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WATERBANK^® ANNOUNCES THE ISSUANCE OF ITS WATERBANK I, LIMITED PARTNERSHIP

     On August 24, 2008, WaterBank announced the availability of the offering documents for its WaterBank I, Limited Partnership.  The offering is being issued under Section 505 of Regulation D of the Securities Act of 1933 to accredited investors only.  The limited partnership seeks to raise $5,000,000 for the acquisition of water rights in the Middle Rio Grande Valley.  The water rights will be transferred to municipal water systems within the Rio Grande Valley for sale to or participation with real estate developers.  Most municipalities within the Rio Grande valley require that developers bring water rights to the municipal water systems as a condition for approval of development plans.  Bill Turner, Trustee and CEO of WaterBank said that the acquisition of water rights by developers can be problematic and time consuming.  The leaves their real estate as a stranded asset until they can gather the water rights.  By acquiring and moving the water rights to municipal systems and banking them there a developer can acquire the water rights immediately and remove a great degree of investment risk from the development.

     WaterBank believes this is the first investment vehicle in the water space that is purchasing water rights.  WaterBank is the largest and most experienced single stop shop for the validation, acquisition, and transfer of water rights in New Mexico and likely the United States.  From early inquiries, Bill Turner said that the Offering might already be oversold.  WaterBank will begin shipping the Offering Documents on Monday, August 25, 2008.  WaterBank has had expressions of interest from Europe and throughout the United States.

     WaterBank intends to follow the WaterBank I, Limited Partnership with a second Offering.