GLV Issues 7,358,173 Million Class A Shares to the Caisse de dépôt et
placement du Québec and Solidarity Fund QFL in Exchange for their
Subscription Receipts, in View of the Closing of the Christ Water Technology

MONTREAL, Nov. 23 /CNW Telbec/ - (All amounts are in Canadian dollars unless otherwise indicated.) GLV Inc. ("GLV"; ticker symbols GLV.A, GLV.B / TSX) announces that the 7,358,173 subscription receipts issued at a unit price of $7.25, on October 30, 2009, to the Caisse de dépôt et placement du Québec (the "Caisse") and the Solidarity Fund QFL (the "Fund"), were exchanged today for no additional consideration into an equal number of Class A subordinate voting shares of GLV. This transaction follows the November 17, 2009 announcement that, pursuant to the voluntary takeover bid (the "Offer") launched by GLV to acquire up to 100% of CWT's shares, shareholders of Christ Water Technology AG ("CWT") have tendered their shares into the Offer in a proportion of 80.5% of CWT's outstanding voting shares. As a result of the exchange of the subscription receipts into GLV Class A shares, GLV received $53.3 M gross proceeds (of which $39.8 M from the Caisse and $13.5 M from the Fund) of the private placement of subscription receipts, escrowed since October 30, 2009.

Such proceeds will be used to finance part of the cash consideration for the acquisition of CWT's equity, at a price of (euro)3.35 per share, scheduled to close on or prior to November 27, 2009. As of November 17, 2009, on expiry of the Offer, 80.5% of CWT's outstanding shares had been tendered by shareholders, representing a cash consideration of $85.0 M at the Euro/Canadian dollar exchange rate in effect on that date. CWT shareholders who have not yet tendered their shares have another three months to do so for a cash consideration of (euro)3.35 per share pursuant to the same terms as set forth in the Offer. GLV aims to acquire 100% of CWT's shares for an additional cash consideration of approximately $20 M (at the exchange rate in effect on November 17, 2009).

The acquisition of 100% of CWT's equity will also be financed by the issuance of a $25 M subordinated debenture to the Fund and by drawing on GLV's existing credit facility.

    About GLV Inc.

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 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.


For further information: For further information: Marc Barbeau, CA, Executive Vice-President and Chief Financial Officer, (514) 284-2224,,

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