Chernobyl Shelter Project Achieves Important Milestone; EKOR radiation-resistant foam successfully applied on fuel-containing mass beneath failed reactor.

Business Editors/Hi-Tech Writers

WASHINGTON--(BUSINESS WIRE)--March 28, 2000

EUROTECH Ltd. (OTC BB:EURO), Washington, DC and The Shelter Project, Chernobyl, Ukraine, jointly announced the successful completion of the initial application of Eurotech's EKOR radiation-resistant material at Chernobyl.

The application was performed under the Eurotech - Shelter joint agreement to move EKOR from the R&D stage into the real world applications. Under this agreement, the Shelter has selected the most critical pile of the molten radioactive fuel from the failed reactor to be covered with EKOR to prevent dusting and leaching into the environment.

Chernobyl Unit 4 was the site of the world's worst nuclear accident in 1986.

Mr. V.I. Kupny, Director of the Chernobyl Shelter, in his report to Eurotech, said: "We have successfully applied Eurotech's EKOR on the pile of fuel-containing mass located at the bubble pool under the reactor. The results have demonstrated the successful synthesis of EKOR in the real-world conditions of the Shelter. EKOR has reliably covered the irregular shapes of the lava-like surface of the Fuel Containing Mass and has polymerized, creating a monolithic coating."

According to Mr. Kupny, the effort to isolate the fuel-containing mass for future extraction is extremely critical. He said that an application of this type was not previously possible due to the lack of any other material such as EKOR, which is capable of preserving its encapsulation properties for hundreds of years under conditions of radiation and corrosion.

"Eurotech is proud to have supplied both the EKOR material and critical technology for this important undertaking," said Don Hahnfeldt, Eurotech's President. "We're confident that EKOR will provide the first practical solution for safe, long-term containment of radioactive waste and debris, not just at Chernobyl, but at nuclear facilities around the world. Eurotech will continue working in the joint project on applications of EKOR for uses identified by The Shelter for fuel and radioactive debris extraction, enclosure waterproofing and fireproofing."

EKOR was developed by scientists at the EuroAsian Physical Society in Moscow, who provided technical assistance throughout this project. EKOR is the only material that has been accepted by the Shelter Project for encapsulation of the highly radioactive fuel-containing mass and suppression of the extremely hazardous radioactive dust at Chernobyl.

Extensive testing at the Kurchatov Research Institute in Moscow indicates that EKOR will effectively encapsulate the fuel-containing masses for hundreds of years. This provides a key element in the effort to provide a solution to disposal of the large quantities of radioactive debris at Chernobyl.

A number of nuclear agencies, including the U.S. Department of Energy and governmental agencies in Germany and Japan have expressed interest in EKOR and are closely following the progress of the initial applications at Chernobyl. The DOE has requested a demonstration of EKOR at its Hanford facility in Washington State following the completion of the work at Chernobyl.

Due to significant interest and additional questions about this project and EKOR, EUROTECH, Ltd. has scheduled a telephone conference for Wednesday, March 29th, 1 PM Eastern Standard Time, with public listening lines available at 888/868-9083. A digital replay will be available immediately following the phone conference at 888/394-8168.

A photo of the initial EKOR application will be available soon on Eurotech's website.

EKOR radiation-resistant material has been tested to 10 gigarads without degradation of its physical properties. Unlike most other materials commonly used for nuclear containment, EKOR does not itself become radioactive and fail over time. EKOR will adhere to virtually any surface and is both fire-resistant and waterproof.

As a result, EKOR represents a critical element in Eurotech's advanced nuclear waste management systems. Eurotech has acquired worldwide commercialization rights for EKOR, which was developed by scientists at the EuroAsian Physical Society in Moscow, Russia.

EUROTECH, Ltd. is a diversified Washington, DC-based technology holding company formed to capitalize on business opportunities through the acquisition and commercialization of advanced technologies. Eurotech has traded on the Over the Counter Bulletin Board under the symbol EURO since 1995.

On March 22, 2000, Eurotech filed an application with the Nasdaq National Market for Public Securities seeking a listing with the exchange. Additional information about EUROTECH, Ltd. and its technologies may be viewed on the Company website http://www.eurotechltd.com.

Certain information and statement included in this release constitute "forward-looking statements" within the meaning of the Federal Privates 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, performance, or achievements expressed or implied in such forward-looking statements.