BOREALIS ANNOUNCES DOPED DIAMOND THERMIONIC PATENT

Cool Chips plc, Gibraltar, 26th April 2001

Cool Chips plc, a subsidiary of Borealis Exploration Limited (BOREF) announces that a patent, titled “Doped Diamond for Vacuum Diode Heat Pumps and Vacuum Diode Thermionic Generators” , No. 6,214,651, was issued by the United States Patent and Trademark Office on April 10th, 2001. Further patent applications related to Borealis' proprietary thermionic technologies are pending.

The patent disclosure includes the novel use of doped diamond as a surface for cathodes used in the construction of a vacuum diode heat pump or thermionic power generator.

“This patent extends our growing IP portfolio in this field” said Cool Chips plc President Isaiah Cox. “Cool Chips ™ represent a major advance in solid-state cooling technology, with the potential for competing against all current cooling technologies, both solid-state, and compressor-based.”

Cool Chips plc is a majority-owned subsidiary of Borealis Exploration Limited (BOREF). Borealis Exploration Limited has 5,000,000 shares outstanding.

For further information please contact:

Chris Bourne
Director of Public Relations
Tel: +44 20 8571 5216
Fax: +44 20 8455 8701
http://www.borealis.com
 email: pr@borealis.com

Disclaimer: The disclaimer can be found at http://www.borealis.com/ForwardLookingStatement.htm