iCurie Appoints Michael Karpheden Chief Financial Officer

Sep 22, 2004, 01:00 ET from iCurie Lab Holdings, Ltd.

    LONDON, Sept. 22 /PRNewswire-FirstCall/ -- iCurie Lab Holdings, Ltd.,
 parent company of iCurie Labs, Inc., a rapidly-growing nano-technology
 company, announced today that it has named Michael Karpheden as Chief
 Financial Officer.
     Michael Karpheden has over 14 years of financial leadership and
 international experience in the United States and Europe, including serving as
 Chief Financial Officer of LM Ericsson, the largest supplier of mobile systems
 in the world.
     Hakan Wretsell, Chief Executive Officer of iCurie Lab Holdings, Ltd. said,
 "I've had the opportunity to work closely with Michael Karpheden for many
 years and I am delighted to have him on the management team of iCurie.  With a
 successful track record in both the international and domestic arenas, as well
 as years of strategic financial and managerial experience, he is uniquely
 suited to this position as we move forward in establishing iCurie as the
 premier technology for a multitude of chip cooling applications."
     Mr. Karpheden's eleven-year career with Ericsson of North and Latin
 America included serving as Acting President responsible for all company
 activities including business development and strategies, and sales and
 marketing.  As Chief Financial Officer, Mr. Karpheden established the
 Company's finance department and also served as Director of Finance and
 Logistics, managing all aspects of finance and accounting for Ericsson of
 North and Latin America, including 10 U.S. subsidiaries and operations in
 Mexico and South America.
     "I'm very excited to join iCurie as CFO and to be working closely again
 with Hakan Wretsell.  The demand for a technologically advanced, more
 efficient cooling system has never been greater, and iCurie is well positioned
 to capitalize on this opportunity.  I look forward to being part of the team
 that supports iCurie in establishing a dominant industry position as it brings
 its unique cooling system to market," said Michael Karpheden.
     Prior to joining iCurie, Mr. Karpheden most recently served as Chief
 Operating Officer for STRAX Inc., a Miami, Florida-based manufacturer and
 supplier of mobile phones and accessories.  In his tenure with STRAX, he
 successfully negotiated sales contracts with such industry leaders as AT&T,
 Telefonica Spain and Kmart and restructured overseas operations in London and
 Hong Kong.
     Mr. Karpheden is currently a Managing Partner with Business Growth
 Consultants, a U.S. and Sweden-based company he co-founded to provide senior
 level consulting services to public and private companies.  Additionally, he
 serves on the advisory board of Hansen Gray & Company, the lead venture
 capital firm backing iCurie.
     Hansen Gray & Company CEO Mark E. Gray added, "Bringing Michael Karpheden
 on board reflects iCurie's commitment to building a management team with the
 experience and track record to move the Company to the next level in
 commercializing its unique and exciting technology."
     iCurie recently announced a manufacturing partnership agreement with
 Taiwan-based AVC (Asia Vital Components Co., Ltd.) the world's largest
 supplier of CPU (Computer Processing Units) cooling systems.
     In May, iCurie Lab Holdings, Ltd. announced that its patented iCurie
 Cooled(TM) nano-technology cooling system, had passed performance testing and
 received certification from LG Electronics, Inc. (KOREA:066570), one of the
 top five manufacturers in the world of OEM PCs.
     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 .
     Hansen Gray & Company, Inc., (OTC: HGCP) is a publicly-traded venture
 capital firm based in Atlanta, Georgia. The firm's management has substantial
 experience in all areas of investment banking, specializing in mergers and
 acquisitions, with an emphasis on emerging technologies including nano-tech.
 The firm has completed a series of strategic investments and acquisitions in
 2004, including acquisitions such as CyberQuest, which is engaged in VR and 3D
 imaging and a 45% investment stake in iCurie, which is engaged in nano-scale
 cooling for semiconductors.  Through ownership of Hansen Gray's shares, the
 public may participate in ownership of the firm's growing portfolio of private
 equity investments, such as CyberQuest and iCurie.  Additional information on
 the firm is available at or by calling
 (678) 542-2000.
     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 iCurie Lab Holdings, Ltd.