FOR IMMEDIATE RELEASE

March 29, 2010

Aleut Enterprises Response to Adak Seafood Lease Dispute

Anchorage, Alaska - Aleut Enterprise, LLC, a wholly owned subsidiary of The Aleut Corporation,
is involved in a lease dispute with Adak Seafood, LLC. Thomas Mack, President of the Aleut
Corporation, explained that “this matter involves protecting the assets and interests of all 3,600
Shareholders and we take it very seriously.”

Though the Adak Seafood’s lease expired December 31, 2009, the company refuses to vacate
the premises owned by Aleut Enterprise or enter into a new lease for 2010. Aleut Enterprise
understands that the region is in the midst of the fishing season and is sympathetic to Adak
Seafood’s business operations. As an attempt to alleviate this issue Aleut has offered both a
short term and a long term lease to Adak. Adak, however, has opted to not negotiate with Aleut
at this time.

In addition, Adak Seafood is claiming that Aleut Enterprise must continue to supply operating
fuel. Aleut Enterprise disagrees, and contends that it should not have to provide fuel to
someone illegally staying on its premises. The bankruptcy court ruled in favor of Aleut
Enterprise, and denied Adak Seafood’s motion to require Aleut to sell them fuel in January
2010.

The lease dispute, which began in the U.S. Bankruptcy Court when Adak Fisheries filed for
bankruptcy in September 2009, is now before the U.S. District Court of Alaska. The company,
formally Adak Fisheries sold all of its assets to the current company, Adak Seafood.
Throughout the lease dispute management of Adak has remained consistent as the majority
owner, Kjetil Solberg, owned and operated Adak Fisheries during the years prior to filing for
bankruptcy and is still the majority owner of Adak Seafood.

Developments on the lease dispute continue at present. According to Rudy Tsukada, President
of Aleut Enterprise: “Aleut Enterprise is attempting to resolve this matter expeditiously as we are
being denied the full use and value of our property. We will continue to pursue our legal position
and we are confident that once all the facts are disclosed, the court will rule in our favor.”

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Aleut Enterprise, LLC, (AE) is a wholly owned subsidiary of the Aleut Corporation, an Alaska
regional Native corporation formed according to the Alaska Native Claims Settlement Act. AE
was established in 1997 as the Aleut Enterprise Corporation and converted to a Limited Liability
Corporation in 2004.

At Adak Island, Aleut Enterprises provides fuel, facilities and services for commercial fishing,
marine cargo, commercial aviation, government agencies, scientific research, private tourism
and other industry operating in the North Pacific and Western Alaska.