SOURCE: Ecosphere Technologies, Inc.

September 14, 2009 08:00 ET

Ecosphere Energy Services Engages Simmons & Company as Strategic Advisor

STUART, FL--(Marketwire - September 14, 2009) - Ecosphere Energy Services, a majority owned subsidiary of Ecosphere Technologies, Inc. (OTCBB: ESPH), announces today that it has engaged Simmons & Company International ("Simmons"), a Houston based investment bank specializing in the global energy sector, as strategic advisors. Simmons' mandate is to assist Ecosphere in evaluating strategic alternatives to enhance shareholder value. These strategic alternatives may include partnerships, joint ventures, divestitures, sale, or other initiatives with the Ecosphere Energy Services subsidiary.

Simmons & Company Managing Director Matthew Pilon stated, "The emergence of natural gas shale plays in the U.S. and around the world require an energy company to have an in depth knowledge of water management and the right water recycling technology in order to reduce completion costs and protect vital water resources. What Ecosphere has created with their Ozonix mobile water treatment technology is a unique cost effective well site solution to water sourcing and disposal challenges. Ecosphere's mobile water treatment technology significantly reduces the chemical, water hauling, and disposal costs associated with natural gas well fracturing and production. We look forward to working with Ecosphere to be their strategic advisors."

John Ely, President of Ely & Associates and Vanguard Stimulation Services, stated, "The water treatment technology Ecosphere has proven in the field over the past year working with major energy companies is a major step change in our industry. Simmons understands the energy industry economics and has the proven ability to demonstrate to energy companies and oil field services companies the financial and environmental benefits of Ecosphere's technology."

Ecosphere Technologies Inc. CEO Dennis McGuire stated, "We have recently signed very significant service contracts with major energy companies. Since signing those contracts, we have been approached by several large oil & gas services companies that are interested in a relationship with our company. Ecosphere and our Bledsoe Capital partners sought out the most respected and experienced energy industry professionals to manage the process of dealing with these major companies interested in our technology. We are very pleased to have engaged Simmons & Company to manage the process of finding the right strategic alternative for us that will maximize our shareholder value."

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About Simmons & Company

Simmons & Company is the only independent investment bank specializing in the entire spectrum of the energy industry. Founded in 1974, the firm has acted as financial advisor in nearly $140* billion of transactions, including 550 merger and acquisitions worth over $97 billion. Simmons has served as co-manager on over $38 billion in public debt and equity offerings. During 2008 Simmons closed 39 M&A transactions worth $8.5 billion and co-managed 8 offerings worth nearly $8 billion. The firm's clients range from small, privately held companies to multi-billion dollar public entities. SCI is based in Houston, Texas with additional offices in Boston, Massachusetts; Aberdeen, Scotland; and London, United Kingdom.

About Ecosphere Technologies:

Ecosphere Technologies, Inc. (OTCBB: ESPH) is a diversified water engineering and environmental services company primarily focused on the natural gas industry. The Company provides water-recycling services to provide clean water for energy companies to extract natural gas from unconventional shale plays. 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:

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