Global Water Technologies Chairman and CEO Interviewed by CEOcast.com.

Business Editors

GOLDEN, Colo.--(BUSINESS WIRE)--May 23, 2002

Global Water Technologies, Inc. (GWT), a full-service cooling water company utilizing advanced technologies and engineered solutions to provide process cooling water to power plants, process industry and municipalities worldwide, today announced that George A. Kast, Chairman and CEO, has been featured in an interview by CEOcast.com.

In the interview, Kast discussed recent industry trends, market potential and growth opportunities in the markets that the Company has cultivated. The audio interview can be accessed free of charge at http://www.ceocast.com, then click on the link under heading "Interviews: Public Companies."

Commenting on the interview, Kast stated, "We are pleased to be featured by CEOcast. It is an exciting time for GWT's water technologies and solutions. This forum gives us the opportunity to present our Company to a new and broad-based investment community."

In the interview, Kast discussed the Company's recently released first-quarter financial results, which highlighted a 49% growth in revenue and the Company's efforts to capitalize on its competitive advantages. The interview included information about GWT's subsidiaries and current EPA proposed legislation regarding water pollution credits that could positively affect the environment and GWT's growth prospects.

CEOcast is the premier source of original and syndicated streaming broadcast interviews of Chief Executive Officers at public and private news-making companies. Organized by industry, its analysts average over 15 years experience covering and evaluating Wall Street's leading companies.

CEOcast's programming is distributed to millions of on-line investors at over 700 financial web sites, as well as to more than 20,000 portfolio managers, buy-side analysts and traders at more than 3,300 North American institutions. Content is also disseminated to over 7,000 investment research professionals representing over 425 institutions. All content is copyrighted to protect our licensing partners.

ABOUT GLOBAL WATER TECHNOLOGIES:

Global Water Technologies, Inc. (OTCBB:GWTR) is a water technology and services company with major installations in the areas of power, process and HVAC. The company utilizes its proprietary technologies to enhance a facility's production by providing cold, high-quality water to increase operating efficiencies and reduce water use and operating costs. GWTR's client base includes, but is not limited to, the following companies: Archer Daniels Midland, British Petroleum Amoco, Duke Fluor Daniel, General Electric (NYSE:GE), Kerr McGee, Mitsubishi, Mobil, Shaw Group (NYSE:SGR), Texaco (NYSE:TX), and YORK International (NYSE:YRK).

FORWARD-LOOKING STATEMENT:

This news release discusses certain matters that may be considered "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, including statements regarding the intent, belief or current expectations of Global Water Technologies, Inc. ("The Company"), and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. 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 product purchases, banking, bonding 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. All information set forth in this press release is as of today's date, and the Company undertakes no duty to update this information.