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MAJESTIC CONTRACTORS LIMITED ANNOUNCES CORPORATE CHANGES

MAJESTIC CONTRACTORS LIMITED ANNOUNCES CORPORATE CHANGES
 EDMONTON, June 11 /CNW/ - The Board of Directors of Majestic Contractors Limited is pleased to announce the following changes in its corporate management effective July 1, 1992.
 A. John Cressey will become Chairman of the Board, replacing John M. Bankes and Norman A. Harrison will be appointed President, Chief Executive Officer and a Director of the company.
 John Bankes has served as Chairman of Majestic since 1976 and will continue as a Director.
 A. John Cressey has been President and Chief Executive Officer of the company since 1980 and has spent his entire career in the pipeline industry. Until the recent sale of the company's interest in Monenco, A. John Cressey was also the Chairman and Chief Executive Officer of Monenco Group Ltd., where he remains as a Director.
 Norman A. Harrison joined Majestic in 1981 and is currently Senior Vice-President, Finance and Administration for Majestic as well as Executive Vice-President, Finance and Administration for Monenco Group Ltd., until June 6, 1992. Norman Harrison brings over 30 years of construction and engineering industry and experience gained in various positions he has held with major contracting and engineering firms in Canada.
 Majestic Contractors Limited is one of the leading pipeline contractors in North America. The company is based in Edmonton Alberta and has participated in every major pipeline system in Canada as well as systems in the United States, Malaysia, India and the Middle East. George M. Oswald continues as Senior Vice-President, Pipeline Operations.
 The Company's common stock is listed on the Toronto Stock Exchange under the symbol MJC.
 For further information: N.A. Harrison, Senior Vice-President, Finance & Administration, Majestic Contractors Limited, (403) 955-7167
 (MJC.)
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CO: MAJESTIC CONTRACTORS LIMITED IN: OIL ST: -- c1753 -- X612 06/11/92 Canadian offshore 3Ps catches have taken place.
 Mr. Crosbie allayed concerns that the French fleet, by intercepting groundfish in its own narrow zone, could influence the inshore fishery on the south coast of Newfoundland. He pointed out that most of the French 3Ps catches in recent years were taken in waters that are now under exclusive Canadian jurisdiction.
 "French cod catches over the 1981-88 period, in what are now French waters, averaged 2,400 tonnes, or only about five per cent of the total French cod catch in 3Ps."
 The analysis also shows that only six per cent of the redfish biomass, and 15 per cent of the American plaice biomass occur in the French zone established by the international Court. The French claim would have given France control of approximately 48 per cent of the redfish biomass and 37 per cent of the American plaice biomass.
 The new French zone encompasses a portion of the Iceland scallop beds in 3Ps. The distribution of the Iceland scallop stock is more difficult to define precisely because the commercial fishing patterns are not as well known. The Minister said he would be studying the impact that the decision could have on the newly established scallop processing plant in Grand Bank, Newfoundland, but noted that access to French waters to fish scallops is expected under the 1972 Canada-France Fisheries Agreement.
 The decision gives France exclusive jurisdiction over 18 per cent of the total 3Ps sea scallop biomass. France had claimed 100 per cent. Canadian vessels from the Scotia-Fundy region have fished for sea scallops on the St. Pierre Bank in what are now French waters during the last decade. However, 3Ps catches accounted for on average less than five per cent of the total Scotia-Fundy scallop landings.
 (All of the above figures regarding the impact of the decision on fisheries are preliminary estimates as of June 11, 1992.)
 For further information: Jacqueline Bannister, Communications, St. John's, NF., (709) 772-0410; Bonnie Mewdell, Communications, Ottawa, ONT., (613) 990-0219
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CO: FISHERIES AND OCEANS ST: -- c1755 -- X617 06/11/92
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Date:Jun 11, 1992
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