Mondial Announces 108-Suite Two-Building Hot Water Retrofit

11 Main St. / 680 Kingston Rd., Toronto

PRESS RELEASE

October 25, 2005 Toronto - Mondial Energy Inc. is pleased to announce it has been retained by Neighbourhood Link Homes to generate renewable thermal energy for the domestic hot water needs at its 64-suite residence located at 11 Main Street and at its 44-suite residence at 680 Kingston Road in Toronto, Canada. The two buildings are joined by a common hot water heating system currently.

Mondial will pay for, own and maintain a system of 80 flat plate solar thermal collectors with a total area of 160 square meters. The collectors are expected to displace 18,600 cubic meters of gas annually reducing Carbon Dioxide emissions by 37 tonnes annually. The emission reduction equates to 221 kg per occupant, representing almost one-quarter of the Canadian Federal government’s One-Tonne challenge for the building’s residents.

Mondial will bill Neighbourhood Link Homes for the thermal energy delivered from the solar collectors. Mondial has priced the thermal energy to be a lower-cost alternative than using natural gas, and has committed to its contract price for a term of ten years.

“Mondial is delighted to be of service to Neighbourhood Link at their 11 Main Street – 680 Kingston Road location,” said Alex Winch, President, Mondial Energy.

“As a non-profit housing provider, we are constantly constrained by scarce capital and operating resources,” said Judith Leon, Executive Director, Neighbourhood Link. “Mondial has again met our needs, presenting us with an innovative energy solution which involves:

• no investment on our part,
• lower monthly operating costs,
• long-term price security and,
• environmental superiority over our existing water heating services.”

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