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Borealis Corporate Press Release Dated 26 December 2000

Borealis Technical Limited
7th December 1998


Borealis Technical Limited, a 99%-owned subsidiary of Borealis Exploration Limited (CDN:BSXC, BB-BOREF) today announced that Richard DeVos has been appointed Vice President of Engineering effective Friday 4th December.

Mr. DeVos will be taking a primary interest in developing Borealis' proprietary thermionic cooling and power generation technologies.

Mr. DeVos joins Borealis from Frigidaire Refrigerator Products where he has spent five years as Manager of Refrigeration Systems Engineering, responsible for all refrigeration systems design, and also Manager, Side by Side Engineering, with responsibility for the design of new refrigeration systems and related new technologies.

In addition to having directed Frigidaire's internal Research and Development, Mr. DeVos serves as a DARPA Project Technical Advisor and has served as a member of the ACRC Industrial Advisory Board.

"We are delighted to welcome Rick DeVos to Borealis" said Isaiah Cox, Borealis Technical's President and COO. "His expertise in the engineering and development of heat transfer systems is expected to play a pivotal role in the introduction of Borealis' cooling and power technologies into the marketplace."

Richard DeVos adds: "Basic material technology being developed by Borealis should improve heating and cooling product efficiency while reducing manufactured cost. In addition, other exciting spin-off technologies will result from low work function thermionic emission. It will be a pleasure to help escort breakthrough technology into the mature refrigeration industry"

Borealis Exploration Limited has 4,991,000 shares outstanding.

Chris Bourne,
Public Relations

Tel: +44 181 571 5216
Fax: +44 181 455 8701

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Last Updated on Thursday, February 22, 2001.

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