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Environmental Impact Report Issued For Cadiz Valley Water Project

Cadiz Inc.(NASDAQ: CDZI) is pleased to announce two new developments related to the Company’s Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”), including the issuance of the Project’s Draft Environmental Impact Report (“EIR”) and the addition of California Water Service Company, the third largest water utility in the U.S., as a Project Participant. The Project proposes to provide a new, reliable water supply to Southern California communities by capturing and conserving thousands of acre-feet of native groundwater that will otherwise be lost to evaporation from the aquifer system beneath the Company’s property in California’s Mojave Desert.

About the Draft EIR

The Draft EIR, which provides a detailed Project description and examines the potential for environmental impacts, was published for public review on December 5, 2011 by the Santa Margarita Water District (“SMWD”). SMWD is the second largest water retail agency in Orange County, a Project Participant and the Lead Agency for the Project’s California Environmental Quality Act (“CEQA”) review and permitting process. The Draft EIR is available at http://www.smwd.com/operations/cadiz-project-draft-eir.html.

A key component of the Project’s environmental review and permitting process, the Draft EIR was compiled following more than two years of significant technical analysis and field survey of environmental resources at the Project area, including critical resources of the desert environment such as vegetation, mountain springs, and water and air quality. The Draft EIR considered the peer-reviewed technical reports, as well as independently collected data, existing reports and a new state of the art Groundwater Management, Monitoring and Mitigation Plan (GMMMP) to complete its analysis of the Project. The Draft EIR summarizes that, with the exception of unavoidable short-term construction emissions, by implementing the measures developed in the GMMMP, the Project will avoid any significant impacts to desert resources.

“An extraordinary amount of technical work has been undertaken by countless professionals and we are grateful for the careful evaluation that has led to the completion of the DEIR,” said Scott Slater, President and General Counsel of Cadiz Inc. “We look forward to the next phase of the process and demonstrating our commitment to implementing the Project in an environmentally-responsible manner.”

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