HUDSON TECHNOLOGIES, INC. REPORTS
FOURTH QUARTER AND YEAR END 1999 RESULTS

PEARL RIVER, New York – Hudson Technologies, Inc. (NASDAQ:HDSN), a leading refrigerant services company specializing in emergency recovery and decontamination services for large comfort and process cooling systems, today announced results for the fourth quarter and year ended December 31, 1999. 

Revenues for the fourth quarter ended December 31, 1999, were $2.8 million compared to $2.6 million for the comparable 1998 period. The 1998 period results included $258,000 of revenues from the Company’s former subsidiary Environmental Support Solutions (“ESS”). The Company reported a net loss of $1.5 million for 1999 – or $0.33 per share – compared to a net loss of $1.8 million – or $0.35 per share – for the comparable 1998 period. Despite the reduction in revenues due to the sale of ESS, the Company recognized an overall increase in revenues primarily attributed to an increase in refrigerant and on-site service revenues. 
“We are continuing to expand the breadth of our offerings and currently have three United States patents pending associated with our on-site services. During 1999, the Company opened six on-site service depots and can now provide on-site services from eleven different locations. The combination of new on-site services and new geographic locations should allow Hudson to continue to grow its on-site service business,” said Kevin Zugibe, the Company’s Chairman and Chief Executive Officer. 

Revenues for the year ended December 31, 1999, were $17.9 million, with a net loss of $3,955,000 – or $0.85 per share – compared with revenues of $23.3 million, and a net loss of $2,656,000 – or $0.52 per share – for the comparable 1998 period. During the year ended December 31, 1999, the Company experienced a decrease in overall refrigerant revenues, all of which occurred during the first six months of 1999, due primarily to a shortfall in the availability of certain refrigerants obtained for resale. However, during 1999 the Company achieved a 14 percent increase in its on-site service revenues over the comparable 1998 period. 

“The volatility of the refrigerant market, as seen in 1999, is a major reason for our focus on developing and expanding our on-site service capabilities,” said Mr. Zugibe.

The Company’s unique technology and specialty services are designed to remove impurities frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. These contaminants reduce performance, cause air conditioning system outages and interrupt production. Hudson’s decontamination system removes impurities rapidly and can be utilized while the client’s system continues to function, offering significant savings to customers. This technology has reduced system downtime by as much as 80 percent when compared with conventional repair methods. 

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 and other risks detailed in the Company’s other 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.

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

                                                                           Three month period                 For the year ended

                                                                                       ended December 31,             December 31,

	1999	1998	1999	1998
Revenues	$2,768	$2,633	$17,909	$23,311
Cost of sales	2,355	2,084	14,121	17,585
Gross Profit	413	549	3,788	5,726
Operating expenses:
Selling and marketing	545	417	1,823	1,744
General and administrative	912	1,509	4,223	5,176
Depreciation and amortization	350	345	1,349	1,195
Total operating expenses	1,807	2,271	7,395	8,115
Operating loss	(1,394)	(1,722)	(3,607)	(2,389)
Total other income (expense)	(149)	(61)	(348)	(267)
Loss before income taxes	(1,543)	(1,783)	(3,955)	(2,656)
Income taxes	-	-	-	-
Net loss	$ (1,543)	$(1,783)	$(3,955)	$(2,656)
_______________________________________
Net loss per common share – basic and diluted	$(0.33)	$(0.35)	$ (0.85)	$(0.52)
Weighted average number of shares outstanding	5,085,820	5,077,820	5,085,820	5,068,320

Brian Coleman, CFO Hudson Technologies, Inc. (845) 368-4990