AquaCell and Connecticut Water Service Sign Distribution Agreement for Purific Water Coolers.Business Editors RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k  'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif.--(BUSINESS WIRE)--June 11, 2002 AquaCell Technologies Inc. (AMEX AMEX See: American Stock Exchange :AQA AQA Assessment and Qualifications Alliance (UK) AQA Assessment and Qualifications Alliance AQA Any Question Answered AQA American Quality Assessors (India Pvt Ltd) ) and Connecticut Water Service Inc. (Nasdaq:CTWS CTWS Confederated Tribes of Warm Springs ) today announced that they have signed a distribution agreement whereby Connecticut Water Service's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. Water Utility Services Inc. will offer AquaCell's patented self-filling Purific(R) Water Cooler to its customers and contact base. "A recent survey of our customers showed that 40% are not drinking tap water, favoring bottled water or a point-of-use filtration system instead," said Marshall T. Chiaraluce, chairman, president and chief executive officer of Connecticut Water Service. "While we know that we provide a reliable supply of high quality drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. that meets all state and federal drinking water standards, we recognize that many people are sensitive to the taste of chlorine that is used to keep tap water safe. We see AquaCell's Purific Water Cooler as the perfect solution for those customers who prefer chlorine-free drinking water without compromising quality." Chiaraluce continued: "Our company has a history of success in developing specific unregulated niche business built around our core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
"We believe that the Purific coolers' extensive filtration system, coupled with the permanently attached five-gallon bottle allows us to offer a product far superior to any other point-of-use water cooler system." James C. Witham, chairman and chief executive officer of AquaCell said: "We are thrilled to be partnering with Connecticut Water Service as we recognize that they are a highly innovative company. Both we, and our marketing partner Corbett Water Technologies, view this as an excellent opportunity to obtain significant distribution. "We recognize that our arrangement with Connecticut Water Service gives expanded endorsement of both AquaCell and the Purific cooler." Witham continued: "This agreement opens up a whole new market for us and supports our belief that progressive public water companies recognize that some of their customers are interested in a convenient, chlorine-free product that does not compromise on tap water safety. "We believe that Connecticut Water will be highly successful in its distribution of our Purific Water Cooler, since they have a reputation for offering quality products and service to its customers." Initially, Connecticut Water will be offering only the flagship Purific model 500UV, and initial sales will focus on commercial customers, that are looking to lower their costs for bottled water while eliminating the hassle of changing heavy, clumsy bottles and the security concerns associated with bottled water delivery. Under the terms of the agreement, AquaCell will provide Connecticut Water with specific training for the installation and service of the Purific Water Cooler, and Corbett Water Technologies will provide sales training. Information about the Purific Water Cooler may be obtained at www.aquacell.com. About Connecticut Water Service Connecticut Water Service, founded in 1956, is a non-operating holding company. More than 290,000 people throughout 40 Connecticut and Massachusetts towns depend on the company's public water subsidiaries for their tap water. The company, through its unregulated subsidiaries offers water and wastewater services to municipalities, businesses, industries, other water utilities, and private well owners. Introducing AquaCell AquaCell, based in Rancho Cucamonga, manufactures products for water filtration and purification through its two operating subsidiaries, Global Water-Aquacell Inc. and Water Science Technologies Inc. Its products address various water treatment applications for industrial, commercial, institutional and residential applications. These applications range from providing purified drinking water -- through its point-of-use patented self-filling Purific(R) Water Cooler and production of water bottling plant Noun 1. bottling plant - a plant where beverages are put into bottles with caps industrial plant, plant, works - buildings for carrying on industrial labor; "they built a large plant to manufacture automobiles" equipment -- to processing water for ultra-pure purposes, such as micro-chip and pharmaceutical manufacturing. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Certain statements in this news release constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: the company's ability to continue relationships with customers, the company's ability to offer its products at competitive prices, the company's ability to maintain its listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , and the company's ability to use the most current technology for its products. |
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