of that new demand
will have to be met by aquaculture, which could account for 39 percent of all
fish production in 2015 .

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a comprehensive evaluation of the barley sprouts and
blades in potential feed markets. and Outlook Resources Inc. GroFeed markets its products as a means of feed supplementation for
the animal feed industry.
Regions with fish stocks in greatest need of recovery include the
Northeast Atlantic , the Mediterranean Sea and the Black Sea, followed by the
Northwest Atlantic, the Southeast Atlantic , the Southeast Pacific and the
Southern Ocean.

Despite challenges, a new high in production -- with aquaculture playing
key role
Despite these challenges, global fish production reached a new high of 133
million tons in 2002, largely as a result of expanded production on fish
farms , SOFIA notes.8 to 29.

resolve aquaculture

Both companies are very excited at the
prospect of introducing both in North America and Europe, the future of
farming and aquaculture.
Accordingly, there may be differences between the actual results and the
predicted results, and actual results may be materially higher or lower
than those indicated in the forward-looking information contained herein.
"In light of current trends, the continued improvement of management of
wild fish stocks is essential," cautioned Mr."
Starting today, representatives of nearly 50 countries are gathering at
FAO's Rome headquarters for the 26th meeting of the FAO Committee on Fisheries
(COFI), where they will discuss the issues raised in SOFIA.

fisheries electrofishing

Naskali added, ". have
committed to undertaking a feasibility study to explore the use of GroFeed
units at Agassiz Aqua Farms as a first practical step towards the
introduction of GroFeed systems into Bio-Economy Park projects managed by
Outlook Resources. (OTC: GFDI)

GroFeed manufactures enclosed hydroponic systems capable of producing 50
kilograms (110 lbs) to 1000 kilograms (2200 lbs) of fresh green barley feed
(fodder) per day throughout the year at minimal cost. The
business development plan of Outlook Resources is targeted towards
optimizing opportunities associated with the Kyoto Protocol, which will
continue to drive ahead a number of green energy opportunities.
Fifty-two percent are fully exploited, which means they are being fished
at their maximum biological productivity.
All 188 FAO Member states have committed to use the Code to strengthen
their own fishing policies and improve international cooperation on fishing
management.

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Strategies for rebuilding stocks identified in today's report include
significantly decreasing or temporarily stopping fishing in overexploited
fisheries, reducing degradation of underwater environments and actively
rehabilitating damaged habitats.6 million tons in 1998 to
100.

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Based on preliminary discussions with GroFeed Inc.

Forward-Looking Statements:

The information contained herein regarding risks and uncertainties, which
may differ materially from those set forth in these statements , in addition
to the economic, competitive, governmental, technological and other
factors, constitutes a "forward-looking statement" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, the Private Securities
Litigation Reform Act of 1995.

The remaining twenty-four percent are over exploited (16%), depleted (7%),
or recovering from depletion (1%) and need rebuilding.
The share of world fisheries production attributable to aquaculture
increased from 25.9 percent between 1998 and 2002.

fishes electrofishing

While the company believes that the
assumptions underlying such forward-looking information are reasonable, any
of the assumptions could prove inaccurate and, therefore, there can be no
assurance that the forward-looking information will prove to be accurate. Increased fishing of these stocks
would not produce any additional sustainable harvests and would reduce
reproduction to dangerously low levels.

Restoring stocks a high-order challenge
"Stock depletion has implications for food security and economic
development, reduces social welfare in countries around the world , and
undermines the well-being of underwater ecosystems," said Ichiro Nomura, FAO
Assistant Director General for Fisheries.

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Outlook Resources Inc." Based on
information supplied by the company, GroFeed units support:

-- conserving land -- a commercial scale GroFeed unit can displace up to
25 acres of farmland;
-- lessening water demand -- reduced use and loss from evaporation;
-- offering an environmentally non-degrading process that leaves no
residual agricultural chemicals in feed and does not contaminate soil;
-- providing technically appropriate and straightforward operation with
low maintenance;
-- offering an economically viable process -- cost competitive with
traditional feeds grown in fields;
-- offering a socially acceptable "organic" animal feed that further
enhances food chain safety. This means that major increases in
catches cannot be expected from them, and serious biological and economic
drawbacks are likely if fishing capacity for these stocks is further
increased. "Aquaculture may help
reduce pressure on capture fisheries by reducing demand for wild fish and
lowering prices, but that's only part of the solution.

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. GroFeed Inc.

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
"While recovery of depleted stocks urgent, it is just as important to
avoid depleting still-healthy stocks in the first place by matching fishing
efforts to what these stocks are capable of supporting," he added. Nomura also noted that 2005 marks the 10th anniversary of the adoption
of the FAO Code of Conduct for Responsible Fisheries, a non-binding instrument
that provides a blueprint for responsible fishing practices.

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, said "." Mr. Some of these stocks
are already under strict management schemes.
"Over the last ten years we have seen countries and regional fisheries
bodies around the world draw on the Code to improve fisheries management," he
said.

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Mr. Bottomley added that Agassiz Aqua Farms
plans to develop ".

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is a Bay City, Michigan, and
Toronto-based company with manufacturing facilities near London, Ontario.

Depleted Fish Stocks Require Recovery Efforts

Ultimately, the only real tangible sign of success will
be the clear reversal in the resource trends and related improvements in the
situation of fishers.

aquatic hydrographic

, Outlook Resources
believes that commercial GroFeed enclosed hydroponic feed units can support
the development of sustainable aquaculture (farming of fish and other
aquatic organisms in inland and coastal areas).." GroFeed Inc.
Considering the limited progress achieved in the last decade in this
respect, restoring depleted stocks to healthy biomass levels by 2015, a goal
set at the 2002 World Summit on Sustainable Development, represents "a high-
order" challenge, according to SOFIA.

aquatic lifeco

John Bottomley, President & CEO, Outlook Resources, stated that ". Since 2000, capture production has
remained generally stable .

The science of fisheries and their management.

electrofishing sturgeon

..
Seven of the top ten marine fish species -- which together account for
about 30 percent of all capture fisheries production -- are fully exploited or
overexploited, today's report said.
Human consumption of fish increased from 93.7 in 2002 , providing 2.

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..

Demand for fish will continue to rise
Total world consumption of fish (food and feed) could increase to 179
million tons by 2015, up 47 million tons from 2002.

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(OTC: GFDI) hydroponic feed production units at their
aquaculture farm located in Gunton, Manitoba, Canada .

According to Mr.

About GroFeed Inc. (TSX-V: OLR)

Outlook is focused on the rapidly expanding "Bio-Economy" markets emerging
in North America, such as fuel ethanol and the fast growing Nutraceutical,
functional food and specialty livestock feed ingredients sectors. Most of the growth in capture
fisheries occurred between 1998 and 1999. Nomura.

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's
(TSX-V: OLR) wholly owned Agassiz Aqua Farms is exploring incorporating
GroFeed Inc. New Report on World Fisheries and Aquaculture Presented
to FAO Committee on Fisheries Today

ROME, Rebuilding depleted wild fish stocks is a
"challenging necessity" says the newest edition of FAO's biennial report, The
State of World Fisheries and Aquaculture (SOFIA), released today.

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. P.

About Outlook Resources Inc.

A vision of sustainable fisheries
Mr. "Much progress has been made, but more still needs to be done during
the next ten years.

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"

Mr.

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During the same
period, production from capture fisheries grew by 6.
But growth in aquaculture will not make improvements in current fishing
practices and management any less important.