Global Water Technologies Engages Raymond James for Acquisition Investment Banking Services.

Business Editors

GOLDEN, Colo.--(BUSINESS WIRE)--Feb. 7, 2002

Global Water Technologies, Inc. (OTCBB:GWTR), (GWT) a full-service cooling water treatment company utilizing advanced technologies and engineered solutions to provide process cooling water to power plants, process industries, HVAC and municipalities, worldwide, today announced that it had engaged Raymond James and Associates, Inc. to provide analysis, valuation, structuring and financing of GWT's prospective acquisitions.

Commenting on the engagement, George Kast, Chairman and CEO stated, "We are very pleased to be working with Raymond James. Their global experience in mergers and acquisitions, coupled with their ability to finance these transactions will enable us to attract synergistic companies that will help facilitate our external growth strategy. The growing global demands for water purification, reuse and preservation, has created a tremendous opportunity for our water platform. Combining our proprietary technologies and innovative solutions with other synergistic companies will accelerate our establishment as a global market leader in the industrial water treatment arena. The successful implementation of the Company's external growth strategy, coupled with the growth of our existing businesses, should result in significant long-term shareholder value."

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, 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, Calpine (NYSE:CPN), Duke Fluor Daniel, General Electric (NYSE:GE), Kerr McGee, Mitsubishi, Mobil, Vivendi Environment (NYSE:VE), The Shaw Group (NYSE:SGR), Texaco and YORK International.

Forward Looking Statement:

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 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.