E.S.I. Environmental Sensors Inc.
TSX VENTURE : ESV

E.S.I. Environmental Sensors Inc.

November 21, 2008 19:50 ET

ESI Announces Closing of $2.2 Million Non-Brokered Private Placement

VICTORIA, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2008) - ESI Environmental Sensors Inc. ("ESI", the "Company") (TSX VENTURE:ESV) is pleased to announce that it has filed for closing the first tranche of the $5.4 million placement previously announced September 4, 2008. The current tranche totals approximately $2.23 million and 7.44 million units ("Units") at $0.30 per Unit. The Company anticipates raising up to an additional $3.2 million as financial markets stabilize. Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into an additional common share at $0.35 for a period of one year and at $0.45 for an additional year from the closing date. The Private Placement is subject to TSX Venture Exchange acceptance.

Subject to Exchange approval, the Company will pay a finder's fee in connection with the private placement. The net proceeds of the Offering will be used for research and development, value engineering, marketing and general working capital purposes.

About ESI

ESI is a leading manufacturer of patented and proprietary solutions for environments where understanding the presence, movement, and/or amount of water are important. Major market sectors include: Agriculture, Golf and Turf, Scientific Research, Civil Engineering and Crude Oil. ESI solutions have been successfully introduced into more than 40 countries to enable customers to optimize their operations by monitoring the presence and movement of water, managing irrigation systems, and monitoring the integrity of landfill covers. Most recently, the Flo·Point™ instrument has been introduced to the Oil industry to measure the volumetric presence of water pumped during crude oil extraction for characterization and optimization of the process. ESI differentiates itself by translating the best technology and science available into practical, easy to use solutions. Irrigation managers, Reservoir Engineers, and Scientists have adopted ESI's products for their accuracy, ease of use, repeatability, and ability to operate in challenging environments. ESI is publicly traded on the TSX Venture Exchange under the symbol "ESV". Further information about ESI may be obtained through the Company's website at www.esisensors.com.

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