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BOREF, COLCF, CHOMF & Power Chips Press Release Dated 22 Sept 2003

Refers to BOREF, COLCF, CHOMF, Power Chips plc.

Borealis Family of Companies to be represented by Antonio Garrigues Walker, President of Garrigues, Abogados y Asesores Tributarios

Gibraltar 22nd September 2003

Borealis Exploration Limited (BOREF) is pleased to announce that Antonio Garrigues Walker, President of the Spanish law firm Garrigues, Abogados y Asesores Tributarios, has agreed to represent the Borealis family of companies on matters concerning their European interests.

Garrigues is among Europe’s largest legal firms, with 122 partners in a team of 1170 lawyers, specialising in commercial, international and EU law.   It has offices throughout Spain, as well as in New York and Brussels.

Morris J Pinto, Senior Corporate Financial Advisor to Borealis Exploration Limited, said: “As Borealis increasingly engages with European industry, so it requires the finest legal representation.   Under the direction of Antonio Garrigues Walker, Garrigues Abogados provides the highest quality of advice, and I have complete confidence that our interests will be safe in his hands.”

Borealis Exploration Limited has also selected investment bank Socios Financieros, S.A., represented by senior partner Guillermo Wakonigg, to assist and advise in sundry matters arising out of the company’s European activities, including fund-raising and investment activities.

Borealis Exploration Limited (BOREF) is a scientific research and development company inventing fundamental new technologies for basic industries, and operating through several subsidiaries.   Chorus Motors plc (CHOMF), which can be found at, has developed the Chorus Motor®, a significantly improved electric motor that provides much higher torque at lower cost for traction applications such as electric vehicles.   Cool Chips plc (COLCF), found on the web at, has developed the Cool Chip™, a wafer-thin quantum tunneling device that pumps heat to produce cooling or refrigeration more efficiently than any existing technology.   Its sister company, Power Chips plc, located at, has developed the Power Chip™, a similar quantum tunneling device that produces electrical power more efficiently and at lower cost than does any other existing or emerging technology.   Borealis and its subsidiary companies are incorporated in Gibraltar.   Information about the parent company is available at .

For more information, contact:

Chris Bourne
Head of Public Relations, the Borealis Family of Companies
+44 (0)2 8571 5216

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