Bourgie Capital Inc. Acquires 8.8 Percent Interest in the Canam Manac Group.

SAINT-GEORGES, Quebec--(BUSINESS WIRE)--July 8, 1997--Placements CMI Inc. announces that Bourgie Capital Inc. has acquired, directly and indirectly, an 8.8 percent interest in the capital of The Canam Manac Group (TSE;ME CAM.A ).

The investment of 8.8 percent was acquired following the conversion of a debenture issued by Placements CMI Inc. in May 1996 and the purchase of a 30 percent interest in 3330354 Canada Inc., a corporation which holds 3,000,000 Canam Manac Group subordinate shares acquired on May 9, 1997 from Capital d'Amerique CDPQ Inc. The total consideration paid by Bourgie Capital is $14,000,000.

Following this transaction, Placements CMI Inc. of Ville de Saint-Georges, Quebec and Bourgie Capital Inc. hold 26.05 percent and 8.8 percent respectively, directly and indirectly, of the outstanding Class "A" common shares of Canam Manac Group, or 10,167,1111 and 3,432,889 shares, respectively.

During the past 14 months, Placements CMI Inc. has acquired 4,750,000 Class "A" shares of The Canam Manac Group Inc. held by Capital d'Amerique CDPQ Inc.

The Class "A" subordinate shares of The Canam Manac Group Inc. are listed on the Toronto and Montreal stock exchanges (CAM.A).

Information: Placements CMI Inc.

CONTACT: The Canam Manac Group Inc.

Jasmin Gosselin, 514/ 641-4000

[e-mail]

http://www.canammanac.com