Macro Enterprises Inc. Announces Dividend Declared on Class A Convertible Preference Shares and Board Changes

Marketwired

FORT ST. JOHN, BRITISH COLUMBIA--(Marketwire - March 23, 2012) - Macro Enterprises Inc. (the "Company" or "Macro") (TSX VENTURE:MCR.V - News) announces that it has declared a dividend of $130.00 per share (aggregating $841,100) on its 6,470 outstanding Class A Convertible Preference shares, payable on April 2, 2012 to the holders of record at the close of business on March 22, 2012, such dividend being the aggregate of the dividends that were originally scheduled for payment on the last day of each calendar quarter commencing on January 1, 2010 and ending December 31, 2011. Under the provisions of the Class A Convertible Preference Shares, unpaid dividends are cumulative.

On March 24, 2010, the Company announced that its Board of Directors (the "Board") decided it was in the best interests of the Company to temporarily suspend payment of quarterly dividends on the Class A Convertible Preference Shares of the Company due to Macro experiencing reduced volumes of work in nine months preceding the announcement. The Board considered it prudent to take this action to minimize cash outflows from the Company. The Board of Directors now believes the Company can prudently make this payment.

The Company also announces the resignation of Dean Prodan and Vince Krynski as directors of the Company. The Board would like to recognize and sincerely thank Mr. Prodan and Mr. Krynski for their service and contribution to the Company over the past 6 years.

Macro's core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in northeastern B.C. and northwestern Alberta. The Company's corporate office is in Calgary, Alberta. Its shares are listed on the TSX Venture Exchange under the symbol MCR. Information on the Company's principal operating unit, Macro Industries Inc., can be found at www.macroindustries.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:
Frank Miles
Macro Enterprises Inc.
President and C.E.O.
(250) 785-0033

T. Jerrold Jackson
Macro Enterprises Inc.
C.F.O.
(403) 705-7302
www.macroindustries.ca

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