Award of RMB 46.5 million Desalination System project in Guangdong Province, China

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Asia Water Technology Ltd and Kaidi Water Services Co. Ltd secured Desalination System project.

The Board of Directors of Asia Water Technology Ltd. (the “Company”) wishes to announce that the Company and Wuhan Kaidi Water Services Co., Ltd. ( !”#$%&'()), a wholly owned subsidiary of the Company, have secured a desalination system project (the “Project”) in Guangdong Province, China. The combined contract value of the Project is approximately RMB46.5 million.

This desalination system project, being in the paper-making industry, is the Group’s first such project in the paper-making industry and is considered as a breakthrough for the Group in this industry.

The Project is entered into in the ordinary course of business and barring unforeseen circumstances, it is expected that the Project will contribute positively to the earnings and net tangible assets of the Group for the year ending 31 December 2011.

The Project is expected to commence immediately and is scheduled to be completed by end of January 2012.

None of the directors, controlling shareholders or substantial shareholders of the Company have any interest, direct or indirect, in the Project.

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