Boralex inc. – announces the departure of its Vice President and Chief Financial Officer

Montréal (Québec), May 27, 2003 – Boralex Inc. (the " Corporation ") announces the departure of its Vice-President and Chief Financial Officer, Mr. Germain Lecours effective immediately. The Corporation expects to confirm its new Vice President and Chief Financial Officer by the end of June 2003. Until then, Mr. Nicolas Fontaine, Boralex’s Financial Director will handle financial matters under the supervision of Mr. Jacques Gauthier, President and Chief Executive officer.

- 30 -

For further information, please contact:

Mr. Jacques Gauthier
President and Chief Executive Officer
Boralex inc.
Telephone : (514) 282-2634
Fax: (514) 284-9895

Mr. Jean Pierre Archambault
Legal Counsel and secretary
Boralex inc.
Telephone : (514) 282-2634
Fax : (514) 284-9895