GLV Announces that 80.5% of the Voting Shares of Christ Water Technology AG Have Been Tendered Into its Voluntary Takeover Bid

Montreal, November 17 (ots/PRNewswire) -

- The Transaction Will Close by the end of November

Management of GLV Inc. ("GLV" or the "Company"; ticker symbols
GLV.A, GLV.B / TSX) is pleased to announce that as of 4:00 p.m.
(Vienna time) today, 80.5% of the voting shares of Christ Water
Technology AG ("CWT") were tendered by CWT shareholders into the
voluntary takeover bid (the "Offer") launched by Eimco Water
Technologies GmbH, an indirect subsidiary of GLV on October 13,
2009, thereby exceeding the minimum acceptance threshold of 75% of
the voting shares required pursuant to the Offer. Consequently the
transaction will progress as planned, and is scheduled to close on or
about November 27. GLV's purchase of the shares tendered as of
November 17 represents a cash consideration of $85 M (at the current
Euro/Canadian dollar exchange rate). CWT shareholders who have not
yet tendered their shares have another three months to do so for a
cash consideration of EUR3.35 per CWT share, pursuant to the same
terms as set forth in the Offer.

GLV aims to acquire 100% of CWT's shares at a price of EUR3.35
per CWT share for an additional cash consideration of approximately
$20 M (at the current exchange rate). Upon closing, GLV will also
assume an estimated net debt of $48 M (net of the estimated cash
position of CWT on the closing date at the current exchange rate).

The process of combining CWT with GLV's Water Treatment Group
(Eimco Water Technologies, or "EWT") will commence early in December
2009. GLV's management estimates that restructuring costs of between
$20 M and $30 M will be incurred in the following 24-month period to
combine the two organizations and bring CWT's profitability and
operating efficiency in line with GLV's current internal working
guidelines. Based on CWT's current order backlog and market
potential, as well as the current exchange rates between the various
currencies used, management estimates that the process of combining
CWT with EWT will provide GLV with additional revenues of
approximately $275 M during the first full fiscal year following the
transaction, being the 12-month period ending March 31, 2011.
Management expects the transaction to have a positive impact on GLV's
earnings per share as of fiscal 2011.

The EWT/CWT combination will result in a more complete, stronger
value-added technological portfolio, a better balanced positioning
between the industrial and municipal segments, increased presence in
certain high-growth markets - such as thermal power generation,
seawater desalination, petrochemicals, microelectronics and solar
power industries - and a stronger international footprint, notably in
Asia and Europe.

Pursuant to the provisions of the Austrian Takeover Act,
shareholders who objected to the amendment of the Offer, i.e. the
reduction of the acceptance threshold from 90% to 75%, have until the
expiry of the acceptance deadline (November 17, 4:00 p.m. Vienna
time) to withdraw any shares tendered into the Offer. While GLV is
not aware of any shareholders who have so notified the Bidder, any
withdrawals sent by post and postmarked on or before November 17 will
be deemed valid.

About CWT

Founded in 1939, CWT specializes in the design and fabrication of
systems based on advanced technologies used for water purification
and ultrapurification, wastewater treatment, recycling of process
water, production of drinking water and desalination of seawater.
Excluding its pharma and life science division which was sold to a
third party at the end of September 2009, CWT currently employs
approximately 900 people worldwide. The company's primary end markets
are the microelectronics industry, desalination plants, power
generation, the petrochemicals industry, the food and beverage
processing industry and the municipal segment. During its last fiscal
year ended December 31, 2008, CWT, which is present in some 30
countries, recorded 58% of its revenues in Europe, 30% in Asia and
12% in the rest of the world.

GLV - Press Release/p.2

About GLV Inc.

GLV is a leading global provider of technological solutions used
in water treatment, recycling and purification, as well as in pulp
and paper production. The Water Treatment Group (also known worldwide
as "Eimco Water Technologies") specializes in the design and
international marketing of solutions and high-performance, economical
and eco-friendly processes for the treatment and recycling of
municipal and industrial wastewater and water used in various
industrial processes. It also offers water intake screening solutions
for power stations, refineries and desalination plants. With its
extensive technological portfolio, the group is positioned to provide
comprehensive solutions for the filtration, clarification, treatment
and purification of water that will either be returned into the
environment, or be re-used in various industrial processes or for
domestic purposes. The Pulp and Paper Group specializes in the design
and global marketing of equipment and systems used in various stages
of pulp and paper production, notably chemical pulping, pulp
preparation and sheet formation and finishing. This group ranks among
the foremost players in its industry and is a recognized leader in
rebuilding, upgrading and optimization services for existing
equipment, as well as the sale of spare parts. It also stands apart
for the superior performance of several of its key products and
technologies, notably in terms of energy savings. GLV is present in
some 30 countries and, as of the date hereof, has approximately 1,500
employees.

Notice Regarding Forward-Looking Statements

Certain statements included in this press release may constitute,
within the meaning of applicable securities legislation,
forward-looking statements relating to the Company's future growth
trends, operating results and performance. Forward-looking statements
concern analyses and other information based on forecasted future
results and the estimate of amounts that cannot yet be determined.
These may be observations concerning, among others, strategies,
expectations, objectives, projections, estimates, predictions,
planned activities or future actions. Forward-looking statements are
recognized by the use of terms such as "forecast", "project" "could",
"plan", "aim", "estimate" and other similar terms, possibly used in
the future or conditional, notably in regard to certain assumptions.

GLV's management would like to point out that forward-looking
statements involve a number of risks and uncertainties such that the
Company's actual and future results could differ materially from the
conclusions, assumptions or projections reflected in these
forward-looking statements. Factors of uncertainty and risk that
might result in such material differences include trends in the
demand for the Company's products and services and cost of its raw
materials, fluctuations in the value of various currencies,
tightening of credit markets, pressures exerted on prices by the
competition and general changes in economic conditions. The Company
cautions readers that the foregoing list of risk factors is not
exhaustive. Although the Company believes these assumptions to be
reasonable and appropriate based on the information in its
possession, there can be no assurance as to the materialization of
the results, performance or achievements as expressed in or
underlying the forward-looking statements. In addition, unless
otherwise indicated, the forward-looking statements included in this
press release were set forth at the date hereof, and unless required
to do so pursuant to applicable securities legislation, management
assumes no obligation as to the updating or revision of the
forward-looking statements as a result of new information, future
events or other changes.

Further information about the risk factors to which is exposed
GLV is provided in the "Risk Management" section of the Management's
Report for the fiscal year ended March 31, 2009, available on the
websites of SEDAR (http://www.sedar.com) and the Company
(http://www.glv.com).

For information:
Marc Barbeau, CA
Executive Vice-President and Chief Financial Officer
Tel: +1-(514)-284-2224
Email: courrier@glv.com

http://www.glv.com

ots Originaltext: GLV Inc.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For information: Marc Barbeau, CA, Executive Vice-President and Chief
Financial Officer, Tel: +1-(514)-284-2224, Email: courrier@glv.com