Eurotech, Ltd. Updates Environmental Technology Portfolio

Eurotech, Ltd. (OTC Pink Sheets:EUOT) is pleased to update the status on its environmental technologies and advanced materials for use in industrial products such as its hybrid non-isocyanate polyurethane (HNIPU) for coatings and paints, and its radiation-resistant EKOR encapsulant material, specifically created to contain nuclear and other hazardous wastes.

News Release
For Immediate Release:
February 7, 2003

Contact:
ECON Investor Relations, Inc.
Dawn Van Zant, 1-800-665-0411
dvanzant@investorideas.com

Eurotech, Ltd. Updates Environmental Technology Portfolio

FAIRFAX, VA.--(BUSINESS WIRE)--Feb. 7, 2003--Eurotech, Ltd. (OTC Pink Sheets:EUOT) is pleased to update the status on its environmental technologies and advanced materials for use in industrial products such as its hybrid non-isocyanate polyurethane (HNIPU) for coatings and paints, and its radiation-resistant EKOR encapsulant material, specifically created to contain nuclear and other hazardous wastes.

The Company believes that HNIPU has gained increased visibility over the last several months through trade and industry publications resulting in commercial interest, as well as, joint development interest for potential licensing and production. Several project proposals and evaluations are underway with EKOR and management is planning for HNIPU's technology transfer and commercialization.

HNIPU Developments:

The newly developed acrylic HNIPU technology completed 2,000 hours plus of accelerated UV and weather exposure testing with continued retention of its excellent physical properties. A room temperature cure version is being prepared for testing to complete a package for HNIPU's binder use in commercial and industrial coatings and paints.

Industry sample requests have backlogged our limited production capability in Israel and have accelerated the Company's interest in securing U.S. production. Interested licensee resin/binder formulators are being evaluated with a goal of finalizing a new technology transfer partner no later than third quarter 2003.

The previously announced preinsulated piping foam development project has progressed with the first organizational visit in the US last month and the first plant/facility visit between technical personnel in Denmark this week.

EKOR Developments:

As the radiation-resistant EKOR completes its third year of encapsulating the most critical nuclear fuel containing mass next month under the failed Chernobyl reactor number 4, EKOR continues to perform perfectly, with no physical degradation in the severe chemical and high radiation environment inside the sarcophagus at the Ukraine nuclear accident site.

Eurotech believes that EKOR is demonstrating its ability to solve challenging nuclear and hazardous waste management problems at US and international nuclear sites that may develop. EKOR matrix is being evaluated for the treatment of several such nuclear waste streams.

In addition to tolerating accumulated doses equivalent to centuries of exposure to high radiation without degradation of its encapsulating properties, EKOR may be applied to most unprepared construction surfaces, including wet. EKOR is a strong, fireproof adherent that can be sprayed, poured or mixed, making it potentially attractive for many containment, transportation, storage and disposal programs.

Eurotech considers EKOR suitable as an alternative for low activity waste encapsulation such as being contemplated for some of the liquid waste supporting accelerated tank closure at Hanford, Washington.

Corporate Developments:

The Company has reduced its burn rate by over 50% over the last six months and will continue to make additional cuts if necessary. The company has raised sufficient short-term capital for day-to-day operations while seeking long-term financing from other sources.

Eurotech recently completed a transaction with Markland Technologies, Inc., that placed its homeland securities technologies into their final stage of development and commercialization. This agreement also significantly reduced Eurotech's overhead and burn rate. Eurotech's 80 percent share of Markland currently has a substantial market cap contribution toward Eurotech's holdings.

The company is also in discussions with its preferred stock holder, Woodward LLC, to retire all outstanding obligations. Chad A. Verdi, Eurotech's Vice-Chairman stated that the Company's goal is to eliminate all of the 12.5 million dollars of preferred stock to Woodward, as well as, any other long-term debt we may have.

The Company is discussing licensing several of its technologies to other companies. By doing this, Eurotech will further reduce burn rate and expenses to shift its focus on managing assets including the shares in Markland Technologies.

Verdi said, "Today our shares in Markland have a market value that exceeds Eurotech's market cap. We would like to repeat the Eurotech/Markland licensing model and use these assets to refinance and restructure the company."

About Eurotech, Ltd.

Eurotech is a corporate asset manager seeking to acquire, integrate and optimize a diversified portfolio of manufacturing and service companies in various markets. Our mission is to build value in our emerging technologies and in the companies we acquire and own, providing each with the resources it needs to realize its strategic business potential.

Our emerging technology business segment develops and markets chemical and electronic technologies designed for use in Environmental Security.

Our portfolio of technologically advanced products includes (i) proprietary materials created to specifically solve the serious problems of how nuclear and other hazardous wastes are cost effectively contained, and (ii) advanced performance materials for use in industrial products such as coatings and paints. For additional information about Eurotech and its technologies please visit the Company website: www.eurotechltd.com.

"Safe Harbor Statement" Under the Private Securities Litigation Reform Act of 1995 Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Eurotech, Ltd. officials during presentations about Eurotech, Ltd., are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act.
Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Eurotech, its technology, economic and market factors and the industries in which Eurotech, Ltd. does business, among other things. These statements are not guarantees of future performance and Eurotech, Ltd. has no specific intention to update these statements. More detailed information about those factors is contained in Eurotech Ltd.'s filings with the Securities and Exchange Commission.

    
For more information, contact Dawn Van Zant, ECON Investor Relations, Inc., via email dvanzant@investorideas.com or call toll free 800-665-0411.