Polar Molecular Announces Annual Shareholders' Meeting

DENVER--Feb. 1, 20051, 2005--Polar Molecular Holding Corporation (OTCBB:POMH) today announced that its annual shareholders' meeting has been set for early June 2005.

"Early June 2005 is the earliest practical time that Polar will be able to hold its annual shareholders' meeting," said Rod Johnson, Polar's Chief Financial Officer. Johnson continued, "Once the audit is completed by our newly appointed independent accountants, Wheeler Wasoff P.C., and normal pre-annual meeting administrative matters finalized, the specific meeting date in June will be determined."

Mark Nelson, Polar's Chairman and CEO, commented, "2004 was a year in which the company's primary focus was to obtain the necessary financing to perform the company's business model and, therefore, entered into a financing agency with Dominick & Dominick Securities, Inc., a Toronto, Ontario, Canada based investment banking firm." After successful completion of the due diligence review of Polar, its technology and market position by Dominick at the end of 2004, a $5,000,000 private offering to institutional investors in Canada was recently commenced. Nelson stated further, "Another key objective attained in 2004 was the establishment of a joint venture in China, Taiwan and Hong Kong with top level Chinese business partners for the sale of Polar's proprietary fuel additive technology to targeted major oil companies in that region."

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.

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 has operated in Canada since 1929.

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.