Basin Water Files 2008 Annual Report on Form 10-K

On March 31, 2009, Basin Water, Inc. (NASDAQ: BWTR) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2008 with the Securities and Exchange Commission. The Company's 2008 Form 10-K contains an audit opinion that expresses doubt about the Company's ability to continue as a going concern. The 2008 Form 10-K is available on the Company's website at www.basinwater.com under "Investor Relations," and stockholders may receive a hard copy of the 2008 Form 10-K free of charge upon request.

About Basin Water

Basin Water, Inc. designs, builds and implements systems for the treatment of contaminated groundwater, industrial process water and air streams from municipal and industrial sources. It provides reliable sources of drinking water for many communities, and the ability to comply with environmental standards and recover valuable resources from process and wastewater streams. Basin Water has developed proprietary, scalable ion-exchange, biological and other treatment systems that effectively process contaminated water and air in an efficient, flexible and cost effective manner. Additional information may be found on the Company's web site: www.basinwater.com.

Forward Looking Statements

This press release contains forward-looking statements made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by their use of words, such as �estimate,� �expect,� �intend,� �anticipate� and other words and terms of similar meaning, in connection with any discussion of the Company�s financial statements, business, financial condition, results of operations or liquidity. Actual results may differ materially from these expectations due to various risks and uncertainties, including: negative reactions from the Company�s stockholders, creditors or customers to the Company�s restatement of its financial statements, the existence of other errors that may require further adjustment of the Company�s financial statements, the impact and result of any litigation, investigation or other action by The Nasdaq Stock Market, the SEC, any other governmental agency or other parties related to the Company�s restatement of its financial statements, the Company�s ability to manage its capital to meet future liquidity needs and continue operations, the effectiveness of any cost-saving measures by the Company, the Company�s limited operating history, significant operating losses associated with certain of the Company�s contracts, significant fluctuations in its revenues from period to period, the success of the Company�s strategic partners, its long sales cycles, market acceptance of its technology, the geographic concentration of its operations and customers, its ability to meet customer demands and compete technologically, the Company�s ability to enter into service and maintenance contracts with system sales, the Company's ability to renegotiate loss contracts with its customers, the Company�s ability to protect its intellectual property, regulatory approvals of the Company�s systems, changes in governmental regulation that may affect the water industry, particularly with respect to environmental laws, the Company�s ability to attract and retain qualified personnel and management members, and changes in the board of directors and management members. More detailed information about these risks and uncertainties are contained in the Company�s filings with the Securities and Exchange Commission, including the company�s Annual Report on Form 10-K/A for the year ended December 31, 2007 and subsequent Quarterly Reports on Form 10-Q, as amended. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company assumes no obligation to update these forward-looking statements to reflect any change in future events.

Basin Water (MM) (NASDAQ:BWTR)
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