SECURITIES COMMISSION OF THE BAHAMAS

PRESS RELEASE - FOR IMMEDIATE RELEASE

RE:   Cavitation Concepts Corporation Ltd.

August 27, 2003

The Securities Commission of The Bahamas has been made aware of the invitation to the general public for the purchase of shares in Cavitation Concepts Corporation Ltd. (“Cavitation”).  Further, that this invitation has been labelled a Private Placement offering. 

It is the position of the Securities Commission of The Bahamas (“the Commission”) that the subject offering is NOT a private placement and is in contravention of section 54(1) of the Securities Industry Act, 1999 (“the Act”).  As a result of discussions held between the management of Cavitation and the Commission it has been agreed that Cavitation will withdraw the offering and reissue it in accordance with the Laws of The Bahamas.

Members of the public are hereby advised that Cavitation will not be accepting subscriptions in respect of previously offered shares and any information released in respect thereof ought to be disregarded.

Should members of the public have any questions, please direct them to Ms. Mechelle Martinborough, Legal Counsel and Secretary of the Securities Commission of The Bahamas at telephone number 356-6291/2 or in writing to P.O. Box N-8347, Nassau, The Bahamas.

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