BWTR Basin Water (MM)

Basin Water, Inc. (Nasdaq:BWTR) announced today the pricing of its initial public offering of 6,000,000 shares of its common stock at a price to the public of $12.00 per share. All of the shares of common stock are being offered by the company. Basin Water has granted to the underwriters a 30-day option to purchase up to an additional 900,000 shares at the initial public offering price to cover over-allotments, if any. The shares will be quoted on the Nasdaq National Market under the symbol "BWTR." Janney Montgomery Scott LLC is acting as the sole book-runner and lead manager for this offering. A.G. Edwards & Sons, Inc. and Canaccord Adams Inc. are acting as co-managers of the offering. A copy of the final prospectus relating to this offering may be obtained, when available, by contacting Janney Montgomery Scott LLC, 60 State Street, 35th Floor, Boston, MA 02109, Attention: Equity Syndicate Department, Tel: (800) 477-9251 or prospectus@jmsonline.com. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 11, 2006. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Basin Water, Inc. Basin Water, Inc. designs, builds and implements systems for the treatment of contaminated groundwater. Basin Water has developed a proprietary, scalable ion-exchange wellhead treatment system that reduces groundwater contaminant levels in an efficient, flexible and cost-effective manner.