Global Water Technologies Issues Corrective Press Release.

Business Editors

GOLDEN, Colo.--(BUSINESS WIRE)--Nov. 13, 2001

Global Water Technologies, Inc. (OTCBB:GWTR) today announced corrections and clarifications to two press releases issued by GWTR on June 26, 2001, and September 19, 2001, and to certain information concerning the Company presented on www.ingenuity.com, www.joeystockmarket.com, and, potentially, other websites not maintained or monitored by the Company.

These corrections are intended to clarify and correct the statements made by the Company in its press releases and in information that was presented on the listed websites as follows:

-- On June 26, 2001, GWTR announced that it had been awarded $30 million in new
power contracts. It has been brought to GWTR's attention that the language of
the release could have been read to imply that, as of June 26, 2001, the
Company's backlog was $66 million. The Company did not compute a backlog amount
as of June 26, 2001; however, as of June 30, 2001, the Company's backlog was
$59.2 million, which figure was announced in the Company's press release dated
August 16, 2001.

-- On September 19, 2001, GWTR announced that it had pledged to New York's
Mayor Rudolph Giuliani, the New York Port Authority and Silverstein Properties
to supply the required cooling tower equipment for the proposed replacement of
the World Trade Center (WTC) Twin Towers. The Company's use of the word
"pledge" in the press release was not intended to imply that GWTR has any
current relationship with these parties. As of September 19, 2001, the decision
had not yet been made whether to rebuild the WTC or devote the site to another
use. However, in the event the decision is made to rebuild the WTC, GWTR has
offered to donate the cooling tower equipment for the WTC Towers. The letter to
Silverstein Properties was not delivered until November 13, 2001.

-- Certain information concerning GWTR that was presented on the websites
mentioned above and possibly other websites, which may have linked to these
sites, is inaccurate. Specifically:

-- The statement that GWTR is "on track to hit $75 million in revenues this
year (2001) and expect(s) to surpass $150 million in revenues next year (in
2002)" has no basis in fact. Further, GWTR has not publicly announced any
projections of its revenues for 2001 and 2002.

-- GWTR did not have a backlog of $66 million as of June 26, 2001. Its backlog
as of June 30, 2001, as stated in its 10-Q for the second quarter, was $59.2
million.

-- The Company did not, during the summer of 2001, and does not now,
"financially qualify for a NASDAQ listing," and GWTR has no plans to submit its
application to NASDAQ for listing. As announced in its press release dated
August 9, 2001, the Company has applied for listing on the American Stock
Exchange, which listing application is still pending.

-- The reference to there being 38,000 power plants is incorrect. The Company
believes there to be 3,800 power plants in the United States.

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 industries. The company utilizes its proprietary technologies to enhance a facilities 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, Shaw Group (NYSE:SGR), Texaco (NYSE:TX), 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.