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Borealis Corporate Press Release Dated 26 December 2000

Key Words: Borealis, Borealis Exploration Limited, Power Chips plc, Cool Chips plc, Chorus Motors plc, Roche Bay Mining Company Limited, Pennaluna, Pink Sheets

Borealis Exploration Limited
Gibraltar
26 December 2000

Borealis Exploration Limited (BOREF), is pleased to announce that its shares are now listed on the Pink Sheets in the United States. Pennaluna & Company (www.pennaluna.com) arranged the Pink Sheet listing and is expected to be our principal market maker in the United States.

“The Pink Sheets are the perfect US trading venue for Borealis,” said Dr. Rodney T. Cox, Borealis’ CEO. “It is a highly transparent system, with liquidity. The Pink Sheets quote hundreds of other non-US companies, including some of the world’s most prestigious corporations. We think that this should be the best trading solution Borealis has had in its over 31 years as a publicly traded corporation.”

Current quotes can be found at http://www.borealis.com/index_quote.htm

Quoting from www.pinksheets.com: “The Pink Sheets’ Electronic Quotation Service is not an exchange, but a cutting-edge nexus in which competitive market makers display real-time prices and potential liquidity in thousands of domestic equities, Level I ADRs and foreign ordinaries. Pink Sheets offers the same transparency and the same market makers as Nasdaq and the OTC Bulletin Board for companies that are unable or choose not to list their securities on Nasdaq or an exchange.”

“Available at no cost to issuers, the Electronic Quotation Service allows real-time quotations from competing OTC market makers thus facilitating a more liquid and transparent OTC market for your securities, and paves the way for a better, deeper, more efficient OTC marketplace.”

Borealis Exploration Limited has 5,000,000 shares outstanding. Borealis’ business is reinventing the core technologies used by basic industries, including electric motors, steelmaking, electrical power generation, and cooling and refrigeration along with ownership of a multi-billion tonne deposit of iron ore.

Operating companies in the Borealis Family of Companies include Chorus Motors plc (www.chorusmotors.com), Power Chips plc (www.powerchips.gi), Cool Chips plc (www.coolchips.com), and Roche Bay Mining Company Limited (www.rochebay.com).

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


Last Updated on Thursday, February 22, 2001.


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Forward-Looking Statement may be found at http://www.borealis.gi/fwdlook.shtml