BOW VALLEY INDUSTRIES<BVI> SETS SECONDARY ISSUE Bow Valley Industries Ltd said it filed a preliminary short form prospectus in Canada and the United States for a secondary offering of 22.8 pct of outstanding common stock, or 9,362,197 common shares, being sold by certain shareholders. The company said Bowcan Holdings Inc, a holding company principally owned by the Seaman brothers of Calgary and Charles Rosner Bronfman Trust of Montreal, is offering to sell all of its holding of 8,279,665 Bow Valley common shares. The balance of the offering is owned directly and indirectly by various trusts of Jean and Charles deGunzberg. Proceeds and expenses from the secondary offering of Bow Valley Industries common shares are for the account of the selling shareholders, the company said. The shareholders will engage Salomon Brothers Inc for distribution of the shares in the United States and McLeod Young Weir Ltd for distribution in Canada.