Cadiz Inc., Annual General Meeting, Dec 14, 2009, at 11:00 US Pacific Time. Location: 2029 Century Park East, 6th Floor, Los Angeles, CA 90067, United States. Agenda: To approve the election of eight members of the board of directors, each to serve until the next annual meeting of stockholders or until their respective successors shall have been elected and qualified; to ratify the selection by the audit committee of board of directors of PricewaterhouseCoopers LLP as Cadiz' independent certified public accountants for fiscal year 2009; to approve Cadiz' 2009 Equity Incentive Plan; and to transact such other business as may properly come before the meeting and any adjournments thereof.

Cadiz Inc. announced that it has executed Letters of Intent (LOI) with a broad collection of Southern California water providers to develop a cost-sharing agreement, finalize terms of pricing design and capital allocation and work towards implementation of its water conservation and storage project. These providers together serve more than 3 million water customers across the region. Signing the LOIs are four public municipal water agencies and Golden State Water Company. These providers serve customers in California's San Bernardino, Riverside, Los Angeles, Orange and Ventura Counties. The Company expects to add additional participants for other aspects of the project. Specifically, Cadiz and the interested water providers have agreed to undertake a mutual project evaluation and seek an agreement identifying and apportioning expected environmental review costs, including the preparation and submittal of a Project description for review under the California Environmental Quality Act (CEQA). The environmental review process is expected to begin shortly following the submittal of the Project description. Under the LOIs, water purchase options will tentatively be made available to participants on a 50-year term based on the cost of comparable alternative sources of supply. Participants will be subject to fees for administration, management and maintenance of storage, puts and takes, and power costs. Discounts will be provided to participants meeting agreed-upon environmental stewardship objectives.

On June 4, 2009, Cadiz Inc. completed arrangements to amend its senior debt facility with LC Capital Master Fund Ltd. and other participating lenders. Under the original terms of this financing arrangement, entered into in June 2006, the Lenders invested $36.375 million in a five year secured convertible loan with an interest rate of 5% per annum during the first three years and 6% per annum thereafter. The debt was convertible into Cadiz common stock at an average convert price of $21.50. The significant terms of the amendment are as follows:-Maturity date is extended from June 29, 2011, to June 29, 2013;-Interest will continue to accrue at 6% per annum through maturity;-The convert feature has been modified to allow up to $4.55 million of principal to be converted into 650,000 shares of Cadiz common stock and the remaining principal and interest to be converted into shares of Cadiz common stock at a conversion price of $35 per share. If fully converted at June 29, 2013, this would result in Cadiz common stock being issued at an average convert price of $26 per share; and the Company now has the right at any time to prepay the loan's outstanding principal plus all accrued interest in full at any time without penalty, and may at the same time prepay the Initial Convert Portion either in stock at a 110% conversion premium or, at the election of the lenders, in cash with an equal value (but not less than $4.55 million).