Innovative Biological Wastewater Treatment Solutions Provider Expands
                           International Presence

    HERZLIYA, Israel, March 25 /PRNewswire/ -- AqWise, the provider of a
leading biological based solution for wastewater treatment, today announced
closure of financing round at $3.6 million through existing investors:
AHMSA Steel Israel Ltd, Elron Electronic Industries (Nasdaq: ELRN) and
Israel Clean Tech Ventures. AqWise will use the proceeds to grow its
presence and market reach around the globe, as well as to continue
development of its innovative AGAR(R) (Attached Growth Airlift Reactor)
fixed biofilm moving bed process.

    Aqwise has already gained significant commercial success in 2008 by
winning several significant projects in industrial and municipal sectors.
Organizations around the world are using AqWise's solution to meet
stringent effluent quality requirements both cost effectively and on a
truly scalable basis. AqWise will further expand its wastewater treatment
offering by announcing enhancements to its AGAR(R) process at IFAT
(International Trade Fair for water - sewage - reuse - recycling), May 2008
in Munich on stand 300, in Hall A3.

    "We have a growing installation base around the world which is
benefiting from the results of waste water treatment plants with a small
footprint, while enabling easy future expansion and just-in-time capital
investment. We are proud of the work we are doing to protect nature's
precious resources by treating wastewater and to enable the scarce
commodity of water to be reused. We are grateful for the recognition from
top of the line investors who once again are demonstrating their confidence
in AqWise's future market strategy and innovative research and
development," said Elad Frenkel, Chief Executive Officer of Aqwise.

    For more information on AqWise, visit http://www.aqwise.com.

    About AqWise

    AqWise - Wise Water Technologies Ltd. is a world leader in the
development and implementation of innovative wastewater treatment solutions
which address today's urgent need for cost-effective wastewater treatment
plants for both industrial and municipal clients.

    AqWise's proprietary AGAR(R) (Attached Growth Airlift Reactor) family
of solutions increases capacity of BOD and nutrient removal in wastewater
treatment plants, and may be used for rapid, scalable and economical
upgrade of existing plants or for new plants which require a limited
footprint.

    The company's solutions are successfully installed worldwide in dozens
of municipal and industrial plants, in various fields such as pulp and
paper, food and beverage and aquaculture farms.

    AqWise is headquartered in Israel with offices in Mexico and has a
global presence via licensees, agents and representatives.

    About AHMSA Steel Israel

    AHMSA Steel Israel Ltd., a subsidiary of Altos Hornos de Mexico, the
largest integrated steel producer in Mexico, was founded in February 2004
as an investment and holding company, for diverse industrial sectors, from
mining through wastewater solutions.

    About Elron Electronic Industries

    Elron Electronic Industries Ltd. (Nasdaq: ELRN), a member of the IDB
Holding Group, is a leading Israel-based technology holding company
directly involved in the long-term performance of its group companies.
Elron identifies potential technologies, creates strategic partnership,
secures financing and recruits senior management teams. Elron's group
companies currently comprise of a diverse range of publicly-traded and
privately held companies primarily in the fields of medical devices,
information & communications technology, semiconductors and clean
technology. For further information please visit http://www.elron.com.

    About Israel Cleantech Ventures

    Israel Cleantech Ventures (ICV) was established in 2006 to provide
value added growth capital to exceptional entrepreneurs building Israel's
energy, water and environmental technology leaders. ICV's investment
professionals combine industry expertise gained through decades in senior
management positions at Israel's outstanding cleantech companies, with
proven abilities in identifying, investing in and supporting VC-backed
companies. Website: http://www.israelcleantech.com



    For more media information contact:

    Ranbir Sahota
    Vitis PR
    +44(0)121-242-8048
    ranbir@vitispr.com

    Noa Arouh
    MarCom Manager
    Aqwise
    +972-9-9591901
    noa@aqwise.com

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