Closing of GLV's Subscription Receipts Offering to Partially Finance the
Planned Acquisition of Christ Water Technology AG

MONTREAL, Oct. 30 /CNW Telbec/ - (All amounts are in Canadian dollars unless otherwise indicated.) GLV Inc. ("GLV"; ticker symbols GLV.A, GLV.B / TSX) announces that it has issued a total of 7,358,173 subscription receipts at a price of $7.25 per receipt to the Caisse de dépôt et placement du Québec (the "Caisse") and the Solidarity Fund QFL (the "Fund"). Each subscription receipt will be exchangeable, for no additional consideration, into one Class A subordinate voting share of GLV upon the closing of the voluntary takeover bid (the "Offer") launched by GLV to purchase up to 100% of the shares of Christ Water Technology AG ("CWT"), a company listed on the Vienna Stock Exchange (ISIN: AT0000499157; ticker symbol CWT). The gross proceeds from the private placement of subscription receipts total $53.3 M, of which $39.8 M comes from the Caisse and $13.5 M from the Fund, and will be placed in escrow until the Offer closing, which is subject to certain conditions. These proceeds will be used to finance part of the planned equity purchase price of approximately $105 M. In the event the acquisition does not close, the gross proceeds raised under the offering would be returned to the investors, which participated therein, and the subscription receipts would be cancelled. As previously announced, the acquisition will also be financed by the issuance of a new $25 M subordinated debenture to the Fund and from drawing on GLV's existing credit facility.

GLV's management aims to finalize the acquisition of CWT in November 2009.

    
    About GLV Inc.
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GLV is a leading global provider of technological solutions used in water treatment, recycling and purification, as well as in pulp and paper production. The Water Treatment Group (also known worldwide as "Eimco Water Technologies") specializes in the design and international marketing of solutions and high-performance, economical and eco-friendly processes for the treatment and recycling of municipal and industrial wastewater and water used in various industrial processes. It also offers water intake screening solutions for power stations, refineries and desalination plants. With its extensive technological portfolio, the group is positioned to provide comprehensive solutions for the filtration, clarification, treatment and purification of water that will either be returned into the environment, or be re-used in various industrial processes or for domestic purposes. The Pulp and Paper Group specializes in the design and global marketing of equipment and systems used in various stages of pulp and paper production, notably chemical pulping, pulp preparation and sheet formation and finishing. This group ranks among the foremost players in its industry and is a recognized leader in rebuilding, upgrading and optimization services for existing equipment, as well as the sale of spare parts. It also stands apart for the superior performance of several of its key products and technologies, notably in terms of energy savings. GLV is present in some 30 countries and has approximately 1,500 employees.

SOURCE GLV Inc.

For further information: For further information: Marc Barbeau, CA, Executive Vice-President and Chief Financial Officer, (514) 284-2224, courrier@glv.com, www.glv.com

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GLV Inc.

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