December 06, 2007 19:12 ET

H2O Innovation's Administrators Election, Grant of Stock Option and Modification to its Share Option Plan

This press release is not intended for U.S. newswire agencies nor for circulation in the U.S.

QUEBEC CITY, QUEBEC--(Marketwire - Dec. 6, 2007) - Guy Goulet, Chairman of the Board and Chief Executive Officer of H2O Innovation (2000) Inc. (TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) announces the election of the directors of the Company, grant of stock options purchase and increase its share option plan.

During the Annual meeting of the Shareholders held Thursday, December 6th, 2007 at the Company's head office, the shareholders elected the following directors: Guy Goulet, Chairman of the Board and Chief Executive Officer, Frederic Dugre, President and Chief Operating Officer, Elaine C. Phenix, Jean-Marie Santander, Jacques Putzeys, Philippe Gervais, Andre Duquenne and John Booth. Moreover, the firm Raymond Chabot Grant Thornton LLP, Charactered Accountants, was re-elected external auditors of the Company for the fiscal year ending June 30th, 2008.

H2O also wishes to announce the grant of a total of 215,000 share purchase options to its directors and selected key personnel, in accordance with the terms and conditions of its share option plan. This grant is effective as of December 6th, 2007. Each share purchase option grants its holder the right to acquire one common share of H2O at a price of $ 1.50 before December 6th, 2012.

Finally, the Board of directors increased from 2 million to 3.4 millions the number of shares set aside for its share option plan. This number represents approximately 9.7% of the issued and outstanding shares. This increase is conditional to the approval of the TSX-Venture Exchange.

About H2O

H2O's mission is to provide safe, integrated and customized water treatment solutions in a changing environment.

The TSX Venture Exchange and the Alternext Exchange assume no responsibility for the relevance or accuracy of this press release.

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