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MORRISON KNUDSEN RECEIVES FIRST-EVER JOINT VENTURE WITH A REPUBLIC OF THE FORMER SOVIET UNION

 BOISE, Idaho, May 25 /PRNewswire/ -- The first-ever joint venture with a republic of the former Soviet Union, a 12-year gold mining project, was announced today by Morrison Knudsen Corp. (MK) (NYSE: MRN).
 "This is another tangible sign of Morrison Knudsen's reemergence on the world stage," William Agee, MK chairman of the board and chief executive officer, said. "The economic development of the former Soviet republics is a major worldwide priority as we enter the 21st century, and Morrison Knudsen is going to be a key player in this process."
 Earlier, Kyrgyzstan Prime Minister Tyrsynbek Chyngyshev signed a decree, making Morrison Knudsen the first American company to enter into a mining agreement with this Central Asian republic.
 Specifically, Morrison Knudsen will participate in a joint venture with the state-owned mining concern, Kyrgyzaltyn, for the development of an estimated 2.6 million ounces of gold.
 Morrison Knudsen and Kyrgyzaltyn will mine 150,000 ounces of gold annually, beginning in 1995. Confirmation mining and feasibility studies will be conducted by Morrison Knudsen during the next two years.
 "The Kyrgyzstan project is a natural extension of Morrison Knudsen's activities in this region," Steven Y. Chi, MK Gold Co. executive vice president, said. "We are already participating in a gold mining venture in Mongolia, and we are pleased to bring our expertise in this field to a developing republic."
 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- 5/25/93
 /CONTACT: Brent Brandon of Morrison Knudsen, 208-386-5387/
 (MRN)


CO: Morrison Knudsen Corp.; Kyrgyzaltyn ST: Idaho IN: MNG SU: JVN

LM -- SE010 -- 2272 05/25/93 15:30 EDT
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Publication:PR Newswire
Date:May 25, 1993
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