Global Water Technologies Provides Shareholder Update

INDIANAPOLIS, June 27, 2011 /PRNewswire-FirstCall/ — Global Water Technologies,
Inc. (OTC Markets: GWTR) announces it has completed an update of its financial
information and is preparing to apply for an upgraded status on the OTC Markets
along with a reverse split of its stock to provide better access to capital
markets.

“During the past two years, the company took the difficult steps needed to
survive the economic downturn, maintain its operations and create a stable
platform that allows investors to connect with new water technologies,” said CEO
Erik Hromadka. “As we approach the end of the second quarter, we are pleased to
announce several significant steps to complete this process.”

2009 and 2010 financial update

As reported previously, the company has engaged a CPA to maintain its books. As
a result, financial information for 2009 and 2010 has also been compiled by an
outside accounting firm and is now available at www.gwtr.com/2010financials.pdf.

In a separate Management Discussion and Analysis, the company reviews the
financial information and makes note that a conservative approach has been taken
in valuations for intellectual property, net operating loss carryforwards and
other items. That management report is also available at
www.gwtr.com/2010mdaa.pdf.

OTC Markets upgrade

With the release of financials for the first time since emerging from bankruptcy
in 2004, the company believes it is now in a position to move from a status of
“No Information” on the OTC Markets to a status of “Limited Information.”

The Company expects to request that higher status by June 30. According to the
OTC Markets, such a move generally results in increased trading activity. More
information is available at:

http://www.otcmarkets.com/companies-advisors/upgrade-otc-tier.

Reverse Split

As noted in its first quarter update, the company has been exploring additional
funding for new projects that may result in the issuance of additional shares
and a move to restructure the existing shares so they are not trading in
fractions of a penny.

The board expects to have written consent from a majority of its shareholders to
complete a reverse split on a one for one hundred basis. Accordingly, a board
meeting has been scheduled to make such a request to the Financial Industry
Regulatory Authority (FINRA) and the company’s transfer agent. The company will
provide timely updates on the status of this process over the next 30 days.

The company believes the reverse split will benefit all shareholders by
improving the company’s visibility to capital markets, increasing investor
interest and providing better access to funding opportunities on favorable
terms. The company has also been advised that many brokers will no longer
perform trades in stocks at less that $0.001.

“All three of these steps have been planned carefully to provide the best
opportunities for both new and existing shareholders,” Hromadka said. “We have
also taken steps to develop new opportunities for the company and expect to
announce progress on those in the coming months.”

Additional information is available on the company’s web site at: www.gwtr.com.

FORWARD-LOOKING STATEMENT:

Statements relating to plans, strategies, economic performance and trends,
projections of results of specific activities or investments, and other
statements that are not descriptions of historical facts may be forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking information is inherently
subject to risks and uncertainties, and actual results could differ materially
from those currently anticipated due to a number of factors, which include, but
are not limited to, risk factors inherent in doing business. Forward-looking
statements may be identified by terms such as “may,” “will,” “should,” “could,”
“expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,”
“predicts,” “forecasts,” “potential,” or “continue,” or similar terms or the
negative of these terms. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance or achievements. The company has no
obligation to update these forward-looking statements.

SOURCE Global Water Technologies, Inc.