ELGT Subsidiary Atmospheric water Technology ("AWT") signs Exclusive Agreement with Major Government and Defense Contractor

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ELGT Subsidiary Atmospheric water Technology ("AWT") signs Exclusive Agreement with Major Government and Defense Contractor

TEXAS, DALLAS, Oct. 23 -/E-Wire/-- Electric & Gas Technology, Inc. ("ELGT") NASDAQ Bulletin Board announced today the signing of an exclusive agreement with a major government and defense contractor for the United States Government and Military locations worldwide for WATERMAKER TM Solution Portfolio. The WATERMAKER TM Solution produces healthy, purified drinking water from the atmospheric air we breathe.

According to S. Mort Zimmerman, Chairman of the Board of ELGT, the relationship is a validation of its U.S. patent and copyrighted technology that AWT has created. "We have always believed that our technology in converting air into water has a special place in assisting people and countries around the world that are in need of purified drinking water. The United Nations has designated the year 2003 as the "Year of Fresh Water" to emphasize the urgent need for healthy purified water needed throughout the World. The agreement with this major government contractor will facilitate our ability to bring this technology to market. They are very well respected company in the government and defense sector and have the professional leadership we were looking for to distribute our technology globally. We are looking forward to a long term successful relationship with this well known contractor. "

The WATERMAKER TM is a unique system which provides an abundance of clean water before it has been exposed to earthly contaminates. The system produces from 30 gallons per day up to 10,000 per day. The large metropolitan solution can produce up to 2,000,000 gallons per day and installed with a unique automatic bottling facility should produce 3,780,000 - two (2) liter bottles per day utilizing only electricity .The systems can be fabricated and installed in 90 to 120 days depending on the volume of production required.

ELGT advised that statistically the amount of water which continuously recirculates in the Earth's atmosphere is approx. 13,000 trillion cu meter or more than 3 million trillion gallons or 11.3 million trillion liters.

ELGT has large installations currently in Saudi Arabia, U.A.E., Egypt and Pakistan.

Electric & Gas Technology, Inc. ("ELGT") was organized under the laws of the State of Texas on March 18, 1985, to serve as a holding company for several operating subsidiary businesses. Atmospheric Water Technology, Inc. (" A WT") a subsidiary of ELGT was incorporated in June, 1997, was created to focus on the opportunities in the water industry. ELGT other businesses include a company in the natural gas industry to provide a broad line of precision instrumentations, electric group that designs and sells meter sockets and pole line hardware, and an affiliated manufacturing group for producing sheet metal applications.

SAFE HARBOR INVESTMENT 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

Electric & Gas Technology, Inc

Executive Vice President

(PHONE [REDACTED-PHONE])

Media Contact: Joe Petruzella

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