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MAGNUM ANNOUNCES NEW CHIEF EXECUTIVE OFFICER AND YEAR-END RESULTS

 THIEF RIVER FALLS, Minn., Dec. 3 /PRNewswire/ -- Magnum Resources, Inc., announced today that the board of directors has elected Robert H. Carlson as chief executive officer for the company effective Nov. 19, 1993. Carlson will replace Gerald W. Salmen who will remain as the chairman of the board of directors.
 Carlson has extensive experience with management as well as marketing, finance, sales, product development and business development. From 1992 to 1993, Carlson was the principal for R.H. Carlson and Associates, a Minneapolis-based management consulting firm which developed strategic plans and value-based sales and marketing programs for a variety of Midwest clients. From 1990-1992, Carlson was the marketing vice-president for Advance Machine Company where he established and managed a global value-based marketing process which improved sales and price levels. From 1988-1990, Carlson was the sales and marketing vice president for Mammoth-Nortek company where he managed its sales and marketing organization. Prior to this, Carlson worked at the Tennant Company for 14 years where he occupied the position of director of marketing from 1983-1987.
 The company also announced the following financial information:
 MAGNUM RESOURCES
 Year Ended
 7/31/93
 Net sales $5,386,251
 Net losses $(1,815,839)
 Assets 5,999,004
 Current liabilities 2,899,962
 Long-term obligations, less
 current maturity $186,108
 Common stock shares outstanding
 (not on a fully diluted basis) 9,365,009
 Net loss per share (based on weighted
 average common share equivalents,
 when dilutive, of 3,823,025) $(.47)
 These figures are based on consolidated statements of operations for the company and its wholly owned subsidiaries Hydra-Mac, Inc., Thief River Falls; D&E Machining, Wahpeton, N.D.; and Power Equipment, Inc., Thief River Falls.
 Hydra-Mac manufactures four models of four-wheel skid steer loaders which can do a variety of jobs that are difficult to do manually and which large machines, such as tractors, bull-dozers and other construction equipment can not do because of their size and lack of maneuverability.
 D&E is a precision gear manufacturer. D&E supplies machine parts to the company and its subsidiaries as well as many other manufacturing customers in the Midwest.
 Power Equipment is responsible for the development of a new rubber tracked crawler loader under the name Commander(TM). The Commander crawler offers all of the characteristics of skid steer loaders as well as having the advantages of a crawler. The rubber tracks have the traction normally associated with conventional steel track crawlers, however the rubber track will not leave the heavy and sometimes damaging footprint. The combination of this skid steer loader maneuverability and crawler traction and stability has opened a variety of new markets for the company both domestic and foreign. The company produces three models of the Commander; the model 4200, the model 8000, and the model 12,000.
 Carlson hopes to develop an overall business plan that will allow the company, which Carlson believes has truly great products, to achieve at least a break-even level of operations during this fiscal year from a combination of increased sales, increased productivity, improved quality and a reduction of significant one-time-only expenses incurred during 1993.
 -0- 12/3/93
 /CONTACT: Jerry Kutil, CFO, of Magnum, 605-341-5660/


CO: Magnum Resources, Inc. ST: Minnesota IN: SU: ERN PER

AL-DS -- MN012 -- 0271 12/03/93 14:15 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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