EANS-Adhoc: CHRIST WATER TECHNOLOGY AG / GLV and Christ Water Technology Announce the Recent Award of contracts Totalling CA$67 M (EUR45 M) in the Seawater Desalination and Drinking Water Treatment Fi

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Company Information

28.01.2010

Montreal, Canada, January 28, 2010 — GLV Inc. ("GLV"; ticker symbols
GLV.A, GLV.B / TSX) and its Austria-based subsidiary Christ Water
Technology AG ("CWT"; ticker symbol CWT / Vienna Stock Exchange) are
pleased to announce that CWT has been recently awarded several large
contracts totalling over CA$67 M (EUR45 M) in North Africa and the
Middle East to supply complete technological solutions in the areas
of seawater desalination and drinking water treatment. This
development occurs two months after GLV´s acquisition of over 80% of
the outstanding shares of CWT, one of the key advantages of which was
to provide complementary technologies to those of GLV´s Water
Treatment Group (Eimco Water Technologies or "EWT") in several
high-potential markets, such as seawater desalination.

Some of the new orders will be delivered over the next fiscal year
ending March 31, 2011, but most will be completed in fiscal 2012. The
largest, worth CA$35 M (EUR23 M), consists of the implementation of
desalination and drinking water production plants in Northern Africa,
and also includes a two-year facility operation contract. Richard
Verreault, President and Chief Operating Officer of GLV, said that
these parts of the world offer good potential for further contracts
of this type, considering their demographic growth and specific needs
for drinking water treatment. "In addition, the combination of CWT´s
ultra-filtration, demineralization and process water recycling
technologies, on the one hand, and EWT´s water intake screening
solutions, on the other, will reinforce our positioning as a provider
of complete solutions in this niche."

Management also announces a new order worth over CA$5 M (EUR3 M) from
a global producer of semi-conductors, a field in which CWT has
developed recognized expertise and a significant business base.
"Being awarded this contract not only confirms GLV´s entry, through
CWT, into a new market segment, but it also attests to an improvement
in market conditions and investments in the microelectronics
industry," added Mr. Verreault.

More than 88% of CWT´s Shares Acquired or Tendered as of Today

GLV´s management confirms that as of today, 88.14 % of CWT´s
outstanding shares have either been purchased by GLV (86.5%), or
tendered by CWT´s shareholders (1.64%). Pursuant to the terms of the
voluntary takeover bid for CWT´s shares (the "Offer") launched by GLV
in October 2009, CWT´s shareholders have until February 19, 2010 to
tender their shares. Marc Barbeau, Executive Vice-President and Chief
Financial Officer, indicated that the share purchase process is
progressing as scheduled. "Given the percentage of shares tendered
and purchased to date, we are confident that GLV will complete the
purchase of CWT´s total share capital during the coming quarters."

The Combining of EWT and CWT´s Global Operations Is Progressing in
Accordance with Management´s Expectations

Within the first week following the closing of the CWT acquisition,
the officers of GLV and its Water Treatment Group visited all of
CWT´s offices and met with all employees. A special committee
comprised of key managers of EWT and CWT was set up to implement the
combination plan of both companies´ respective global organizations.
Thus far, the following main initiatives have already been taken:

• CWT has divested the 49% interest it held in the Zeta Group, whose
operations did not fit into GLV´s strategic focus.

• Substantially all of CWT´s head office functions, previously
carried-out in Switzerland and Austria, have been assumed by GLV´s
head office in Montreal (Canada).

• The Company has undertaken to restructure some of CWT´s business
centres in North America and Europe in order to eliminate certain
non-strategic operations. In addition, it has already initiated the
process of combining CWT´s and EWT´s operations in China and
Singapore to maximize the synergies.

• Subsequent to its assessment of the assets and positioning of CWT´s
"Food and Beverage" division, management decided to maintain these
operations. "This CWT division has sound technologies and we see good
potential to restructure it financially and increase its value within
a reasonable timeframe of 12 to 24 months," Richard Verreault
explained.

• The Company is currently drawing up a global branding strategy to
fully leverage the reputation and awareness of CWT´s and EWT´s
various technologies, trademarks and business entities.

• Finally, as planned, CWT´s balance sheet at the acquisition date
has been restructured to ensure its financial health, solidity and
compliance with the criteria in place at GLV, which entailed major
adjustments to several assets and liabilities. CWT´s balance sheet
position at the acquisition date resulting from these adjustments
will be reflected in GLV´s balance sheet in the purchase equation.
However, it should be noted that the aforementioned adjustments will
be accounted for in the results of the public subsidiary CWT for its
fourth quarter and fiscal year ended December 31, 2009.

Management is satisfied with the way the combination is progressing.
In light of recent market developments, GLV is also confident that
the CWT / EWT combination will provide the Water Treatment Group with
broader and sustainable growth drivers and, global leadership over
the medium and long term, as it will result in a more complete,
stronger value-added technological portfolio, a better balanced
positioning between the industrial and municipal segments, an
increased presence in certain high-growth markets — such as thermal
power generation, seawater desalination, petrochemicals and
microelectronics industries — and a stronger international footprint,
notably in Asia and Europe.

end of announcement euro adhoc
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ots Originaltext: CHRIST WATER TECHNOLOGY AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

GLV, Christ Water Technology AG

Marc Barbeau, CA

marc.barbeau@glv.com

Phone: +1 (514) 284-2224

Branche: Biotechnology
ISIN: AT0000499157
WKN: 675399
Index: WBI, ATX Prime
Börsen: Wien / official market