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BANISTER REPORTS THREE MONTHS RESULTS ENDED DEC. 31, 1991

 BANISTER REPORTS THREE MONTHS RESULTS ENDED DEC. 31, 1991
 TORONTO, March 10 /PRNewswire/ -- Banister Inc. (AMEX: BAN) today


reported, for the three months ended Dec. 31, 1991, a net profit of $6,510,000 or $1.09 per share on revenue of $102,635,000. This compares with a net loss of $2,689,000 or 45 cents per share on revenues of $183,422,000 for the same period in 1990.
 For the year ended Dec. 31, 1991, a net profit of $6,648,000 or $1.12 per share was reported on revenues of $421,535,000. This compared with a net loss of $8,517,000 or $1.43 per share on revenues of $700,635,000 for fiscal 1990.
 The corporation's increased earnings follow from improved operating results, reduction of overheads as appropriate for existing and potential work volumes, and disposal of certain non-performing fixed assets.
 At Dec. 31, 1991, the corporation recorded a work backlog of $138,034,000. The corporation's operating divisions are presently carrying out projects across Canada, in the United States, and overseas in China and Romania.
 Banister Inc. is a Canadian based construction firm specializing in civil, utility, building, pipeline and industrial construction.
 Principal business office: 3660 Midland Ave., Scarborough, Ontario, M1V 4V3
 Telephone: 416-754-8735
 Fax: 416-754-8736
 -0- 3/10/92
 /CONTACT: E.R. Austin, president, or C.N. D'Croix, vice president and chief financial officer of Banister, 416-754-8735/
 (BAN) CO: Banister Inc. ST: Ontario IN: CST SU: ERN


CK -- NY075 -- 7096 03/10/92 17:33 EST
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Date:Mar 10, 1992
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