March 6, 2009

IPHC NOTIFIES INDUSTRY OF HALIBUT SALES IN 2009 AND SEEKS BUYERS INTERESTED IN IPHC RESEARCH FISH

The International Pacific Halibut Commission (IPHC) will be conducting research operations off Oregon, Washington, British Columbia, and Alaska during 2009 and will be selling halibut caught during the operations to offset costs associated with conducting the survey. This news release is intended to notify the industry of the IPHC plan to sell fish and seeks offers for fish sales arrangements from interested buyers.

We anticipate that all landings will be between early June and early September, 2009. Approximately 15 vessels may be involved in the survey, and average trip size for halibut is expected to range from 8,000 to 45,000 pounds. Lesser amounts of rockfish and Pacific cod may also be landed. All of the fish will be well iced, and we will attempt to keep all of the fish less than six days old when selling into markets where the fish are marketed fresh. Older fish may be landed when selling into frozen markets. Suggestions from industry on how the IPHC can maximize fish quality or improve fish sales are welcome.

In 2009, sales will be awarded based on our objectives of achieving a fair market price and distributing sales among buyers and ports. Sale agreements will be based on prices at the time of the sale. The Commission will not enter into any consignment or profit-sharing arrangements. The Commission plans to contact interested halibut buyers prior to each landing. Preferences will be given to buyers with a history of successfully marketing halibut and following ethical business practices. In awarding sales, the Commission will consider: (1) price; (2) the number of years buyers have been buying and marketing halibut; (3) how fish are graded at the dock including the determination of No. 2 halibut and chalky fish; and (4) promptness in settlements following deliveries. Obtaining a fair market price will be a primary consideration in awarding fish sales, but the Commission may award sales to buyers with slightly lower prices in consideration of the factors listed above. The Commission will also attempt to distribute sales among as many qualified buyers as possible, subject to fair market value.

For Washington and Oregon it is possible that our fish from all small offloads will go to a single buyer.

All buyers (including those with past IPHC sales history) interested in purchasing IPHC research fish in 2009 should send a letter, fax, or e-mail to Eric Soderlund at the Commission before April 25, 2009. The letter should provide information regarding the ports in which you intend to actively purchase, and both general contact information for your company as well as port specific contacts. This will ensure you are kept informed of purchasing opportunities throughout our field season. For further information, please contact Eric Soderlund at (206) 634-1838 ext. 230.

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