New Chairman appointed for The Scottish Salmon Company

The board of directors of The Scottish Salmon Company Ltd announces the resignation of Jim Mullins as chairman.　 Robert M Brown III will assume the chairmanship of the company.

Mr Mullins was elected chairman in March 2009 as part of the successful recapitalization of Lighthouse Caledonia ASA.　 Under Mr Mullins' leadership, Lighthouse Caledonia embarked on an extensive reorganization that resulted in the remarkable turnaround of the business of the company.　 The company reported strong profits throughout Mr Mullins' tenure and paid out its first dividend to shareholders.

Mr Mullins stated, "2010 was an exciting year for The Scottish Salmon Company.　 The company began the process of repositioning itself as a customer-driven producer of premium quality Scottish salmon.　 We opened the Marybank processing facility in Stornoway on the Western Isles, creating more than 70 jobs locally.　 The company is also well positioned for future growth, having announced the acquisition of West Minch Salmon Ltd. As the company is on sound financial footing, I am now able to focus on other projects that will involve substantial time commitments. I wish the employees, directors and shareholders continued success."

The board of directors wishes to express its appreciation for Mr Mullins' significant efforts and positive results he helped achieve throughout his tenure.

Mr Brown stated, "Jim Mullins has a successful history of building businesses and he has again demonstrated his leadership as chairman of The Scottish Salmon Company.　 It is both an honour for me to succeed him and a challenge to lead the company onward."

Mr Brown was elected to the board of directors of The Scottish Salmon Company in October 2010. Mr Brown has over 35 years experience in corporate business and finance, having previously served as Managing Director of Lehman Brothers from 1978 to 1994.　 Mr Brown also served as Managing Director and Head of Corporate Finance of Creditanstalt International Advisors in New York. For the past 10 years he has managed investment funds, both as manager and as a director of public companies. Mr Brown also currently serves as a Trustee of Carnegie Mellon University, his alma mater.

For Information:

 www.scottishsalmon.com

Su Cox

The Scottish Salmon Company is the leading independent producer of Scottish salmon, providing superior salmon to both the local and international markets. The Scottish based and operated company is a fully-integrated seafood company, built around the provenance, taste, freshness, sustainability and health benefits of its salmon product.

The Company is engaged in all stages of the value chain from smolt production to harvesting, processing and sales. Operating from over 40 sites on the Hebrides and West Coast of Scotland, the company currently employs over 350 staff. The Scottish Salmon Company currently produces about 24,000 tonnes of Scottish salmon annually, accounting for about 20% of Scottish production.