EUROTECH Continues Progress to Commercialize EKOR.

Business Editors

FAIRFAX, Va.--(BUSINESS WIRE)--Dec. 22, 2000

EUROTECH Ltd. (AMEX:EUO) announced today that Florida International University's Hemispheric Center for Environmental Technology, (HCET) has completed the initial application system design, engineering diagrams, and technical documents for the penetrating coating form of EKOR.

HCET partnered with Eurotech to complete three basic product forms for EKOR including penetrating coating, encapsulant formulation and dense foam to be completed before the end of the first quarter of 2001.

Jeff Stephen, Eurotech's Chief Operating Office stated, "This marks another important milestone in the delivery of EKOR technology. In many applications, EKOR would be simply poured to create a barrier or brushed onto a surface to form a leak proof patch. However, we now have the input from HCET to move forward with assembly of application equipment to spray EKOR over larger surfaces."

As part of its contract with Eurotech, HCET is also developing the training materials required for field application and regulatory requirements.

HCET works closely with the U.S. Department of Energy through grant funding for research and development on environmental technology.

HCET reports that besides important radiation, fire and chemical resistance attributes of EKOR, the capability of formulating EKOR in different product forms should make EKOR an attractive encapsulant for a broad spectrum of product applications in nuclear waste containment, transportation, storage and disposal.

In related news, Eurotech is shipping test coupons to facilities that meet Department of Energy standards for acceptance testing for the next EKOR product form. The tests include both basic material properties such as elasticity and adhesion, and performance testing such as chemical resistance, fire resistance and leaching.

All acceptance testing results to date for the penetrating foam are positive.

Eurotech fully expects the test results to continue to confirm the years of successful development and testing achieved by Eurotech's partner the Euro Asian Physical Society, EAPS. The last of the penetrating foam acceptance tests will be complete in the first week of January and a full report on all the penetrating foam acceptance tests will be delivered to Eurotech in mid-January.

Eurotech continues its progress to bring the revolutionary geopolymer composite EKOR to market. Jeff Stephen went on to say, "Eurotech's business development team is working on projects that cover a broad spectrum of application types that will provide waste encapsulation solutions for a cross section of DOE locations. Eurotech expects these efforts to generate contracts in the first quarter of 2001."

EUROTECH Ltd. (AMEX:EUO) works with scientists and research institutes in Russia, Israel and other countries to develop and commercialize innovative technologies that have widespread or critical application. For more information, visit www.eurotechltd.com on the Internet.

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.