Insituform Technologies, Inc. Updates Its Earnings Forecasts

Business Wire, March 15, 2001

"In addition, while we had dealt with some regions, we need to move more quickly to address loading issues when they occur.

"We are taking the necessary actions.

"Fortunately, we are dealing with execution issues rather than a market problem. The market continues to grow and our order intake is strong. Our position in the market is strong and is becoming stronger yet as we integrate Kinsel.

"The problems in the current quarter are disappointing and they make us somewhat reticent to over promise for the future. Notwithstanding that, our goal is to make up the shortfall and come as close as possible to the original earnings expectations for the year."

Tony Hooper and Joe White, Vice President and Chief Financial Officer, will host a conference call at 9:30 a.m. Eastern Time on Friday, March 16, to discuss this announcement. After opening remarks, there will be a limited question and answer period. Anyone may listen to the conference call via the Internet by connecting through the Company's Web site (www.insituform.com) five to ten minutes prior to the scheduled time.

Anyone who is unable to listen to the live conference call, or wants to listen to it a second time, may access an audio archive of the webcast beginning approximately two hours after the conclusion of the conference call through www.insituform.com.

Insituform Technologies, Inc. is a leading worldwide provider of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems without digging and disruption. More information about the Company can be found on its Internet site at www.insituform.com.

This press release contains forward-looking statements, which are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors which could affect results include, among others, the competitive environment for the Company's products and services, the geographical distribution and mix of the Company's work, and other factors set forth in reports and documents filed by the Company with the Securities and Exchange Commission from time to time. Please use caution and do not place reliance on forward-looking statements.