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 Fields along with a Contract
Worth CA$5 M (EUR3 M) for the Microelectronics Industry - The combining of the
global operations and expanded portfolio of water treatment technologies is
progressing as scheduled =

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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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.

Further inquiry note:
GLV, Christ Water Technology AG
Marc Barbeau, CA
[email protected]
Phone: +1 (514) 284-2224
end of announcement euro adhoc
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issuer:   CHRIST WATER TECHNOLOGY AG
          Walter-Simmer-Straße 4
          A-5310 Mondsee
phone:    +43/6232/5011-1001
FAX:      +43/6232/5011-1109
mail:     [email protected]
WWW:      www.christ-water.com
sector:   Biotechnology
ISIN:     AT0000499157
indexes:  WBI, ATX Prime

stockmarkets: official market: Wien
language: English

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