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KELLER CONCLUDES MAJOR LAND ACQUISITION IN UNITED STATES

 KELLER CONCLUDES MAJOR LAND ACQUISITION IN UNITED STATES
 CALGARY, Alberta, Feb. 4 /PRNewswire/ -- Keller Industries


(NASDAQ: KILFE), a managed venture investment firm, announced today, that it has acquired 40 acres (16 hectares) of development land in Grand Prairie, Texas for future development of a multi-family residential project with low to medium range priced housing accommodation. The property, acquired from Grand Prairie Development Corp. of Florida, was said to have been sold for $17 million U.S.
 Richard Corline, the Calgary-based chief executive officer and managing director of Keller, said, "The ultimate development value on this project could exceed $500 million U.S., depending on the possible inclusion of a shopping center and possibly a major hotel forming part of the overall project. Also planned for the site is a future office park development, and all of these would provide convenient base amenities for residents in the planned multi-family project which will comprise up to 2,000 units of housing."
 Corline said that construction on the project was expected to start later this year subject to acquisition of necessary building permits. The project is to be developed in five phases over a period of five to seven years depending on economic growth conditions. The 40-acre (16-hectare) site is bounded on three sides by West Freeway, Dickey Road, and South Carrier Parkway, all major arteries in Grand Prairie, located 14 miles (22.5km) northeast of Dallas, Texas.
 The Grand Prairie project will be developed and operated by Dexx Energy Corp. (Toronto: DEXX), a subsidiary of Keller Industries Ltd. Keller is domiciled in the Isle of Man. After moving executive offices to Calgary in September 1991, Keller commenced a series of takeovers, mergers and associations. Keller owns 46 percent of Dexx. Dexx will own a 25 percent interest in the project. Keller Industries Ltd. directors include Corline, as chief executive officer/managing director; Gerald E. Sklar, as secretary/director; and Thomas P. Devlin as treasurer/director.
 -0- 2/4/92
 /NOTE: This company is domiciled in the Isle of Man, only its executive offices are located in Calgary.
 /CONTACT: Jan Tetrault of Keller Industries, 403-299-0910/
 (KILFE DEXX.) CO: Keller Industries Ltd. ST: Alberta IN: SU: RLE


AL -- LA006 -- 6690 02/04/92 12:24 EST
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Date:Feb 4, 1992
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