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Global Water Technologies Subsidiary Receives York International Contract to Supply Water Treatment System.

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GOLDEN, Colo.--(BUSINESS WIRE)--July 10, 2001

Global Water Technologies, Inc. (OTCBB:GWTR), a leading equipment and services supplier of cooling water and treatment services to power plants and process industries worldwide, today announced its wholly owned subsidiary, Applied Water Technologies, Inc. (AWT), has signed an agreement with YORK International Corporation (NYSE:YRK) to provide its proprietary AquaPhysics(TM) cooling water treatment technology and services through York for a Hilton Hotel (NYSE:HLT).

YORK International is the largest independent supplier of heating, ventilating, air conditioning and refrigeration (HVAC&R) equipment in the United States and a leading competitor in the industry internationally. The company's products are sold in over 120 countries and York has approximately 24,400 employees worldwide. In addition, YORK International provides outsourcing of service and maintenance contracts for many facilities where HVAC&R equipment is utilized.

Commenting on the contract, George Kast, President and CEO, stated: "We are very pleased to work with and support York on this project. York's reputation as a leader and innovator in the industry, combined with its ongoing service and maintenance programs, provides AWT an excellent platform for future sales of the AquaPhysics(TM) cooling water treatment system. Additionally, the AWT program incorporates a technology currently being used by York to enhance chiller performance and energy efficiency through the reduction and prevention of scale build-up. There are over 500,000 HVAC cooling water systems in operation today that require treatment. AWT's AquaPhysics(TM) system is providing this market with an environmentally sound means of cooling water treatment, while reducing water and energy usage."

Ned Hebert, District Service Manager for YORK International, stated: "The AWT AquaPhysics(TM) program provides a tremendous value to the service we offer to our customers. The online monitoring feature of this program is of significant value in maximizing the cooling water system performance."

About Global Water Technologies

Global Water Technologies, Inc. is a company with major interests in the areas of power, energy and water. The company utilizes its proprietary technologies to enhance power production by providing cold, clean water to increase operating efficiencies, reduce water use and operating costs. Through this process, GWTR is able to increase their clients' power output by up to 10%, depending upon age, design and efficiency of the plant. GWTR's client base includes, but is not limited to, the following companies: General Electric (NYSE:GE), Enron subsidiary companies (NYSE:ENE), Raytheon Company (NYSE:RTN), Archer Daniels Midland (NYSE:ADM), British Petroleum Amoco, Mitsubishi, Mobil, Texaco (NYSE:TX), Duke Fluor Daniel, Kerr McGee (NYSE:KMD) and Calpine (NYSE:CPN), YORK International (NYSE:YRK) and Hilton Hotels (NYSE:HLT).

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.
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Publication:Business Wire
Date:Jul 10, 2001
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