Much like sixty fiver said, some of the mid to late 80's MTB frames make ideal conversion candidates, requiring little more than adding racks and fenders. I've got an 85 Peugeot Canyon Express that has all the accoutrements of a quality touring bike minus the downtube gear lever bosses and mid fork braze-ons. Check this thread for more info:
http://www.bikeforums.net/showthread...s-heavy-photos

Here's one featuring MTB conversions if you're interested:
http://www.bikeforums.net/showthread...MTB-conversion