Uniterre Resources Ltd.

Uniterre Resources Ltd.
NaiKun Wind Development Inc.

NaiKun Wind Development Inc.
Cape Wind Associates, LLC

May 02, 2005 14:08 ET

Offshore Wind Developers Sign Collaboration Agreement; Cape Wind and Nai Kun Wind Development Set to Explore Joint Procurement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: UNITERRE RESOURCES LTD.

TSX VENTURE SYMBOL: UNT

AND NAI KUN WIND DEVELOPMENT INC.

AND CAPE WIND ASSOCIATES, LLC

MAY 2, 2005 - 14:08 ET

Offshore Wind Developers Sign Collaboration Agreement;
Cape Wind and Nai Kun Wind Development Set to Explore
Joint Procurement

VANCOUVER, BRITISH COLUMBIA and BOSTON, MASSACHUSETTS--(CCNMatthews -
May 2, 2005) - Cape Wind Associates, LLC and Nai Kun Wind Development
Inc. announced today the formation of a collaboration agreement designed
to facilitate the development of two major North American offshore wind
energy projects.

Together Nai Kun and Cape Wind will comprise over 1100 mega watts of
generating capacity and are the leading offshore renewable energy
development projects in North America.

The collaboration agreement initially provides for joint procurement of
foundations, towers, turbines and blades for both projects. In addition,
inter-turbine cabling and under-sea transmission cabling will also be
procured jointly. The companies will pool skills and experience on other
aspects of the projects, such as maintenance regimes, marine service
vessels and best practices.

"We are delighted to work together with Nai Kun Wind Development, the
other major offshore wind development in North America," said Jim
Gordon, President of Cape Wind. "We feel certain the two projects will
compliment one another. The joint procurement effort and the pooling of
knowledge and experience should assure the lowest possible prices for
both projects and accelerate this important new renewable energy source."

"Both projects are at similar stages, in terms of permits and wind
studies," said Michael C. Burns, President of Nai Kun Wind Development.
"We expect both projects would be built in roughly the same time frame
and this collaboration agreement will facilitate the development and
procurement processes."

About Cape Wind LLC (www.capewind.org)

Cape Wind's proposal to build America's first offshore wind farm on
Horseshoe Shoal would provide three-quarters of the electricity used on
Cape Cod and the Islands from clean, renewable energy - reducing this
region's need to import oil, coal and gas. Cape Wind will create new
jobs, lower electric costs, contribute to a healthier environment,
increase energy independence and establish Massachusetts as a leader in
offshore wind power.

About Nai Kun Wind Development Inc. (www.naikun.ca)

Nai Kun Wind Development Inc. is the developer of the proposed 700MW Nai
Kun Wind Farm off the north coast of British Columbia. When fully
operational, up to 350 wind turbines will generate enough electricity to
power 240,000 homes. Expected to begin construction in 2007, the project
is currently raising development financing and undergoing environmental
review.

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