Glacier Water Services, Inc. (Amex: HOO) today announced that the Company's Board of Directors has authorized the Company to purchase up to an additional 250,000 shares of the Trust Preferred Securities (Amex: HOO_pa) issued by Glacier Water Trust I, a wholly owned subsidiary of the Company, in the open market as part of the Company's stock repurchase plan.

The Company's Board of Directors had previously authorized the repurchase of up to 750,000 shares of Glacier Water Services common stock, of which 598,026 shares have been repurchased by the Company and 1,000,000 shares of Glacier Water Trust Preferred Securities, of which 870,100 shares have been repurchased by the Company. With this current authorization, the Company has the authority to repurchase up to an additional 151,974 shares of Glacier Water Services common stock outstanding, or approximately 5.4% of Glacier's 2,840,174 common shares outstanding and the authority to repurchase up to an additional 379,900 shares of Glacier Water Trust Preferred Securities, or approximately 15.0% of Glacier's 2,529,900 shares outstanding. Such purchases may occur from time to time in open market transactions or block trades.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities.

With approximately 14,000 machines located throughout the United States, Glacier Water is the leading provider of high quality, low-priced drinking water dispensed to consumers through self-service vending machines located at supermarkets and other retail locations.

Statements in this announcement that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements with respect to the financial condition and results of operations of the Company involve risks and uncertainties which are detailed further in the filings of the Company with the Securities and Exchange Commission, including, but not limited to, the Company's Registration Statement on Form S-2, as amended, (File No. 333-40335) and its Annual Report on Form 10-K for the year ended January 2, 2000.