Polar Molecular Announces Dominick & Dominick Securities, Inc. as Agent for $5 Million Financing

DENVER--Oct. 6, 2004--Polar Molecular Holding Corporation (OTCBB:POMH) today announced that Dominick & Dominick Securities, Inc., Toronto, Canada has agreed to act as Agent for a US $5,000,000 private equity financing on a best efforts basis.

Mark Nelson, Polar's President and CEO, commented, "We are pleased to be associated with Dominick & Dominick, a well respected underwriter. This round of financing, expected to close in November, 2004, will enable Polar to implement its business model and market strategy for sale of our patented DurAlt(R) fuel additive technology to the oil industry."

About Polar Molecular Holding Corporation

Polar Molecular Holding Corporation (www.polarmolecular.com) sells a proprietary line of fuel additives for gasoline, diesel and industrial heating oils under the trademarked name DurAlt(R) FC. The patented technology optimizes engine combustion, thereby improving fuel mileage and decreasing emissions.

About Dominick & Dominick Securities, Inc.

Dominick & Dominick Securities, Inc., an affiliate of Dominick & Dominick of New York is active in trading and financing a range of public and private companies and have operated in Canada since 1929.

This announcement is not an offer to sell securities nor a solicitation of an offer to buy securities of the company.

FORWARD LOOKING STATEMENTS

This news release contains forward looking statements that are not historical in nature and are based on current expectations and subject to risks and uncertainties. Although the management of the Company believes that the forward-looking statements are reasonable, the Company cannot assure you that such forward-looking statements will prove to have been correct. These statements involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. Actual financial condition, operating results, and business performance may differ materially from that projected. The differences may be caused by a variety of factors, including but not limited to failure to receive product orders, changes in general economic conditions, competition, equipment failures and business interruptions, government regulatory changes, changes in key personnel, lack of sources of additional financing, and other factors.