Montréal (Québec), October 22, 2003 - Boralex Power Income Fund (the “Fund”) has today declared its monthly cash distribution in the amount of $0.0750 per trust unit. This amount represents an increase of approximately 3%, compared to previous monthly distributions, and takes into account the recent acquisition of the two hydroelectric power stations in the United States.

The distribution will be paid on November 21, 2003, to unitholders of record at the close of business on October 31, 2003.

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 close to 191.0 MW. The Fund’s units are listed for trading on The Toronto Stock Exchange under the symbol BPT.UN.