Boralex Welcomes a New Director

Montréal, January 16th 2003 - Boralex inc. (the "Corporation"), is proud to welcome Mr. Pierre Seccareccia, FCA, Adm. A, as an independent Director of the Corporation. As of January 6th 2003. In addition, Mr. Seccareccia will be member of the Audit and Corporate Governance Committees.

Mr. Seccareccia began his career in 1964 in accounting, statutory auditing as well as a consultant for mergers, acquisitions and financing of corporations. He successively occupied various management functions namely as a partner with the responsibility for business development at Coopers & Lybrand, which merged in 1998, and became known as PricewaterhouseCoopers. Since July 2002, he has focused his career towards the administration and management of corporations.

Boralex is confident that Mr. Seccareccia with his expertise in Auditing, Accounting and Corporate Governance will become a major asset for the Corporation and for its future growth.

Boralex operates 12 power stations from wood-residue, natural gas, hydroelectricity and wind in Quebec, the United States and in France. Also, Boralex Power Income Fund, which is managed by Boralex and in which Boralex holds an important position, operates eight power stations in Quebec from the same sources of fuel. Together, these two entities have nearly 230 employees and have a total installed capacity of 360 MW. Boralex's stock trades on the Toronto Stock Exchange under the ticker symbol BLX.A and Boralex Power Income Fund's stock trades under the ticker symbol BPT.UN.

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For further information, please contact:

Mr. Jacques Gauthier
President and Chief Executive Officer
Boralex Inc.
Telephone: (514) 282-2634
Fax: (514) 284-9895
E-mail: jgauthier@cascades.com

Mr. Bernard Lemaire
Executive Chairman of the Board
Boralex Inc.
Telephone: (819) 363-5111