Eurotech, Ltd. Updates Shareholders on Homeland Defense and Environmental Technologies.

Business Editors

FAIRFAX, Va.--(BUSINESS WIRE)--Nov. 4, 2002

Eurotech, Ltd. (AMEX:EUO), www.eurotechltd.com, today provided Company updates on operations and technologies.

Eurotech's Acoustic Core(TM) plastic explosive detection technology has met its October 2002 development internally devised milestone for scientific supporting data and product development requirements.

Eurotech's encryption technology demonstration programs have expanded to include secure firewall and secure credit card systems to complement its highly secure communications encryption technology. The Company has included descriptive information on its website for this new class of encryption for review by cryptographers and cryptanalysts.

The Company's hybrid non-isocyanate polyurethane (HNIPU) has achieved performance milestones for its acrylic exterior HNIPU by completing over 2000 hours of accelerated weathering and ultraviolet exposure testing.

HNIPU foam is being tested for some unique applications where non-isocyanate foam is highly desirable and the Company has entered into a development agreement with the world's leading preinsulated piping manufacturer as previously reported.

Eurotech's radiation-resistant EKOR(TM) continues to be marketed directly by Eurotech's representatives as a solution for pressing nuclear waste remediation problems.

The Company's Automated Portal Threat Inspection System (APTIS) prototype had an October internally devised objective to collect and analyze acoustic data from humans and humans with concealed targets of interest.

APTIS has demonstrated this by interrogating human subjects with transmitted bursts of acoustic energy and analyzing the reflected signals for the presence of (concealed) targets cataloged in the APTIS library.

By analyzing signal parameters such as acoustic impedance, APTIS proprietary software was able to locate and identify plastic and ceramic weapons and simulated plastic explosives. The Company is working on a development and testing program for incorporating actual plastic explosives at authorized government facilities.

This is required to enable the Company to perform the final sequence of APTIS development.

Eurotech's continuing demonstrations of EKOR(TM)'s capabilities at various Department of Energy nuclear sites performing numerous micro- and macro-encapsulation tasks, leads the Company to believe that EKOR(TM) is well suited as an economical solution to accelerate cleanup and tank closure projects.

The wet and dry low activity wastes may be mixed directly with EKOR(TM) in a form ready for disposal, which allows expedited and economical handling of various waste streams. For example, Eurotech believes that EKOR(TM)'s versatile performance characteristics may make it capable of treating oil-soaked uranium chips as discovered in burial sites at Hanford.

Also, Eurotech has filed a compliance plan to the American Stock Exchange ("Amex") as required by Amex's letter of August 26, 2002, to address listing requirements for the Exchange as specified in the letter, which is filed in the Company's Security and Exchange Commission Form 8-K of August 30, 2002. The Amex is expected to provide a response by mid-November.

In the meantime, the Company has continued to reduce its burn rate to less than 50% of its rate one year ago. Senior management and the Board have demonstrated their confidence and commitment to the Company in further lowering expenses by deferring 30% to 100% of their salaries and fees.

The Board appointed independent Director Mr. Carey Naddell as a Vice Chairman and new Chairman of the Audit and Compensation Committees

About Eurotech, Ltd.

Eurotech is a corporate asset manager seeking to acquire, integrate and optimize a diversified portfolio of manufacturing and service companies in various markets. Our mission is to build value in our emerging technologies and in the companies we acquire and own, providing each with the resources it needs to realize its strategic business potential.

Our emerging technology business segment develops and markets chemical and electronic technologies designed for use in Homeland and Environmental Security.

Our portfolio of technologically advanced products includes (i) proprietary materials created to specifically solve the serious problems of how nuclear and other hazardous wastes are cost effectively contained, (ii) advanced performance materials for use in industrial products such as coatings and paints, (iii) automatic detection of explosives and illicit materials, and (iv) cryptographic systems for secure communications, all of which can be used in Homeland and Environmental Security.

For additional information about Eurotech and its technologies please visit the Company website: www.eurotechltd.com.

"Safe Harbor Statement" Under the Private Securities Litigation Reform Act of 1995 Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Eurotech, Ltd. officials during presentations about Eurotech, Ltd., are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act").

Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions.

In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act.

Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights.

Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Eurotech, its technology, economic and market factors and the industries in which Eurotech, Ltd. does business, among other things.

These statements are not guarantees of future performance and Eurotech, Ltd. has no specific intention to update these statements. More detailed information about those factors is contained in Eurotech Ltd.'s filings with the Securities and Exchange Commission.