PITTSBURGH, May 7 /PRNewswire/ -- Pitt-Des Moines, Inc. (Amex: PDM)
announced today that its board of directors declared a two-for-one stock split
in the form of a stock dividend distributable on June 26, 1998 to shareholders
of record on June 12, 1998.  The Board also declared a quarterly dividend of
15 cents per share on all shares, including those issued as a result of the
split of common stock, payable June 26, 1998 to shareholders of record on
June 12, 1998.
    PDM explained that the action is expected to help improve the stock's
liquidity and reflects the board's confidence in the company's prospects.
    At its annual shareholders meeting, the company said that based on current
operating trends, it expects another year of excellent results in 1998.
Backlog at March 31, 1998, stood at $264.9 million, versus $197.4 million the
year before and $251.7 million at year-end 1997.
    As previously reported, first-quarter net income doubled to $4.2 million
from $2.1 million the year before, while diluted earnings per share increased
to $1.16 from $0.60.  Earned revenue was up 12 percent, to $123.4 million from
$109.6 million.
    PDM and its subsidiaries provide a wide range of custom engineered
products, structures and facilities for commercial, industrial, municipal and
government customers, in addition to processing and distributing a line of
heavy carbon steel products.
    Comments in this release that refer to future results are forward-looking
and reflect the company's current analysis of existing trends and information.
Actual results may differ materially from current expectations based on a
number of factors affecting the company's businesses, including those listed
in the annual report, form 10-K and other filings made with the Securities and
Exchange Commission.

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