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MORRISON KNUDSEN: PROMINENT AUSTRALIAN BUSINESSMAN WILL J. BAILEY NAMED CHAIRMAN, MK AUSTRALIA

 BOISE, Idaho, March 22 /PRNewswire/ -- William J. Agee, chairman and chief executive officer of Morrison Knudsen Corp. (MK) (NYSE: MRN), announced today that Will J. Bailey, a prominent Australian businessman, has been named chairman of Morrison Knudsen Australia.
 Bailey retired last year as deputy chairman and group chief executive of Australia and New Zealand Banking Group Limited (ANZ Bank) after a 42-year career with the Melbourne-based institution. His role with MK will be in addition to other current business interests which include deputy chairman and director of Coles Myer Limited, one of Australia's largest retail organizations.
 "The appointment of Will Bailey to head our operations in Australia reaffirms MK's strong commitment to growth in Australia and throughout the Pacific Rim," said Agee. "Mr. Bailey's experience and business acumen will be invaluable as MK expands its rail operations and moves into a wider range of activities in that region of the world."
 Bailey joined ANZ Bank in 1950 and held several senior management positions. In 1984, he was appointed group managing director and chief executive officer, and appointed deputy chairman and group chief executive in 1988. He served two terms as chairman of the Australian Bankers Association and served as president of the Australian Institute of Bankers.
 In 1989, because of his contributions to business and the community, Bailey was named an Officer in the General Division of the Order of Australia (AO).
 "I am delighted to be part of MK's team in Australia," Bailey said. "The company is committed to success here."
 Morrison Knudsen Australia was established in 1991, and its first priorits? to serve the country's rail industry. A locomotive facility was established in Whyalla in South Australia, and the company presently is working on locomotive remanufacturing contracts for BHP and Australian National Railways.
 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- 3/22/93
 /CONTACT: Stan Crow of Morrison Knudsen, 208-386-5387/
 (MRN)


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

LM -- SE006 -- 8206 03/22/93 11:43 EST
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Publication:PR Newswire
Date:Mar 22, 1993
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