LOS ANGELES--(BUSINESS WIRE)--April 25, 2006--Falcon Waterfree Technologies, manufacturer of the world's most widely installed waterfree urinals, today announced that Capricorn Management, the investment arm of Jeff Skoll, eBay's first fulltime employee and first president, has completed a major investment resulting in a 25% stake in the privately held company.

"This is an outstanding development that will speed us toward our goal of saving a tremendous amount of the Earth's water. We welcome Jeff and Capricorn Management to our team because they have a stellar record of selecting and backing organizations that really make a difference in the world in which we live," said Marc Nathanson, cable television entrepreneur and Chairman of Falcon Waterfree.

"For healthy communities to flourish, environmental sustainability is a necessity and not an option. Less than one percent of the earth's water is available and usable for human consumption, so we are actually using and reusing a very limited resource that has no substitute. Falcon Waterfree has an absolute focus on water conservation, and a proven solution that the world is ready for. This investment marries ecological sustainability with sound economics, the combination we get most excited about," says Ion Yadigaroglu, a managing principal of Capricorn.

According to James Krug, President and CEO of Falcon Waterfree, "Falcon has quickly risen to the number one global position in waterfree urinals, and this is due to our vision, capabilities, and an obvious need in the market. Capricorn's investment takes our strategic potential to a whole new level."

About Capricorn Management

Capricorn is the investment arm of Jeff Skoll, who in 1996 became the first president and first fulltime employee of eBay. Mr. Skoll is also the founder of the Skoll Foundation, whose mission is to advance systematic change to benefit communities around the world by investing in, connecting, and celebrating social entrepreneurs; and founder and CEO of Participant Productions, which in 2005 produced the films "Good Night, and Good Luck," "North Country," "Syriana," and "Murderball," which were nominated for a combined 11 Academy Awards(TM).

About Falcon Waterfree Technologies

Falcon Waterfree Technologies has offices and partner operations in 32 countries, and is the most popular and widely installed waterfree urinal brand. The company was formed to promote conservation of the Earth's limited supply of fresh water and support sustainable resource management.

Falcon Waterfree has attracted the attention, support, and leadership of several notable people who serve on the advisory board. These leaders include Al Gore (former United States Vice President), Richard Riordan (former Los Angeles mayor), Ron Gastelum (retired President and CEO of the Metropolitan Water District of Southern California) retired Army Lieutenant General Donald Rosenblum Carl Covitz (owner and president of Landmark Capital), Robert Ship (Chairman of Ultra Pro LP), and Michael Solomon (Chairman and CEO of Solomon & Associates), Flush-style urinals use an average of 40,000 gallons of fresh water per year in typical commercial facilities, and 100% of this water is saved with Falcon Waterfree urinals. Studies from leading universities and government agencies prove that Falcon's urinals are significantly more hygienic than traditional flush urinals.

Maintenance costs are also dramatically reduced. Falcon Waterfree urinals are in use around the world in stadiums and arenas such as the Rose Bowl Stadium in Pasadena, California, airports such as Heathrow in London, landmarks such as the Taj Mahal in India, and many types of commercial and institutional facilities saving billions of gallons of water each year. More information on Falcon products can be obtained at www.falconwaterfree.com or 866.275.3718 (toll-free).

Images of Falcon Waterfree products can be downloaded from the following web page:
http://www.falconwaterfree.com/press/images.htm

Copyright Business Wire 2006

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