GEORGE TOWN, Cayman Islands, B.W.I., Jan. 6, 2003 -- Consolidated Water Co. Ltd., which develops and operates seawater conversion plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent, today announced that it has renewed its contract with Safe Haven Ltd.
Safe Haven Ltd. is the owner/operator of The Links at Safehaven, an 18-hole championship golf course on Grand Cayman Island in the Cayman Islands, B.W.I. In 2002, The Links at Safehaven was voted the best golf course in the Caribbean for the fifth straight year by Caribbean World magazine.
Consolidated, which has been providing non-potable water to the golf course for landscaping and greens maintenance under various contracts since 1992, supplied The Links at Safehaven with 38.3 million U.S. gallons of water last year. The most recent contract expired December 31, 2002.
The new contract calls for Consolidated to continue supplying non-potable water to the golf course for at least two years and continues indefinitely thereafter, with a 120-day cancellation option for either party after completion of the two-year period.
It is not a policy of Consolidated Water Co. Ltd. to announce each contract received by the company or its subsidiaries. Such announcements are made, at management's discretion, whenever it is appropriate to highlight some unique aspect of a contract or when the contract involves a substantial customer.
Consolidated Water Co. Ltd. is engaged in the development and operation of seawater conversion plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. It currently operates a public water utility in certain areas of the Cayman Islands under a 20-year exclusive license from the Government of the Cayman Islands. The Company also operates reverse osmosis seawater conversion facilities on Ambergris Caye off the mainland of Belize, and in the Commonwealth of the Bahamas.
The common stock of Consolidated Water Co. Ltd. is traded on the Nasdaq National Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.consolidated-water.com .
