TCR_Public/041211.mbx       T R O U B L E D   C O M P A N Y   R E P O R T E R

         Saturday, December 11, 2004, Vol. 8, No. 273

                          Headlines

AIR CANADA: ACE Releases Amended Third Quarter Financial Results
AMES DEPT: Monthly Operating Report for Period Ended Oct. 2, 2004
ANC RENTAL: Posts $469,429 Net Loss in September 2004
CATHOLIC CHURCH: Spokane Diocese's Schedules of Assets & Debts
CENTURY/ML: Earns $3.1 Million of Net Income in October 2004

INTERMET CORP: Posts $8,500,000 Net Loss in October 2004
KAISER ALUMINUM: Posts $142.7 Million Net Loss for Sept. 2004
KAISER ALUMINUM: Earns $1.8 Million of Net Income in Oct. 2004
NEWPOWER HOLDINGS: Files October 2004 Monthly Operating Report
RCN CORPORATION: Posts $18.8 Million Net Loss in October 2004

TRENWICK GROUP: Posts $4,362,168 Net Loss in September 2004
TRENWICK GROUP: Earns $13,241,915 of Net Income in October 2004
WESTPOINT STEVENS: WP Stevens I Posts $5 Mil. Net Loss in October
WESTPOINT STEVENS: JP Stevens & Co.'s October Operating Report
WESTPOINT STEVENS: JP Stevens Enterprises' Oct. Operating Report

WESTPOINT STEVENS: WP Stevens Stores' October Operating Report

                          *********

AIR CANADA: ACE Releases Amended Third Quarter Financial Results
----------------------------------------------------------------
For the purposes of providing a reconciliation to generally
accepted accounting principles in the United States (U.S. GAAP)
and also to provide a separate consolidated statement of cash flow
for ACE Aviation Holdings Inc. (ACE), ACE has amended its third
quarter 2004 unaudited interim consolidated financial statements
and notes, as filed on http://www.sedar.com/on November 12, 2004.

The ending cash balance of ACE on September 30, 2004 and the
consolidated statement of operations for the third quarter are
unchanged.

             Amendments to Third Quarter 2004 Report

     Consolidated Statement of        No Change
     Financial Position

     Consolidated Statement of        No Change
     Operations and Retained
     Earnings (Deficit)

     Consolidated Statement of        Amended to reflect
     Cash Flow (Predecessor           transactions of Predecessor
     Company)                         Company by removing exit
                                      financing transactions of
                                      the Successor Company.

     Consolidated Statement of        New statement disclosing
     Cash Flow (Successor             exit financing transactions
     Company)                         of the Successor Company.

     Note 17                          New note containing
                                      reconciliation to U.S.
                                      GAAP.

The amended consolidated financial statements and notes are
available at:

   http://bankrupt.com/misc/amended_third_quarter_financials.pdf


                    ACE Aviation Holdings Inc.
                 Predecessor Company - Air Canada
      Amended Unaudited Consolidated Statement of Cash Flow
              Three months ended September 30, 2004
                       (dollars in millions)

Cash flows from (used for):

Operating:
   Loss for the period                                   (CN$81)

Adjustments to reconcile to net cash provided
   by operations:
   Reorganization and restructuring items                   281
   Depreciation, amortization and obsolescence              114
   Loss on sale of and provisions on assets                  62
   Foreign exchange                                        (123)
   Future income taxes                                        1
   Employee future benefit funding less than expense         23
   Decrease (increase) in accounts receivable               (15)
   Decrease (increase) in spare parts,
      materials and supplies                                 (7)
   Increase (decrease) in accounts payable
      and accrued liabilities                                49
   Increase (decrease) in advance ticket sales,
      net of restricted cash                               (138)
   Aircraft lease payments (in excess of)
      less than rent expense                                 (3)
   Other                                                     20
                                                       --------
                                                            183

Financing:
   Drawdown on GE DIP financing                               -
   Aircraft related borrowings                              116
   Credit facility borrowings                                 -
   Reduction of long-term debt and
      capital lease obligations                             (49)
   DIP financing fees                                         -
   Other                                                     (2)
                                                       --------
                                                             65

Investing:
   Additions to property and equipment                     (142)
   Proceeds from sale of assets                               1
   Investments and advances                                   -
                                                       --------
                                                           (141)
                                                       --------
Increase (decrease) in cash and cash equivalents            107

Cash and cash equivalents, beginning of period              850

Cash and cash equivalents transferred to
   the Successor Company                                   (957)
                                                       --------
Cash and cash equivalents, end of period                   CN$0
                                                       ========


                    ACE Aviation Holdings Inc.
                     Successor Company - ACE
      Amended Unaudited Consolidated Statement of Cash Flow
              Three months ended September 30, 2004
                       (dollars in millions)

Cash flows from (used for):

Operating:
   Settlement of lease obligations                      (CN$290)
   Rebate on lease settlement                                33
   Take out fee on notes and warrants                       (45)
   Fees conditional on emergence                            (12)
                                                       --------
                                                           (314)

Investing
   Cash collaterization of lines of credit                  (21)
                                                       --------

Financing
   Drawdown of exit financing                               527
   Repayment of GE DIP financing                           (300)
   Preferred shares issued to Cerberus for cash             238
   Shares issued for cash under Rights Offering             852
                                                       --------
                                                          1,317
                                                       --------
Increase in cash and cash equivalents                       982

Cash and cash equivalents transferred from
   the Predecessor Company                                  957
                                                       --------
Cash and cash equivalents, end of period               CN$1,939
                                                       ========

Air Canada filed for CCAA protection on April 1, 2003 (Ontario
Superior Court of Justice, Case No. 03-4932) and filed a Section
304 petition in the U.S. Bankruptcy Court for the Southern
District of New York (Case No. 03-11971). Mr. Justice Farley
sanctioned Air Canada's CCAA restructuring plan on Aug. 23, 2004.
Sean F. Dunphy, Esq., and Ashley John Taylor, Esq., at Stikeman
Elliott LLP, in Toronto, serve as Canadian Counsel to the carrier.
Matthew A. Feldman, Esq., and Elizabeth Crispino, Esq., at Willkie
Farr & Gallagher serve as the Debtors' U.S. Counsel. When the
Debtors filed for protection from its creditors, they listed
C$7,816,000,000 in assets and C$9,704,000,000 in liabilities.

On September 30, 2004, Air Canada successfully completed its
restructuring process and implemented its Plan of Arrangement.
The airline exited from CCAA protection raising $1.1 billion of
new equity capital and, as of September 30, has approximately
$1.9 billion of cash on hand. (Air Canada Bankruptcy News, Issue
No. 54; Bankruptcy Creditors' Service, Inc., 215/945-7000)


AMES DEPT: Monthly Operating Report for Period Ended Oct. 2, 2004
-----------------------------------------------------------------

           Ames Department Stores, Inc., and Subsidiaries
           Unaudited Consolidated Condensed Balance Sheets
                         At October 2, 2004
                           (In Thousands)

ASSETS
Current Assets:
      Cash and cash equivalents                          $11,523
      Restricted cash                                     59,381
      Receivables                                            951
                                                      ----------
Total current assets                                      71,855
                                                      ----------
Fixed assets                                                   -
                                                      ----------
Total assets                                             $71,855
                                                      ==========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
      Accounts payable:
         Trade                                           $59,928
         Other                                            14,291
                                                      ----------
      Total accounts payable                              74,219

Self-insurance reserves                                   31,615
Accrued expenses                                          23,446
Liabilities subject to compromise                        848,740
                                                      ----------
Total liabilities                                        978,020

Stockholders' equity (deficit)
      Common stock                                           295
      Additional paid-in capital                         533,393
      Accumulated deficit                             (1,438,931)
      Treasury stock                                        (922)
                                                      ----------
Total stockholders' deficit                             (906,165)
                                                      ----------
Total liabilities and stockholders' deficit              $71,855
                                                      ==========


           Ames Department Stores, Inc., and Subsidiaries
     Unaudited Consolidated Condensed Statements of Operations
                For Five Weeks Ended October 2, 2004
                           (In Thousands)

Total revenue                                            $11,998

Costs and expenses
      Wind down expenses and other costs                     480
      Write off excess reserves                                -
      Gain on sale of fixed assets                            (7)
      Professional fees                                      150
                                                      ----------
Income before income taxes                                11,375
                                                      ----------
Net Income                                               $11,375
                                                      ==========


           Ames Department Stores, Inc., and Subsidiaries
     Unaudited Consolidated Condensed Statements of Cash Flows
                For Five Weeks Ended October 2, 2004
                           (In Thousands)

Cash flows from operating activities:
      Net Income                                         $11,375

      Expenses not requiring the outlay of cash:
         Gain on sale of fixed assets                         (7)
                                                      ----------
Cash used by operations                                   11,368

Changes in working capital:
      Increase in receivables                               (224)
      Decrease in accrued expenses & other liabilities    (1,114)

      Increase in accounts payable                           212
      Decrease in restricted cash                            290
                                                      ----------
Net cash provided by operating activities                 10,532

Cash flows from financing activities:
      Proceeds from the sale of fixed assets                   7
      Borrowings under DIP Credit Agreement                    -
      Change in liabilities subject to compromise            121
                                                      ----------
Net cash provided by financing activities                    128

Decrease in cash and cash equivalents                     10,660
Cash and cash equivalents, beginning of period               863
                                                      ----------
Cash and cash equivalents, end of period                 $11,523
                                                      ==========

Ames Department Stores filed for chapter 11 protection on
August 20, 2001 (Bankr. S.D.N.Y. Case No. 01-42217). Albert Togut,
Esq., Frank A. Oswald, Esq. at Togut, Segal & Segal LLP and Martin
J. Bienenstock, Esq., and Warren T. Buhle, Esq., at Weil, Gotshal
& Manges LLP represent the Debtors in their restructuring efforts.
When the Company filed for protection from their creditors, they
listed $1,901,573,000 in assets and $1,558,410,000 in liabilities.
(AMES Bankruptcy News, Issue No. 61; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


ANC RENTAL: Posts $469,429 Net Loss in September 2004
-----------------------------------------------------

                    ANC Rental Corporation, et al.
                        Combined Balance Sheet
                       As of September 30, 2004

                                ASSETS

Current Assets
       Cash -- Investments and Other Cash            $14,351,058
       Cash -- ANC Primary Disbursement                   17,838
                                                 ---------------
          Total Unrestricted Cash                     14,368,896

       Restricted Cash -- Professional Fee Escrow              -
       California DMV Restricted Cash                          -
       Restricted Cash -- Tax Escrow                   5,658,732
                                                 ---------------
          Total Restricted Cash                        5,658,732

       Accounts Receivable Other                          65,503
       Corporate Accounts                              3,639,854
       Collision Damage Recovery A/R                   2,873,499
       Collision Damage Recovery Reserve              (2,873,499)
       Provision -- Trade A/R                         (3,640,625)
                                                 ---------------
          Total Receivables, net                          64,732
                                                 ---------------
       Total Current Assets                           20,092,360

Other Assets Deposits                                     93,998
                                                 ---------------
Total Assets                                         $20,186,359
                                                 ===============

                         LIABILITIES & CAPITAL

Administrative Liabilities
       Accounts Payable                                 $946,220
       Admin Claim -- Legal and Professional Fee               -
       Accrued Interest on 3rd Party Debt                      0
       Reserve for Other Admin Claims                  1,025,000
                                                 ---------------
          Estimated Admin and Prof Fee Reserves        1,968,220

Secured Liabilities
       Accrued Ad-Valorem Tax Reserve                  6,351,709

Priority Liabilities
       Accrued Prepetition Personal Property Taxes     2,264,409
       Other Priority Creditor Accruals                  444,127

General Unsecured Liabilities
       Reserves for General Unsecured Claims         457,177,632
                                                 ---------------
Total Liabilities                                    468,206,097

Total Capital                                       (448,019,738)
                                                 ---------------
Total Liabilities & Capital                          $20,186,359
                                                 ===============


                    ANC Rental Corporation, et al.
                       Statement of Operations
                 For the month ending September 30, 2004

Total Revenues                                                $0
Expenses
       Citations                                               0
       Turnback Expense Charges                                0
       Damage Repair -- Collection                        (1,536)
       Unemployment Taxes -- State                             0
       Payroll Taxes -- Other                            (19,570)
       Bank Service Charges                                  235
       Consulting Fees                                   342,307
       Accounting -- Auditing Fees                             0
       Legal Fees                                        129,608
       Data Processing Services                            2,298
       Printed Forms/Stationery                                0
       Rent Expense                                            0
       Utilities                                               0
       Telephone/Communications                                0
       Personal Property Taxes                                 0
       Non-Property Taxes                                      0
       Other Office Supplies                               1,676
       Interest Exp -- Other Notes                             0
       Personal Property Taxes                            14,093
       Non-Property Taxes                                    318
                                                 ---------------
          Total Expenses                                 469,429
                                                 ---------------
Net Income                                            ($469,429)
                                                 ===============


                    ANC Rental Corporation, et al.
                   Cash Receipts and Disbursements
                For the month ending September 30, 2004

Cash at Beginning of Period                           $6,795,611

Receipts:
       Credit Card and Local Deposits                          0
       Collections of Accounts Receivable                 18,839
       Other Receipts                                 20,023,054
                                                 ---------------
          Total Receipts                             $20,041,893

Disbursements:
       US Trustee Fees Paid                                    0
       Fleet Operating Expenses                                0
       Personnel - Net Cash Payroll                            0
       Personnel - Payroll Taxes Paid                          0
       Personnel - Benefits Payments                           0
       Personnel - Payments of Garnishments Withheld           0
       Travel Expenses Paid                                    0
       Fuel Rental Fleet Payments                              0
       Airport - Agency - Concession Fees Paid                 0
       Insurance Payments All                                  0
       Facility & Other Fixed Operating Expenses Paid          0
       Travel Agency Tour Operator Commission Payments         0
       Advertising Payments                                    0
       IT Consulting Payments                                  0
       IT Other Cash Payments                                  0
       Sales Taxes and Other Taxes Paid                    1,785
       Professional Fees Paid - Ordinary Course                0
       Professional Fees Paid - Bankruptcy Prof.         218,761
       Other Miscellaneous Operating Expenses Paid        89,329
       Capital Expenditures                                    0
       Interest and Financing Fees Paid                        0
       Vehicle Holding Costs Paid                              0
       Working Capital Fundings to Subsidiaries                0
       Payoff Lehman Superpriority Admin. Claim        6,500,000
       Payment to Lehman Bros
          -- Bridge Loan Facility                              0
                                                 ---------------
          Total Disbursements                          6,809,876

Net Cash Flow                                         13,232,018
                                                 ---------------
Cash at End of Period                                $20,027,629
                                                 ===============

Headquartered in Fort Lauderdale, Florida, ANC Rental Corporation,
is the world's third-largest publicly traded car rental company.
The Company filed for chapter 11 protection on November 13, 2001
(Bankr. Del. Case No. 01-11200). On April 15, 2004, Judge Walrath
confirmed the Debtors' 3rd amended Chapter 11 Liquidation Plan, in
accordance with Section 1129(a) and (b) of the Bankruptcy Code.
Upon confirmation, Blank Rome, LLP, and Fried, Frank, Harris,
Shriver & Jacobson, LLP, withdrew as the Debtors' counsel. Gazes &
Associates, LLP, and Stevens & Lee, PC, serve as substitute
counsel to represent the debtors' post-confirmation interests.
When the Company filed for protection from their creditors, they
listed $6,497,541,000 in assets and $5,953,612,000 in liabilities.
(ANC Rental Bankruptcy News, Issue No. 62; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Spokane Diocese's Schedules of Assets & Debts
--------------------------------------------------------------

A.     Real Property
          Pastoral Center at 1023 W. Riverside
             in Spokane                              $1,100,000
          Other real properties in Spokane            2,288,400
          Mattausch Farm in Whitman County, WA        Not given

B.     Personal Property
B.1    Cash on Hand                                       1,780
B.2    Bank Account
          US Bank                                     3,979,965
          Sterling Pension Account                        5,000
          Spokane Catholic Investment Trust              76,424
B.3    Security Deposits                                      0
B.4    Household goods                                  Unknown
B.5    Books, art work & collectibles                   Unknown
B.6    Wearing apparel                                        0
B.7    Furs and jewelry                                       0
B.8    Firearms and sporting goods                            0
B.9    Interests in insurance policies                  Unknown
B.10   Annuities                                              0
B.11   Interests in retirement plans                          0
B.12   Stock interests
          The Catholic Bishop of Spokane is a
          member, sole member, shareholder or sole
          shareholder of a number of non-profit
          corporations associated with the mission
          and ministry of the Diocese:

     Type of                  Description             Current
     Property                 of Property             Market Value
     --------                 -----------             ------------
     Catholic Charities of    No shares authorized,           0
     the Diocese of Spokane   issued or outstanding;
                              Bishop is President
     Catholic Cemeteries      100 shares authorized,          0
     of Spokane               issued or outstanding;
                              Bishop is sole shareholder

     Catholic Foundation      No shares authorized,           0
     of Spokane               issued or outstanding

     The Spokane Catholic     100,000,000 non-voting     76,424
     Investment Trust         shares authorized;
                              76,424 shares held

     Immaculate Heart         No shares authorized,           0
     Retreat Foundation of    issued or outstanding
     Spokane, Washington

     Morning Star Boys'       No shares authorized,           0
     Ranch                    issued or outstanding

B.13   Interests in partnerships or joint venture             0
B.14   Bonds                                                  0
B.15   Accounts receivable
          Account Receivable                            101,517
          Loan Receivable Deposit & Loan Fund         2,915,996
B.16   Alimony                                                0
B.17   Other liquidated debts owed                            0
B.18   Equitable and future interests
          Bequest from the Estates of Chester           Unknown
          Chastek and Catherine unknown Chastek
          pursuant to Last Will and Testament of
          Catherine Chastek dated December 15, 1999
          to be used for the "retirement payment to
          priests and sisters" and "for the expenses
          of training seminarians to become priests.

B.19   Contingent interests                                   0
B.20   Other contingent & unliquidated claims                 0
B.21   Patents, copyrights & trademarks                       0
B.22   Other intangibles                                      0
B.23   Automobiles
          1996 Nissan Altima                            Unknown
          VIN 1N4BU31D2SC207609

          1998 Ford Taurus                              Unknown
          VIN #1FALP42UZG280255

          2000 Nissan Maxima                            Unknown
          VIN #JNICA31D5VT531964

B.24   Boats                                                  0
B.25   Aircraft                                               0
B.26   Office equipment and supplies                    484,834
B.27   Machinery, furniture and fixtures                      0
B.28   Inventory                                              0
B.29   Animals                                                0
B.30   Crops                                                  0
B.31   Farming equipment                                      0
B.32   Farm supplies                                          0
B.33   Other personal property
          Claims have been made by the Diocese with     Unknown
          respect to policies issued by insurers
          and underlying lawsuits, actions and claims
          by various plaintiffs for alleged negligent
          supervision by the Diocese of certain
          priests.  The Insurers have either reserved
          rights or have denied the claims.  There is
          a dispute between the Diocese and the
          Insurers as to the existence and extent of
          insurance coverage.  The Diocese reserves
          all rights it has against the Insurers.

          Prepaid liability insurance                     2,659

          Prepaid postage on postage meter                6,362

       TOTAL SCHEDULED ASSETS                       $11,162,938
       ========================================================

C.     Property Claimed as Exempt                Not Applicable

D.     Secured Claims                                    $5,303

E.     Unsecured Priority Claims                         13,527

F.     Unsecured Non-Priority Claims
          Civil Tort Claimants                       75,790,000
          All Saints School                             206,296
          Catholic Cemeteries - Holy Cross              735,520
          Our Lady of the Valley                        122,062
          Sacred Heart - Brewster                       212,270
          Sacred Heart - Othello                        269,550
          Sacred Heart - Wilbur                         277,865
          Sacred Heart Church                           133,280
          Safeco Specialty Claims                       600,000
          Self Insurance Fund                           314,078
          St. Joseph - Colbert                          213,894
          St. Mary Presentation                         973,337
          Others                                      1,497,073

       TOTAL SCHEDULED LIABILITIES                  $81,364,055
       ========================================================

The Roman Catholic Church of the Diocese of Spokane filed for  
chapter 11 protection (Bankr. E.D. Wash. Case No. 04-08822) on  
Dec. 6, 2004.  Michael J. Paukert, Esq., at Paine, Hamblen,  
Coffin, Brooke & Miller LLP, represent the Spokane Archdiocese in  
its restructuring efforts.  When the Debtor filed for protection  
from its creditors, it listed $11,162,938 in total assets and  
$81,364,055 in total debts.

The Roman Catholic Church of the Diocese of Tucson filed for  
chapter 11 protection (Bankr. D. Ariz. Case No. 04-04721) on  
September 20, 2004, and delivered a plan of reorganization to the  
Court on the same day.  Susan G. Boswell, Esq., and Kasey C. Nye,  
Esq., at Quarles & Brady Streich Lang LLP, represent the Tucson
Diocese.

The Archdiocese of Portland in Oregon filed for chapter 11  
protection (Bankr. Ore. Case No. 04-37154) on July 6, 2004.   
Thomas W. Stilley, Esq., and William N. Stiles, Esq., at Sussman  
Shank LLP, represent the Portland Archdiocese in its restructuring  
efforts.  In its Schedules of Assets and Liabilities filed with  
the Court on July 30, 2004, the Portland Archdiocese reports  
$19,251,558 in assets and $373,015,566 in liabilities.


CENTURY/ML: Earns $3.1 Million of Net Income in October 2004
------------------------------------------------------------

                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                      Unaudited Balance Sheet
                       As of October 31, 2004
                       (Dollars in thousands)

                               ASSETS

Cash and cash equivalents                                $17,076
Subscriber receivables - net                                 655
Investment in Century-ML Corporation                     131,137
Related party receivables                                    231
Other current assets                                         323
                                                        --------
Total current assets                                     149,422

Property, plant and equipment - net                        6,025
Intangible assets - net                                    1,528
                                                        --------
     Total assets                                       $156,975
                                                        ========

               LIABILITIES AND STOCKHOLDERS' EQUITY

Subscriber advance payments and deposits                    $347
Accrued expenses and other liabilities                     1,660
Intercompany payables                                      2,147
                                                        --------
Total current liabilities                                  4,154
                                                        --------

Long-term accrued and other liabilities                       80
Deferred income taxes                                         45
                                                        --------
Total non-current liabilities                                125

Liabilities subject to compromise:
     Accounts payable                                         20
     Accrued expenses and other liabilities                1,375
     Intercompany payables                                10,919
                                                        --------
        Total liabilities subject to compromise           12,314
                                                        --------
        Total liabilities                                 16,593
                                                        --------
Partners' equity:
     Partners' contributions                              56,800
     Partners' retained earnings                          83,582
                                                        --------
     Total partners' equity                              140,382
                                                        --------
     Total liabilities and partners' equity             $156,975
                                                        ========


                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                 Unaudited Statement of Operations
               For the Month Ended October 31, 2004
                       (Dollars in thousands)

Revenue                                                   $1,159

Cost and expenses:
     Direct operating and programming                        551
     Selling, general and administrative                      32
     Management fees                                          44
     Non-recurring professional fees                           -
     Depreciation                                             69
                                                        --------
     Operating income before reorganization
        expenses due to bankruptcy                           463

Reorganization expenses due to bankruptcy                     82
                                                        --------
Operating income                                             381
     Interest income - net                                    20
     Equity in net income of Century-ML Cable
        Corporation - net of taxes                         2,800
                                                        --------
Income before income taxes                                 3,201
     Income tax expense                                      (94)
                                                        --------
Net income                                                $3,107
                                                        ========


                      Century-ML Cable Venture
                       (Debtor-In-Possession)
                 Unaudited Statement of Cash Flows
               For the Month Ended October 31, 2004
                       (Dollars in thousands)

Cash flow from operating activities:
Net income                                                $3,107
     Adjustments to reconcile net income
         to net cash provided by (used in)
         operating activities:
     Depreciation                                             69
     Reorganization expenses due to bankruptcy                82
     Non-recurring professional fees                           -
     Equity in net income of Century-ML Cable
        Corporation - net of taxes                        (2,800)
     Change in assets and liabilities:
        Subscriber receivables - net                         (38)
        Prepaid expenses and other assets - net               11
        Accounts payable                                       -
        Subscriber advance payments and deposits             (35)
        Accrued expenses and other liabilities                19
        Intercompany receivables and payables - net           75
                                                        --------
Net cash provided by operating activities                    490
                                                        --------
Cash flows from investing activities:
     Expenditures from property, plant and equipment         (49)
                                                        --------
Net cash used in investing activities                        (49)
                                                        --------
Change in cash and cash equivalents                          441
Cash and cash equivalents, beginning of period            16,635
                                                        --------
Cash and cash equivalents, end of period                 $17,076
                                                        ========

Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country. Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks. The Company and its more than
200 affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002. Those cases are jointly
administered under case number 02-41729. Willkie Farr & Gallagher
represents the ACOM Debtors. (Adelphia Bankruptcy News, Issue
No. 75; Bankruptcy Creditors' Service, Inc., 215/945-7000)


INTERMET CORP: Posts $8,500,000 Net Loss in October 2004
--------------------------------------------------------
Intermet Corporation and its debtor-affiliates delivered its
October 2004 monthly operating report to the U.S. Bankruptcy Court
for the Eastern District of Michigan.

For the month ending Oct. 31, 2004, Intermet Corporation reported
net loss of $8,500,000 against $58,747,000 net sales.

At Oct. 31, 2004, Intermet's balance sheet shows:

      Current Assets                     $183,569,000
      Total Assets                        695,946,000
      Postpetition Debts                   13,970,000
      Total Liabilities                   587,226,000
      Total Stockholders' Equity         $108,720,000

A full-text copy of Intermet Corporation's October 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/745287/000095012404006060/k90139exv99w1.txt


Headquartered in Troy, Michigan, Intermet Corporation --
http://www.intermet.com/ -- provides machining and tooling  
services for the automotive and industrial markets specializing in
the design and manufacture of highly engineered, cast automotive
components for the global light truck, passenger car, light
vehicle and heavy-duty vehicle markets. Intermet, along with its
debtor-affiliates, filed for chapter 11 protection on Sept. 29,
2004 (Bankr. E.D. Mich. Case Nos. 04-67597 through 04-67614).
Salvatore A. Barbatano, Esq., at Foley & Lardner LLP, represents
the Debtors. When the Debtors filed for protection from their
creditors, they listed $735,821,000 in total assets and
$592,816,000 in total debts.


KAISER ALUMINUM: Posts $142.7 Million Net Loss for Sept. 2004
-------------------------------------------------------------

           Kaiser Aluminum Corporation -- All Debtors
                    Unaudited Balance Sheets
                    As of September 30, 2004
                         (In Thousands)

                             ASSETS

Cash                                                    $29,170

Receivables:
   Trade                                                129,152
   Other                                                 16,081
                                                      ---------
Total Receivables                                       145,233

Inventories                                             157,410
Prepaid expenses and other current assets                35,161
                                                      ---------
Total current assets                                    366,974

Investments in and advances to subsidiaries             176,116
Intercompany receivables/payables, net                 (104,220)
Property, plant, and equipment - net                    218,878
Deferred income taxes                                         -
Other assets                                            790,741
                                                      ---------
Total Assets                                         $1,448,489
                                                      =========

               LIABILITIES & STOCKHOLDERS' EQUITY

Liabilities not subject to compromise:
   Accounts Payable                                     $75,484
   Accrued interest                                         921
   Accrued salaries, wages and related expenses          36,609
   Accrued post retirement benefit -- current             1,066
   Other accrued liabilities                             95,365
   Payable to affiliates                                 56,081
   Long term debt - current portion                       1,232
                                                      ---------
Total current liabilities                               266,758

Long-term liabilities                                    45,544
Accrued postretirement benefit obligation                     -
Long-term debt                                            2,212
Liabilities subject to compromise                     2,881,935
Minority interests                                          655

Stockholders' equity:
   Preference stock                                           -
   Common stock                                             791
   Additional capital                                   538,693

Accumulated deficit - As of filing date                (946,925)
Accumulated deficit - Post filing date               (1,333,230)
Accumulated other comprehensive income (loss)            (7,944)
Note receivable from parent                                   -
                                                      ---------
Total Liabilities & Stockholders' Equity             $1,448,489
                                                      =========


           Kaiser Aluminum Corporation -- All Debtors
                    Statements of Operations
            For the Month Ending September 30, 2004
                         (In Thousands)

Net Sales                                              $120,602

Costs and expenses:
   Cost of products sold                                110,065
   Depreciation & amortization                            2,283
   Selling, administrative, R&D and general               9,092
   Other operating charges (benefits), net              135,129
                                                      ---------
Total costs and expenses                                256,569
                                                      ---------
Operating income (loss)                                (135,967)

Other income (expense):
   Interest expenses, net                                  (817)
   Reorganization items                                  (3,410)
   Other-net                                                (72)
                                                      ---------
Income (loss) before
   income taxes and minority interest                  (140,266)

(Provision) benefit for income taxes                     (1,252)
Minority interests                                            -
Equity in income (loss) of subsidiaries                  (1,186)
                                                      ---------
Net income (loss)                                     ($142,704)
                                                      =========


           Kaiser Aluminum Corporation -- All Debtors
    Schedule of Consolidated Cash Receipts and Disbursements
            For the Month Ending September 30, 2004
                         (In Thousands)

Receipts:
   Trade Receivables
      KACC Receivables                                  $84,859
      KAII Receivables                                   39,435
                                                      ---------
   Total Trade Receivables                              124,294

   COBRA receipts                                           928
                                                      ---------
Total Receipts                                          125,222

Disbursements:
   Inventory/Raw Materials                               36,495
   Capital Expenditures                                     718
   QAL-related Transactions Costs                         7,680
   Payments Related to Gramercy/KJBC Disposition          1,354
   Maintenance, Materials, etc.                           7,888
   Freight                                                4,047
   Utilities/Energy                                      10,947
   Hourly Payroll                                         8,895
   Salaried Payroll                                       7,670
   Hedging Activities                                        38
   VEBA Advances                                          1,900
   Medical - Current and Former Employees                 3,953
   Annual Insurance Premiums                                464
   Workmen's Compensation                                   526
   Credit Agreement Fees                                    750
   Corporate General and Administrative                   3,435
   JV Fundings - Alumina                                 23,131
   JV Fundings - Primary, Net of Minority Interest       10,211
   Other Disbursements                                    3,651
                                                      ---------
Total Operating and G&A Disbursements                   133,753

Reorganization Items                                      5,761
                                                      ---------
Total Disbursements                                     139,514
                                                      ---------
Net Cash Flow                                           (14,292)

Beginning Bank Cash Balances                             43,279
                                                      ---------
Ending Bank Cash Balances                                28,987

Reconciling Items                                           183
                                                      ---------
Ending Book Cash Balances                               $29,170
                                                      =========

Headquartered in Houston, Texas, Kaiser Aluminum Corporation --
http://www.kaiseral.com/ -- operates in all principal aspects of  
the aluminum industry, including mining bauxite; refining bauxite
into alumina; production of primary aluminum from alumina; and
manufacturing fabricated and semi-fabricated aluminum products.
The Company filed for chapter 11 protection on February 12, 2002
(Bankr. Del. Case No. 02-10429).  Corinne Ball, Esq., at Jones
Day, represent the Debtors in their restructuring efforts. On
June 30, 2004, the Debtors listed $1.619 billion in assets and
$3.396 billion in debts.  (Kaiser Bankruptcy News, Issue No. 55;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


KAISER ALUMINUM: Earns $1.8 Million of Net Income in Oct. 2004
--------------------------------------------------------------

           Kaiser Aluminum Corporation -- All Debtors
                    Unaudited Balance Sheets
                     As of October 31, 2004
                         (In Thousands)

                             ASSETS

Cash                                                    $31,375

Receivables:
   Trade                                                112,377
   Other                                                 11,078
                                                      ---------
Total Receivables                                       123,455

Inventories                                             130,142
Prepaid expenses and other current assets                36,771
                                                      ---------
Total current assets                                    321,743

Investments in and advances to subsidiaries              59,069
Intercompany receivables/payables, net                   (4,582)
Property, plant, and equipment - net                    215,748
Deferred income taxes                                         -
Other assets                                            796,411
                                                      ---------
Total Assets                                         $1,388,389
                                                      =========

               LIABILITIES & STOCKHOLDERS' EQUITY

Liabilities not subject to compromise:
   Accounts Payable                                     $68,693
   Accrued interest                                         915
   Accrued salaries, wages and related expenses          32,993
   Accrued post retirement benefit -- current               602
   Other accrued liabilities                             93,188
   Payable to affiliates                                 45,397
   Long term debt - current portion                       1,227
                                                      ---------
Total current liabilities                               243,015

Long-term liabilities                                    21,586
Accrued postretirement benefit obligation                     -
Long-term debt                                            2,212
Liabilities subject to compromise                     2,868,454
Minority interests                                          655

Stockholders' equity:
   Preference stock                                           -
   Common stock                                             791
   Additional capital                                   538,693

Accumulated deficit - As of filing date                (946,927)
Accumulated deficit - Post filing date               (1,331,461)
Accumulated other comprehensive income (loss)            (8,629)
Note receivable from parent                                   -
                                                      ---------
Total Liabilities & Stockholders' Equity             $1,388,389
                                                      =========


           Kaiser Aluminum Corporation -- All Debtors
                    Statements of Operations
             For the Month Ending October 31, 2004
                         (In Thousands)

Net Sales                                               $98,743

Costs and expenses:
   Cost of products sold                                 82,809
   Depreciation & amortization                            1,811
   Selling, administrative, R&D and general               8,425
   Other operating charges (benefits), net                 (841)
                                                      ---------
Total costs and expenses                                 92,204
                                                      ---------
Operating income (loss)                                   6,539

Other income (expense):
   Interest expenses, net                                  (946)
   Reorganization items                                  (2,996)
   Other-net                                               (227)
                                                      ---------
Income (loss) before
   income taxes and minority interest                     2,370

(Provision) benefit for income taxes                     (1,373)
Minority interests                                            -
Equity in income (loss) of subsidiaries                     772
                                                      ---------
Net income (loss)                                        $1,769
                                                      =========


           Kaiser Aluminum Corporation -- All Debtors
    Schedule of Consolidated Cash Receipts and Disbursements
             For the Month Ending October 31, 2004
                         (In Thousands)

Receipts:
   Trade Receivables
      KACC Receivables                                  $91,116
      KAII Receivables                                   28,373
                                                      ---------
   Total Trade Receivables                              119,489

   COBRA receipts                                           622
   Proceeds from:
      Hedging Settlement                                    414
      Claim Settlement                                    9,575
      Sale of Gramercy/KJBC, net                          7,551
      Sale of Valco                                      12,208
                                                      ---------
Total Receipts                                          149,859

Disbursements:
   Inventory/Raw Materials                               35,498
   Capital Expenditures                                     771
   Environmental Settlement Payments                     27,326
   Maintenance, Materials, etc.                           4,439
   Freight                                                3,668
   Utilities/Energy                                      11,281
   Hourly Payroll                                         7,093
   Salaried Payroll                                       3,490
   Hedging Activities                                       104
   VEBA Advances                                          1,900
   Medical - Current and Former Employees                 3,538
   Annual Insurance Premiums                                750
   Workmen's Compensation                                   623
   Credit Agreement Fees                                    750
   Corporate General and Administrative                   2,354
   JV Fundings - Alumina                                 10,961
   JV Fundings - Primary, Net of Minority Interest        9,687
   JV Fundings - Valco End of Service Benefit             9,958
   Other Disbursements                                    9,977
                                                      ---------
Total Operating and G&A Disbursements                   144,168

Reorganization Items                                      3,427
                                                      ---------
Total Disbursements                                     147,595
                                                      ---------
Net Cash Flow                                             2,264

Beginning Bank Cash Balances                             28,987
                                                      ---------
Ending Bank Cash Balances                                31,251

Reconciling Items                                           124
                                                      ---------
Ending Book Cash Balances                               $31,375
                                                      =========

Headquartered in Houston, Texas, Kaiser Aluminum Corporation --
http://www.kaiseral.com/ -- operates in all principal aspects of  
the aluminum industry, including mining bauxite; refining bauxite
into alumina; production of primary aluminum from alumina; and
manufacturing fabricated and semi-fabricated aluminum products.
The Company filed for chapter 11 protection on February 12, 2002
(Bankr. Del. Case No. 02-10429).  Corinne Ball, Esq., at Jones
Day, represent the Debtors in their restructuring efforts. On
June 30, 2004, the Debtors listed $1.619 billion in assets and
$3.396 billion in debts.  (Kaiser Bankruptcy News, Issue No. 55;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


NEWPOWER HOLDINGS: Files October 2004 Monthly Operating Report
--------------------------------------------------------------
On Dec. 2, 2004, NewPower Holdings, Inc., filed its October 2004
Monthly Operating Report with the U.S. Bankruptcy Court for
the Northern District of Georgia, Newnan Division.  The company
reports an opening cash balance of $92,407,000 and a closing cash
balance of $57,062,000.

A full-text copy of NewPower Holdings' October 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1119307/000090514804005151/efc4-2155_exh991.txt


The Company filed for chapter 11 protection on June 11, 2002
(Bankr. N.D. Ga. 02-10836). Paul K. Ferdinands, Esq., at King &
Spalding and William M. Goldman, Esq., at Sidley Austin Brown &
Wood LLP represent the Debtors. When the Debtors filed for
chapter 11 protection, it reported asset amounting to $231,837,000
and debts at $87,936,000.

On August 15, 2003, the United States Bankruptcy Court for the
Northern District of Georgia, Newnan Division, confirmed the
Second Amended Chapter 11 Plan with respect to NewPower Holdings,
Inc. and TNPC Holdings, Inc., a wholly owned subsidiary of the
Company. On February 28, 2003, the Bankruptcy Court previously
confirmed the Plan, and the Plan has been effective as of
March 11, 2003, with respect to The New Power Company, a wholly
owned subsidiary of the Company. The Plan became effective on
October 9, 2003 with respect to the Company and TNPC.


RCN CORPORATION: Posts $18.8 Million Net Loss in October 2004
-------------------------------------------------------------

           RCN Corporation, Hot Spots Production, Inc.,
    RCN Finance, LLC, RLH Property Corporation, TEC Air, Inc.,
     RCN Cable TV of Chicago, Inc., RCN Entertainment, Inc.,
       ON TV, Inc., and 21st Century Telecom Services, Inc.
                     (Debtors-in-Possession)
     Unaudited Condensed Combined Consolidated Balance Sheets
                      As of October 31, 2004
                          (In Thousands)

ASSETS

Current Assets:
Cash and temporary cash investments                        $815
Other current assets                                      4,329
                                                    -----------
Total current assets                                      5,144

Accounts receivable from non-combined subsidiaries      237,678
Investment in and advances to
   non-combined subsidiaries                          1,447,632
Deferred charges and other assets                       249,854
                                                    -----------
Total assets                                         $1,940,308
                                                    ===========

LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities:
Current maturities of long-term debt                   $438,928
Accounts payable and accrued expenses                     6,149
                                                    -----------
Total current liabilities                               445,077
Accounts payable to non-combined subsidiaries           829,103
Prepetition liabilities subject to compromise
Liabilities subject to compromise                     1,205,165
Series A redeemable Preferred stock                     350,362
Series B redeemable Preferred stock                   1,474,850

Shareholders' deficit:
Common stock                                            123,588
Additional paid in capital                            2,153,942
Cumulative translation adjustment                       (17,288)
Unearned compensation expense                               (61)
Treasury stock                                          (10,168)
Unrealized appreciation on investments                     (103)
Accumulated deficit                                  (4,614,159)
                                                    -----------
Total shareholders' deficit                          (2,364,249)
                                                    -----------
Total liabilities and shareholders' deficit          $1,940,308
                                                    ===========


           RCN Corporation, Hot Spots Production, Inc.,
    RCN Finance, LLC, RLH Property Corporation, TEC Air, Inc.,
     RCN Cable TV of Chicago, Inc., RCN Entertainment, Inc.,
       ON TV, Inc., and 21st Century Telecom Services, Inc.
                     (Debtors-in-Possession)
       Unaudited Condensed Combined Statement of Operations
     For the period October 1, 2004 through October 31, 2004
                          (In Thousands)

Revenues                                                   $146
Costs and expenses                                          490
Non-cash stock based compensation                           356
Depreciation and amortization                                 -
Reorganization items                                      2,583
                                                    -----------
Operating loss                                           (3,283)

Interest expense                                          3,586
Other expense                                               340
                                                    -----------
Loss before income taxes                                 (7,209)
(Benefit)/provisions for income taxes                        68
Equity in the income of non-combined subsidiaries       (11,510)
                                                    -----------
Net loss                                               ($18,787)
                                                    ===========


           RCN Corporation, Hot Spots Production, Inc.,
    RCN Finance, LLC, RLH Property Corporation, TEC Air, Inc.,
     RCN Cable TV of Chicago, Inc., RCN Entertainment, Inc.,
       ON TV, Inc., and 21st Century Telecom Services, Inc.
                     (Debtors-in-Possession)
       Unaudited Condensed Combined Statement of Cash Flows
     For the period October 1, 2004 through October 31, 2004
                          (In Thousands)

Cash flows from operating activities:
   Net loss                                            ($18,787)
   Non-cash stock based compensation                        356
   Depreciation and amortization                              -
   Equity loss of non-combined subsidiaries              11,510
   Accretion of discounted debt                             349
   Amortization of financing costs                          537
                                                    -----------
Net cash used in operating activities                    (6,035)

Cash flows from financing activities:
   Payment of long-term debt                                  -
   Investments from non-combined subsidiaries             6,034
                                                    -----------
Net cash provided by financing activities                 6,034
                                                    -----------
Net increase (decrease) in cash and
   temporary cash investments                                (1)
                                                    -----------
Beginning cash & temporary cash investments                 816
                                                    -----------
Ending cash & temporary cash investments                   $815
                                                    ===========

Headquartered in Princeton, New Jersey, RCN Corporation --
http://www.rcn.com/ -- provides bundled Telecommunications
services. The Company, along with its affiliates, filed for
chapter 11 protection (Bankr. S.D.N.Y. Case No. 04-13638) on
May 27, 2004. Frederick D. Morris, Esq., and Jay M. Goffman,
Esq., at Skadden Arps Slate Meagher & Flom LLP, represent the
Debtors in their restructuring efforts. When the Debtors filed
for protection from their creditors, they listed $1,486,782,000 in
assets and $1,820,323,000 in liabilities.  (RCN Corp. Bankruptcy
News, Issue No. 16; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


TRENWICK GROUP: Posts $4,362,168 Net Loss in September 2004
-----------------------------------------------------------
On Oct. 20, 2004, Trenwick America Corporation, Trenwick
Group Ltd. and LaSalle Re Holdings Limited filed monthly operating
reports for the month ended Sept. 30, 2004, and the period from
Aug. 20, 2003 to Sept. 30, 2004, with the United States Bankruptcy
Court for the District of Delaware.

Trenwick Group Ltd. (Bankr. D. Del. Case No. 03-12636), reports a
$4,362,168 net loss for the month ended September 2004, and a
cumulative $98,109,747 loss for the period from August 20, 2003 to
September 30, 2004.

A full-text copy of Trenwick Group Ltd.'s September 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1122211/000116923204005969/d61525_ex99-1.txt

Trenwick America Corporation (Bankr. D. Del. Case No. 03-12635)
reports a $5,329,257 net loss in September 2004 and a cumulative
$71,457,466 loss during the course of its chapter 11
restructuring.

A full-text copy of Trenwick America's September 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1127783/000116923204005971/d61526_ex99-1.txt

LaSalle Re Holdings Limited (Bankr. D. Del. Case No. 03-12637)
reports a $1,111,069 net profit in September 2004 and a cumulative
$4,923,338 post-petition loss.

A full-text copy of LaSalle's September 2004 Monthly Operating
Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1001384/000116923204005972/d61527_ex99-1.txt

On August 20, 2003, TGL and LaSalle Re Holdings Limited filed
insolvency proceedings in the Supreme Court of Bermuda.  On
Aug. 22, 2003, the Bermuda Court granted an order appointing
Michael Morrison and John Wardrop, partners of KPMG in Bermuda and
KPMG LLP in the United Kingdom, respectfully, as Joint Provisional
Liquidators in respect of TGL and LaSalle.  The Bermuda Court
granted the JPLs the power to oversee the continuation and
reorganization of these companies' businesses under the control of
their boards of directors and under the supervision of the
Bankruptcy Court and the Bermuda Court.  The JPLs have not audited
the contents of this report.

As reported in the Troubled Company Reporter on Nov. 23, 2004, the
Honorable Mary F. Walrath of the United States Bankruptcy
Court for the District of Delaware entered an order dismissing
Trenwick Group Ltd. and LaSalle Re Holdings' chapter 11 case,
jointly administered under Trenwick America Corporation.

The Order will not take effect until the joint provisional
liquidators assume full control of the Debtors' business.


TRENWICK GROUP: Earns $13,241,915 of Net Income in October 2004
---------------------------------------------------------------
On Nov. 22, 2004, Trenwick America Corporation, Trenwick Group
Ltd. and LaSalle Re Holdings Limited filed monthly operating
reports for the month ended Oct. 31, 2004, and the period from
Aug. 20, 2003 to Oct. 31, 2004, with the United States Bankruptcy
Court for the District of Delaware.

Trenwick Group Ltd. (Bankr. D. Del. Case No. 03-12636), reports a
$13,241,915 net income for the month ended October 2004, and a
cumulative $84,867,832 loss for the period from August 20, 2003 to
October 31, 2004.

A full-text copy of Trenwick Group Ltd.'s October 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1122211/000116923204005984/d61530_ex99-1.txt

Trenwick America Corporation (Bankr. D. Del. Case No. 03-12635)
reports a $12,622,523 net income in October 2004 and a cumulative
$58,834,943 loss during the course of its chapter 11
restructuring.

A full-text copy of Trenwick America's October 2004 Monthly
Operating Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1127783/000116923204005985/d61531_ex99-1.txt

LaSalle Re Holdings Limited (Bankr. D. Del. Case No. 03-12637)
reports a $730,916 net profit in October 2004 and a cumulative
$4,192,422 post-petition loss.

A full-text copy of LaSalle's October 2004 Monthly Operating
Report is available at no charge at:

   http://www.sec.gov/Archives/edgar/data/1001384/000116923204005986/d61532_ex99-1.txt

On August 20, 2003, TGL and LaSalle Re Holdings Limited filed
insolvency proceedings in the Supreme Court of Bermuda.  On
Aug. 22, 2003, the Bermuda Court granted an order appointing
Michael Morrison and John Wardrop, partners of KPMG in Bermuda and
KPMG LLP in the United Kingdom, respectfully, as Joint Provisional
Liquidators in respect of TGL and LaSalle.  The Bermuda Court
granted the JPLs the power to oversee the continuation and
reorganization of these companies' businesses under the control of
their boards of directors and under the supervision of the
Bankruptcy Court and the Bermuda Court.  The JPLs have not audited
the contents of this report.

As reported in the Troubled Company Reporter on Nov. 23, 2004, the
Honorable Mary F. Walrath of the United States Bankruptcy
Court for the District of Delaware entered an order dismissing
Trenwick Group Ltd. and LaSalle Re Holdings' chapter 11 case,
jointly administered under Trenwick America Corporation.

The Order will not take effect until the joint provisional
liquidators assume full control of the Debtors' business.


WESTPOINT STEVENS: WP Stevens I Posts $5 Mil. Net Loss in October
-----------------------------------------------------------------

                     WESTPOINT STEVENS, INC., I
                           Balance Sheet
                        At October 31, 2004
                           (in thousands)

                               Assets

Current Assets
    Cash and cash equivalents                               $326
    Accounts receivable - intercompany                    25,535
    Inventories                                            7,649
    Prepaid expenses and other current assets                  -
                                                      ----------
Total current assets                                      33,510

Total investments and other assets                       124,052
Property, Plant and Equipment, net                        12,257
Goodwill                                                       -
                                                      ----------
TOTAL ASSETS                                            $169,819
                                                      ==========

            Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise
    Senior Credit Facility                                     -
    DIP Credit Agreement                                       -
    Long-term debt classified as current                       -
    Accrued interest payable                                   -
    Accounts payable - trade                                $717
    Accounts payable - intercompany                            -
    Other accrued liabilities                             14,683
    Deferred income taxes                                      -
    Pension and other liabilities                              -
                                                      ----------
Total Liabilities Not Subject to Compromise               15,400


Liabilities Subject to Compromise
    Senior notes                                               -
    Deferred financing fees                                    -
    Accrued interest payable on Senior Notes                   -
    Accounts payable                                       1,437
    Other payables and accrued liabilities                     -
    Pension and other liabilities                              -
                                                      ----------

Total Liabilities Subject to Compromise                    1,437
                                                      ----------
Total Liabilities                                         16,837

Shareholders' Equity (Deficit)
    Equity of subsidiaries                                     -
    Common stock                                               1
    Capital surplus/Treasury Stock                        70,559
    Retained earnings (deficit)                           82,422
    Minimum pension liability adjustment                       -
    Other adjustments                                          -
    Unearned compensation                                      -
                                                      ----------
Shareholders' Equity (Deficit)                           152,982
                                                      ----------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)      $169,819
                                                      ==========


                      WESTPOINT STEVENS, INC., I
                        Statement of Operations
                     Month Ended October 31, 2004
                            (in thousands)

Net sales                                                $11,544
Cost of goods sold                                         7,640
                                                      ----------
    Gross earnings                                         3,904

Selling and administrative expenses
    Selling expenses                                           8
    Warehousing and shipping                                 271
    Advertising                                                -
    Division administrative expense                            -
    MIS expense                                                -
    Corporate administrative expense                         170
                                                      ----------
Total selling and administrative expense                     449

Restructuring and impairment charge                            -
Goodwill impairment charge                                     -
                                                      ----------
    Operating earnings (loss)                              3,455

Interest expense
    Interest expense - outside                                 -
    Capitalized interest expense                               -
    Interest expense - intercompany                            -
    Interest income                                            -
    Interest income - intercompany                           472
                                                      ----------
Net interest expense                                        (472)

Other expense
    Miscellaneous                                              -
    Royalties - intercompany                                 190
    Transaction gain/loss                                      -
                                                      ----------
Total other expense                                          190

Other income
    Royalties - intercompany                               4,045
    Dividends                                                  -
    Sale of assets                                             -
    Miscellaneous                                              -
                                                      ----------
Total other income                                         4,045
                                                      ----------
Net other expense                                         (3,855)
                                                      ----------
Income (loss) before Chapter 11 reorganization
    expenses and income taxes (benefit) and
    extraordinary items                                    7,782

Chapter 11 reorganization expenses                             -

Income tax expense (benefit)                               2,728

Extraordinary item - net of taxes                              -
                                                      ----------
     Net Income (loss)                                    $5,054
                                                      ==========


                      WESTPOINT STEVENS, INC., I
                        Statement of Cash Flows
                     Month Ended October 31, 2004
                            (in thousands)

Cash flows from operations:
Net income (loss)                                         $5,054
Non-cash items
    Depreciation and amortization                             93
Working Capital Changes
    Decrease/(increase) - a/r (customers)                      -
    Decrease/(increase) - a/r (intercompany)             (10,481)
    Decrease/(increase) - inventories                      2,634
    Decrease/(increase) - other current assets
    Decrease/(increase) - other non-current assets             -
    Increase/(decrease) - accounts payable (trade)          (142)
    Increase/(decrease) - a/p (intercompany)                   -
    Increase/(decrease) - accrued liabilities              3,244
    Increase/(decrease) - accrued interest payable             -
    Increase/(decrease) - pension & other liabilities          -
    Increase/(decrease) - deferred federal income tax          -
                                                      ----------
Total cash flows from operations                             402

Cash flows from investing activities:
   Capital expenditures                                     (111)

    Transfers                                                  -
    Net proceeds from sale of assets                           -
                                                      ----------
Total cash flows from investing                             (111)

Cash flows from financing activities:
    Increase/(decrease)- DIP Credit Agreement                  -
                                                      ----------
Total cash flows from financing                                -

Beginning cash balance                                        35
Change in cash                                               291
                                                      ----------
Ending cash balance                                         $326
                                                      ==========
Headquartered in West Point, Georgia, WestPoint Stevens, Inc., --
http://www.westpointstevens.com/-- is the #1 US maker of bed
linens and bath towels and also makes comforters, blankets,
pillows, table covers, and window trimmings. It makes the Martex,
Utica, Stevens, Lady Pepperell, Grand Patrician, and Vellux
brands, as well as the Martha Stewart bed and bath lines; other
licensed brands include Ralph Lauren, Disney, and Joe Boxer.
Department stores, mass retailers, and bed and bath stores are its
main customers. (Federated, J.C. Penney, Kmart, Sears, and Target
account for more than half of sales.) It also has nearly 60 outlet
stores. Chairman and CEO Holcombe Green controls 8% of WestPoint
Stevens. The Company filed for chapter 11 protection on
June 1, 2003 (Bankr. S.D.N.Y. Case No. 03-13532). John J.
Rapisardi, Esq., at Weil, Gotshal & Manges, LLP, represents the
Debtors in their restructuring efforts. (WestPoint Bankruptcy
News, Issue No. 34; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


WESTPOINT STEVENS: JP Stevens & Co.'s October Operating Report
--------------------------------------------------------------

                      J.P. STEVENS & CO., INC.
                           Balance Sheet
                        At October 31, 2004
                           (in thousands)

                               Assets

Current Assets
    Cash and cash equivalents                                  -
    Accounts receivable - intercompany                  $110,749
    Prepaid expenses and other current assets                  -
                                                      ----------
Total current assets                                     110,749

Total investments & other assets                           2,697
Goodwill                                                       -
                                                      ----------
TOTAL ASSETS                                            $113,446
                                                      ==========

            Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise
    Accounts payable - intercompany                            -
    Other accrued liabilities                                  -
    Deferred income taxes                                      -
    Pension and other liabilities                              -
                                                      ----------
Total Liabilities Not Subject to Compromise                    -
  
Liabilities Subject to Compromise                              -

Shareholders' Equity (Deficit)
    Equity of subsidiaries                               $10,503
    Common stock                                               -
    Capital surplus/Treasury Stock                             -
    Retained earnings (deficit)                          102,943
    Minimum pension liability adjustment                       -
    Other adjustments                                          -
    Unearned compensation                                      -
                                                      ----------
Stockholders' Equity (Deficit)                           113,446
                                                      ----------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)      $113,446
                                                      ==========

J.P. Stevens & Co., Inc., reports no income and cash flow for
October 2004.

Headquartered in West Point, Georgia, WestPoint Stevens, Inc., --
http://www.westpointstevens.com/-- is the #1 US maker of bed
linens and bath towels and also makes comforters, blankets,
pillows, table covers, and window trimmings. It makes the Martex,
Utica, Stevens, Lady Pepperell, Grand Patrician, and Vellux
brands, as well as the Martha Stewart bed and bath lines; other
licensed brands include Ralph Lauren, Disney, and Joe Boxer.
Department stores, mass retailers, and bed and bath stores are its
main customers. (Federated, J.C. Penney, Kmart, Sears, and Target
account for more than half of sales.) It also has nearly 60 outlet
stores. Chairman and CEO Holcombe Green controls 8% of WestPoint
Stevens. The Company filed for chapter 11 protection on
June 1, 2003 (Bankr. S.D.N.Y. Case No. 03-13532). John J.
Rapisardi, Esq., at Weil, Gotshal & Manges, LLP, represents the
Debtors in their restructuring efforts. (WestPoint Bankruptcy
News, Issue No. 34; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


WESTPOINT STEVENS: JP Stevens Enterprises' Oct. Operating Report
----------------------------------------------------------------

                    J.P. STEVENS ENTERPRISES, INC.
                            Balance Sheet
                         At October 31, 2004
                            (in thousands)

                                Assets

Current Assets
    Cash and cash equivalents                                $18
    Accounts receivable - intercompany                    16,851
    Prepaid expenses and other current assets                  -
                                                      ----------
Total current assets                                      16,869

Total investments & other assets                               -
Goodwill                                                       -
                                                      ----------
TOTAL ASSETS                                             $16,869
                                                      ==========

           Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise:
    Accounts payable - intercompany                            -
    Other accrued liabilities                               $277
    Deferred income taxes                                      -
    Pension and other liabilities                              -
                                                      ----------
Total Liabilities Not Subject to Compromise                  277

Liabilities Subject to Compromise                              -
                                                      ----------
Total Liabilities                                            277

Shareholders' Equity (Deficit)
    Equity of subsidiaries                                     -
    Common stock                                               2
    Capital surplus/Treasury Stock                             -
    Retained earnings (deficit)                           16,590
    Minimum pension liability adjustment                       -
    Other adjustments                                          -
    Unearned compensation                                      -
                                                      ----------
Stockholders' Equity (Deficit)                            16,592
                                                      ----------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)       $16,869
                                                      ==========


                    J.P. STEVENS ENTERPRISES, INC.
                       Statement of Operations
                    Month Ended October 31, 2004
                            (in thousands)

Net sales                                                      -
Cost of goods sold                                             -
                                                      ----------
    Gross earnings                                             -

Selling and administrative expenses
    Selling expenses                                          $3
    Warehousing and shipping                                   -
    Advertising                                                -
    Division administrative expense                            -
    MIS expense                                                -
    Corporate administrative expense                           -
                                                      ----------
Total selling and administrative expense                       3
Restructuring and impairment charge                            -
Goodwill impairment charge                                     -
                                                      ----------
    Operating earnings (loss)                                 (3)

Interest expense
    Interest expense - outside                                 -
    Capitalized interest expense                               -
    Interest expense - intercompany                            -
    Interest income                                            -
    Interest income - intercompany                            87
                                                      ----------
Net interest expense                                         (87)

Other expense
    Miscellaneous                                              -
    Royalties - intercompany                                   -
    Transaction gain/loss                                      -
                                                      ----------
Total other expense                                            -

Other income
    Royalties - intercompany                                 190
    Dividends                                                  -
    Sale of assets                                             -
    Miscellaneous                                              -
                                                      ----------
Total other income                                           190
                                                      ----------
Net other expense                                           (190)
                                                      ----------
Income (loss) before Chapter 11 reorganization
    expenses and income taxes (benefit) and
    extraordinary items                                      274

Chapter 11 reorganization expenses                             -

Income tax expense (benefit)                                  96

Extraordinary item - net of taxes                              -
                                                      ----------
    Net Income (loss)                                       $178
                                                      ==========


                    J.P. STEVENS ENTERPRISES, INC.
                       Statement of Cash Flows
                    Month Ended October 31, 2004
                            (in thousands)

Cash flows from operations:
Net income (loss)                                           $178
Non-cash items
    Depreciation and amortization                              -
Working Capital Changes
    Decrease/(increase) - a/r (intercompany)                (271)
    Decrease/(increase) - inventories                          -
    Decrease/(increase) - other current assets                 -
    Decrease/(increase) - other non-current assets             -
    Increase/(decrease) - accounts payable (trade)             -
    Increase/(decrease) - a/p (intercompany)                   -
    Increase/(decrease) - accrued liabilities                 96
    Increase/(decrease) - accrued interest payable             -
    Increase/(decrease) - pension & other liabilities          -
    Increase/(decrease) - deferred federal income tax          -
                                                      ----------
Total cash flows from operations                               3

Cash flows from investing activities
    Capital expenditures                                       -
    Net proceeds from sale of assets                           -
                                                      ----------
Total cash flows from investing                                -

Cash flows from financing activities
    Increase/(decrease)- DIP Credit Agreement                  -
                                                      ----------
Total cash flows from financing                                -

Beginning cash balance                                        15
Change in cash                                                 3
                                                      ----------
Ending cash balance                                          $18
                                                      ==========

Headquartered in West Point, Georgia, WestPoint Stevens, Inc., --
http://www.westpointstevens.com/-- is the #1 US maker of bed
linens and bath towels and also makes comforters, blankets,
pillows, table covers, and window trimmings. It makes the Martex,
Utica, Stevens, Lady Pepperell, Grand Patrician, and Vellux
brands, as well as the Martha Stewart bed and bath lines; other
licensed brands include Ralph Lauren, Disney, and Joe Boxer.
Department stores, mass retailers, and bed and bath stores are its
main customers. (Federated, J.C. Penney, Kmart, Sears, and Target
account for more than half of sales.) It also has nearly 60 outlet
stores. Chairman and CEO Holcombe Green controls 8% of WestPoint
Stevens. The Company filed for chapter 11 protection on
June 1, 2003 (Bankr. S.D.N.Y. Case No. 03-13532). John J.
Rapisardi, Esq., at Weil, Gotshal & Manges, LLP, represents the
Debtors in their restructuring efforts. (WestPoint Bankruptcy
News, Issue No. 34; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


WESTPOINT STEVENS: WP Stevens Stores' October Operating Report
--------------------------------------------------------------

                   WESTPOINT STEVENS STORES, INC.
                           Balance Sheet
                        At October 31, 2004
                           (in thousands)

                               Assets

Current Assets
    Cash and cash equivalents                             $1,550
    Accounts receivable - customers                          208
    Accounts receivable - intercompany                     5,014
    Total Inventories                                     21,940
    Prepaid expenses and other current assets                894
                                                      ----------
Total current assets                                      29,606


Total investments & other assets                               -
Goodwill                                                       -
Property, plant and equipment, net                         2,279
                                                      ----------
TOTAL ASSETS                                             $31,885
                                                      ==========

            Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise
    Accounts payable - trade                                $631
    Accounts payable -intercompany                             -
    Other accrued liabilities                              6,183
    Deferred income taxes                                      -
    Pension and other liabilities                              -
                                                      ----------
Total Liabilities Not Subject to Compromise                6,814
                                                      ----------
Liabilities Subject to Compromise
    Accounts payable                                       1,675
                                                      ----------
Total Liabilities                                          8,489

Shareholders' Equity (Deficit)
    Equity of subsidiaries                                     -
    Common stock                                               1
    Capital surplus/Treasury Stock                        15,955
    Retained earnings (deficit)                            7,440
    Minimum pension liability adjustment                       -
    Other adjustments                                          -
    Unearned compensation                                      -
                                                      ----------
Stockholders' Equity (Deficit)                            23,396
                                                      ----------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)       $31,885
                                                      ==========


                   WESTPOINT STEVENS STORES, INC.
                      Statement of Operations
                   Month Ended October 31, 2004
                           (in thousands)


Net sales                                                 $7,681
Cost of goods sold                                         4,542
                                                      ----------
    Gross earnings                                         3,139

Selling and administrative expenses
    Selling expenses                                       2,268
    Warehousing and shipping                                 238
    Advertising                                              222
    Division administrative expense                          298
    MIS expense                                               69
    Corporate administrative expense                         103
                                                      ----------
Total selling and administrative expense                   3,198
Restructuring and impairment charge                            -
Goodwill impairment charge                                     -
                                                      ----------
    Operating earnings (loss)                                (59)

Interest expense
    Interest expense - outside                                 -
    Capitalized interest expense                               -
    Interest expense - intercompany                          193
    Interest income                                            -
    Interest income - intercompany                             -
                                                      ----------
Net interest expense                                         193

Other expense
    Miscellaneous                                              -
    Royalties - intercompany                                   -
    Transaction gain/loss                                      -
                                                      ----------
Total other expense                                            -

Other income
    Royalties Intercompany                                     -
    Dividends                                                  -
    Sale of assets                                             -
    Miscellaneous                                              -
                                                      ----------
Total other income                                             -
                                                      ----------
Net other expense                                              -
                                                      ----------
Income (loss) before Chapter 11 reorganization
    expenses and income taxes (benefit) and
    extraordinary items                                     (252)

Chapter 11 reorganization expenses                             -
Income tax expense (benefit)                                 (88)

Extraordinary item - net of taxes                              -
                                                      ----------
    Net Income (loss)                                      ($164)
                                                      ==========


                   WESTPOINT STEVENS STORES, INC.
                      Statement of Cash Flows
                   Month Ended October 31, 2004
                           (in thousands)

Cash flows from operations:
Net income (loss)                                          ($164)
Non-cash items
    Depreciation and amortization                             67
    Gain on sale of assets                                     -
Working Capital Changes
    Decrease/(increase) - a/r (customers)                    (37)
    Decrease/(increase) - a/r (intercompany)                 678
    Decrease/(increase) - inventories                       (676)
    Decrease/(increase) - other current assets              (146)
    Decrease/(increase) - other non-current assets             -
    Increase/(decrease) - accounts payable (trade)            (6)
    Increase/(decrease) - a/p (intercompany)                   -
    Increase/(decrease) - accrued liabilities                740
    Increase/(decrease) - accrued interest payable             -
    Increase/(decrease) - pension & other liabilities          -
    Increase/(decrease) - deferred federal income tax          -
                                                      ----------
Total cash flows from operations                             456

Cash flows from investing activities
    Capital expenditures                                      27
    Transfers                                                  -
    Net proceeds from sale of assets                           -
                                                      ----------
Total cash flows from investing                               27

Cash flows from financing activities
    Increase/(decrease)- DIP Credit Agreement                  -
                                                      ----------
Total cash flows from financing                                -

Beginning cash balance                                     1,067
Change in cash                                               483
                                                      ----------
Ending cash balance                                       $1,550
                                                      ==========

Headquartered in West Point, Georgia, WestPoint Stevens, Inc., --
http://www.westpointstevens.com/-- is the #1 US maker of bed
linens and bath towels and also makes comforters, blankets,
pillows, table covers, and window trimmings. It makes the Martex,
Utica, Stevens, Lady Pepperell, Grand Patrician, and Vellux
brands, as well as the Martha Stewart bed and bath lines; other
licensed brands include Ralph Lauren, Disney, and Joe Boxer.
Department stores, mass retailers, and bed and bath stores are its
main customers. (Federated, J.C. Penney, Kmart, Sears, and Target
account for more than half of sales.) It also has nearly 60 outlet
stores. Chairman and CEO Holcombe Green controls 8% of WestPoint
Stevens. The Company filed for chapter 11 protection on
June 1, 2003 (Bankr. S.D.N.Y. Case No. 03-13532). John J.
Rapisardi, Esq., at Weil, Gotshal & Manges, LLP, represents the
Debtors in their restructuring efforts. (WestPoint Bankruptcy
News, Issue No. 34; Bankruptcy Creditors' Service, Inc.,
215/945-7000)

                          *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                          *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published by  
Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania,  
USA, and Beard Group, Inc., Frederick, Maryland USA. Yvonne L.  
Metzler, Emi Rose S.R. Parcon, Rizande B. Delos Santos, Jazel P.
Laureno, Cherry Soriano-Baaclo, Marjorie Sabijon, Terence Patrick
F. Casquejo and Peter A. Chapman, Editors.

Copyright 2004.  All rights reserved.  ISSN: 1520-9474.

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