High Liner Foods Incorporated is a Canadian publicly traded company in the business of processing and marketing superior quality seafood, frozen pasta, and other food products in North America under the High Liner®, Fisher Boy®, Gina Italian Village® and Floresta® brands.

With operations concentrated in North America, High Liner Foods’ vision is to achieve above average returns for shareholders, relative to comparable food companies, by becoming a leader in our target markets through superior customer satisfaction. We also strive to provide challenging careers and quality employment for the committed, well-trained employees on whom we depend.

We pursue our vision while adhering to four underlying values: quality, integrity, involvement, and innovation. Throughout all aspects of its operations – from ocean harvesting to new product development – High Liner Foods ensures the highest quality of products and customer service.

We believe integrity means building relationships of trust with all our stakeholders by clearly communicating expectations and results. Integrity also underpins our commitment to the sustainability of our fish resources.

We encourage involvement in business improvements across our organization, and we will generate growth through product and service innovations.

Six years have passed since the TSE Special Committee on Corporate Governance issued its report, commonly known as the Dey Committee Report.

In each of the last few years, the Board of Directors of High Liner Foods Incorporated has made substantial progress toward full compliance with the TSE Guidelines, improving both governance disclosure and the Company’s underlying practices.

High Liner’s directors recognize that their independence and authority, together with their expectation that management will provide them with all the information and resources they need to fulfill their duties, are the underpinnings of a competitive but fair marketplace.

The directors also know that corporate governance standards are always evolving. High Liner Foods will continue to enhance corporate governance, as long as new initiatives have the potential to create value for our stakeholders.

Please see the Information Circular of the Company, prepared for the Annual General Meeting of Shareholders to be held on April 28, 2000, in Halifax, Nova Scotia. The Circular is dated March 20, 2000, and is available on the Company’s website at http://www.highlinerfoods.com/99mic/index.html.