FOR IMMEDIATE RELEASE   CONTACT: Scott Maloni
February 1, 2006     619-231-0996 ext. 323; 858-663-8838 (cell)

Poseidon Resources Selects Four Teams to Compete for Design and Construction of Carlsbad and Huntington Beach Desalination Projects

Stamford, CT – Poseidon Resources Corporation today announced that they have invited four contractor teams to submit binding offers for the engineering, procurement and construction (EPC) of the Carlsbad and Huntington Beach seawater desalination projects. 

The short-listed teams for the Carlsbad project include (1) Tetra Tech, Inc. in Joint Venture with the Israeli Desalination Engineering (IDE), JF Shea and Hydranautics; (2) Clark Construction, Befesa and URS; and  (3) American Water Services in Joint Venture with Pridesa, Western Summit and PBS&J.   The short-listed teams for the Huntington Beach project include (1) Tetra Tech, Inc. in Joint Venture with the Israeli Desalination Engineering (IDE), JF Shea and Hydranautics; (2) Clark Construction, Befesa and URS; and  (3) Veolia Water Systems. 

“We have invited each of the short-listed contractors to submit binding offers for construction of the Carlsbad and Huntington Beach desalination projects.  Offers are scheduled to be submitted in March and we intend to award the EPC contracts later this spring,” said Andy Kingman Chief Executive Officer for Poseidon Resources.  “All of the teams we selected include leading US contractors with extensive experience and expertise in constructing infrastructure projects in Southern California along with international partners with proven track records in building large-scale desalination plants worldwide.  We are confident that whichever team is chosen for each project, we will have an experienced and capable partner,” he said. 

The desalination project permitting and design is planned to be completed by the end of this year.  Facility construction is projected to begin in the first quarter of 2007 and to be completed by the end of 2008. 

Poseidon Resources specializes in developing and financing water infrastructure projects, primarily seawater desalination and water treatment plants.  These projects are implemented through innovative public-private partnerships in which private enterprise assumes the developmental and financial risks.  For more information on Poseidon Resources and the Carlsbad desalination plant visit our Carlsbad website at www.carlsbad-desal.com and for information on the Huntington Beach project visit our Huntington Beach website at www.hbfreshwater.com .