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MORRISON KNUDSEN CORP. STOCKHOLDERS MEET; FOUR DIRECTORS REELECTED; 20-CENT DIVIDEND DECLARED

 BOISE, Idaho, April 23 /PRNewswire/ -- William J. Agee, chairman and chief executive officer of Morrison Knudsen Corp. (MK) (NYSE: MRN), reviewed the significant events of the past year with company stockholders at the 1993 annual meeting held today in Cleveland.
 Earlier this week, MK reported first-quarter net income of $7.9 million. During a meeting today prior to the annual meeting, MK directors declared a dividend of 20 cents per share, payable June 7 to stockholders of record May 5.
 "MK is successfully executing contracts under way and remains well positioned for the mid-'90s and beyond," said Agee. "Much of America's infrastructure and rail will be renovated in the 1990s, and MK will be at the forefront of that renovation."
 Agee has long been a proponent of high-speed rail corridors linking major metropolitan areas. Under the Clinton Administration, infrastructure rebuilding, including an emphasis on high-speed rail, is expected to receive high priority.
 Calling 1993 the start of an "era of achievement, growth and profit for MK," Agee noted that the company's Rail Systems Group, bolstered by nearly $780 million in new transit car orders during 1992, began this year with a record backlog of more than $1 billion.
 Agee said MK's leadership in the renaissance of rail in America will be highlighted Monday in Chicago when the first car manufactured at the company's new plant in Chicago will roll off the assembly line.
 That car will be the first of a 313-car, $380-million order received last year from Metra, the commuter line serving northeastern Illinois. Other major transit-car orders received by MK in 1992 include: a $155-million, 88-car order from the California Department of Transportation; a $140-million, 80-car order from the Bay Area Rapid Transit serving the San Francisco Bay area; and a $100-million, 50-car order from Amtrak.
 Another rail-transportation highlight during 1992 was the award to MK of a $295-million contract from Amtrak to design and construct a high-speed rail electrification system on Amtrak's line between Boston and New Haven, Conn.
 In other business, shareholders reelected four directors to serve three-year terms through 1996. Reelected were Harold W. Andersen, director and contributing editor, Omaha World-Herald Co.; John Arrillaga, partner in a commercial real estate development firm; Christopher B. Hemmeter, chairman and chief executive officer of the Hemmeter Corp.; and Robert A. McCabe, president of Pilot Capital Corp.
 Shareholders also ratified the selection of Deloitte & Touche as independent auditors for the company for 1993, and defeated stockholder proposals concerning executive compensation and director and officer severance benefits.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial process, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 4/23/93
 /CONTACT: Brent Brandon of Morrison Knudsen, 208-386-5387/
 (MRN)


CO: Morrison Knudsen Corp. ST: Idaho IN: TRN SU: DIV PER

SW -- SE005 -- 0075 04/23/93 12:46 EDT
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Date:Apr 23, 1993
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