Aqua Care Announces Signing Letter of Intent to Purchase Williams Instrument Co. Inc

Business Wire, Feb 4, 1998

CORAL SPRINGS, Fla.--(BUSINESS WIRE)--Feb. 4, 1998--On Feb. 4, 1998, Aqua Care (NASDAQ:AQCR) announced that they signed a letter of intent in which Aqua Care will purchase the assets and assume certain liabilities of the Williams Instrument Co. Inc. of Valencia, Calif.

Aqua Care said that the closing of the transaction is expected by April 30, 1998, subject to normal and customary contingencies, including the completion of due diligence and the signing of a Definitive Purchase Agreement all satisfactory to the company. The terms of the pending transaction were not disclosed.

William K, Mackey, chairman and CEO of Aqua Care said: "We look forward to the Williams Instrument Company Inc. joining our family of companies. Jim Williams has built a name brand company over the last 30 years with excellent quality innovative products that we can help reach their full potential. We expect to carry on with the Williams' name and consolidate our metering pump group under the Williams umbrella."

The statements in this press release that are not historical facts constitute "forward-looking statements" that involve risks, uncertainties and other facts that may cause actual results to be materially different from those set forth in the forward-looking statements. Such factors include but are not limited to the following: general economic and business conditions; competition; the ability to implement and the effectiveness of business strategy and development plans; availability of qualified personnel; labor and employee benefit costs; and availability of cost and raw materials and supplies. Aqua Care Systems Inc. will not undertake and specifically declines any obligation to publicly release the result of any revisions which may be made to forward-looking statements to reflect the events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Aqua Care Systems Inc., based in Coral Springs, is a manufacturer and supplier of municipal, industrial and residential wastewater treatment and water filtration and purification systems. Aqua Care's subsidiaries include EnviroSystems Supply Inc., Gravity Flow Systems Inc., Filtration Systems Division of Aqua Care Systems Inc., KISS International Inc., Midwest Water Technologies Inc., Di-tech Systems Inc. and Car Wash Equipment & Supply, Ryko of South Florida Inc.

CONTACT: Aqua Care Systems Inc., Coral Springs

William K. Mackey, Chairman and CEO

954/796-3338