HUDSON TECHNOLOGIES REPORTS
SECOND QUARTER 2002 RESULTS

PEARL RIVER, N.Y. – August 13, 2002 – Hudson Technologies, Inc. (Nasdaq: HDSN), a leading refrigerant services company specializing in proprietary on-site decontamination services for large comfort and process cooling systems, today announced results for the second quarter and six month periods ended June 30, 2002. 

Revenues for the second quarter totaled $6,769,000 compared to $6,867,000 for the same period in 2001.  During the second quarter of 2002, the company reported net income of $133,000 and, after non-cash charges of $197,000 for payment-in-kind preferred stock dividends, a net loss per common share of $0.01.  This compares to net income of $217,000 for the second quarter of 2001 and, after non-cash charges of $187,000, net income per common share of $0.01.

Kevin J. Zugibe, chairman and chief executive officer, stated, “While revenues generated by Hudson’s ReferigerantSide® Services decreased slightly from last year’s second quarter, margins rose due to better management of labor and supply costs associated with the service business.  We are encouraged by this improvement although it was offset by a decrease in margins from the sale of refrigerants.  This decline in refrigerant sale margins, which affected the entire industry, was due to this year’s unusually cold spring, which shortened the sales season and decreased demand, particularly in the automotive sector.” 

Mr. Zugibe continued, “We are continuing our strategy to shift Hudson’s business focus from the sale of refrigerants toward the sale of RefrigerantSide® Services.  To that end, we have been making many improvements to the organization and composition of the company’s sales force.  These initiatives should enable us to reach out more effectively to potential customers across the U.S. and to strengthen Hudson’s position as a leading solution provider to our industry.

“As part of our efforts to expand Hudson’s RefrigerantSide® Services offering, we recently announced the launch of Chiller Chemistry™, an exciting and innovative testing program that offers a unique way to predict problems, prevent costly repairs and extend a system’s life.  Early response from our customers has been very positive.”

Six Months Results
Revenues for the six months ended June 30, 2002 totaled $12,880,000 compared to $11,897,000 for the same period in 2001. The company reported a net loss of $315,000 for the six months ended June 30, 2002 and, after non-cash charges of $349,000 for payment in-kind preferred stock dividends, a net loss per common share of $0.14.  This compares to a net loss of $554,000 and, after non-cash charges of $346,000, a net loss per common share of $0.18 for the first six months of 2001.

Separately, Hudson announced that Kevin Zugibe, chairman and chief executive officer, and Brian Coleman, president and chief operating officer, had, by certification letter to the SEC, affirmed the accuracy of Hudson’s Form 10-K report for 2001; Form 10-Q reports for the first and second quarters of 2002; the company’s 2002 proxy statement to shareholders and other recent filings.  This certification is in response to the requirements of the Sarbanes-Oxley Act of 2002.

Conference Call Information
Hudson Technologies will conduct a conference call on Tuesday, August 13th, at 10:00 a.m. Eastern Time to discuss second quarter 2002 results and additional matters.  The dial-in number for the call is 703-871-3022.  A replay of the call will also be available through Thursday, August 15, and can be accessed by dialing 703-925-2533, passcode #6136622. 

About Hudson Technologies
Hudson Technologies, Inc., is a leading provider of innovative solutions to recurring problems within the refrigeration industry.  Hudson’s proprietary RefrigerantSide® Services, which are provided through a nationwide network of service depots, increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems.  Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide® Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate.  In addition, the company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets.  For further information on Hudson, please visit the company’s web site at www.hudsontech.com.

Safe Harbor Statement under the Private Securities Litigation Act of 1995
Statements contained herein, which are not historical facts constitute forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, changes in the markets for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of refrigerants), regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements which become available to the company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing and other risks detailed in the company’s periodic reports filed with the Securities and Exchange Commission.  The words “believe”, “expect”, “anticipate”, “may”, “plan”, “should” and similar expressions identify forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

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  Hudson Technologies, Inc. and subsidiaries
  Consolidated Statements of Operations
  (unaudited)
  (Amounts in thousands, except for share and per share amounts)

                                                                                                   Three month period        Six month period
                                                                                                    ended June 30,                    ended June 30,