Global Water Technologies Announces Record $65 Million in Contracts & Substantial Power Industry Backlog.

Business Editors

GOLDEN, Colo.--(BUSINESS WIRE)--Jan. 3, 2001

Global Water Technologies, Inc. (OTCBB:GWTRD), a company utilizing advanced technologies and engineered solutions to provide process cooling water to power producers and industry worldwide, today announced that it had received a record $65 million of new contracts in fiscal year 2000, including substantial contracts in the power industry which resulted in record backlog going into 2001.

Commenting on the results, George Kast, President and CEO, stated: "We are pleased that our innovative designs and marketing approaches have resulted in another record year for new contracts. The power industry in particular, relies heavily on cooling water to produce power and is realizing the value of our technology and services. We can substantially improve the efficiency, megawatt output and profitability of a power plant which is typically cooling water limited. We have proven that our technologies and proprietary software can help power producers identify these limitations in their plants, and we can provide the equipment and services needed to recover these lost megawatts. Our programs come at a critical time when power costs are at an all time high not only for the power producers, but also for the consumer. Our record backlog going into 2001, coupled with the continued expansion in the power industry, will provide for future growth and profitability."

About Global Water Technologies:

Global Water Technologies, Inc.'s global strategy is to invest in and develop business opportunities in the world's largest industry -- WATER. In support of this strategy, GWT has three synergistic subsidiaries that represent this strategy and business. The first wholly owned subsidiary, Psychrometric Systems, Inc. (PSI), provides process cooling water primarily through the design, engineering and project management of water cooling towers to industrial and manufacturing clients worldwide. Applied Water Technologies, Inc. (AWT), another subsidiary of GWT, provides our customers with proprietary environmentally-sound water treatment systems and services which are designed to meet the growing need for cooling water treatment and re-use worldwide. Global Water Services, Inc. (GWS), another wholly owned subsidiary of GWT, provides total cooling water solutions and service programs to our customer base, including cooling water systems and water treatment services. Global Water Technologies, Inc. trades on the over-the-counter bulletin board under the symbol "GWTRD."

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive and other factors, including, among other things, the size and timing of customer orders, changes in laws, new or increased competition, delays in new products, production problems, changes in market demand, market acceptance of new products, seasonal in product purchases, and changes in foreign exchange rates. These factors, and other factors, which could materially affect the Company and its operations are included in the Company's filings with the Securities and Exchange Commission and are incorporated herein.