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CAMPEAU CORPORATION CALLS SPECIAL MEETINGS

 CAMPEAU CORPORATION CALLS SPECIAL MEETINGS
 TORONTO, Dec. 23 /PRNewswire/ -- Campeau Corporation today announced


that it has mailed a management information circular and notices of special meetings to its shareholders and creditors to consider the previously disclosed plan of arrangement.
 The meetings will be held in Toronto on Jan. 28, 1992, pursuant to an interim order, as amended, by the Ontario Court of Justice (General Division). The corporation has proposed a financial restructuring under the provisions of the Ontario Business Corporations Act and the Companies' Creditors Arrangement Act.
 The proposed arrangement provides for the exchange of outstanding ordinary and preference shares, debentures and unsecured debt for new common shares of the corporation, which will be renamed Camdev Corporation. To become effective, the plan must be approved at meetings that day by a two-thirds majority of the ordinary and preference shares, voting in separate classes, and by secured and unsecured creditors at various approval levels directed by the court. The arrangement cannot become effective before proposed plans of reorganization of various subsidiaries in the United States are effective and before final approval is granted by the Ontario Court of Justice (General Division).
 The meetings on Jan. 28 will take place at the Westin Harbour Castle Hotel according to the following schedule:
 Class Room Time
 Ordinary Shareholders Metropolitan Room West 10:00 a.m.
 Series B, C, D and
 Convertible
 Subordinated Preference Frontenac Ballroom 11:30 a.m.
 Shareholders
 Secured Debtholders Queen's Quay 1 Room 1:00 p.m.
 7 per cent Subordinated
 Convertible Wellington Room 1:30 p.m.
 Debentures
 7.5 per cent Convertible
 Subordinated Metropolitan Room West 2:00 p.m.
 Debentures Series A
 Senior Unsecured Debt Queen's Quay 1 Room 3:30 p.m.
 -0- 12/23/91
 /CONTACT: J. Patrick Howe of Campeau, 416-594-1600/
 (CMP.) CO: Campeau Corporation ST: Ontario IN: REA SU:


KD -- NY085 -- 4988 12/23/91 17:09 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Dec 23, 1991
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