Consolidated Water Co. Ltd. to Align With Newwater Incorporated to Pursue Water Projects

October 24, 2005

Consolidated Water Co. Ltd., which develops and operates seawater conversion plants and water distribution systems in areas where natural supplies of drinking (i.e., potable) water are scarce, announced that it has entered into a non-binding Memorandum of Understanding (MOU) with Newwater Incorporated. Under the terms of the MOU, the companies will work together to develop business opportunities involving potable water and wastewater projects in new and existing markets.

Newwater Incorporated is partly owned by Zenon Environmental, a world leader in wastewater treatment with revenues in excess of $275 million (Cdn) that is headquartered in Ontario, Canada. Zenon is a leading developer, manufacturer and marketer of advanced membrane technologies.

"We believe that our two companies can leverage their respective technologies and operating expertise in the pursuit of opportunities in a number of countries for the supply of potable water produced by seawater reverse osmosis, and for wastewater treatment using membrane or other processes," commented Rick McTaggart, CEO of Consolidated Water Co. Ltd. "Our initial joint initiative will involve prospective water projects in Barbados, where the company currently produces water for golf course irrigation. Barbados has been officially declared a 'water short' island, and local officials have indicated an interest in resolving this problem through water reuse and desalination technology."

Consolidated Water Co. Ltd. is engaged in the development and operation of seawater conversion plants and/or water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. Consolidated currently operates water production and/or distribution facilities in the Cayman Islands, the British Virgin Islands, Barbados, Belize and the Commonwealth of The Bahamas.

Source:

Consolidated Water Co. Ltd.

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