New Mandate - New Name
Middlefield Bancorp Limited

At the Annual General Meeting of H.E.R.O. Industries Ltd. on Friday, March 21st, shareholders approved changing the name to Middlefield Bancorp Limited, continuing the Company under the laws of Ontario, and changing the location of its registered office to from Vancouver to Toronto. The Company will trade over the TSE under the stock symbol MBN once the necessary regularoty filings have been accepted.

While the H.E.R.O. equipment business will remain a core division of Middlefield Bancorp, the Company intends to expand into new areas of interest including merchant banking. In order to enhance its opportunities, Middlefield Bancorp will be managed by the Middlefield Group, drawing on the expertise and successful track record of the Middlefield management team.

For more information, contact:

Murray J. Brasseur
Chairman and Chief Executive Officer

(416) 362-0714

March 24, 1997