AquaCell Management Extends Its Lock-Up Period

Feb. 5, 2002

AquaCell Technologies Inc. has announced that its officers and directors are extending the lock-up period on their restricted personal holdings in the company's stock for an additional 90 days until May 13, 2002.

"Although we had no intension of selling this stock at the present time, in order for us to demonstrate our support of our company, we collectively decided to formally extend the lock-up period on our restricted holdings," said James C. Witham, CEO.

The original lock-up on pre-IPO issued stock was for a period of one year from the completion of the company's initial public offering, which was consummated Feb. 12, 2001.

Source: AquaCell Technologies Inc.

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