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Borealis Technical Signs IP Deal 21 December 1998

Borealis Technical Limited
Gibraltar

December 21, 1998

BOREALIS TECHNICAL SIGNS IP DEAL

Borealis Technical Limited, a 99%-owned subsidiary of Borealis Exploration Limited (CDN:BSXC, BB-BOREF) has entered into a strategic partnership with an unnamed company concerning the Borealis Refrigeration and related technologies.

Under the agreement Borealis Technical Limited has agreed to grant limited intellectual property rights in return for devices fabricated to specifications provided by Borealis.

Borealis Exploration Limited has 4,986,000 shares outstanding.

For further information contact:

Chris Bourne,
Director,
Public Relations

Tel: +44 181 571 5216
Fax: +44 181 455 8701
email: pr@borealis.com
http://www.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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