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Consolidated Water Co. Ltd. Selected to Build and Operate Seawater Desalination Plant in Bermuda

Posted on: Monday, 2 October 2006, 09:01 CDT

GEORGE TOWN, Grand Cayman, Cayman Islands, Oct. 2 /PRNewswire-FirstCall/ -- - Consolidated Water Co. Ltd. , which develops and operates seawater desalination plants and water distribution systems in areas where naturally occurring supplies of potable water are scarce or nonexistent, today announced that it has been advised by the Government of Bermuda that the Company has been successful in its Design, Build and Operate (DBO) bid for the Tynes Bay Desalination Plant on the north coast of Bermuda.

The project is comprised of a 600,000 US gallon per day (USgpd) seawater desalination plant, a full standby electrical power plant and 1.27 miles of main water delivery pipelines. The production capacity of the plant is designed for expansion to 1.2 million USgpd at a later date.

The definitive contract, which has yet to be negotiated by the parties, will require the Company's recently formed affiliate, Consolidated Water (Bermuda) Limited, to construct and commission the plant and pipeline within 12 months and to operate the plant for at least 12 months after commissioning. The Company intends to loan its Bermuda affiliate the funds to construct the plant and will enter into a contract with the affiliate to manage its operations.

"We are very pleased to have been selected by the Government of Bermuda for this project, which will expand to six the number of countries where Consolidated is producing potable or non-potable water from the sea," stated Rick McTaggart, Chief Executive Officer of Consolidated Water Co. Ltd. "While the initial operating contract for Tynes Bay will cover a period of only 12 months following the plant's commissioning, we are optimistic that our operation of the plant with experienced personnel will lead to an expanded relationship with the Government of Bermuda."

Consolidated Water Co. Ltd. is engaged in the development and operation of seawater desalination plants and 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. The Company has also received a contract to build and operate a seawater desalination plant in Bermuda.

The common stock of Consolidated Water Co. Ltd. is traded on the Nasdaq Global Select Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.cwco.com/.

This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, changes in its relationship with the Governments of the jurisdictions in which it operates, the ability to successfully secure contracts for water projects in other countries, including the successful negotiation of a definitive agreement with the Government of Bermuda to build and operate the Tynes Bay desalination plant, the ability to develop and operate such projects profitably and the Company's ability to manage growth and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For further information, please contact:

Frederick W. McTaggart, President and CEO, at (345) 945-4277 or via e-mail at

info@cwco.com http://www.cwco.com/ or

RJ Falkner & Company, Inc., Investor Relations Adviser at (800) 377-9893 or

via e-mail at info@rjfalkner.com

Consolidated Water Co. Ltd.

CONTACT: Frederick W. McTaggart, President and CEO of Consolidated WaterCo. Ltd., +1-345-945-4277, info@cwco.com; or RJ Falkner & Company, Inc.,Investor Relations Adviser, +1-800-377-9893, info@rjfalkner.com, forConsolidated Water Co. Ltd.

Web site: http://www.cwco.com/

Source: PRNewswire-FirstCall

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