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                                                                   Exhibit 10.45

May 26, 2003

Abel Castillo

Dear Abel,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 400 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 2,000 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart

Frederick W. McTaggart
President and COO<PAGE>
                                                                   Exhibit 10.46

May 26, 2003

Billy Banker

Dear Billy,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 315 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 1,575 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart

Frederick W. McTaggart
President and COO<PAGE>
                                                                   Exhibit 10.47

May 26, 2003

Chet Ritch

Dear Chet,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 194 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 970 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart
Frederick W. McTaggart
President and COO<PAGE>
                                                                   Exhibit 10.48

May 26, 2003

Dave Hooker

Dear David,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 146 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 730 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart
Frederick W. McTaggart
President and COO<PAGE>
                                                                   Exhibit 10.49

May 26, 2003

Elizabeth Triana

Dear Elizabeth,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 197 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 985 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart
Frederick W. McTaggart
President and COO<PAGE>
                                                                   Exhibit 10.50

May 26, 2003

Helverth Rodriguez

Dear Helverth,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 243 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 1,215 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart
Frederick W. McTaggart
President and COO<PAGE>
                                                                   Exhibit 10.51

May 26, 2003

Ivan Tabora

Dear Ivan,

RE:      EMPLOYEE SHARE INCENTIVE PLAN AND EMPLOYEE SHARE OPTION PLAN

In accordance with the Employee Share Incentive Plan ("the Preference Share
Plan"), you are hereby advised that the Grant Date is June 4, 2003 for benefits
you have accrued during the year ended 31 December 2002.

Accordingly you are granted 185 Preference Shares in the Company. You have the
option to purchase an equal number of Preference Shares at a price of CI$7.46
each, which has been calculated in accordance to the terms of the Preference
Share Plan. If you intend to exercise this option, then payment must be received
in full no later than the close of business on July 4, 2003.

As a member of the Employee Share Option Plan ("the Option Plan"), you will also
be granted, as of June 30, 2003, the option to purchase 925 Ordinary Shares in
the Company. These options are exercisable in accordance to the terms of the
Option Plan. You furthermore have the opportunity to obtain an equal amount of
options to purchase Ordinary Shares of the Company, in accordance to the terms
of the Option Plan, if you exercise your right to purchase the above additional
Preference Shares before June 30, 2003.

Your continued dedication and hard work have contributed to another successful
year for Consolidated Water, and I look forward to a very bright future.

Yours sincerely,

/s/ Frederick McTaggart
Frederick W. McTaggart
President and COO

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