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Boralex Inc. -- increase in quarterly results.

KINGSEY FALLS, Ontario--(BUSINESS WIRE)--Nov. 25, 1996--Boralex Inc.(ME BLX.A.) Boralex Inc. announces for the quarter ended September 30, 1996, consolidated net earnings of $1,258,914 ($0.008 per share), compared to $152,899 ($0.001 per share) for the same period last year.

The quarter net earnings include non-recurring gains of $1,001,614 ($0.006 per share). Thus, net earnings before these gains are $257,300 ($0.002 per share). Consolidated cash flow from operations, for the quarter is $549,257 ($0.003 per share) compared to $398,687 ($0.003 per share) for the same period in 1995. Boralex's consolidated net sales for the last quarter amounted to $3,861,579 compared to $2,679,603 in 1995.

As a result of the reverse takeover transaction concluded on December 22, 1995, the audited consolidated results of Boralex Inc., as of September 30, 1996, include the nine months of operations since the date of the transaction and the 1995 comparative figures include the twelve month operations of Cascades Energie (1995) Inc. ended December 31, 1995.

For the nine month fiscal year ended September 30, 1996, consolidated sales were $12,250,933 and consolidated net earnings were $1,269,807 ($0.008 per share). Net earnings before non-recurring gains were $129,269 ($0.001 per share) and consolidated cash flow from operations amounted to $1,909,482 ($0.011 per share). For the twelve month fiscal year ended December 31, 1995, consolidated sales were $12,595,674. Consolidated net earnings were $343,505 ($0.002 per share) and consolidated cash flow from operations amounted to $2,522,498 ($0.018 per share).

 Quarter 9 month 12 month
 period period
 _______ _______ ________
 1996-09-30 1995-09-30 1996-09-30 1995-12-31
 __________ __________ __________ __________

Sales $3,861,579 $2,679,603 $12,250,933 $12,595,674

Net earnings $1,258,914 $152,899 $1,269,807 $343,505
 Per share $0.008 $0.001 $0.008 $0.002
Net earnings
 before
 non-recurring
 items $257,300 $152,899 $129,269 $343,505
 Per share $0.002 $0.001 $0.001 $0.002
Cash flow from
 operations $549,257 $398,687 $1,909,482 $2,522,498
 Per share $0.003 $0.003 $0.011 $0.018





CONTACT: Boralex Inc.

Mr. Jacques Gauthier, 514/282-2634

or

Boralex Inc.

Mr. Robert F. Hall, 819/363-5116
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Publication:Business Wire
Date:Nov 25, 1996
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