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GeneProt Paid Waters $7.7M in Termination Fees

In its recently released 10-Q report for the quarter ended September 30, 2002, Waters said that in connection with GeneProt’s canceled order of up to $20 million in mass spectrometry equipment, related systems, and services, Waters received approximately $7.7 million from GeneProt as a termination fee. The company collected $2.5 million of this in June of this year. The remainder was a customer advance that Waters received in December 2001.