| VIEILLE MONTAGNE SAYS 1986 CONDITIONS UNFAVOURABLE | |
| A sharp fall in the dollar price of | |
| zinc and the depreciation of the U.S. Currency created | |
| unfavourable economic conditions for Vieille Montagne SA | |
| <VMNB.BR> in 1986. | |
| It said in a statement that the two factors led to a | |
| squeeze on refining margins and an 18.24 pct fall in sales and | |
| services income despite an unchanged level of activity. | |
| Vieille Montagne, which is actively pursuing a | |
| restructuring program, reported a 198 mln franc net loss, after | |
| 187 mln francs in provisions for the closure of an electrolysis | |
| plant, compared with a 250 mln franc net profit in 1985. | |