LONDON, May 17, 2004 /PRNewswire-FirstCall via COMTEX/ -- iCurie Lab Holdings,Ltd. announced today that its patented iCurie Cooled(TM) nano-technology coolingsystem, which may become the new standard in cooling for the electronicsindustry, has passed performance testing and received certification from LG Electronics, Inc. (KOREA: 066570), one of the top five manufacturers in the
world of OEM PCs.

The successful completion of the certification process has paved the way for
commercialization of iCurie's patented micro coolers. iCurie's patented self
circulating cooling module is scheduled to replace bulky, noisy and battery
draining cooling systems in today's notebook and tablet computers with thinner,
smaller, quieter and less power consuming coolers.

Dr. Ye Kim, Senior Engineer in charge of certification at LG Electronics, said,
"iCurie Lab's micro cooling system's natural fluid circulation technology has
dramatically reduced the size, noise, vibration and power consumption of the
cooler and the computer. iCurie's cooling system technology is able to achieve
high cooling efficiency that it is suitable as a cooling module for small mobile
devices including the tablet and next generation note PCs, PDAs and hand phones
and has a powerful competitive edge as the next generation cooling system."

The patented iCurie technology provides the basis for a quantum leap forward in
one of the greatest barriers to ever-increasing computer processing speeds --
heat. The iCurie solution is unique in that its microchannels act like pumps and
its micro thin structures dissipate heat to the environment more efficiently, up
to 400% greater than current methods. Due to its high heat dissipation, the
iCurie technology could eliminate noisy fans in some PCs and laptops altogether.

The firm has garnered global interest in its light-weight, power sipping
refrigeration system as a growing number of notable technology companies,
universities and government agencies have focused on the impending heat barrier
in electronics.

iCurie's Chief Executive, Dr. Jeong Hyun Lee, Ph.D., former NASA and Samsung
Engineer said, "The world has only recently begun to realize the importance of
cooling in electronics and the limitations of current cooling methods which not
only consume a significant amount of energy or use chemicals which could
endanger the environment but cannot cool altogether. As integration and clock
speed of computer processing units (CPUs) increased dramatically so has the
amount of heat generated. We are well positioned to satisfy the ever-increasing
demand for faster and more powerful PCs by allowing the electronic components
and/or systems to work faster by managing the heat more efficiently."

Hansen Gray & Company, Inc., is the lead venture capital firm backing iCurie.
Mark E. Gray, CEO of Hansen Gray commented, "As the leading outside investor in iCurie, we are pleased with their progress which is ahead of schedule against
their stated time frames for certification. It is our understanding that certification by a firm of LG's stature would pave the way for substantial, immediate commercialization under their pending order agreements."

Hansen Gray & Company, Inc., (OTC: HGCI) is an investment banking firm based in Atlanta, Georgia. The firm's area of investment specialization is primarily
lifesciences, alternative energy sources and emerging technologies. Additional
information on the firm is available at www.hansengray.com or by calling (770)
781-6500.

iCurie Lab Holdings, Ltd. is a U.K. holding corporation based in London,
England. Through its sister company iCurie Labs, Inc. in Seoul Korea it operates
a technology research and development laboratory specializing in next generation
cooling technologies. The company's technology has a wide array of cooling
applications in development including computer chips, cellular telephones,
automotive, refrigeration, heating and air conditioning and specialized defense
applications.

Additional information on iCurie and the technology is available
at www.icurie-lab.com

This press release contains forward-looking statements, involving risks and
uncertainties including statements regarding the Company's financial
performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual
results, events and performance to differ materially from those referred to or
implied by such statements. In addition, actual future results may differ
materially from those anticipated, depending on a variety of factors which
include, but are not limited to, our ability to leverage our technology, manage
our growth, protect our intellectual property rights, attract new customers and
general economic conditions affecting consumer spending, including uncertainties
relating to global political conditions, such as terrorism and the conflict with
Iraq. Information with respect to important factors that should be considered is
contained in the Company's Annual Report on Form 10-KSB as filed with the
Securities and Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. The Company does not intend to update any of the forward -looking
statements after the date of this release to conform these statements to actual
results or to changes in its expectations, except as may be required by law.

SOURCE Hansen Gray & Company, Inc.; iCurie Lab Holdings, Ltd.