ool Chips™ promise an efficiency of up to 55% of the theoretical maximum for a perfect heat pump (known as Carnot Efficiency). This represents a large increase of efficiency over the best conventional cooling systems. A conventional refrigerator typically operates at between 30-45% of Carnot. Thermoelectric (Peltier) devices function at less than 8% of Carnot.

The potential energy savings of the Cool Chip over conventional compression systems are staggering -- totalling billions of dollars per year. There are further advantages to this system. A Cool Chip™ does not have moving parts that wear out. It does not require a compressor which, in large-scale applications, needs to be cooled because it becomes so hot. Nor does a Cool Chip require the use of environmentally harmful substances.

As concern grows about the potential atmospheric damage caused by CFCs and HCFCs, governments have responded with increasingly severe restrictions on their use. This makes the Cool Chip technology ideal for the next generation of refrigerators, air-conditioning machines and cold storage containers.

ool Chips plc common shares were cleared for trading in the United States by the National Association of Securities Dealers (NASD) on 24 April 2002 under the symbol COLCF. The Cool Chips technology work is managed out of Europe and we are a virtual company based in the European Union. Your Company is a member of the Borealis Family of Companies, and is incorporated in Gibraltar. As such, we are governed by Gibraltar law (essentially English law), and we use Gibraltar GAAP as our reporting standard.

Additional Corporate Information is available for Cool Chips plc. For information about our parent company, Borealis Exploration Limited, please visit their web site at http://www.borealis.gi

Cool Chips plc(COLCF) stock quotations may be found at the Silicon Investor and Bloomberg.

For more information on investing in Cool Chips plc, contact pr@coolchips.gi.