SOURCE: Ecosphere Technologies, Inc.

April 25, 2008 08:00 ET

Bledsoe Capital Group Signs Letter of Intent to Invest $10 Million in Ecosphere Technologies

Bledsoe Capital to Invest in Ecosphere's Clean Water and Clean Energy Technologies

STUART, FL--(Marketwire - April 25, 2008) - Ecosphere Technologies, Inc. (OTCBB: ESPH), a diversified clean technology and water engineering services company, today announced that Bledsoe Capital Group signed a letter of intent to invest $10 million in Ecosphere's clean water and clean energy technologies. The letter of intent consists of two separate transactions, including a capital infusion and a technology sale. The agreement is subject to final due diligence and the first $1 million investment is due within 20 days. Terms of the transaction will be disclosed upon the completion of a definitive agreement.

Dennis McGuire, Founder and CEO of Ecosphere Technologies, stated, "We are pleased that the Bledsoe Capital Group has taken the time and effort to truly understand the opportunity we have to achieve a great return while helping clean and conserve the planet's water resources. The first capital infusion will enable us to build and deploy our first mobile water filtration and treatment unit into the Barnett Shale region of Texas, where we will work with a leading U.S. energy company to clean and recycle water used in its natural gas drilling and production."

Drew Bledsoe, Founder and Principal of Bledsoe Capital Group, stated, "We have been evaluating numerous investment opportunities with potential economic benefit for our investors and a positive impact on our environment. After careful consideration, it is our belief that Ecosphere's mobile water treatment and recycling technologies provide the best technical, economical, and environmental solution."

Chad Wold, Managing Director and General Counsel of Bledsoe Capital Group, said, "Bledsoe Capital looked at more than 100 companies for possible investment. We recently visited the Barnett Shale and met with a large energy company that Ecosphere is working with to help them recycle their produced waters. We believe that the Ecosphere Ozonix™ process is a game-changing technology that will enable the natural gas exploration business to recycle their waters that are produced during the gas exploration process. When you can deploy a high-volume mobile water filtration technology to recycle water in the process of producing clean energy, everyone wins. We look forward to a long-term relationship with Ecosphere Technologies to show the rest of the world that it is possible to be a socially responsible, economically viable and environmentally friendly business."

To stay informed of news and events, join Ecosphere's e-mail list by clicking the link below:

About Ecosphere Technologies

Ecosphere Technologies, Inc. (OTCBB: ESPH) is a diversified clean technology and water engineering services company dedicated to innovative technologies and solutions that make life better. Ecosphere's mission is to identify, create and produce clean technologies that solve a significant industry challenge, improve the quality of life and the environment, and are economically viable. Ecosphere has an extensive portfolio of patented clean technologies that can be purchased and licensed for use in large-scale and sustainable applications across industries, nations and ecosystems. For more information, please visit:

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including the completion of due diligence by Bledsoe Capital and signing a definitive Agreement. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the ability of Ecosphere to agree upon all contractual terms and the results of Bledsoe Capital's due diligence. Further information on Ecosphere's risk factors is contained in its filings with the Securities and Exchange Commission, including the prospectus filed February 1, 2007, as supplemented, the Form 10-KSB for the year ended December 31, 2007 and the Form 10-QSB filed April 15, 2008. Ecosphere does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information