ADVISORY

First Quarter 2004 Results

Montréal, May 7, 2004 – (TSX: BPT.UN) Boralex Power Income Fund (the “Fund”) announces that a conference call for financial analysts, to present its first quarter 2004 results, will be held on Tuesday, May 11, 2004 at 3:00 p.m. (EDT).

Financial analysts are invited to participate in the call by dialing 514-985-8001 or 1-800-243-1012. The media and other interested individuals can listen live. A recording of the conference call will be available until May 18, 2004, by dialing 1-416-626-4100 or 1-800-558-5253, access code: 21195403.

The first quarter 2004 results will be released on May 10, 2004.

Boralex Power Income Fund is an unincorporated open-ended trust that indirectly owns ten power generating stations located in the province of Québec and the United States producing energy from different sources including wood-residue or natural gas-fired thermal and cogenerating facilities as well as hydroelectric power stations. In total, these power stations have an installed capacity of 190.0 MW. The Fund’s units are listed for trading on The Toronto Stock Exchange under the symbol BPT.UN.

For further information, please contact:

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