N@N

Note 1 - References to EBITDA are to net income from continuing operations before interest, taxes, amortization and impairment charge. EBITDA is not an earnings measure recognized by GAAP and does not have a standardized meaning prescribed by GAAP. Management believes that EBITDA is an appropriate measure in evaluating the Company's performance. Readers are cautioned that EBITDA should not be construed as an alternative to net income (as determined under GAAP) as an indicator of financial performance or to cash flow from operating activities (as determined under GAAP) as a measure of liquidity and cash flow. The Company's method of calculating EBITDA may differ from the methods used by other issuers and, accordingly, the Company's EBITDA may not be comparable to similar measures used by other issuers.

Highlights

• Results were below the first quarter of last year, due to lower revenue levels and lower gross margins. The lower gross margins were due to performance on one job this year.

• The Company negotiated a new one-year credit agreement with its principal lender and renegotiated the terms of its shareholder loan which extends the repayment date by one year.

First quarter results

Consolidated revenue was $14.9 million compared to $27.5 million in the first quarter last year. Volumes continued below the prior year reflecting reduced oilfield activity and increased competition.

Direct costs were 85.1% of revenue in the quarter compared to 78.8% in the same quarter last year. Costs were higher this year, due in part to weather delays and lower bid margins, mainly in association with one job.

General and administrative expenses were $1.0 million, down from $1.3 million last year. Savings were realized principally through lower compensation costs.

Total amortization expense was $0.8 million compared to $0.9 million in the first quarter last year. Amortization expense was lower due to reduced levels of fixed asset additions in the prior year.

Interest expense of $0.2 million was $0.1 million below last year due mainly to lower levels of demand loans and term loans.

In the second quarter of 2010, the Company sold some surplus real estate for net proceeds of $795,000, which were $100,000 below the carrying value of this real estate. Accordingly, the Company has recorded an impairment charge for $100,000 in the first quarter.

Income tax expense in the quarter of $0.1 million was at an effective tax rate of 35.3%. This is higher than statutory rates due in part to the effect of permanent differences between accounting and taxable income.

Net income was $0.1 million ($0.00 per share) compared to a net income from continuing operations last year of $2.2 million ($0.09 per share).

Outlook

The Company continues to operate in a challenging environment particularly due to low natural gas prices. However, oil and gas drilling activity did increase in the 2009/2010 winter compared to the previous year which augurs well for the future. The Company is maintaining a strong balance sheet in order to position itself for future growth.

The Company is expecting revenues in the second quarter of 2010 to be similar to the same period last year. The Company continues to reduce operating costs where possible.

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 ].

Forward Looking Statements

Certain statements in this news release may include forward-looking information that involves various risks and uncertainties. These may include, without limitation, statements regarding expected revenues, expenses and industry trends and the pursuit of strategic acquisitions. These risks and uncertainties include, but are not restricted to, global economic conditions, government regulation of energy and resource companies, seasonal weather patterns, maintaining and increasing market share, terrorist activity, the price and availability of alternative fuels, the availability of pipeline capacity, and potential instability or armed conflict in oil producing regions. For a more detailed description of these risks and uncertainties, please see the section "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2009 available on SEDAR at [ www.sedar.com ]. These risks and uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.