Dominion Bridge Reports First Half Year Results for Subsidiary Mcconnell Dowell Corporation Limited.

MONTREAL--(BUSINESS WIRE)--Feb. 11, 1998--

Dominion Bridge Subsidiary Reports Record Pre-Tax Profits, Revenues

Dominion Bridge Corporation (NASDAQ/NMS: DBCO; VSE: DMO.U) announced today that its 63 percent-owned subsidiary McConnell Dowell Corporation, a major Asia Pacific engineering firm based in Australia, has reported an operating profit before tax of $12.616 million for the half year to Dec. 31, 1997, up 44 percent from $8.785 million for the corresponding period of the prior year. (All results are in Australian dollars.)

Revenue for the half year rose 17 percent, to $195.3 million, from $165.4 million for the corresponding period of the prior year.

The net profit after tax attributable to shareholders of the company is equivalent to 18.7 cents per share for the half year compared with 12.6 cents per share for the prior year corresponding period.

Work in hand at Dec. 31, 1997 was $352 million, compared with $273 million at June 30, 1997 and $268 million at Dec. 31, 1996.

The gains were achieved despite the need to provide for exchange losses of $2.1 million being (principally unrealized) losses suffered by Southeast Asian entities, offset by gains arising from contracts designated in U.S. dollars, the company said.

"Given the current economic problems in Southeast Asia, the directors are pleased to advise that the company's reliance on these markets has diminished with revenue at 34% of total compared with 58% a year ago. Over the same period, revenue from Australasian markets has grown to 64% of the total compared with 41% in 1996.

"Notwithstanding the present difficulties in Southeast Asia, the board remains cautiously optimistic about medium and long-term prospects in these traditional markets for those companies prepared to continue to operate much as normal. Any revenue shortfall that might arise in Southeast Asia for the corporation is likely to be replaced with additional work originating from the company's presence in Australasia, the Middle East and, in particular, Saudi Arabia and the Commonwealth of Independent States (former Soviet Union). The board and management are planning to expand its activities into potential new markets of South America and the Indian Subcontinent," the company concluded.

On the basis of this result and the full year forecasts, the directors have declared a fully franked interim dividend of 3 cents per share payable on March 13, 1998 to shareholders of record on March 6, 1998.

McConnell Dowell Corporation Ltd. is an Australian-based construction company offering specialist building, heavy civil, mechanical and pipeline construction services to a geographically diverse selection of quality clients. -0-

                      MCCONNELL DOWELL CORPORATION
                          FINANCIAL HIGHLIGHTS
                     A$000s unless otherwise shown


                           December 1997    December 1996(a)   Change

Sales Revenue                  $195,309         166,410         +17%

EBIT                             13,013           8,827         +47%

Net Interest                       (397)            (42)       +845%

Profit Before Tax                12,616           8,785         +44%

Taxation                          4,823           2,797         +72%

Net Profit After Tax              7,793           5,988         +30%

Earnings Per Share (cents)        18.74           14.40         +30%

Interim Dividend Per Share (cents)  3.0             Nil           --

Net Assets Per Share              $1.63           $1.38         +18%


     (a) Comparative amounts adjusted to include equity accounted
profit of $753,000.
-0-

This news release is neither approved nor disapproved by the Vancouver Stock Exchange.

CONTACT: Porter, LeVay & Rose, Inc.

L. B. Stauffer, SVP

[phone]

or

Dominion Bridge Corp., Montreal

Francois Morin

[phone]