Electric & Gas Technology, Inc. Executes Agreement With Pakistan Business Group for $39.2 Million

Apr 18, 2001, 01:00 ET from Electric & Gas Technology, Inc.

    DALLAS, April 18 /PRNewswire/ --
 Electric & Gas Technology, Inc. (Nasdaq:   ELGT) has signed a contractual
 agreement to supply ELGT engineered and designed equipment to produce three
 million gallons per month of healthy purified drinking water derived from the
 atmospheric "air we breathe".
     This agreement has been negotiated and signed with Mr. Muhammad Jamal, a
 Pakistan industrialist who also signed an exclusive distributorship for the
 Nation of Pakistan for ELGT's "infinite fountain of water" products
 manufactured by ELGT's subsidiary.
     The system engineered, designed and to be installed by ELGT will be
 licensed primarily in Karachi, Pakistan with a population of 9.7 million.
     As with many other Asians and similar countries, Pakistan is very anxious
 to find sources of healthy drinking water for its citizens to offset much of
 the pollution and contamination in existing water sources.  Many of the poorer
 population cannot afford to purchase bottled water from retailers.
     Mr. Jamal, owner of G Tex Intl. A Pakistan corporation, also with offices
 in the U.S.A., will immediately purchase several "watermakers" products
 including a 100 gallon (378 liter) per day unit for demonstration to citizens
 of Karachi.
     ELGT management emphasizes that Mr. Jamal expects to obtain cooperation
 from the government officials of Pakistan in order to obtain the necessary
 financing including potential foreign aid based on the fact that the urgent
 need for healthy purified drinking water is a very humanitarian project to
 prevent sickness, and even death caused by polluted bacterial laden water
 presently consumed by Pakistan citizens.  The $39.2 million contract therefore
 is fully contingent on completion of such financing.
     The latest "state of the art" technology atmospheric water producing
 system is protected by several U.S. patents issued and held by ELGT and its
 Atmospheric & Magnetics Technology, Inc. subsidiary.
     All products and components are manufactured in the U.S. and shipped from
 ELGT's Dallas, Texas facility.
     The systems for Pakistan will consist of ten separate 37,800 liters
 (10,000 gallons) per day units or 378,000 liters or 100,000 gallon per day
 installations throughout the city of Karachi, Pakistan which for each 30 days
 will make available drinking water amounting to 11,340,000 liters (3 million
 gallons) per month.  Citizens of Pakistan will be supplied with one-half
 gallon sanitary plastic bottles to fill up as required which could amount to
 approximately 6,000,000 bottles per month.
     The only energy source to operate the system is electricity.  Pakistan
 presently produces annual electricity of approximately 59 billion kilowatt
 hours.  Each 10,000 gallon ELGT system requires 150 KW.
     In the event of any potential electricity failures the purchase contract
 will supply mobile diesel electric generators.
     ELGT began the development primarily of its large 10,000 gallon per day
 system in 1996 and U.S. Patents have been owned on its initial 5 gallon per
 day watermakers acquired in 1988 and updated in 1998.
     During the previous period ELGT has learned that several newly established
 corporations are in violation of ELGT's U.S. Patents which may result in legal
 action against such violation.
     ELGT invested and expended more than $1.5 million U.S.D. in its
 development and engineering of its very exciting "infinite fountain of water"
 all such funds derived from ELGT's own profits and cash flow.
     ELGT management stated that there is virtually an unlimited amount of
 water in the earth's atmosphere continuously derived from evaporation of water
 in the oceans, lakes, rivers and human and animal regeneration.
     The basic water is in the air we breathe and following acquisition and
 generation of such water, the use of ultraviolet, ozone and charcoal filters
 further purifies and eliminates much of the remaining bacteria to generate
 healthy purified drinking water as an excellent source for human consumption.
     The Pakistan agreement will result in making available approximately
 36,000,000 gallons or 136,000,000 liters per year which could supply
 approximately 72,000,000 bottles of one-half gallon or 1.89 liters.
     The fulfillment of the Pakistan contract is estimated to take
 approximately ten months of delivery and installation time including the
 required construction by Mr. Jamal of ten separate specially designed building
 enclosures to contain the atmospheric systems.
     ELGT also advised it has received requirements for proposals from the
 Nation of Morocco and Jordan and has presently shipped products to a Saudi
 Arabian company who desires to negotiate an exclusive distributorship for
 Saudi Arabia, Kuwait, U.A.E., and Bahrain in the near future.
     ELGT will advise of any further developments including the important
 matter of anticipated financing for the Nation of Pakistan, which cannot be
 assured at this time.
 
     SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
 OF 1995.
     This press release contains forward-looking information within the meaning
 of Section 29A of the Securities Act of 1933 and Section 21E of the Securities
 Exchange Act of 1934.  Forward-looking statements include statements
 concerning plans, objectives, goals, strategies, future events or performances
 and underlying assumption and other statements, which are other than
 statements of historical facts.  Certain statements contained herein are
 forward-looking statements and, accordingly, involve risks and uncertainties,
 which could cause actual results, or outcomes to differ materially from those
 expressed in the forward-looking statements.  The Company's expectations,
 beliefs and projections are expressed in good faith and are believed by the
 Company to have a reasonable basis, including without limitations,
 management's examination of historical operating trends, data contained in the
 Company's records and other data available from third parties, but there can
 be no assurance that management's expectations, beliefs or projections will
 result, or be achieved, or accomplished.
 
 

SOURCE Electric & Gas Technology, Inc.
    DALLAS, April 18 /PRNewswire/ --
 Electric & Gas Technology, Inc. (Nasdaq:   ELGT) has signed a contractual
 agreement to supply ELGT engineered and designed equipment to produce three
 million gallons per month of healthy purified drinking water derived from the
 atmospheric "air we breathe".
     This agreement has been negotiated and signed with Mr. Muhammad Jamal, a
 Pakistan industrialist who also signed an exclusive distributorship for the
 Nation of Pakistan for ELGT's "infinite fountain of water" products
 manufactured by ELGT's subsidiary.
     The system engineered, designed and to be installed by ELGT will be
 licensed primarily in Karachi, Pakistan with a population of 9.7 million.
     As with many other Asians and similar countries, Pakistan is very anxious
 to find sources of healthy drinking water for its citizens to offset much of
 the pollution and contamination in existing water sources.  Many of the poorer
 population cannot afford to purchase bottled water from retailers.
     Mr. Jamal, owner of G Tex Intl. A Pakistan corporation, also with offices
 in the U.S.A., will immediately purchase several "watermakers" products
 including a 100 gallon (378 liter) per day unit for demonstration to citizens
 of Karachi.
     ELGT management emphasizes that Mr. Jamal expects to obtain cooperation
 from the government officials of Pakistan in order to obtain the necessary
 financing including potential foreign aid based on the fact that the urgent
 need for healthy purified drinking water is a very humanitarian project to
 prevent sickness, and even death caused by polluted bacterial laden water
 presently consumed by Pakistan citizens.  The $39.2 million contract therefore
 is fully contingent on completion of such financing.
     The latest "state of the art" technology atmospheric water producing
 system is protected by several U.S. patents issued and held by ELGT and its
 Atmospheric & Magnetics Technology, Inc. subsidiary.
     All products and components are manufactured in the U.S. and shipped from
 ELGT's Dallas, Texas facility.
     The systems for Pakistan will consist of ten separate 37,800 liters
 (10,000 gallons) per day units or 378,000 liters or 100,000 gallon per day
 installations throughout the city of Karachi, Pakistan which for each 30 days
 will make available drinking water amounting to 11,340,000 liters (3 million
 gallons) per month.  Citizens of Pakistan will be supplied with one-half
 gallon sanitary plastic bottles to fill up as required which could amount to
 approximately 6,000,000 bottles per month.
     The only energy source to operate the system is electricity.  Pakistan
 presently produces annual electricity of approximately 59 billion kilowatt
 hours.  Each 10,000 gallon ELGT system requires 150 KW.
     In the event of any potential electricity failures the purchase contract
 will supply mobile diesel electric generators.
     ELGT began the development primarily of its large 10,000 gallon per day
 system in 1996 and U.S. Patents have been owned on its initial 5 gallon per
 day watermakers acquired in 1988 and updated in 1998.
     During the previous period ELGT has learned that several newly established
 corporations are in violation of ELGT's U.S. Patents which may result in legal
 action against such violation.
     ELGT invested and expended more than $1.5 million U.S.D. in its
 development and engineering of its very exciting "infinite fountain of water"
 all such funds derived from ELGT's own profits and cash flow.
     ELGT management stated that there is virtually an unlimited amount of
 water in the earth's atmosphere continuously derived from evaporation of water
 in the oceans, lakes, rivers and human and animal regeneration.
     The basic water is in the air we breathe and following acquisition and
 generation of such water, the use of ultraviolet, ozone and charcoal filters
 further purifies and eliminates much of the remaining bacteria to generate
 healthy purified drinking water as an excellent source for human consumption.
     The Pakistan agreement will result in making available approximately
 36,000,000 gallons or 136,000,000 liters per year which could supply
 approximately 72,000,000 bottles of one-half gallon or 1.89 liters.
     The fulfillment of the Pakistan contract is estimated to take
 approximately ten months of delivery and installation time including the
 required construction by Mr. Jamal of ten separate specially designed building
 enclosures to contain the atmospheric systems.
     ELGT also advised it has received requirements for proposals from the
 Nation of Morocco and Jordan and has presently shipped products to a Saudi
 Arabian company who desires to negotiate an exclusive distributorship for
 Saudi Arabia, Kuwait, U.A.E., and Bahrain in the near future.
     ELGT will advise of any further developments including the important
 matter of anticipated financing for the Nation of Pakistan, which cannot be
 assured at this time.
 
     SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
 OF 1995.
     This press release contains forward-looking information within the meaning
 of Section 29A of the Securities Act of 1933 and Section 21E of the Securities
 Exchange Act of 1934.  Forward-looking statements include statements
 concerning plans, objectives, goals, strategies, future events or performances
 and underlying assumption and other statements, which are other than
 statements of historical facts.  Certain statements contained herein are
 forward-looking statements and, accordingly, involve risks and uncertainties,
 which could cause actual results, or outcomes to differ materially from those
 expressed in the forward-looking statements.  The Company's expectations,
 beliefs and projections are expressed in good faith and are believed by the
 Company to have a reasonable basis, including without limitations,
 management's examination of historical operating trends, data contained in the
 Company's records and other data available from third parties, but there can
 be no assurance that management's expectations, beliefs or projections will
 result, or be achieved, or accomplished.
 
 SOURCE  Electric & Gas Technology, Inc.