ADVISORY - Second Quarter 2004 Results

Montréal (Québec), May 17, 2004 - (TSX: BLX.A) Boralex Inc. (the “Corporation”) announces that a conference call for financial analysts, to present its second quarter 2004 results, will be held on Friday, May 21, 2004 at 10:00 a.m. (EDT).

Financial analysts are invited to participate in the call by dialing 514-985-7031 or 1-800-247-8085. The media and other interested individuals can listen live. A recording of the conference call will be available until May 28, 2004, by dialing 1-416-626-4100 or 1-800-558-5253, access code: 21196135.

The second quarter 2004 results will be released on May 20, 2004.

Boralex focus on four types of power generation: hydroelectric power, thermal or cogeneration power from natural gas or wood residue and wind power. These are all fields where Boralex has developed proven expertise and they are all centered on renewable energy. It employs more than 240 workers and owns seventeen power stations located in Québec, the United States and France, with an installed capacity of close to 240.0 MW, as well as an urban wood processing and recycling centre in Montréal. In addition, the Corporation holds a 23% interest in Boralex Power Income Fund which owns ten power stations in Québec and the United States with an installed capacity of close to 191.0 MW. Management of the Fund‘s assets is provided by Boralex. (www.boralex.com)

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