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                                                                    Exhibit 99.1

                         COMPENSATION COMMITTEE CHARTER
                                       OF
                          CONSOLIDATED WATER CO. LTD.



I.       COMPOSITION AND QUALIFICATIONS

         The Compensation Committee (the "Committee") of the Board of Directors
         (the "Board) of Consolidated Water Co. Ltd. (the "Company") shall be
         comprised of not less than three (3) members of the Board, each of whom
         is determined by the Board to be "independent" under the rules of the
         Nasdaq Stock Market, Inc. ("Nasdaq"). However, one (1) member of the
         Board may serve as a member of the Committee for a period of no longer
         than two (2) years who does not qualify as "independent" under Nasdaq
         Rule 4200 if the Board determines that such person's membership on the
         Committee is required in the best interest of the Company and its
         stockholders.

II.      APPOINTMENT AND REMOVAL

         The members of the Committee shall be appointed by the Board and shall
         serve until such member's successor is duly elected and qualified or
         until such member's earlier resignation or removal. A member of the
         Committee may be removed, with or without cause, by a majority vote of
         the Board.


III.     DUTIES

         The duties of the Committee are as follows:

         1.       Discharge the Board's responsibilities to the stockholders and
                  investment community relating to the compensation of the
                  Company's executive officers;

         2.       Review and approve corporate goals and objectives relevant to
                  the compensation of the Chief Executive Officer and other
                  executive officers;

         3.       Review and evaluate the performance of the Chief Executive
                  Officer and other executive officers and other key employees
                  of the Company in light of the goals and objectives of the
                  Company, and either as a committee or together with the other
                  independent directors (as directed by the Board) determine and
                  approve their annual compensation packages, including base
                  salaries, cash bonuses, stock options and other stock-based
                  incentives, based on these evaluation;



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         4.       Monitor the effectiveness of benefit plan offerings and
                  approve changes where appropriate;

         5.       Make an annual report on executive compensation in the
                  Company's annual proxy statement or annual report on Form 10-K
                  as required by the rules of the U.S. Securities and Exchange
                  Commission and other regulatory bodies;

         6.       Review and approve, or recommend to the full Board, its annual
                  retainer and compensation plans and equity-based plans in
                  which non-executive members of the Board are eligible to
                  participate;

         7.       Supervise and oversee the administration of the Company's
                  incentive compensation programs.

         8.       Review management proposals to;

                  A.       designate employees for incentive compensation
                           programs; and

                  B.       approve new benefit plans;

         9.       Report regularly to the Board;

                  A.       following meetings of the Committee;

                  B.       with respect to those matters that are relevant to
                           the Committee's discharge of its responsibilities;
                           and

                  C.       with respect to those recommendations that the
                           Committee may deem appropriate.

                  The report to the Board may take the form of an oral report by
                  the Chairman of the Committee or any other member of the
                  Committee designated by the Committee to make such report.

         10.      The Committee shall review and reassess periodically the
                  adequacy of this Charter and recommend to the Board any
                  improvements to this Charter that the Committee considers
                  necessary or valuable.


IV.      MEETINGS

         The Committee shall meet at such times as the Committee shall consider
         appropriate to fulfill its duties and responsibilities.




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V.       ADVISORS

         The Committee shall have the exclusive authority, at the expense of the
Company, to retain and terminate:

         1.       executive compensation consultants, including the fees and
                  other terms of their engagements, to advise on the evaluation
                  and compensation of the members of the Board, the Chief
                  Executive Office and other executive officers of the Company;
                  and

         2.       such outside counsel and other advisors as it deems
                  appropriate in its sole discretion.













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