Euro Tech Holdings Announces Establishment of New Company

Chinah2o.com is a Hong Kong corporation wholly-owned by Euro Tech (Far East) Ltd., a wholly owned subsidiary of Euro Tech. Through Chinah2o.com, Euro Tech plans to launch a Business-to-Business internet platform in the summer of 2000. The website is under construction and is located at (http://www.chinah2o.com ). The B2B is to be directed at environmental business in China. The purpose of the B2B website is to connect manufacturers, distributors and suppliers of environmental protection equipment and related consultants and engineering firms in the West with potential clients in China (i.e., water, wastewater treatment plants, environmental protection bureaus, environmental monitoring stations, and related industries). It is planned that the website will provide environmental news, directories of western suppliers, potential clients in China, advertisement space and business opportunities. Chinah2o.com may just match suppliers and clients or offer valued added services if required. It is envisaged that the business and other activities generated by Chinah2o.com will have a synergistic effect with those of Euro Tech. Euro Tech's core business is the distribution of automated process control, analytical and testing equipment in the fields of water and wastewater treatment.