High Liner Foods announces expiration of retraction rights for its non-voting
equity shares

LUNENBURG, NS, May 4 /CNW/ - High Liner Foods Incorporated (TSX: HLF; HLF.A), a leading North American value-added frozen seafood company, today announced that the temporary retraction rights for its non-voting equity shares expired as of April 30, 2010. Total shares bought back by the Company as a result of the temporary retraction rights, amounted to 3,185,030, or 63% of the 5,061,850 non-voting equity shares previously outstanding.

Approved at the Company's annual general and special meeting of shareholders on April 6, 2010, the retraction right was created, in part, to provide additional liquidity for the holders of the non-voting equity shares. As previously arranged, the Company funded the retractions from its working capital loan facilities.

About High Liner Foods Incorporated

High Liner Foods Incorporated is a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner(R), Fisher Boy(R), Mirabel(R) and Sea Cuisine(TM) labels, and are available in most grocery and club stores. The Company also sells its High Liner(R), FPI(R) and Mirabel(R) food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company, trading under the symbols HLF and HLF.A on the Toronto Stock Exchange.

For further information about the Company, please visit our website at www.highlinerfoods.com or send an e-mail to [email protected].

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For further information: Kelly Nelson, Vice President Corporate Services, Chief Financial Officer & Secretary, High Liner Foods Incorporated, Tel: [phone], [email protected]; Trevor Heisler, Investor Relations, The Equicom Group Inc., Tel: [phone] ext.270, [email protected]