Bob Carman to Lead Aerospace Development Programs for Chorus Motors Plc

GIBRALTAR--Nov. 1, 20037, 2003--Chorus Motors plc said today that Dr. Robert L. Carman Jr. has joined the company as Program Manager for Aerospace Applications. Dr. Carman has also been appointed to the same position at Cool Chips plc and Power Chips plc; all three companies are majority-owned subsidiaries of Borealis Exploration Limited.

Dr. Carman, formerly of the Boeing Company's Rockwell International Aerospace sector, spent 18 years as a program manager within the rocket engine, launch vehicle and satellite areas. He is also internationally known for his original work in lasers and nonlinear optics, and, more recently, for his pioneering work on virtual corporations, in conjunction with DARPA and various aerospace industry organisations.

His prior experience includes senior research and program management positions at the University of California's Los Alamos National Laboratory, the Lawrence Livermore National Laboratory, and the Massachusetts Institute of Technology's Lincoln Laboratory.

Dr. Carman has published more than 80 original, refereed journal publications, authored several patents and contributed to more than eight books, lectured in ten countries and consulted for the U.S. government in several capacities as well as acted as a consultant and advisor for many Fortune 500 U.S. companies. His Ph.D. is in Physics from Harvard University.

Dr. Carman said: "The technology developed by Borealis will be transformative throughout the aerospace world. Its adoption and implementation is now my job, which I am looking forward to with great relish."

Dr. Rodney T. Cox, CEO of the Borealis family of companies, said: "Bob Carman is a man who delivers. He knows the industry and he knows the impact of the science at a real-world level of sales and profits for our various operating companies. Chorus Motors plc (CHOMF) will be the first company in our family of companies to receive Dr. Carman's full attention. We are thrilled to have Bob Carman join our family of companies."

The Borealis Family of Companies includes:

Chorus Motors plc (CHOMF) has developed the proprietary Chorus (R) and Meshcon(TM) electric motor technologies which offer substantial cost and performance improvements over comparable motor and drive systems. The Chorus Motor system produces high torque at startup speeds and is ideal for traction applications such as automobiles, trucks, locomotives, and ships. Its advantages enable several potentially innovative applications in aerospace. A business plan can be obtained at http://www.chorusmotors.gi/BusinessPlan.shtml

Cool Chips plc (COLCF) and Power Chips plc (PWCHF) are developing proprietary quantum mechanical tunnelling technologies for cooling and power generation applications. Cool Chips and Power Chips are projected to produce cooling and electric power, respectively, more efficiently and less expensively than existing or emerging technologies. Business plans can be obtained at http://www.coolchips.gi/BusinessPlan.shtml and http://www.powerchips.gi/BusinessPlan.shtml

Borealis is a research and development company founded in 1968 and based in Gibraltar in the European Union. Borealis' business is reinventing the core technologies used by basic industries, including electric motors, steelmaking, electrical power generation, and cooling and refrigeration. For more information and forward looking statements please visit its web site at www.borealis.gi.

Chorus is a registered trademark of Borealis Technical Incorporated.