Pictet Water Opportunities Fund assigns interest in convertible note of
E.S.I. Environmental Sensors Inc.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/

GENEVA, Switzerland, Feb. 17 /CNW Telbec/ - Pictet Water Opportunities Fund ("PWOF") announces that it has assigned all of its right and interest in and to a $1,260,000 principal amount secured convertible note (the "Note") issued by E.S.I. Environmental Sensors Inc. ("E.S.I.") to Avis Financial Corporation.

Following assignment of the Note, PWOF does not hold any securities of E.S.I. and has no present intention of acquiring beneficial ownership or control over any securities of E.S.I.

For further information: Pictet Asset Management SA, [phone]