March 3, 1999 - Financial communications firm, Magnum Financial Group, engaged by Global Water Technologies, Inc.
Global Water Technologies, Inc. (OTCBB: GWTR), a full-service water management company utilizing advanced technologies and engineered solutions to provide process cooling water to industry and municipalities worldwide, announced today its engagement of Los Angeles-based financial communications specialist, Magnum Financial Group, to broaden the Company䴜s audience within the investment community and financial media so as to generate interest and participation in the Company䴜s publicly traded securities.

In a concerted effort by management and Magnum Financial Group, the Company plans to broaden its prospective investment audience by stepping up communications with certain segments of the national media, trade publications, and financial media to develop followers for its water technology and management story. To increase exposure and leverage the vast reach of the Internet, management is researching and approaching Web sites that deal with the water industry, the environment, and water treatment technology where the Company can be profiled.

The primary focus of Magnum Financial Group is taking the Company䴜s investment opportunity directly to the retail brokerage and institutional communities with the objective of increasing investor awareness. Simultaneously, Magnum will be communicating with research analysts that track the water management, water treatment, and environmental technology sectors with the goal of encouraging their initiation of published research coverage on Global Water Technologies which will provide an independent analysis of the Company䴜s current and future market value. The analyst䴜s research report is reviewed by brokers, institutional fund managers, and individual investors.

Magnum䴜s communication programs are very financially-oriented and designed to get the client䴜s investment story to the specific audiences suited for the client䴜s story. News releases, fact sheets, corporate profiles, and presentations produced by the firm are structured to appeal to financial professionals at various sophistication levels. The firm䴜s approach is structured, disciplined and proven.

Commenting on the engagement, George A. Kast, President and CEO of the Company, remarked "Since early 1997 we began aligning ourselves with strategic partners and acquiring technologies to position the Company to meet changing industry needs. We have built a company that has demonstrated its ability to compete successfully in the global marketplace. To capitalize on this success and enable us to grow more rapidly, we became a publicly traded company in November 1997."

"Confident of our marketing abilities within the industry, we will now also focus on the issue of marketing our public corporation; and we have developed a multi-tiered plan to get our corporate story and investment opportunity out to the public. In engaging Magnum Financial, we have signaled the launch of this campaign. Magnum as a specialist firm was hired to bring our stock price and resulting market capitalization in line with our current and forecasted financial performance as well as assisting in structuring the Company for listing on the NASDAQ Small Cap Market" Kast continued.

Magnum Financial principal, Steven B. Johnson, offered, "We are very pleased to have been selected to represent Global Water Technologies and are certainly privileged to have the opportunity to work with management over the next year. As we too are selective in whom we represent, we feel Global Water Technologies is a truly superb organization in an industry that will soon command the attention of the entire world. Water is a precious resource-both to consumers and industry. The Company has wisely positioned itself to capitalize on three key segments of the water industry which are now becoming increasingly important and alarming to government and industry alike-cooling water for industry䴜s engines and massive processing equipment, environmentally-safe water purification and reclamation, and residential water service."

"Aside from being well positioned, the Company has very sound fundamentals and impressive financial performance. Based on historical financial results, estimated 1998 results, and management䴜s internal forecasts for 1999, we are of the opinion that the Company䴜s stock is significantly undervalued at today䴜s price levels." added Johnson. "We are certain that a more fair market value that better represents the past performance and future potential of the Company can be attained in the near term."

ABOUT MAGNUM FINANCIAL GROUP

Los Angeles-based Magnum Financial Group LLC, is a financial communications, corporate development, and financial advisory firm representing public companies with smaller market capitalizations as well as those companies planning to become public. Magnum is well recognized for its knowledge of the capital markets, communications strategies, and substantial contacts in the investment community.

ABOUT GLOBAL WATER TECHNOLOGIES

Global Water Technologies, headquartered in Golden, Colorado, is a full-service water management company utilizing advanced technologies and engineered solutions to provide process water to industry and municipalities worldwide. Psychrometric Systems, Inc. (PSI), a wholly owned subsidiary, is an engineering and construction management firm which designs and builds industrial process cooling water systems. Applied Water Technologies, Inc. (AWT), another subsidiary, is a manufacturer of proprietary non-chemical water treatment systems for environmentally sound water purification and reclamation.

 

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January 19, 1999 - GWT/PSI Announce Personnel Changes
Global Water Technologies, Inc. (OTCBB-GWTR) announced today that Gary Brown has been named as the new president of Psychrometric Systems, Inc. (PSI). PSI is the main operating subsidiary of Global Water Technologies, Inc. (GWTR). Mr. Brown will be replacing George Kast and has been with the company since 1996 as PSI's Chief Operating Officer and General Counsel. Mr. Brown has a Juris Doctorate (J.D.) from Washburn University and prior to coming to PSI was the General Counsel for Fischbach Corporation, an AIG subsidiary specializing in mechanical contracting. Mr. Brown will also serve on the Board of Directors for GWTR and PSI and will continue to act as General Counsel for PSI. George Kast will remain CEO of PSI. \r
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George Kast, President and CEO of GWTR, stated "This is a very positive move for GWTR and PSI. Gary is very knowledgeable about PSI's business and its customers and will continue to take the company in a positive direction. As a result of Gary Brown assuming the presidency, I can now focus on enhancing the awareness of GWTR, and the implementation of our proprietary environmentally friendly water treatment service program adding value to all of our shareholders." \r
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GWTR also announced the resignation of Bob Tomz as CFO and Board Member. Martin Hout, Chief Planning Officer for GWTR and Controller for PSI, has been appointed Chief Financial Officer and Treasurer for GWTR; Martin Hout has been with the company since 1995. He is a Certified Public Accountant and earned an MBA in international finance from the University of Denver. Mr. Hout's former employers include Adolph Coors Co.; ACX Technologies and public accounting.\r

 

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January 18, 1999 - Global Water Technologies announces record bookings of $53 million for 1998 including $10 million in contracts to help reduce thermal pollution of public waterways
Global Water Technologies, Inc. (OTCBB-GWTR) announced today that its wholly owned subsidiary Psychrometric Systems, Inc. (PSI) achieved record bookings in 1998 of over $53 million, an increase of 120% from 1997. \r
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George Kast, President and CEO of GWTR, stated "Our 1998 bookings of $53 million exceeded management's forecast and we are very pleased with these results. Demand for our products and services continues to be strong and we are optimistic for continued growth in 1999 for all of our business segments."\r
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Included in the $53 million were contracts with a midwestern utility company totaling $10 million to help reduce thermal pollution through the installation of PSI's cooling tower technology. PSI equipment and technology will "pre-cool" water utilized at two power plants prior to its discharge into the local waterways. This should help preserve the aquatic habitat by decreasing thermal pollution which can impact the ecological balance of a waterway. The equipment will be installed in the first and second quarters of 1999 in order to have the cooling system operational by the end of June when river temperatures are highest.\r
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GWTR and PSI are working with several other companies around the world to reduce thermal pollution, water use and chemical pollution of public waterways. \r

 

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These news releases contain 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‰¥ús filings with the Securities and Exchange Commission and are incorporated herein.