Cyanotech Selects New Audit Firm

KAILUA KONA, Hawaii—Cyanotech Corp. (NASDAQ:CYAN) selected Grant Thornton LLP as the company’s independent registered public accounting firm, subject to its customary client acceptance procedures.

On April 3, 2008, Cyanotech’s audit committee decided to undertake a thorough assessment of audit firms that serve similar companies and have a significant presence in Hawaii. After conducting an extensive evaluation process, the audit committee selected Grant Thornton based on the firm’s audit approach, reputation with similar companies, and local market presence.

The selection of Grant Thornton was not the result of any disagreements between Cyanotech and its current independent registered public accounting firm, KPMG LLP, on any matters of accounting practices, financial statement disclosure, or accounting scope or procedures.

“Cyanotech Corporation has had a very long, professional audit relationship with KPMG, and we want to thank the firm for its service,” said William R. Maris, Cyanotech’s CFO. “We look forward to working with Grant Thornton over the next few months as they transition into their new role with us.”