Boron Chemicals Announces Appointment of New President, Selection of Engineering Contractor and Schedule Delay.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 23, 1997-- Boron Chemicals International Ltd. (VSE:BHI) ("Boron") is pleased to announce the appointment of Robert S. Cogliandro to the position of President of the Company.

He succeeds Richard Clark, who served as Interim President of Boron following the untimely death of Robert Oliverio on Nov. 25, 1996.

Prior to his appointment as President, Cogliandro was Vice President -- Sales & Marketing for Boron Chemicals. He holds a Bachelor of Science degree in economics from the Wharton School of the University of Pennsylvania and an MBA from Columbia University in finance and international business.

Prior to joining Boron in 1995, Cogliandro was Executive Vice President of Mical Specialty Chemicals, Inc., a subsidiary of Mitsubishi International Corporation specializing in the marketing of crude iodine. From 1988 to 1994, he was President and Chief Executive Officer of Calabrian Corporation, a specialty chemical manufacturer and distributor active in the United States and Latin America.

Cogliandro brings over 20 years of diversified chemical industry experience to Boron. He has particular expertise in the marketing and distribution of crude iodine, having worked closely over much of that period with the largest Japanese manufacturer, Ise Chemical Company, and its Japanese trading partner Mitsubishi Corporation.

Boron is also pleased to announce the selection of Bateman/Parsons, a joint venture of Bateman Project Holdings Ltd. and The Parsons Corporation, to conduct and complete Phase 1 -- Basic Engineering for Boron's Aguas Blancas project. At completion, Aguas Blancas is scheduled to annually produce 1,000 metric tons of crude iodine, 150,000 metric tons of sodium sulfate, and 70,000 metric tons of potassium nitrate, with a planned start-up in late 1998.

Bateman has been involved in pre-production studies for the development of the Aguas Blancas property since 1988, and together with Parsons brings extensive processing and construction experience to the development of Aguas Blancas. The basic engineering program is expected to be completed in 18 weeks.

The selection of Bateman/Parsons marks a significant step forward in the schedule to bring Aguas Blancas into production. Following completion of basic engineering, Boron expects to finalize contracts for the construction of Aguas Blancas facilities, with solar pond construction beginning by mid-year.

Due to the death of Robert Oliverio and the subsequent management reorganization, the Aguas Blancas project has fallen three to six months behind its previously anticipated schedule. In view of the delay, finalization of the limited-recourse debt facility arranged by ABN AMRO Bank N.V. has also been delayed. In conjunction with the engineering award, technical due diligence for the loan facility will not be completed until the second quarter.

Boron now anticipates that final negotiations will continue through the second quarter, with a targeted closing by June 30, 1997. -0-

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CONTACT: Boron Chemicals International Ltd.

Sophia Shane, 604/689-7842