Mondial Announces 172-Suite Building Solar Hot Water Retrofit

11 Coatsworth Crescent, Toronto

PRESS RELEASE

Toronto, August 19, 2005

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 172-suite seniors’ residence located at 11 Coatsworth Ave. in Toronto, Canada.

Mondial will pay for, own and maintain a system of 88 flat plate solar thermal collectors with a total area of 176 square meters. The collectors are expected to displace 20,280 cubic meters of gas annually reducing Carbon Dioxide emissions by 40.3 tonnes annually. The emission reduction equates to 177.5 kg per occupant, representing almost 20% 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 Coatsworth Avenue 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/Senior Link. “Mondial has presented 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.”