Global Water Technologies Announces a Record $20 Million in New Contracts During 3rd Quarter.

Business Editors

GOLDEN, Colo.--(BUSINESS WIRE)--Oct. 20, 2000

Global Water Technologies, Inc. (OTCBB:GWTRD), a company utilizing advanced technologies and engineered solutions to provide process cooling water to industry and municipalities, worldwide, today announced that it had received an additional $20 million in contracts during the 3rd Quarter.

Commenting on these new contracts, George Kast, President and CEO, stated: "We are very pleased to have been selected by many different companies to supply our proprietary water cooling technology and water treatment services. New contracts for the first three quarters exceeded $45 million, and we are optimistic that the remainder of the year will continue to be strong. The majority of these new contracts will be delivered over the next 12 months, providing for significant current backlog. We continue to show progress in our two new subsidiaries, Applied Water Technologies, Inc. and Global Water Services, Inc. We believe the investment we have made in these business opportunities, which has had an impact on current earnings, will add significant revenue and profits for the future. These markets are substantially larger than our traditional cooling water business and together will combine to create additional opportunities over the next few quarters, as well as in the future."

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.