Watlington Waterworks Limited?s repurchase of all 320,620 shares from GE Ionics Incorporated paves the way for the company to take advantage of future business opportunities.

The repurchase of the shares increases the Bermudian ownership of the company to more than 80 percent and Watlington Waterworks CEO Alan Rance is bullish about the prospects of the company going forward.

?We have no immediate plans for the future but we are now prepared to look at any opportunities that may come our way and that are good for the company. An acquisition or a merger is always possible, the repurchase represents our belief in the future,? Mr. Rance said.

?We have been continually upgrading our infrastructure to make use of modern technology and be as efficient as we can to provide high quality water for distribution in Bermuda at a reasonable price.?

Mr. Rance said the company is approaching 75 years in operation and some of the pipelines are 75 years old or younger so the company has been replacing pipelines, introducing new plant and equipment to better serve the public

General Electric Company (GE) acquired Ionics Incorporate of Watertown, Massachusetts in February 2005.

GE Inonics is one of the leading water treatment equipment and technology companies in the world. On June 30 Watlington Waterworks agreed to repurchase from GE Inonics all 320,620 shares of the company held by GE Inonics.