Harry R. Steele



    DARTMOUTH, NS, April 19 /CNW/ - Harry R. Steele of Dartmouth, Nova Scotia
announced today that he has acquired 312,900 Class A Subordinate Voting Shares
of Newfoundland Capital Corporation Limited in a purchase through the
facilities of the Toronto Stock Exchange. Mr. Steele now owns or controls
3,839,761 Class A Shares representing approximately 39.4% of the outstanding
Class A Shares and 1,212,434 Class B Shares.
    The purchases were made for investment purposes. Subject to regulatory
limitations, Mr. Steele and companies controlled by him may acquire, dispose
of or continue to hold shares in the normal course of his investment
activities.
    %SEDAR: 00002995E




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For further information: please contact: Scott Weatherby, (902)
468-7557


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