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**TODAY'S NEWS on TMG**

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Wednesday, March 8, 2000 Thermal shares heating up By KEVIN BELL, Ottawa Sun Shares of Thermal Energy International of Ottawa doubled yesterday on unusually heavy trading, but company officials could offer no hint of what triggered the rally. +I just think the market is picking up on the fact that Thermal is undervalued,+ said chief executive Tom Hinke. The shares gained 75cents to close at $1.50 as 230,000 shares changed hands on the Canadian Venture Exchange in Vancouver. Over the last 90 days, Thermal Energy has traded between 38cents and 76cents on relatively thin volume. Hinke said investors may be finally picking up on a Feb. 23 news release indicating that a well-respected analyst, Stephen Atkinson, has been appointed to the board of directors. EXECUTIVE EXPERIENCE Atkinson, a managing director of Nesbitt Burns who has an extensive network of executive contacts, brings 20 years of experience in the pulp and paper industry, where key Thermal customers are, Hinke said. +It just took a while for the news to hit the market,+ he said. +He's a pretty solid guy.+ The chief executive also said investors may be realizing that Thermal Energy could benefit from the rapid rise in oil prices over the past six months. The company sells technology that allows customers to recover heat from the disposal of waste emissions. Last year, Thermal Energy formed an alliance with Honeywell Limited, which led to speculation the company may be taken over. Hinke said he's not entertaining any thoughts of being bought out.