TCR_Public/050115.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, January 15, 2005, Vol. 9, No. 12

                          Headlines

ATA AIRLINES: Posts $14.5 Million Net Loss for November 2004
CATHOLIC CHURCH: Portland Files July 2004 Monthly Operating Report
CATHOLIC CHURCH: Portland Files Aug. 2004 Monthly Operating Report
CATHOLIC CHURCH: Portland Files September Monthly Operating Report
CATHOLIC CHURCH: Portland Files Oct. 2004 Monthly Operating Report

CATHOLIC CHURCH: Portland Files Nov. 2004 Monthly Operating Report
CATHOLIC CHURCH: Tucson Files Nov. 2004 Monthly Operating Report
DAN RIVER: Posts $4.8 Million Net Loss in November 2004
FEDERAL-MOGUL: Posts $28 Million Net Loss in November 2004
NEWPOWER HOLDINGS: Files November 2004 Monthly Operating Report

OWENS CORNING: Reports $6.5 Million Net Loss in July 2004
OWENS CORNING: Reports $14 Million Net Loss in August 2004
OWENS CORNING: Earns $2.4 Million of Net Income in September 2004
OWENS CORNING: Earns $1.7 Million of Net Income in October 2004
PARMALAT: Farmland Dairies' November 2004 Monthly Operating Report

PARMALAT: Finanziaria Reports October 2004 Financial Results
PARMALAT: Finanziaria Reports November 2004 Financial Results
PARMALAT: Milk Products' November 2004 Monthly Operating Report
PARMALAT: Releases Monthly Operating Report Ended Nov. 20, 2004
SOLUTIA INC: Posts $14 Million Net Loss for October 2004

SOLUTIA INC: Posts $18 Million Net Loss for November 2004
SONICBLUE INC: Releases September 2004 Monthly Operating Report
THAXTON GROUP: Nov. 30 Balance Sheet Upside-Down by $11.9 Million
TRUMP HOTELS: Earns $4.9 Million of Net Income in November 2004
WESTPOINT STEVENS: Posts $12.6 Million Net Loss in November 2004

WESTPOINT STEVENS: WP Stevens I Posts $4.4 Mil. Net Income in Nov.
WESTPOINT STEVENS: JP Stevens & Co.'s November Operating Report
WESTPOINT STEVENS: JP Stevens Enterprises' Nov. Operating Report
WESTPOINT STEVENS: WP Stevens Stores' November Operating Report

                          *********

ATA AIRLINES: Posts $14.5 Million Net Loss for November 2004
------------------------------------------------------------

               ATA Holdings Corp. and Subsidiaries
                     Unaudited Balance Sheet
                     As of November 30, 2004

Assets

Current assets
   Cash and cash equivalents                        $85,186,000
   Receivables,
     net of allowance for doubtful accounts         123,933,000
   Inventories, net                                  50,499,000
   Prepaid expenses and other current assets         31,304,000
                                                 --------------
      TOTAL CURRENT ASSETS                          290,922,000

Property and equipment
   Flight equipment                                 328,719,000
   Facilities and ground equipment                  149,765,000
   Accumulated depreciation                        (246,614,000)
                                                 --------------
      TOTAL PROPERTY, PLANT AND EQUIPMENT           231,870,000

   Restricted cash                                   28,137,000
   Goodwill                                          14,887,000
   Prepaid aircraft rent                            131,958,000
   Investment in BATA                                12,826,000
   Deposits and other assets                         47,449,000
                                                 --------------
      TOTAL ASSETS                                 $758,049,000
                                                 ==============

Liabilities and Shareholders' Deficit

Current liabilities
   Long-term debt in default                                  -
   DIP Financing (Note 1)                            15,000,000
   Accounts payable                                   6,880,000
   Air traffic liabilities                           85,708,000
   Accrued expenses                                 100,697,000
                                                 --------------
      Total current liabilities                     208,285,000

   Long-term debt                                             -
   Deferred gains from sale & leaseback of aircraft           -
   Other deferred items                               1,432,000
   Mandatorily redeemable preferred stock                     -
                                                 --------------
      TOTAL LIABILITIES                             209,717,000

   Liabilities subject to compromise                782,913,000
   Commitments and contingencies
     Convertible redeemable preferred stock          30,000,000

Shareholders' Equity (deficit)
   Preferred stock; authorized 9,999,200 shares               -
   Common stock, without par value                   66,233,000
   Treasury stock                                   (24,778,000)
   Additional paid-in capital                        17,945,000
   Accumulated deficit                             (323,981,000)
                                                 --------------
     TOTAL SHAREHOLDERS' DEFICIT                   (264,581,000)
                                                 --------------
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT        $758,049,000
                                                 ==============


               ATA Holdings Corp. and Subsidiaries
                    Unaudited Income Statement
              For the Month Ended November 30, 2004

Operating revenues:
   Scheduled service                                $76,405,000
   Charter                                           32,803,000
   Ground package                                     1,366,000
   Other                                              5,040,000
                                                 --------------
      TOTAL OPERATING REVENUES                      115,614,000

Operating expenses:
   Fuel and oil                                      33,316,000
   Salaries, wages and benefits                      33,022,000
   Aircraft rentals                                  19,972,000
   Handling, landing and navigation fees              8,607,000
   Aircraft maintenance, materials and repairs        4,700,000
   Crew and other employee travel                     4,289,000
   Depreciation and amortization                      4,053,000
   Other selling expenses                             3,416,000
   Passenger service                                  3,415,000
   Facilities and other rentals                       2,490,000
   Commissions                                        2,264,000
   Insurance                                          1,815,000
   Ground package cost                                1,181,000
   Advertising                                          403,000
   U.S. Government Funds                                      -
   Other                                              4,435,000
                                                 --------------
      TOTAL OPERATING EXPENSES                      127,378,000
                                                 --------------
Operating income (loss)                            (11,764,000)

Other income (expense)
   Interest income                                      155,000
   Interest expense                                  (1,315,000)
   Loss on extinguishment of debt                             -
   Other                                               (170,000)
                                                 --------------
      TOTAL OTHER EXPENSE                            (1,330,000)
                                                 --------------
Income (loss) before income taxes and
  reorganization expenses                           (13,094,000)

Reorganization expenses                               1,363,000
Income taxes                                             29,000
                                                 --------------
NET INCOME (LOSS)                                  ($14,486,000)
                                                 ==============


               ATA Holdings Corp. and Subsidiaries
                         Cash Flow Report
              For the Month Ended November 30, 2004

Cash Flows from Operating Activities:
Net income                                         ($13,123,000)
Reorganization items                                 (1,363,000)

Adjustments to reconcile net income:
   Depreciation and amortization                      4,053,000
   Other non-cash items                                 295,000

Changes in operating assets and liabilities:
   Receivables                                       28,144,000
   Inventories                                         (998,000)
   Prepaid expenses                                   1,621,000
   Accounts payable                                   4,725,000
   Air traffic liabilities                          (25,575,000)
   Liabilities Subject to Compromise                 10,221,000
   Accrued expenses                                  17,965,000
                                                 --------------
NET CASH PROVIDED BY OPERATING ACTIVITIES            25,965,000

Cash Flows from Investing Activities:
   Aircraft pre-delivery deposits                             -
   Capital expenditures                                (466,000)
   Non-current prepaid aircraft rent                 (8,049,000)
   Reductions to other assets                            12,000
   Proceeds from sales of property and equipment        120,000
                                                 --------------
NET CASH USED BY INVESTING ACTIVITIES                (8,383,000)

Cash Flows from Financing activities:
   Proceeds from DIP Financing                       15,000,000
   Decrease (increase) in restricted cash             6,225,000
                                                 --------------
NET CASH PROVIDED BY FINANCING ACTIVITIES            21,225,000
                                                 --------------

Net change in cash and cash equivalents              38,808,000

Cash and equivalents at beginning of period          46,378,000
                                                 --------------
Cash and cash equivalents at end of period          $85,186,000
                                                 ==============


Headquartered in Indianapolis, Indiana, ATA Airlines, owned by ATA
Holdings Corp. -- http://www.ata.com/ -- is the nation's 10th
largest passenger carrier (based on revenue passenger miles) and
one of the nation's largest low-fare carriers.  ATA has one of the
youngest, most fuel-efficient fleets among the major carriers,
featuring the new Boeing 737-800 and 757-300 aircraft.  The
airline operates significant scheduled service from Chicago-
Midway, Hawaii, Indianapolis, New York and San Francisco to over
40 business and vacation destinations.  Stock of parent company,
ATA Holdings Corp., is traded on the Nasdaq Stock Exchange.  The
Company and its debtor-affiliates filed for chapter 11 protection
on Oct. 26, 2004 (Bankr. S.D. Ind. Case No. 04-19866, 04-19868
through 04-19874).  Terry E. Hall, Esq., at Baker & Daniels,
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
$745,159,000 in total assets and $940,521,000 in total debts.
(ATA Airlines Bankruptcy News, Issue No. 11; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Portland Files July 2004 Monthly Operating Report
------------------------------------------------------------------

                         Pastoral Center
                Archdiocese of Portland in Oregon
                 Statement of Financial Position
                       As of July 31, 2004


ASSETS

Cash and cash equivalents                           $12,633,406
Accounts receivable, net                                520,410
Notes, estates and other receivables                 12,940,451
Loans receivable from Archdiocesan entities, net     12,530,095
Loans receivable from Archdiocesan housing entities     538,161
Interest receivable and other assets                    297,952
Inventories                                           1,379,049
Real Property                                           226,689
Deposits and prepaid expenses                           346,601
Investments                                          81,936,295
Advances to Archdiocesan housing entities             1,640,000
Land, buildings, and equipment, net                   8,173,838
                                                 --------------
Total Assets                                       $133,162,947
                                                 ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Prepetition
      Accounts payable                                 $777,186
      Accrued liabilities                               765,427
      Funds held for others
         Second Collections                             164,479
         Short-term investments payable              24,230,470
         Long-term pool investments payable          20,811,018
      Reserve for insurance claims                    2,343,946
      Notes payable                                  11,432,529
      Pre-need liability and reserve                    456,268
      Accrued port-retirement liability               7,607,264
                                                 --------------
   Total Prepetition Liabilities                     68,588,587
                                                 --------------
   Postpetition
      Accounts payable                                    2,991
      Accrued liabilities                               873,016
      Funds held for others
         Second Collections                              41,157
         Short-term investments payable                  22,122
         Long-term pool investments                    (344,649)
      Reserve for insurance claims                            -
      Notes payable                                           -
      Pre-need liability and reserve                        (56)
      Accrued port-retirement liability                       -
                                                 --------------
   Total Postpetition Liabilities                       594,581
                                                 --------------
     Total Liabilities                               69,183,168
                                                 --------------

Net Assets:
   Prepetition Net Assets:
      Charitable Trust Assets                        70,275,649
      Other Assets                                   (3,840,763)
                                                 --------------
   Total Prepetition Net Assets                      66,434,886
                                                 --------------

   Postpetition Net Assets:
      Charitable Trust Assets                        (1,996,531)
      Other Assets                                     (458,576)
                                                 --------------
   Total Postpetition Net Assets                     (2,455,107)
                                                 --------------
      Total Net Assets                               63,979,779
                                                 --------------
Total liabilities & net assets                     $133,162,947
                                                 ==============


                         Pastoral Center
                Archdiocese of Portland in Oregon
                     Statement of Activities
        For the period July 7, 2004 through July 31, 2004


Revenues, gains and other support
   Annual Catholic appeal income                        $29,119
   Gross profit on cemetery sales                        91,362
   Contributions, gifts, annuities and bequests           4,675
   Operating support - Oregon Catholic Press                  -
   Investment income and realized gains(losses),
      net of expenses                                   488,028
   Change in unrealized losses                       (2,231,673)
   Insurance premiums, net                                4,520
   Interest income from loans                            43,428
   Parish assessments                                   241,443
   Other income                                          17,123
   Departmental revenues                                 64,004
   Net assets released from restrictions                      -
                                                 --------------
   Total revenues, gains, and other support          (1,247,971)
                                                 --------------

Expenses and program support:
   Program Services:
      Annual Catholic Appeal program support,
         grants and parish subsidies                    171,667
      Clergy Services                                    89,483
      Catholic Schools                                   24,746
      Pastoral Services                                  50,563
      Evangelization Services                            54,011
      Public Services                                     8,236
      Tribunal Services                                  18,765
      Deposit and loan interest                         (66,700)
      Insurance program                                 484,068
      Cemetery operating expenses                        46,761
      High School grants/charitable annuities            35,571
      Other program expenses                             62,461
                                                 --------------
         Total program services                         979,632
                                                 --------------
   Supporting Services:
      Archbishop, Vicar General
         and Chancellor Services                         58,245
      Finance & Administration:
         Resource Development                            68,552
         Business Affairs                                 8,776
         Financial Services                              52,721
      Human Resources                                    22,225
      Shared Services                                    22,895
      Occupancy and physical plant expenses               2,014
      Designated funds expense                           (8,939)
      Bankruptcy expense                                  1,015
      Depreciation expense                                    -
                                                 --------------
         Total supporting services                      227,504
                                                 --------------
         Total expenses and program support           1,207,136
                                                 --------------
Increase (decrease) in net assets before
   transfers and designations of net assets          (2,455,107)

Fund transfers - in (out)                                     -

Designation of net assets                                     -
                                                 --------------
Increase (decrease) in net assets                    (2,455,107)

Net assets at beginning of year                      66,434,886
                                                 --------------
Net assets at end of year                           $63,979,779
                                                 ==============


                Archdiocese of Portland in Oregon
                            Cash Flow
               For the period ending July 31, 2004

Total Fixed Asset Expenditures & Development                  -
Total Contributions to General Fund                           -
Total Cash Expenses                                     $60,460
                                                 --------------
Total Cash Outlay                                        60,460
                                                 --------------

Total Care withdrawal                                         -
Total Receivable Collection                             122,616
                                                 --------------
Total Cash In                                           122,616
                                                 --------------
Investment Gain (Loss)                                 (233,026)
                                                 --------------
Net Cash Flow Gain/(Loss)                             ($170,870)
                                                 ==============

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. of Sussman
Shank LLP represent the debtor in its restructuring efforts. When
the debtor filed for chapter 11 protection, it listed estimated
assets of $10,000,000 to $50,000,000 and estimated debts of
$25,000,000 to $50,000,000. (Catholic Church Bankruptcy News,
Issue No. 14; Bankruptcy Creditors' Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Portland Files Aug. 2004 Monthly Operating Report
------------------------------------------------------------------

                         Pastoral Center
                Archdiocese of Portland in Oregon
                 Statement of Financial Position
                      As of August 31, 2004


ASSETS

Cash and cash equivalents                           $10,667,483
Accounts receivable, net                              6,638,071
Notes, estates and other receivables                 12,919,931
Loans receivable from Archdiocesan entities, net     12,901,133
Loans receivable from Archdiocesan housing entities     539,721
Interest receivable and other assets                    322,469
Inventories                                           1,383,899
Real Property                                           226,689
Deposits and prepaid expenses                           254,667
Investments                                          81,674,666
Advances to Archdiocesan housing entities             1,640,000
Land, buildings, and equipment, net                   8,183,591
                                                 --------------
Total Assets                                       $137,352,320
                                                 ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Prepetition
      Accounts payable                                 $777,186
      Accrued liabilities                             1,116,143
      Funds held for others
         Second Collections                             112,848
         Short-term investments payable              21,995,137
         Long-term pool investments payable          20,516,735
      Reserve for insurance claims                    2,343,946
      Notes payable                                  11,407,006
      Pre-need liability and reserve                    456,268
      Accrued port-retirement liability               7,607,264
                                                 --------------
   Total Prepetition Liabilities                     66,332,533
                                                 --------------
   Postpetition
      Accounts payable                                  168,002
      Accrued liabilities                             1,222,915
      Funds held for others
         Second Collections                              82,782
         Short-term investments payable                  79,858
         Long-term pool investments                    (143,453)
      Reserve for insurance claims                            -
      Notes payable                                           -
      Pre-need liability and reserve                      1,948
      Accrued port-retirement liability                       -
                                                 --------------
   Total Postpetition Liabilities                     1,412,052
                                                 --------------
     Total Liabilities                               67,744,585
                                                 --------------

Net Assets:
   Prepetition Net Assets:
      Charitable Trust Assets                        69,813,035
      Other Assets                                   (3,378,150)
                                                 --------------
   Total Prepetition Net Assets                      66,434,885
                                                 --------------

   Postpetition Net Assets:
      Charitable Trust Assets                        (3,195,519)
      Other Assets                                    6,368,369
                                                 --------------
   Total Postpetition Net Assets                      3,172,850
                                                 --------------
      Total Net Assets                               69,607,735
                                                 --------------
Total liabilities & net assets                     $137,352,320
                                                 ==============


                         Pastoral Center
                Archdiocese of Portland in Oregon
                     Statement of Activities
              For the period ending August 31, 2004


Revenues, gains and other support
   Annual Catholic Appeal income                        $33,821
   Gross profit on cemetery sales                        50,017
   Contributions, gifts, annuities and bequests          18,298
   Operating support - Oregon Catholic Press                  -
   Investment income and realized gains (losses),
      net of expenses                                   443,540
   Change in unrealized losses                         (403,386)
   Insurance premiums, net                            6,513,347
   Interest income from loans                            45,483
   Parish assessments                                   240,604
   Other income                                          92,226
   Departmental revenues                                 44,939
   Net assets released from restrictions                      -
                                                 --------------
   Total revenues, gains, and other support           7,078,889
                                                 --------------

Expenses and program support:
   Program Services:
      Annual Catholic Appeal program support,
         grants and parish subsidies                    109,882
      Clergy Services                                    71,888
      Catholic Schools                                   45,829
      Pastoral Services                                  84,595
      Evangelization Services                            60,322
      Public Services                                    11,442
      Tribunal Services                                  23,683
      Deposit and loan interest                          43,715
      Insurance program                                 192,784
      Cemetery operating expenses                       171,267
      High School grants/charitable annuities             5,753
      Other program expenses                             64,546
                                                 --------------
         Total program services                         885,706
                                                 --------------
   Supporting Services:
      Archbishop, Vicar General
         and Chancellor Services                         53,101
      Finance & Administration:
         Resource Development                            55,664
         Business Affairs                                12,083
         Financial Services                              85,555
      Human Resources                                    33,253
      Shared Services                                   117,155
      Occupancy and physical plant expenses              47,439
      Designated funds expense                            9,223
      Bankruptcy expense                                151,754
      Depreciation expense                                    -
                                                 --------------
         Total supporting services                      565,227
                                                 --------------
         Total expenses and program support           1,450,933
                                                 --------------
Increase (decrease) in net assets before
   transfers and designations of net assets           5,627,956

Fund transfers - in (out)                                     -

Designation of net assets                                     -
                                                 --------------
Increase (decrease) in net assets                     5,627,956

Net assets at beginning of year                      63,979,779
                                                 --------------
Net assets at end of year                           $69,607,735
                                                 ==============


                Archdiocese of Portland in Oregon
                            Cash Flow
              For the period ending August 31, 2004


Total Fixed Asset Expenditures & Development                  -
Total Contributions to General Fund                           -
Total Cash Expenses                                    $186,982
                                                 --------------
Total Cash Outlay                                       186,982
                                                 --------------

Total Care withdrawal                                         -
Total Receivable Collection                              88,733
                                                 --------------
Total Cash In                                            88,733
                                                 --------------
Investment Gain (Loss)                                   10,363
                                                 --------------
Net Cash Flow Gain/(Loss)                              ($87,886)
                                                 ==============

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. of Sussman
Shank LLP represent the debtor in its restructuring efforts. When
the debtor filed for chapter 11 protection, it listed estimated
assets of $10,000,000 to $50,000,000 and estimated debts of
$25,000,000 to $50,000,000. (Catholic Church Bankruptcy News,
Issue No. 14; Bankruptcy Creditors' Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Portland Files September Monthly Operating Report
------------------------------------------------------------------

                         Pastoral Center
                Archdiocese of Portland in Oregon
                 Statement of Financial Position
                    As of September 30, 2004


ASSETS

Cash and cash equivalents                           $11,786,542
Accounts receivable, net                              4,405,425
Notes, estates and other receivables                 12,917,768
Loans receivable from Archdiocesan entities, net     12,758,552
Loans receivable from Archdiocesan housing entities     541,395
Interest receivable and other assets                    339,736
Inventories                                           1,390,769
Real Property                                           226,689
Deposits and prepaid expenses                           122,120
Investments                                          82,742,590
Advances to Archdiocesan housing entities             1,640,000
Land, buildings, and equipment, net                   8,209,587
                                                 --------------
Total Assets                                       $137,081,173
                                                 ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Prepetition
      Accounts payable                                 $777,185
      Accrued liabilities                             1,082,973
      Funds held for others
         Second Collections                              23,996
         Short-term investments payable              21,554,457
         Long-term pool investments payable          20,481,495
      Reserve for insurance claims                    2,343,946
      Notes payable                                  11,381,033
      Pre-need liability and reserve                    456,268
      Accrued port-retirement liability               7,607,264
                                                 --------------
   Total Prepetition Liabilities                     65,708,617
                                                 --------------
   Postpetition
      Accounts payable                                  177,815
      Accrued liabilities                             1,318,970
      Funds held for others
         Second Collections                              49,722
         Short-term investments payable                 196,721
         Long-term pool investments                     225,268
      Reserve for insurance claims                            -
      Notes payable                                           -
      Pre-need liability and reserve                      4,564
      Accrued port-retirement liability                       -
                                                 --------------
   Total Postpetition Liabilities                     1,973,060
                                                 --------------
     Total Liabilities                               67,681,677
                                                 --------------

Net Assets:
   Prepetition Net Assets:
      Charitable Trust Assets                        69,719,358
      Other Assets                                   (3,284,473)
                                                 --------------
   Total Prepetition Net Assets                      66,434,885
                                                 --------------

   Postpetition Net Assets:
      Charitable Trust Assets                        (2,961,305)
      Other Assets                                    5,925,916
                                                 --------------
   Total Postpetition Net Assets                      2,964,611
                                                 --------------
      Total Net Assets                               69,399,469
                                                 --------------
Total liabilities & net assets                     $137,081,173
                                                 ==============


                         Pastoral Center
                Archdiocese of Portland in Oregon
                     Statement of Activities
             For the period ending September 30, 2004


Revenues, gains and other support
   Annual Catholic Appeal income                       ($14,564)
   Gross profit on cemetery sales                        76,492
   Contributions, gifts, annuities and bequests           8,853
   Operating support - Oregon Catholic Press                  -
   Investment income and realized gains(losses),
      net of expenses                                   390,552
   Change in unrealized losses                          900,846
   Insurance premiums, net                              (24,607)
   Interest income from loans                            44,417
   Parish assessments                                   241,023
   Other income                                         131,260
   Departmental revenues                                 34,587
   Net assets released from restrictions                      -
                                                 --------------
   Total revenues, gains, and other support           1,788,859
                                                 --------------

Expenses and program support:
   Program Services:
      Annual Catholic Appeal program support,
         grants and parish subsidies                    453,676
      Clergy Services                                   123,081
      Catholic Schools                                   46,126
      Pastoral Services                                  55,244
      Evangelization Services                            58,841
      Public Services                                     9,461
      Tribunal Services                                  18,669
      Deposit and loan interest                         105,938
      Insurance program                                 236,504
      Cemetery operating expenses                       202,705
      High School grants/charitable annuities             3,014
      Other program expenses                            149,011
                                                 --------------
         Total program services                       1,462,270
                                                 --------------
   Supporting Services:
      Archbishop, Vicar General
         and Chancellor Services                         43,579
      Finance & Administration:
         Resource Development                            87,551
         Business Affairs                                10,538
         Financial Services                              56,287
      Human Resources                                    24,759
      Shared Services                                    22,840
      Occupancy and physical plant expenses              12,153
      Designated funds expense                           20,566
      Bankruptcy expense                                256,555
      Depreciation expense                                    -
                                                 --------------
         Total supporting services                      534,828
                                                 --------------
         Total expenses and program support           1,997,098
                                                 --------------
Increase (decrease) in net assets before
   transfers and designations of net assets            (208,239)

Fund transfers - in (out)                                     -

Designation of net assets                                     -
                                                 --------------
Increase (decrease) in net assets                      (208,239)

Net assets at beginning of year                      67,607,735
                                                 --------------
Net assets at end of year                           $67,399,496
                                                 ==============


                Archdiocese of Portland in Oregon
                            Cash Flow
             For the period ending September 30, 2004


Total Fixed Asset Expenditures & Development                  -
Total Contributions to General Fund                     $10,000
Total Cash Expenses                                     142,856
                                                 --------------
Total Cash Outlay                                       152,856
                                                 --------------

Total Care withdrawal                                         -
Total Receivable Collection                              94,459
                                                 --------------
Total Cash In                                            94,459
                                                 --------------
Investment Gain (Loss)                                  173,391
                                                 --------------
Net Cash Flow Gain/(Loss)                              $114,994
                                                 ==============

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. of Sussman
Shank LLP represent the debtor in its restructuring efforts. When
the debtor filed for chapter 11 protection, it listed estimated
assets of $10,000,000 to $50,000,000 and estimated debts of
$25,000,000 to $50,000,000. (Catholic Church Bankruptcy News,
Issue No. 14; Bankruptcy Creditors' Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Portland Files Oct. 2004 Monthly Operating Report
------------------------------------------------------------------

                         Pastoral Center
                Archdiocese of Portland in Oregon
                 Statement of Financial Position
                      As of October 31, 2004


ASSETS

Cash and cash equivalents                           $13,464,020
Accounts receivable, net                              3,819,010
Notes, estates and other receivables                 11,888,749
Loans receivable from Archdiocesan entities, net     12,366,022
Loans receivable from Archdiocesan housing entities     540,558
Interest receivable and other assets                    220,741
Inventories                                           1,388,463
Real Property                                           226,689
Deposits and prepaid expenses                           347,671
Investments                                          83,112,738
Advances to Archdiocesan housing entities             1,640,000
Land, buildings, and equipment, net                   8,209,587
                                                 --------------
Total Assets                                       $137,224,248
                                                 ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Prepetition
      Accounts payable                                 $777,185
      Accrued liabilities                             1,084,179
      Funds held for others
         Second Collections                              23,996
         Short-term investments payable              21,352,294
         Long-term pool investments payable          20,296,590
      Reserve for insurance claims                    2,343,946
      Notes payable                                  11,354,808
      Pre-need liability and reserve                    456,268
      Accrued port-retirement liability               7,607,264
                                                 --------------
   Total Prepetition Liabilities                     65,296,530
                                                 --------------
   Postpetition
      Accounts payable                                  288,931
      Accrued liabilities                             1,390,734
      Funds held for others
         Second Collections                              25,452
         Short-term investments payable                 416,138
         Long-term pool investments                     522,469
      Reserve for insurance claims                            -
      Notes payable                                           -
      Pre-need liability and reserve                      4,823
      Accrued port-retirement liability                       -
                                                 --------------
   Total Postpetition Liabilities                     2,648,547
                                                 --------------
     Total Liabilities                               67,945,077
                                                 --------------

Net Assets:
   Prepetition Net Assets:
      Charitable Trust Assets                        69,524,750
      Other Assets                                   (3,284,316)
                                                 --------------
   Total Prepetition Net Assets                      66,240,434
                                                 --------------

   Postpetition Net Assets:
      Charitable Trust Assets                        (2,466,419)
      Other Assets                                    5,505,156
                                                 --------------
   Total Postpetition Net Assets                      3,038,737
                                                 --------------
      Total Net Assets                               69,279,171
                                                 --------------
Total liabilities & net assets                     $137,224,248
                                                 ==============


                         Pastoral Center
                Archdiocese of Portland in Oregon
                     Statement of Activities
              For the period ending October 31, 2004


Revenues, gains and other support
   Annual Catholic Appeal income                        $16,216
   Gross profit on cemetery sales                        90,452
   Contributions, gifts, annuities and bequests          13,841
   Operating support - Oregon Catholic Press            104,273
   Investment income and realized gains (losses),
      net of expenses                                   123,090
   Change in unrealized losses                          519,321
   Insurance premiums, net                               (5,318)
   Interest income from loans                            44,962
   Parish assessments                                   241,023
   Other income                                          77,871
   Departmental revenues                                 93,688
   Net assets released from restrictions                      -
                                                 --------------
   Total revenues, gains, and other support           1,319,419
                                                 --------------

Expenses and program support:
   Program Services:
      Annual Catholic Appeal program support,
         grants and parish subsidies                    210,216
      Clergy Services                                    49,028
      Catholic Schools                                   32,103
      Pastoral Services                                  50,607
      Evangelization Services                            80,909
      Public Services                                    10,344
      Tribunal Services                                  18,736
      Deposit and loan interest                          71,006
      Insurance program                                 268,424
      Cemetery operating expenses                        59,682
      High School grants/charitable annuities              (446)
      Other program expenses                            118,056
                                                 --------------
         Total program services                         968,665
                                                 --------------
   Supporting Services:
      Archbishop, Vicar General
         and Chancellor Services                         62,725
      Finance & Administration:
         Resource Development                            61,555
         Business Affairs                                 9,894
         Financial Services                              54,535
      Human Resources                                    26,636
      Shared Services                                    24,760
      Occupancy and physical plant expenses               7,620
      Designated funds expense                           16,432
      Bankruptcy expense                                206,922
      Depreciation expense                                    -
                                                 --------------
         Total supporting services                      471,079
                                                 --------------
         Total expenses and program support           1,439,744
                                                 --------------
Increase (decrease) in net assets before
   transfers and designations of net assets            (120,325)

Fund transfers - in (out)                                     -

Designation of net assets                                     -
                                                 --------------
Increase (decrease) in net assets                      (120,325)

Net assets at beginning of year                      69,399,496
                                                 --------------
Net assets at end of year                           $69,279,171
                                                 ==============


                Archdiocese of Portland in Oregon
                            Cash Flow
              For the period ending October 31, 2004


Total Fixed Asset Expenditures & Development                  -
Total Contributions to General Fund                     $17,800
Total Cash Expenses                                      80,440
                                                 --------------
Total Cash Outlay                                        98,240
                                                 --------------

Total Care withdrawal                                         -
Total Receivable Collection                             126,271
                                                 --------------
Total Cash In                                           126,271
                                                 --------------
Investment Gain (Loss)                                   92,608
                                                 --------------
Net Cash Flow Gain/(Loss)                              $120,639
                                                 ==============

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. of Sussman
Shank LLP represent the debtor in its restructuring efforts. When
the debtor filed for chapter 11 protection, it listed estimated
assets of $10,000,000 to $50,000,000 and estimated debts of
$25,000,000 to $50,000,000. (Catholic Church Bankruptcy News,
Issue No. 14; Bankruptcy Creditors' Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Portland Files Nov. 2004 Monthly Operating Report
------------------------------------------------------------------

                         Pastoral Center
                Archdiocese of Portland in Oregon
                 Statement of Financial Position
                     As of November 30, 2004


ASSETS

Cash and cash equivalents                           $14,351,076
Accounts receivable, net                              3,348,849
Notes, estates and other receivables                 11,848,697
Loans receivable from Archdiocesan entities, net     11,828,971
Loans receivable from Archdiocesan housing entities     542,258
Interest receivable and other assets                    228,514
Inventories                                           1,385,397
Real Property                                           226,689
Deposits and prepaid expenses                           344,170
Investments                                          85,833,598
Advances to Archdiocesan housing entities             1,640,000
Land, buildings, and equipment, net                   8,209,587
                                                 --------------
Total Assets                                       $139,787,806
                                                 ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Prepetition
      Accounts payable                                 $777,185
      Accrued liabilities                             1,080,867
      Funds held for others
         Second Collections                              23,987
         Short-term investments payable              20,771,006
         Long-term pool investments payable          20,260,900
      Reserve for insurance claims                    2,343,946
      Notes payable                                  11,328,807
      Pre-need liability and reserve                    456,268
      Accrued port-retirement liability               7,607,264
                                                 --------------
   Total Prepetition Liabilities                     64,650,230
                                                 --------------
   Postpetition
      Accounts payable                                  482,193
      Accrued liabilities                             1,779,080
      Funds held for others
         Second Collections                              94,788
         Short-term investments payable                 963,409
         Long-term pool investments                   1,069,405
      Reserve for insurance claims                            -
      Notes payable                                           -
      Pre-need liability and reserve                     11,747
      Accrued port-retirement liability                       -
                                                 --------------
   Total Postpetition Liabilities                     4,400,622
                                                 --------------
     Total Liabilities                               69,050,852
                                                 --------------

Net Assets:
   Prepetition Net Assets:
      Charitable Trust Assets                        69,521,967
      Other Assets                                   (3,281,533)
                                                 --------------
   Total Prepetition Net Assets                      66,240,434
                                                 --------------

   Postpetition Net Assets:
      Charitable Trust Assets                          (405,827)
      Other Assets                                    4,902,347
                                                 --------------
   Total Postpetition Net Assets                      4,496,520
                                                 --------------
      Total Net Assets                               70,736,954
                                                 --------------
Total liabilities & net assets                     $139,787,806
                                                 ==============


                         Pastoral Center
                Archdiocese of Portland in Oregon
                     Statement of Activities
             For the period ending November 30, 2004


Revenues, gains and other support
   Annual Catholic Appeal income                         $1,198
   Gross profit on cemetery sales                       107,187
   Contributions, gifts, annuities and bequests          16,128
   Operating support - Oregon Catholic Press                  -
   Investment income and realized gains (losses),
      net of expenses                                   468,114
   Change in unrealized losses                        2,016,418
   Insurance premiums, net                              (37,797)
   Interest income from loans                            42,174
   Parish assessments                                   241,023
   Other income                                          53,691
   Departmental revenues                                 23,089
   Net assets released from restrictions                      -
                                                 --------------
   Total revenues, gains, and other support           2,931,225
                                                 --------------

Expenses and program support:
   Program Services:
      Annual Catholic Appeal program support,
         grants and parish subsidies                    166,071
      Clergy Services                                    62,814
      Catholic Schools                                   33,118
      Pastoral Services                                  43,131
      Evangelization Services                            72,841
      Public Services                                    10,686
      Tribunal Services                                  20,333
      Deposit and loan interest                         166,174
      Insurance program                                 216,907
      Cemetery operating expenses                        73,185
      High School grants/charitable annuities           (39,688)
      Other program expenses                             69,436
                                                 --------------
         Total program services                         895,008
                                                 --------------
   Supporting Services:
      Archbishop, Vicar General
         and Chancellor Services                         47,669
      Finance & Administration:
         Resource Development                            50,504
         Business Affairs                                10,233
         Financial Services                              56,196
      Human Resources                                    27,500
      Shared Services                                    23,318
      Occupancy and physical plant expenses              13,339
      Designated funds expense                           28,693
      Bankruptcy expense                                320,982
      Depreciation expense                                    -
                                                 --------------
         Total supporting services                      578,434
                                                 --------------
         Total expenses and program support           1,473,442
                                                 --------------
Increase (decrease) in net assets before
   transfers and designations of net assets           1,457,783

Fund transfers - in (out)                                     -

Designation of net assets                                     -
                                                 --------------
Increase (decrease) in net assets                     1,457,783

Net assets at beginning of year                      69,279,171
                                                 --------------
Net assets at end of year                           $70,736,954
                                                 ==============


                Archdiocese of Portland in Oregon
                            Cash Flow
             For the period ending November 30, 2004


Total Fixed Asset Expenditures & Development                  -
Total Contributions to General Fund                     $10,000
Total Cash Expenses                                     153,564
                                                 --------------
Total Cash Outlay                                       163,564
                                                 --------------

Total Care withdrawal                                         -
Total Receivable Collection                             115,297
                                                 --------------
Total Cash In                                           115,297
                                                 --------------
Investment Gain(Loss)                                   317,275
                                                 --------------
Net Cash Flow Gain/(Loss)                              $269,008
                                                 ==============

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. of Sussman
Shank LLP represent the debtor in its restructuring efforts. When
the debtor filed for chapter 11 protection, it listed estimated
assets of $10,000,000 to $50,000,000 and estimated debts of
$25,000,000 to $50,000,000.  (Catholic Church Bankruptcy News,
Issue No. 14; Bankruptcy Creditors' Service, Inc., 215/945-7000)


CATHOLIC CHURCH: Tucson Files Nov. 2004 Monthly Operating Report
----------------------------------------------------------------

        The Roman Catholic Church of the Diocese of Tucson
                   an Arizona Corporation Sole
           (Unaudited) Statement of Financial Condition
                     As of November 30, 2004


ASSETS                                    Total   Diocese-Owned
                                          -----   -------------
Cash on hand                             $1,500          $1,500
Cash in Banks                         2,144,021       1,654,774
Cash Equivalents                      4,674,143       2,786,666
Accounts receivable, net              1,630,182       1,630,182
Allowance for doubtful accounts      (1,171,572)     (1,171,572)
Grants receivable                       375,000         375,000
Pledges receivable                        7,000           7,000
A/R held in trust for others             71,369               0
Due from administered funds             207,457         207,457
Prepaid expenses & other assets         452,486         452,486
Investments in businesses             2,596,035       2,171,035
Corp. & Gov't. bond investments       2,205,339       1,535,438
Investment in BPIC                       80,850          80,850
Notes receivable, net                 2,117,326         333,489
Allowance for doubtful
   notes receivable                    (329,289)         (5,412)
Assets securing 2002 settlement       3,000,000       3,000,000
Construction in progress                 48,867          48,867
Land, buildings, and equipment          533,240         533,240
Assets held for sale                     60,226          60,226
Land held for future parish sites       817,460         817,460
                                 --------------  --------------
                                    $19,521,640     $14,518,686
                                 ==============  ==============

LIABILITIES AND NET ASSETS

Liabilities:
   Accounts payable - post              295,173         295,173
   Accounts payable - pre                29,758          29,758
   Accrued expenses - post               63,344          63,344
   Accrued expenses - pre               157,682         157,682
   Due to Diocese                       207,457               0
   Accrued insurance claims             371,945         371,945
   Unsecured long-term debt - pre     2,061,455       2,061,455
   Unsecured long-term debt - post      100,000         100,000
   Unrestricted parish deposits       6,966,169       6,962,867
   Restricted parish deposits         3,629,160               0
   Secured long-term debt             2,576,224       2,576,224
   Custodial funds                    1,163,035               0
                                 --------------  --------------
      Total Liabilities              17,621,402      12,618,448
                                 --------------  --------------

Net Assets:
   Unrestricted/temporarily
     restricted                          (8,650)         (8,650)
   Permanently restricted             1,908,888       1,908,888
                                 --------------  --------------
Total liabilities & net assets      $19,521,640     $14,518,686
                                 ==============  ==============


        The Roman Catholic Church of the Diocese of Tucson
                   an Arizona Corporation Sole
        Statement of Operations and Charges in Net Assets
            November 1, 2004 through November 30, 2004


Revenues
   Contributions, grants and bequests                   $10,390
   Chancery assessment                                  137,998
   Priests salary subsidy                                18,530
   Fees for services                                     22,983
   Advertising revenue                                     (848)
   Retreat fees                                             300
   Rental Income                                          4,397
   Insurance                                             60,204
   Investment Income                                     42,855
   Miscellaneous                                          1,213
                                                 --------------
   Total Support & Revenue                              298,022

Expense
   Program Services:
      Archives                                            1,996
      Catholic Commitments & Social Services                 98
      Evangelization & Hispanic Ministry                  6,246
      Catechesis Office                                   7,937
      Formation Office                                    5,578
      Department of Catholic Schools                     18,188
      Clergy, religious & seminarian advancement         13,929
      Parish Assistance                                  20,786
      Catholic Social Mission                             4,084

   Supporting Services:
      Office of Bishop Emeritus                           2,715
      Offices of the Bishop, et al.                      30,662
      Office of Women Religious                           1,170
      General & Administrative                            4,115
      Fiscal & Employee Services                         46,695
      Office of Child, Adolescent, et al. Protection      8,790
      Communications & Community Relations               16,588
      Property Management                                29,278
      Insurance Administration                            6,574
      Reorganization                                     83,586

Imputed interest on settlement                           14,095
Provision for doubtful accounts                           5,833
Depreciation                                              3,753
                                                 --------------
   Total Expenses                                       332,695
                                                 --------------
Excess (deficiency) of revenues over expenses          ($34,673)
                                                 ==============


        The Roman Catholic Church of the Diocese of Tucson
                   an Arizona Corporation Sole
            Current Month's Receipts and Disbursements
            November 1, 2004 through November 30, 2004


Cash and Bank Balance:
   Beginning of Month                                $1,902,955

Receipts
   Cash Sales                                            17,802
   Accounts Receivable -- Prepetition                    12,095
   Accounts Receivable -- Postpetition                  132,355
   Loans and Advances                                         0
   Sale of Assets                                             0
   Transfers in from other accounts                     153,736
   Other -- Custodial Funds                                 508
   Other -- Credit ADJ                                      150
   Voided Checks                                          1,068
                                                 --------------
   Total Receipts                                       317,714

Disbursements:
   Business -- Ordinary Operations                      344,970
   Capital Improvements                                       0
   Prepetition Debt                                           0
   Transfers to other DIP Accounts                      153,737
   Other -- Custodial Funds                                   0
   Other -- Check Order                                       0

Reorganization Expenses:
   Attorney Fees                                              0
   Accountant Fees                                            0
   Other Professional Fees                                    0
   Other (Advertising)                                   66,189
   U.S. Trustee Quarterly Fee                             1,000
   Court Costs                                                0
                                                 --------------
   Total Disbursements                                  565,896
                                                 --------------
Cash & Bank Balance -- End of Month                  $1,654,774
                                                 ==============

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., 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. of
Sussman Shank LLP represent the Portland Archdiocese in its
restructuring efforts.  Portland's 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.  (Catholic Church Bankruptcy News, Issue No. 14;
Bankruptcy Creditors' Service, Inc., 215/945-7000)


DAN RIVER: Posts $4.8 Million Net Loss in November 2004
-------------------------------------------------------
On Jan. 4, 2005, Dan River Inc., filed its monthly operating
report for November 2004, which includes the period from Nov. 7,
2004 to Dec. 4, 2004, with the United States Bankruptcy Court for
the Northern District of Georgia.  The Company reports a
$4.8 million net loss in $31.1 million of net sales.

At Dec. 4, 2004, Dan River's balance sheet showed:

   Total Current Assets                          $199,877,000
   Total Assets                                   360,824,000
   Total Current Liabilities                      143,594,000
   Total Liabilities not Subject to Compromise    170,290,000
   Liabilities subject to compromise              192,777,000
   Total shareholders' equity deficit              $2,243,000

A full-text copy of Dan River Inc.'s monthly financial report for
the period from Nov. 7, 2004 to Dec. 4, 2004, is available at no
charge at:


http://www.sec.gov/Archives/edgar/data/914384/000091438405000001/e9911705.tx
t


Headquartered in Danville, Virginia, Dan River Inc.
-- http://www.danriver.com/-- designs, manufactures and markets
textile products for the home fashions, apparel fabrics and
industrial markets.  The Company and its debtor-affiliates filed
for chapter 11 protection on March 31, 2004 (Bankr. N.D. Ga. Case
No. 04-10990).  James A. Pardo, Jr., Esq., at King & Spalding
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
$441,800,000 in total assets and $371,800,000 in total debts.


FEDERAL-MOGUL: Posts $28 Million Net Loss in November 2004
----------------------------------------------------------

                 Federal-Mogul Global, Inc., et al.
                       Unaudited Balance Sheet
                       As of November 30, 2004
                            (In millions)

                               Assets

Cash and equivalents                                     $349.9
Accounts receivable                                       617.6
Inventories                                               488.6
Deferred taxes                                            200.3
Prepaid expenses and other current assets                 107.6
                                                     ----------
Total current assets                                    1,764.0

Summary of Unpaid Postpetition Debits                     (64.8)
Intercompany Loans Receivable (Payable)                 2,636.9
                                                     ----------
Intercompany Balances                                   2,572.1

Property, plant and equipment                           1,045.2
Goodwill                                                1,176.7
Other intangible assets                                   457.0
Insurance recoverable                                     844.6
Other non-current assets                                1,098.7
                                                     ----------
Total Assets                                           $8,958.3
                                                     ==========

                 Liabilities and Shareholders' Equity

Short-term debt                                          $353.5
Accounts Payable                                          186.5
Accrued Compensation                                       85.2
Restructuring and rationalization reserves                  7.5
Current portion of asbestos liability                         -
Interest Payable                                            0.3
Other accrued liabilities                                 308.0
                                                     ----------
Total current liabilities                                 941.0

Long-term debt                                            (15.0)
Post-employment benefits                                1,520.7
Other accrued liabilities                                 978.7
Liabilities subject to compromise                       6,108.5

Shareholders' equity:
    Preferred stock                                     1,050.6
    Common stock                                          555.3
    Additional paid-in capital                          7,939.6
    Accumulated deficit                                (9,604.9)
    Accumulated other comprehensive income               (516.2)
    Other                                                     -
                                                     ----------
Total Shareholders' Equity                               (575.5)
                                                     ----------
Total Liabilities and Shareholders' Equity             $8,958.4
                                                     ==========


                 Federal-Mogul Global, Inc., et al.
                 Unaudited Statement of Operations
               For the month ended November 30, 2004
                            (In millions)


Net sales                                                $274.0
Cost of products sold                                     230.7
                                                     ----------
Gross margin                                               43.3

Selling, general & administrative expenses                (54.7)
Amortization                                               (1.2)
Reorganization items                                       (7.9)
Interest income (expense), net                             (9.4)
Other income (expense), net                                16.4
                                                     ----------
Earnings before Income Taxes                              (13.4)

Income Tax (Expense) Benefit                              (14.6)
                                                     ----------
Earnings before effect of change in acctg principle       (28.0)
Cumulative effect of change in acctg principle                -
                                                     ----------
Net Earnings (loss)                                      ($28.0)
                                                     ==========


                 Federal-Mogul Global, Inc., et al.
                 Unaudited Statement of Cash Flows
               For the month ended November 30, 2004
                            (In millions)


Cash Provided From (Used By) Operating Activities:
    Net earnings (loss)                                  ($28.0)

Adjustments to reconcile net earnings (loss):
    Depreciation and amortization                          14.3
    Adjustments of assets held for sale to fair value         -
    Asbestos Charge                                           -
    Summary of unpaid postpetition debits                     -
    Cumulative effect of change in acctg principle            -
    Change in post-employment benefits                      5.1
    Decrease/(increase) in accounts receivable             10.1
    Decrease/(increase) in inventories                      3.7
    Increase/(decrease) in accounts payable               (22.0)
    Change in other assets and other liabilities           70.8
    Change in restructuring charge                         (1.4)
    Refunds (payments) against asbestos liability             -
                                                     ----------
Net Cash Provided From Operating Activities                52.6

Cash Provided From (Used By) Investing Activities:
    Expenditures for property, plant & equipment           (7.5)
    Proceeds from sale of property, plant & equipment         -
    Proceeds from sale of businesses                          -
    Business acquisitions, net of cash acquired               -
    Other                                                     -
                                                     ----------
Net Cash Provided From (Used By) Investing Activities      (7.5)

Cash Provided From (Used By) Financing Activities:
    Increase (decrease) in debt                            (2.8)
    Sale of accounts receivable under securitization          -
    Dividends                                                 -
    Other                                                  10.3
                                                     ----------
Net Cash Provided From Financing Activities                 7.5

Increase (Decrease) in Cash and Equivalents                52.6

Cash and equivalents at beginning of period               297.3
                                                     ----------
Cash and equivalents at end of period                    $349.9
                                                     ==========

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's largest
automotive parts companies with worldwide revenue of some
$6 billion.  The Company filed for chapter 11 protection on
October 1, 2001 (Bankr. Del. Case No. 01-10582).  Lawrence J.
Nyhan, Esq., James F. Conlan, Esq., and Kevin T. Lantry, Esq., at
Sidley Austin Brown & Wood, and Laura Davis Jones, Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub, represent the
Debtors in their restructuring efforts.  When the Debtors filed
for protection from their creditors, they listed $10.15 billion in
assets and $8.86 billion in liabilities.  (Federal-Mogul
Bankruptcy News, Issue No. 70; Bankruptcy Creditors' Service,
Inc., 215/945-7000)


NEWPOWER HOLDINGS: Files November 2004 Monthly Operating Report
---------------------------------------------------------------
On Jan. 11, 2005, NewPower Holdings, Inc., filed its November 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 $57,062,000 and a closing cash
balance of $56,922,000.

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


http://www.sec.gov/Archives/edgar/data/1119307/000090514805000138/efc4-2320_
exhibit991.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 Aug. 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
Oct. 9, 2003, with respect to the Company and TNPC.


OWENS CORNING: Reports $6.5 Million Net Loss in July 2004
---------------------------------------------------------

                  Owens Corning and Subsidiaries
                    Consolidated Balance Sheets
                        As of July 31, 2004
                          (In Thousands)


Current Assets:
    Cash and cash equivalents                           $604,788
    Receivables                                          375,306
    Receivables-Inter-company                            978,062
    Inventories                                          190,923
    Insurance for Asbestos Litigation Claims                   0
    Deferred Income Taxes                                    484
    Income Tax Receivable                                  6,538
    Other Current Assets                                  25,078
                                                     -----------
Total Current Assets                                  $2,181,179

Other Assets:
    Insurance for Asbestos Litigation Claims               4,220
    Restricted Cash                                      166,426
    Restricted cash and securities                             0
    Deferred Income Taxes                              1,068,308
    Goodwill                                              48,568
    Investment in Affiliates                              28,463
    Investment in Subsidiaries                         2,022,050
    Notes Receivable - Intercompany                        5,270
    Other Non-current Assets                             329,264
                                                     -----------
Total Other Assets                                     3,672,569

Plant & Equipment:
    Land                                                  35,635
    Buildings & Leasehold Improvements                   551,275
    Machinery & Equipment                              2,174,837
    Construction in Progress                              69,517
    Less: Accumulated Depreciation                     1,536,481
                                                     -----------
Net Plant and Equipment                                1,294,783
                                                     -----------
TOTAL ASSETS                                          $7,148,531
                                                     ===========

Liabilities not Subject to Compromise:
    Accounts Payable & Accrued Liabilities               426,758
    Inter-company Liabilities                            773,772
    Short-term debt                                            0
    Long-term debt - current portion                       1,939
                                                     -----------
Total Current Liabilities                              1,202,469

Long-Term Debt                                             6,196
Other Employee Benefits Liability                        197,554
Pension Plan Liability                                   580,222
Other Liability                                          140,007
                                                     -----------
Total Non-Current Liabilities                            917,783
                                                     -----------
Total Postpetition Liabilities                         2,126,448

Prepetition Liabilities:
    Accounts Payable and Accrued Liabilities             359,107
    Other Employee Benefits Liability                    219,835
    Pension Plan Liability                                     0
    Debt-US Bank Credit Facility                       1,450,986
    Debt-Bonds & Other                                 1,440,543
    Asbestos-Related Liability                         2,731,188
    Inter-company                                      2,519,808
    Other                                                      0
                                                     -----------
Total Prepetition Liabilities                          8,721,467
Total Liabilities                                     10,847,915
Minority Interest                                              0

Stockholder's Equity:
    Common Stock                                         696,004
    Retained Earnings (Deficit)                       (4,058,234)
    Accumulated Comprehensive Income (Loss)               (6,092)
    Other                                               (331,062)
                                                     -----------
Net Stockholder's Equity                              (3,699,384)
                                                     -----------
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY              $7,148,531
                                                     ===========


                  Owens Corning and Subsidiaries
               Consolidated Statements of Operations
                 For the Month Ended July 31, 2004
                          (In Thousands)


Net sales                                               $334,022
Cost of Sales                                            275,239
                                                     -----------
Gross Margin                                              58,784

Operating Expenses:
    Marketing and Administrative Expenses                 33,786
    Science and Technology Expenses                        1,920
    Provision for Asbestos Litigation Claims                   0
    Insider Compensation                                   1,048
    Restructure Costs                                          0
    Other Expenses                                         7,604
                                                     -----------
Income (Loss) from Operations                             14,425

Other Expenses:
    Cost of Borrowed Funds                                   273
    Other                                                      0
                                                     -----------
Income (Loss) Before Reorganization Items                 14,152

Reorganization Items:
    Professional Fees                                      3,690
    U.S. Trustee Quarterly Fees                                0
    Interest Earned on Accumulated Cash                     (750)
    (Gain) Loss from sale of equipment                         0
    (Gain) Loss from Settlement of Liabilities                 0
    Other Reorganization Expenses                          1,906
                                                     -----------
Total Reorganization Expenses                              4,846
                                                     -----------
Income (Loss) Before Income Taxes                          9,307
Provision (credit) for Income Tax                         16,018
                                                     -----------
Income (Loss) Before Minority Interest and
Equity in Net Income (Loss) of Affiliates                 (6,711)

Minority interest                                              0
Equity in net income (loss) of affiliates                    185
                                                     -----------
Net Income (Loss)                                        ($6,526)
                                                     ===========


                  Owens Corning and Subsidiaries
     Consolidated Statements of Cash Receipts & Disbursements
                 For the Month Ended July 31, 2004
                          (In Thousands)


Cash, Beginning of Month                                $591,233

Receipts:
    Customer Receipts                                    305,050
    Inter-company Sales                                    4,205
    Loans and Advances                                         0
    Sale of Assets                                             0
    Other Receipts                                        12,882
    Inter-company Transfers                              104,854
    Transfers from DIP                                   164,146
                                                     -----------
Total Receipts                                          $591,135

Disbursements:
    Net Payroll                                           30,621
    Payroll Taxes                                             22
    Sales Use & Other Taxes                                4,857
    Inventory Purchases                                  129,059
    Insurance                                                813
    Administrative & Selling                              54,543
    Other                                                 94,486
    Inter-company Transfers                               96,528
    Transfers to DIP                                     164,146
    Professional Fees                                      2,492
    U.S. Trustee Quarterly Fees                               12
    Court costs                                                0
    Adjustment                                                 0
                                                     -----------
Total Disbursements                                      577,580

Net Cash Flow                                             13,555
                                                     -----------
Cash -- End of Month                                    $604,788
                                                     ===========

Headquartered in Toledo, Ohio, Owens Corning --
http://www.owenscorning.com/ -- manufactures fiberglass
insulation, roofing materials, vinyl windows and siding, patio
doors, rain gutters and downspouts.  The Company filed for chapter
11 protection on October 5, 2000 (Bankr. Del. Case. No. 00-03837).
Mark S. Chehi, Esq., at Skadden, Arps, Slate, Meagher & Flom,
represents the Debtors in their restructuring efforts.  At
Sept. 30, 2004, the Company's balance sheet shows $7.5 billion in
assets and a $4.2 billion stockholders' deficit.  The company
reported $132 million of net income in the nine-month period
ending Sept. 30, 2004.  (Owens Corning Bankruptcy News, Issue No.
91; Bankruptcy Creditors' Service, Inc., 215/945-7000)


OWENS CORNING: Reports $14 Million Net Loss in August 2004
----------------------------------------------------------

                  Owens Corning and Subsidiaries
                    Consolidated Balance Sheets
                       As of August 31, 2004
                          (In Thousands)


Current Assets:
    Cash and cash equivalents                           $641,504
    Receivables                                          387,440
    Receivables-Inter-company                            981,577
    Inventories                                          189,471
    Insurance for Asbestos Litigation Claims                   0
    Deferred Income Taxes                                    484
    Income Tax Receivable                                  6,476
    Other Current Assets                                  25,526
                                                     -----------
Total Current Assets                                  $2,230,478

Other Assets:
    Insurance for Asbestos Litigation Claims               4,220
    Restricted Cash                                      166,962
    Restricted cash and securities                             0
    Deferred Income Taxes                              1,043,647
    Goodwill                                              48,568
    Investment in Affiliates                              28,447
    Investment in Subsidiaries                         2,022,050
    Notes Receivable - Intercompany                        5,270
    Other Non-current Assets                             322,894
                                                     -----------
Total Other Assets                                     3,642,058

Plant & Equipment:
    Land                                                  35,635
    Buildings & Leasehold Improvements                   551,067
    Machinery & Equipment                              2,172,764
    Construction in Progress                              75,014
    Less: Accumulated Depreciation                     1,549,817
                                                     -----------
Net Plant and Equipment                                1,284,663
                                                     -----------
TOTAL ASSETS                                          $7,157,199
                                                     ===========

Liabilities not Subject to Compromise:
    Accounts Payable & Accrued Liabilities               430,488
    Inter-company Liabilities                            789,894
    Short-term debt                                            0
    Long-term debt - current portion                       1,934
                                                     -----------
Total Current Liabilities                              1,222,316

Long-Term Debt                                             6,192
Other Employee Benefits Liability                        201,661
Pension Plan Liability                                   580,298
Other Liability                                          140,655
                                                     -----------
Total Non-Current Liabilities                            922,614
                                                     -----------
Total Postpetition Liabilities                         2,151,122

Prepetition Liabilities:
    Accounts Payable and Accrued Liabilities             359,584
    Other Employee Benefits Liability                    217,602
    Pension Plan Liability                                     0
    Debt-US Bank Credit Facility                       1,450,986
    Debt-Bonds & Other                                 1,440,465
    Asbestos-Related Liability                         2,731,188
    Inter-company                                      2,519,808
    Other                                                      0
                                                     -----------
Total Prepetition Liabilities                          8,719,633
Total Liabilities                                     10,870,755
Minority Interest                                              0

Stockholder's Equity:
    Common Stock                                         696,004
    Retained Earnings (Deficit)                       (4,072,383)
    Accumulated Comprehensive Income (Loss)               (6,121)
    Other                                               (331,056)
                                                     -----------
Net Stockholder's Equity                              (3,713,556)
                                                     -----------
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY              $7,157,199
                                                     ===========


                  Owens Corning and Subsidiaries
               Consolidated Statements of Operations
                For the Month Ended August 31, 2004
                          (In Thousands)


Net sales                                               $357,690
Cost of Sales                                            294,923
                                                     -----------
Gross Margin                                              62,767

Operating Expenses:
    Marketing and Administrative Expenses                 30,104
    Science and Technology Expenses                        2,107
    Provision for Asbestos Litigation Claims                   0
    Insider Compensation                                   1,048
    Restructure Costs                                          0
    Other Expenses                                        12,727
                                                     -----------
Income (Loss) from Operations                             16,781

Other Expenses:
    Cost of Borrowed Funds                                   246
    Other                                                      0
                                                     -----------
Income (Loss) Before Reorganization Items                 16,535

Reorganization Items:
    Professional Fees                                      3,638
    U.S. Trustee Quarterly Fees                                1
    Interest Earned on Accumulated Cash                     (984)
    (Gain) Loss from sale of equipment                         0
    (Gain) Loss from Settlement of Liabilities                 0
    Other Reorganization Expenses                          3,350
                                                     -----------
Total Reorganization Expenses                              6,005
                                                     -----------
Income (Loss) Before Income Taxes                         10,530
Provision (credit) for Income Tax                         24,672
                                                     -----------
Income (Loss) Before Minority Interest and
Equity in Net Income (Loss) of Affiliates                (14,142)

Minority interest                                             (2)
Equity in net income (loss) of affiliates                     (5)
                                                     -----------
Net Income (Loss)                                       ($14,149)
                                                     ===========


                  Owens Corning and Subsidiaries
     Consolidated Statements of Cash Receipts & Disbursements
               For the Month Ended August 31, 2004
                          (In Thousands)


Cash, Beginning of Month                                $604,788

Receipts:
    Customer Receipts                                    335,112
    Inter-company Sales                                      935
    Loans and Advances                                         0
    Sale of Assets                                             0
    Other Receipts                                          (982)
    Inter-company Transfers                              103,821
    Transfers from DIP                                   310,360
                                                     -----------
Total Receipts                                          $749,246

Disbursements:
    Net Payroll                                           34,409
    Payroll Taxes                                             24
    Sales Use & Other Taxes                                6,010
    Inventory Purchases                                  130,732
    Insurance                                              1,974
    Administrative & Selling                              54,366
    Other                                                 86,763
    Inter-company Transfers                               85,044
    Transfers to DIP                                     310,360
    Professional Fees                                      2,846
    U.S. Trustee Quarterly Fees                                1
    Court costs                                                0
    Adjustment                                                 0
                                                     -----------
Total Disbursements                                      712,530

Net Cash Flow                                             36,716
                                                     -----------
Cash -- End of Month                                    $641,504
                                                     ===========

Headquartered in Toledo, Ohio, Owens Corning --
http://www.owenscorning.com/ -- manufactures fiberglass
insulation, roofing materials, vinyl windows and siding, patio
doors, rain gutters and downspouts.  The Company filed for chapter
11 protection on October 5, 2000 (Bankr. Del. Case. No. 00-03837).
Mark S. Chehi, Esq., at Skadden, Arps, Slate, Meagher & Flom,
represents the Debtors in their restructuring efforts.  At
Sept. 30, 2004, the Company's balance sheet shows $7.5 billion in
assets and a $4.2 billion stockholders' deficit.  The company
reported $132 million of net income in the nine-month period
ending Sept. 30, 2004.  (Owens Corning Bankruptcy News, Issue No.
91; Bankruptcy Creditors' Service, Inc., 215/945-7000)


OWENS CORNING: Earns $2.4 Million of Net Income in September 2004
-----------------------------------------------------------------

                  Owens Corning and Subsidiaries
                    Consolidated Balance Sheets
                       As of September 30, 2004
                          (In Thousands)


Current Assets:
    Cash and cash equivalents                           $490,946
    Receivables                                          411,492
    Receivables-Inter-company                            981,613
    Inventories                                          174,266
    Insurance for Asbestos Litigation Claims                   0
    Deferred Income Taxes                                    484
    Income Tax Receivable                                  6,476
    Other Current Assets                                  26,574
                                                     -----------
Total Current Assets                                  $2,091,851

Other Assets:
    Insurance for Asbestos Litigation Claims               4,220
    Restricted Cash                                      166,998
    Restricted cash and securities                             0
    Deferred Income Taxes                              1,041,797
    Goodwill                                              48,568
    Investment in Affiliates                              28,793
    Investment in Subsidiaries                         2,022,050
    Notes Receivable - Intercompany                        5,270
    Other Non-current Assets                             545,177
                                                     -----------
Total Other Assets                                     3,862,873

Plant & Equipment:
    Land                                                  35,635
    Buildings & Leasehold Improvements                   550,605
    Machinery & Equipment                              2,175,009
    Construction in Progress                              54,622
    Less: Accumulated Depreciation                     1,536,824
                                                     -----------
Net Plant and Equipment                                1,279,047
                                                     -----------
TOTAL ASSETS                                          $7,233,771
                                                     ===========

Liabilities not Subject to Compromise:
    Accounts Payable & Accrued Liabilities               474,030
    Inter-company Liabilities                            807,123
    Short-term debt                                            0
    Long-term debt - current portion                       1,929
                                                     -----------
Total Current Liabilities                              1,283,082

Long-Term Debt                                             6,187
Other Employee Benefits Liability                        204,542
Pension Plan Liability                                   580,390
Other Liability                                          151,868
                                                     -----------
Total Non-Current Liabilities                            936,800
                                                     -----------
Total Postpetition Liabilities                         2,226,069

Prepetition Liabilities:
    Accounts Payable and Accrued Liabilities             358,460
    Other Employee Benefits Liability                    215,369
    Pension Plan Liability                                     0
    Debt-US Bank Credit Facility                       1,450,986
    Debt-Bonds & Other                                 1,507,528
    Asbestos-Related Liability                         2,731,188
    Inter-company                                      2,452,666
    Other                                                      0
                                                     -----------
Total Prepetition Liabilities                          8,716,197
Total Liabilities                                     10,942,266
Minority Interest                                              0

Stockholder's Equity:
    Common Stock                                         696,004
    Retained Earnings (Deficit)                       (4,070,001)
    Accumulated Comprehensive Income (Loss)               (5,950)
    Other                                               (328,548)
                                                     -----------
Net Stockholder's Equity                              (3,708,495)
                                                     -----------
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY              $7,233,771
                                                     ===========


                  Owens Corning and Subsidiaries
               Consolidated Statements of Operations
               For the Month Ended September 30, 2004
                          (In Thousands)


Net sales                                               $350,419
Cost of Sales                                            286,103
                                                     -----------
Gross Margin                                              64,317

Operating Expenses:
    Marketing and Administrative Expenses                 30,319
    Science and Technology Expenses                        1,720
    Provision for Asbestos Litigation Claims                   0
    Insider Compensation                                   1,048
    Restructure Costs                                          0
    Other Expenses                                         8,361
                                                     -----------
Income (Loss) from Operations                             22,869

Other Expenses:
    Cost of Borrowed Funds                                   212
    Other                                                      0
                                                     -----------
Income (Loss) Before Reorganization Items                 22,657

Reorganization Items:
    Professional Fees                                      4,086
    U.S. Trustee Quarterly Fees                               13
    Interest Earned on Accumulated Cash                     (474)
    (Gain) Loss from sale of equipment                         0
    (Gain) Loss from Settlement of Liabilities                 0
    Other Reorganization Expenses                          1,890
                                                     -----------
Total Reorganization Expenses                              5,515
                                                     -----------
Income (Loss) Before Income Taxes                         17,142
Provision (credit) for Income Tax                         14,577
                                                     -----------
Income (Loss) Before Minority Interest and
Equity in Net Income (Loss) of Affiliates                  2,565

Minority interest                                             (2)
Equity in net income (loss) of affiliates                   (181)
                                                     -----------
Net Income (Loss)                                         $2,382
                                                     ===========


                  Owens Corning and Subsidiaries
     Consolidated Statements of Cash Receipts & Disbursements
              For the Month Ended September 30, 2004
                          (In Thousands)


Cash, Beginning of Month                                $641,504

Receipts:
    Customer Receipts                                    323,050
    Inter-company Sales                                    4,062
    Loans and Advances                                         0
    Sale of Assets                                             0
    Other Receipts                                        15,307
    Inter-company Transfers                              110,085
    Transfers from DIP                                   682,959
                                                     -----------
Total Receipts                                        $1,135,463

Disbursements:
    Net Payroll                                           29,913
    Payroll Taxes                                              0
    Sales Use & Other Taxes                                9,780
    Inventory Purchases                                  114,691
    Insurance                                                723
    Administrative & Selling                              51,791
    Other                                                308,797
    Inter-company Transfers                               84,602
    Transfers to DIP                                     682,959
    Professional Fees                                      2,764
    U.S. Trustee Quarterly Fees                                0
    Court costs                                                0
    Adjustment                                                 0
                                                     -----------
Total Disbursements                                    1,286,021

Net Cash Flow                                           (150,558)
                                                     -----------
Cash -- End of Month                                    $490,946
                                                     ===========

Headquartered in Toledo, Ohio, Owens Corning --
http://www.owenscorning.com/ -- manufactures fiberglass
insulation, roofing materials, vinyl windows and siding, patio
doors, rain gutters and downspouts.  The Company filed for chapter
11 protection on October 5, 2000 (Bankr. Del. Case. No. 00-03837).
Mark S. Chehi, Esq., at Skadden, Arps, Slate, Meagher & Flom,
represents the Debtors in their restructuring efforts.  At
Sept. 30, 2004, the Company's balance sheet shows $7.5 billion in
assets and a $4.2 billion stockholders' deficit.  The company
reported $132 million of net income in the nine-month period
ending Sept. 30, 2004.  (Owens Corning Bankruptcy News, Issue No.
91; Bankruptcy Creditors' Service, Inc., 215/945-7000)


OWENS CORNING: Earns $1.7 Million of Net Income in October 2004
---------------------------------------------------------------

                  Owens Corning and Subsidiaries
                    Consolidated Balance Sheets
                      As of October 31, 2004
                          (In Thousands)


Current Assets:
    Cash and cash equivalents                          $560,082
    Receivables                                         405,003
    Receivables-Inter-company                           981,725
    Inventories                                         164,278
    Insurance for Asbestos Litigation Claims                  0
    Deferred Income Taxes                                   484
    Income Tax Receivable                                 6,476
    Other Current Assets                                 20,256
                                                    -----------
Total Current Assets                                 $2,138,304

Other Assets:
    Insurance for Asbestos Litigation Claims              4,220
    Restricted Cash                                     167,154
    Restricted cash and securities                            0
    Deferred Income Taxes                             1,023,484
    Goodwill                                             48,568
    Investment in Affiliates                             29,074
    Investment in Subsidiaries                        2,022,050
    Notes Receivable - Intercompany                       5,270
    Other Non-current Assets                            542,862
                                                    -----------
Total Other Assets                                    3,842,682

Plant & Equipment:
    Land                                                 35,665
    Buildings & Leasehold Improvements                  547,056
    Machinery & Equipment                             2,164,603
    Construction in Progress                             60,402
    Less: Accumulated Depreciation                    1,530,983
                                                    -----------
Net Plant and Equipment                               1,276,743
                                                    -----------
TOTAL ASSETS                                         $7,257,729
                                                    ===========

Liabilities not Subject to Compromise:
    Accounts Payable & Accrued Liabilities              481,801
    Inter-company Liabilities                           819,666
    Short-term debt                                           0
    Long-term debt - current portion                      1,923
                                                    -----------
Total Current Liabilities                             1,303,390

Long-Term Debt                                            6,182
Other Employee Benefits Liability                       207,314
Pension Plan Liability                                  580,482
Other Liability                                         154,084
                                                    -----------
Total Non-Current Liabilities                           941,880
                                                    -----------
Total Postpetition Liabilities                        2,251,452

Prepetition Liabilities:
    Accounts Payable and Accrued Liabilities            357,333
    Other Employee Benefits Liability                   213,136
    Pension Plan Liability                                    0
    Debt-US Bank Credit Facility                      1,450,986
    Debt-Bonds & Other                                1,507,448
    Asbestos-Related Liability                        2,731,188
    Inter-company                                     2,452,666
    Other                                                     0
                                                    -----------
Total Prepetition Liabilities                         8,712,757
Total Liabilities                                    10,964,209
Minority Interest                                             0

Stockholder's Equity:
    Common Stock                                        695,958
    Retained Earnings (Deficit)                      (4,068,327)
    Accumulated Comprehensive Income (Loss)              (5,580)
    Other                                              (328,531)
                                                    -----------
Net Stockholder's Equity                             (3,706,480)
                                                    -----------
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY             $7,257,729
                                                    ===========


                  Owens Corning and Subsidiaries
               Consolidated Statements of Operations
                For the Month Ended October 31, 2004
                          (In Thousands)


Net sales                                              $366,406
Cost of Sales                                           291,528
                                                    -----------
Gross Margin                                             74,878

Operating Expenses:
    Marketing and Administrative Expenses                35,903
    Science and Technology Expenses                       1,620
    Provision for Asbestos Litigation Claims                  0
    Insider Compensation                                    804
    Restructure Costs                                         0
    Other Expenses                                        7,803
                                                    -----------
Income (Loss) from Operations                            28,748

Other Expenses:
    Cost of Borrowed Funds                                  184
    Other                                                     0
                                                    -----------
Income (Loss) Before Reorganization Items                28,564

Reorganization Items:
    Professional Fees                                     7,802
    U.S. Trustee Quarterly Fees                              (2)
    (Gain) Loss from sale of equipment                        0
    (Gain) Loss from Settlement of Liabilities                0
    Other Reorganization Expenses                         1,634
                                                    -----------
Total Reorganization Expenses                             8,860
                                                    -----------
Income (Loss) Before Income Taxes                        19,704
Provision (credit) for Income Tax                        18,198
                                                    -----------
Income (Loss) Before Minority Interest and
Equity in Net Income (Loss) of Affiliates                 1,506

Minority interest                                             0
Equity in net income (loss) of affiliates                   168
                                                    -----------
Net Income (Loss)                                        $1,674
                                                    ===========


                  Owens Corning and Subsidiaries
     Consolidated Statements of Cash Receipts & Disbursements
               For the Month Ended October 31, 2004
                          (In Thousands)


Cash, Beginning of Month                               $490,946

Receipts:
    Customer Receipts                                   372,761
    Inter-company Sales                                   3,363
    Loans and Advances                                        0
    Sale of Assets                                            0
    Other Receipts                                       13,988
    Inter-company Transfers                             104,588
    Transfers from DIP                                  217,982
                                                    -----------
Total Receipts                                         $712,681

Disbursements:
    Net Payroll                                          33,549
    Payroll Taxes                                            15
    Sales Use & Other Taxes                               5,970
    Inventory Purchases                                 130,707
    Insurance                                               759
    Administrative & Selling                             55,237
    Other                                               103,366
    Inter-company Transfers                              93,260
    Transfers to DIP                                    217,982
    Professional Fees                                     2,688
    U.S. Trustee Quarterly Fees                              12
    Court costs                                               0
    Adjustment                                                0
                                                    -----------
Total Disbursements                                     643,545

Net Cash Flow                                            69,136
                                                    -----------
Cash -- End of Month                                   $560,082
                                                    ===========

Headquartered in Toledo, Ohio, Owens Corning --
http://www.owenscorning.com/ -- manufactures fiberglass
insulation, roofing materials, vinyl windows and siding, patio
doors, rain gutters and downspouts.  The Company filed for
chapter 11 protection on October 5, 2000 (Bankr. Del. Case.
No. 00-03837).  Mark S. Chehi, Esq., at Skadden, Arps, Slate,
Meagher & Flom, represents the Debtors in their restructuring
efforts.  At Sept. 30, 2004, the Company's balance sheet shows
$7.5 billion in assets and a $4.2 billion stockholders' deficit.
The company reported $132 million of net income in the nine-month
period ending Sept. 30, 2004.  (Owens Corning Bankruptcy News,
Issue No. 91; Bankruptcy Creditors' Service, Inc., 215/945-7000)


PARMALAT: Farmland Dairies' November 2004 Monthly Operating Report
------------------------------------------------------------------

                        Farmland Dairies, LLC
                            Balance Sheet
                       As of November 20, 2004


Assets

Cash & Cash Equivalents                              $9,738,595
Accounts Receivable-Trade                            39,348,301
Accounts Rec.-Securitization                        (33,931,087)
Notes Receivable                                        224,109
Inventory                                            15,160,712
Prepaid Expenses                                     11,674,231
Other Current Assets                                  6,096,122
                                                 --------------
Total Current Assets                                 48,310,983

Fixed Assets                                        210,276,729
Accumulated Depreciation                            116,923,334
                                                 --------------
Net Fixed Assets                                     93,353,395

Other Assets                                         43,747,658
Intercompany Receivables                             69,321,412
                                                 --------------
Total Assets                                       $254,733,448
                                                 ==============

Liabilities Subject to Compromise:
   Accounts Payable                                  14,767,637
   Accrued Expenses                                   3,147,370
   Intercompany Payables                             25,318,781
   Capital Lease                                     95,000,000
                                                 --------------
Total Liabilities Subject to Compromise             138,233,788

Liabilities:
   Notes & Loans Payable                                      0
   Capital Leases - Short Term                                0
   Accounts Payable                                  15,707,080
   Accrued Expenses                                  23,525,616
                                                 --------------
Total Current Liabilities                            39,232,696
Notes & Loans Payable                                31,253,096
Capital Leases - Long Term                               41,491
Other                                                 8,389,235
                                                 --------------
Total Long Term Liabilities                          39,683,822

Intercompany Payables                               (82,068,989)
                                                 --------------
Total Liabilities                                   135,081,317

Equity
Paid In Capital                                     161,506,590
Accum Comprehensive Income                           (7,013,988)
Retained Earnings                                    11,323,693
YTD Net Income/(Loss)                               (46,164,164)
                                                 --------------
Total Equity                                        119,652,131
                                                 --------------
Total Liabilities & Owners' Equity                 $254,733,448
                                                 ==============


                        Farmland Dairies, LLC
                          Income Statement
             From October 24, 2004, to November 20, 2004


Revenues
   Gross sales                                      $33,691,888
   Less: Returns & discounts                            811,965
                                                 --------------
   Net sales                                         32,879,923

Expenses
   Raw Materials & Ingredients                       21,465,497
   Packaging                                          2,536,196
   Direct Labor                                         838,793
   Power                                                454,765
   Freight                                              293,951
   Distribution                                       2,500,029
   Industrial Depreciation                              385,150
   Production Overhead                                2,198,724
   Warehouse (Cooler)                                 1,602,393
   Marketing Costs                                      601,980
   Sales Admin Expenses                                 347,168
   General Expenses                                     937,371
   Financial Costs                                      830,425
   Goodwill/trademarks                                    6,756
   Extraordinary                                         73,313
   Corporate Allocation                                       0
   Provision for Income Taxes                            79,577
                                                 --------------
   Total Expenses                                    34,992,934

Reorganization Expenses                               1,078,634
                                                 --------------
Net Profit (Loss)                                   ($3,191,645)
                                                 ==============


                        Farmland Dairies, LLC
                   Cash Receipts and Disbursements
             From October 24, 2004, to November 20, 2004


Cash - Beginning of Month                            $6,204,955

Receipts From Operations
   Cash Sales                                                 0

Collection of Accounts Receivable
   Prepetition                                          100,555
   Postpetition                                      32,893,316
                                                 --------------
   Total Operating Receipts                          32,993,871

Non - Operating Receipts
   Payments from/(to) GE Capital                      6,000,000
   Voided Checks (Prepetition)                                -
   Adjustments                                         (110,806)
   Deposits -- Other                                    606,750
   Transfers                                                  0
                                                 --------------
   Total Non-Operating Receipts                       6,495,944
                                                 --------------
   Total Receipts                                    39,489,815
                                                 --------------
Total Cash Available                                 45,694,770

Operating Disbursements
   Chemicals                                            308,602
   Commissions                                           67,414
   Consulting/Legal                                     180,754
   Co-packing                                           559,028
   Employee & Employee-related expenses                 805,079
   Equipment Leases                                     415,044
   Freight & Postage                                    185,858
   Fuel                                                 109,997
   Transportation                                       529,667
   Ingredients                                          923,628
   Insurance                                          3,644,992
   Lab Fees                                              61,113
   Licenses & Taxes                                     140,062
   Marketing                                             16,169
   Other                                                354,542
   Packaging                                          2,138,401
   Pallets/Cases/Bossies                                174,279
   Milk Producers                                    13,055,629
   Marketing Administrator                              958,985
   Purchased Products                                   976,143
   R & M, Parts, Supplies                               810,099
   Raw Milk                                             896,598
   Rebates                                               63,019
   Rent                                                 200,510
   Security                                             109,644
   Temporary Labor                                       68,716
   Travel & Entertainment                                29,110
   Utilities                                            898,557
   Securitization Payments                            2,481,867
   Payroll                                            3,158,397
   Payroll Taxes                                        373,554
   Voided Checks (Postpetition)                               0
                                                 --------------
   Total expenses                                    34,695,457

Reorganization Expenses
   Professional Fees                                  1,061,575
   U.S. Trustee Fees                                     10,250
   DIP Interest & Fees                                  188,893
                                                 --------------
   Total Reorganization Expenses                      1,260,718
                                                 --------------
Total Disbursements                                  35,956,175
                                                 --------------
Net Cash Flow                                         3,533,640
                                                 --------------
Cash - End of Month                                  $9,738,595
                                                 ==============

Headquartered in Wallington, New Jersey, Parmalat USA Corporation
-- http://www.parmalatusa.com/ -- generates more than 7 billion
euros in annual revenue.  The Parmalat Group's 40-some brand
product line includes milk, yogurt, cheese, butter, cakes and
cookies, breads, pizza, snack foods and vegetable sauces, soups
and juices and employs over 36,000 workers in 139 plants located
in 31 countries on six continents.  The Company filed for chapter
11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No.
04- 11139).  Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at
Weil Gotshal & Manges LLP represent the Debtors in their
restructuring efforts.  On June 30, 2003, the Debtors listed
EUR2,001,818,912 in assets and EUR1,061,786,417 in debts.
(Parmalat Bankruptcy News, Issue No. 39; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


PARMALAT: Finanziaria Reports October 2004 Financial Results
------------------------------------------------------------
Parmalat Finanziaria SpA in Extraordinary Administration
communicates the operating and financial results of the Parmalat
Group as of Oct. 31, 2004.

A number of the non-Italian operations of the Group classified as
non-core that at Dec. 31, 2003 were consolidated line by line (for
example, USA Dairy, Brazil, Chile and EVH) and certain financial
companies (for example, Parmalat Capital Finance) are currently
subject to certain restrictions on their management as a result of
local bankruptcy proceedings, with the result that these
operations are effectively outside the control of Parmalat
Finanziaria SpA in Extraordinary Administration.  For this reason,
the Group no longer consolidates these companies on a line-by-line
basis.

More specifically: Parmalat USA Corp., Farmland Dairies, and
Milk Products of Alabama, which constitute the USA Dairy Division
(these milk and dairy products operations have filed for Chapter
11 bankruptcy protection); two Brazilian companies (Parmalat
Brasil and Parmalat Participacoes), which have successfully filed
for composition with creditors under a local proceeding called
Concordata, which applies to their subsidiaries as well; the
Chilean operations, which have filed for composition with
creditors locally; EVH, a company incorporated in Canada that has
been granted creditor protection under the Companies' Creditors
Arrangement Act; and Parmalat Capital Finance, which has been
placed in liquidation by the local court.  This group of
companies also includes Eurofood IFSC, which is currently the
subject of a dispute with the Irish judicial authorities, who
allege that the Italian Extraordinary Administration proceedings
cannot be applied to this company.

Consequently, the pro forma data for the previous year have
been restated to reflect the new scope of the line-by-line
consolidation process and compared with those of the current
fiscal year.

                       Financial Highlights

                    Cumulative Through October
                         (in EUR millions)

                                           Revenues
                               --------------------------------
                               Previous  Previous year  Current
                               year      Pro-Forma      year
                               --------  -------------  -------
     Core Businesses            3,127.2        3,127.2  3,047.6
     Non Core Businesses        1,399.2          576.8    484.5
                               --------  -------------  -------
     Total                      4,526.4        3,704.0  3,532.1
                               ========  =============  =======

                                            EBITDA
                               --------------------------------
                               Previous  Previous year  Current
                               year      Pro-Forma      year
                               --------  -------------  -------
     Core Businesses              179.0          179.0    214.4
     Non Core Businesses          (61.0)         (37.7)    14.5
                               --------  -------------  -------
     Total                        118.0          141.3    228.9
                               ========  =============  =======

                                         % of Revenues
                               --------------------------------
                               Previous  Previous year  Current
                               year      Pro-Forma      year
                               --------  -------------  -------
     Core Businesses                5.7            5.7      7.0
     Non Core Businesses           (4.4)          (6.5)     3.0
                               --------  -------------  -------
     Total                          2.6            3.8      6.5
                               ========  =============  =======

      * The Core Businesses include the following product
        categories: beverages (milk and fruit juices) and dairy
        products sold under some 30 brands primarily in high-
        potential countries where there is sustained demand for
        health products, consumers are willing to pay a premium
        price for Parmalat brands, and where there is access to
        cutting-edge technologies.

     ** The Non-core Businesses are those that are located in
        countries or engaged in activities that are not
        strategically significant and have been earmarked for
        divestiture.

Group's consolidated data present a strong increase of the
operative result (from EUR 141.3 million situation pro-forma on
October 2003 to EUR228.9 million on October 2004) due to the re-
organization and restructuring activities implemented during the
current year, although there has been a volume reduction (from
EUR3,704.0 million situation pro forma on October 2003 to
EUR3,532.1 million on October 2004, - 4,6%).

                         Core Businesses

The Group's Core Businesses had revenues of EUR3,047.6 million in
the first ten months of 2004, down slightly (-2.5%) from the
EUR3,127.2 million booked in the same period last year, but EBITDA
increased to EUR214.4 million, or 19.8% more than the
EUR179.0 million earned in the ten months ended Oct. 31, 2003.

Successful marketing initiatives and efforts to curtail
operating costs and overheads are the reasons for the improved
operating performance.

The operating data are before expenses related to the
Extraordinary Administration proceedings.  The accrued portion
attributable to the first ten months of 2004 amounts to about
EUR60.0 million.

October 2004 revenues (the difference between the cumulative
revenues at October 31 and September 30) totaled EUR325.4
million, or 7.8% less than in the same period last year (EUR350.8
million).  However, EBITDA rose 21.4% to EUR21.5 million (EUR16.9
million in October 2003).

An analysis of the Group's performance in the main
geographic regions in which it operates is provided:

     -- Italy

        In the first ten months of 2004, revenues decreased to
        EUR1,140.8 million, or 9.8% less than the EUR1,253.2
        million reported at Oct. 31, 2003.

        As was the case in September, the revenue shortfall was
        accompanied by an increase in ten-month EBITDA, which
        grew from EUR65.9 million in 2003 to EUR70.2 million this
        year.  The ratio of EBITDA to net revenues improved by
        6.5%, rising from 5.3% in 2003 to 6.1% this year.

        In October 2004, revenues amounted to EUR111.7 million
        and EBITDA decreased to EUR3.6 million (3.2% of revenues)
        due to a rise in advertising investments.

        The resumption of advertising programs (the Kyr campaign
        in particular) has already produced a rise in unit sales,
        as seen in the September and October sales figures.
        Other recent promotional and advertising campaigns
        (Zymil, Eurolat products) should generate additional
        sales momentum in the coming months.

     -- Spain

        Revenues for the first ten months of 2004 totaled
        EUR189.5 million, or 3.1% less than the EUR195.5 million
        reported a year earlier.  EBITDA were also down,
        decreasing both in absolute terms (down 32.6%, from
        EUR19.0 million to EUR12.8 million) and as a percentage
        of revenues (from 9.7% to 6.7%).

        For the month of October, revenues and EBITDA totaled
        EUR16.6 million and EUR0.5 million (3.0% of revenues),
        respectively.

        The main reasons for the sharp decline in EBITDA compared
        with October 2003 are a rise in costs, which could not be
        fully offset by price increases for affected products,
        and the inclement weather that characterized the summer
        of 2004.

        In addition, specific problems arose in certain market
        segments: in the yogurt (bioliquids in particular) and
        dessert areas, sales were affected by aggressive
        promotions from competitors with a global reach, and
        increasingly intense television advertising by
        competitors had an impact on the flavored milk segment.

        Another factor that affected the year-over-year
        comparison of the October results was the smaller number
        of business days (five weekends and a holiday this year,
        compared with just four weekends in 2003).

     -- South Africa

        Revenues for the first ten months of 2004 grew to
        EUR201.8 million, up 28.2% compared with the EUR157.4
        million reported in the same period a year ago.  EBITDA
        improved in absolute terms, rising to EUR17.2 million, or
        17.0% more than the EUR14.7 million earned in 2003, but
        declined as a percentage of revenues (down from 9.3% to
        8.5%).

        In October 2004, the South African operations booked
        revenues of EUR23.5 million and earned EBITDA of EUR3.0
        million (12.8% of revenues).

        The positive trend in revenues and EBITDA, compared with
        the first ten months of 2003, was made possible by the
        acquisition of new brands (Simonsberg and Melrose);
        higher unit sales of yogurt and milk and sharply higher
        shipments of UHT milk; and the positive impact of the
        appreciation of the South African rand versus the euro
        (+6.7%).  Unfortunately, EBITDA did not benefit in the
        same manner due to a change in the sales mix to the
        advantage of less profitable products (such as bulk
        cheese) and the impact of higher oil prices on production
        costs.

     -- Venezuela

        In October 2004, the slide of the bolivar versus the
        euro, which had reached an unprecedented level earlier
        in 2004 (-26.3% compared with 2003) came to a virtual
        halt compared with September 2004, when it was down 26.5%
        compared with September 2003.

        Revenues for the first ten months of 2004 decreased 26.9%
        to EUR122.6 million (EUR167.8 million in 2003) and EBITDA
        contracted in absolute terms (EUR4.2 million, compared
        with EUR20.0 million in 2003) and as a percentage of
        revenues (down from 11.9% to 3.5%).

        For the month of October 2004, revenues totaled EUR11.9
        million and EBITDA amounted to EUR0.4 million (3.4%
        of revenues).

        The two main reasons for the sharp deterioration in the
        operating performance of the Venezuelan operations are
        the difficulties experienced by the Venezuelan economy,
        which resulted in a halt in the importation of numerous
        raw materials, and the decision by the Venezuelan
        Government to regulate the markets for certain essential
        staples, which include "basic" powdered milk.  The Group
        responded to these developments by implementing a process
        designed to refocus the Venezuelan operations, beginning
        with the restructuring of the local operating unit.

     -- Canada

        Cumulative revenues at Oct. 31, 2004 totaled EUR964.2
        million, about the same as in the corresponding period a
        year ago (EUR960.2 million).  The modest improvement in
        net revenues produced impressive gains in EBITDA, which
        rose 21.1% in absolute terms (EUR66.1 million, compared
        with EUR54.6 million for the ten months ended October 31,
        2003) and 1.2 points as a percentage of revenues (from
        5.7% to 6.9%).

        In October 2004, revenues totaled EUR114.9 million and
        EBITDA amounted to EUR10.2 million (8.9% of revenues).

        The excellent results achieved by the Canadian operations
        despite the negative performance of the local currency
        (in October, the Canadian dollar was down 2.4% versus the
        euro) was made possible mainly by strong sales of basic
        ingredients and cheese.  As expected, the implementation
        by local managers of some of the initiatives outlined in
        the Industrial Plan provided a further boost to the
        bottom line.  These initiatives include: renegotiations
        of contracts with certain suppliers; expansion of the
        contract with Canada's largest retail chain; reduction of
        promotional and advertising expenses, distribution costs
        and overhead; reorganization of the manufacturing
        processes; and a streamlining of the product portfolio.

        Another positive development was the recent launch of the
        Omega 3 product line, which is expected to produce
        significant economic benefits in the future.

     -- Australia

        Owing in part to the appreciation of the Australian
        dollar versus the euro (+4.1% compared with the average
        rate through October 2003), revenues grew to EUR317.1
        million, up from EUR308.2 million in the first ten months
        of 2003 (+2.9%).  Over the same period, EBITDA increased
        from EUR26.1 million to EUR27.0 million (+3.5%).

        In October 2004, net revenues totaled EUR39.5 million and
        EBITDA amounted to EUR4.4 million (11.1% of revenues).

        Factors that contributed to these improved results, in
        addition to the impact of foreign exchange translation
        rates, include: higher unit sales of milk (especially
        pasteurized milk) and yogurt, the containment of overhead
        and promotional expenses, a more effective raw materials
        procurement policy and the implementation of programs to
        reduce complexity.

                        Non-core Businesses

The Group's Non-core Businesses reported revenues of
EUR484.5 million, or 16.0% less than the EUR576.8 million
booked in the first ten months of 2003.

As was the case in the first nine months of 2004, EBITDA for
the first ten months were positive, reaching EUR14.5 million
(negative EBITDA of EUR37.7 million for the ten months ended
October 31, 2003), due mainly to a change in the treatment of
certain items attributed to Parma F.C. that were related to the
sale of some of the team's players.

In October 2004, net revenues totaled EUR51.5 million
(EUR19.2 million in 2003) and EBITDA amounted to EUR1.7
million.

The main reasons for the year-over-year improvement in
cumulative EBITDA are the restatement and programs implemented by
certain Italian businesses and the U.S. baked goods operations
(USA Bakery).

                               Italy

The Divisions of Parmalat S.p.A. that have been designated as
Non-core Businesses had revenues of EUR67.7 million, down
sharply (-34.8%) from the EUR103.8 million reported in October
2003.  Despite this decrease in net revenues, EBITDA improved by
74.0%, with the loss shrinking both in absolute terms (from
negative EUR12.7 million to negative EUR3.3 million) and in
relative terms (from -12.2% to -4.9% of net revenues).  The
decision to discontinue the water business and drastic cuts in
advertising and promotion for baked goods and fruit juices
are the main reasons for the improved results.

                            USA Bakery

The sharp decline suffered by the U.S. dollar versus the
euro (-9.9% since October 2003) had a negative impact on the
results for the period.  Revenues for the first ten months of
2004 totaled EUR238.9 million, or 16.7% less than in the same
period last year, when they totaled EUR286.7 million.

Nevertheless, EBITDA, while still negative, improved by
42.7% both in absolute terms (from negative EUR12.4 million to
negative EUR7.1 million) and in relative terms (from -4.3% to -
3.0% of net revenues).

Overall, the negative impact of lower unit sales and higher
raw materials prices was offset by targeting promotional
investments more effectively, reorganizing the manufacturing
operations and cutting overheads.

                        NET FINANCIAL POSITION

                    Highlights (in EUR millions)

                          Balance
               Balance      as at    Balance   Balance   Balance
                 as at   12/31/03      as at     as at     as at
              12/31/03  Pro-Forma   06/30/04  09/30/04  10/31/04
              --------  ---------   --------  --------  --------
Short term
financial
assets         (121.4)    (104.7)    (130.5)   (173.9)   (348.3)
   broken
   down as:

   Financial
   assets not
   held as
   fixed
   assets       (20.9)     (20.9)      (5.4)     (0.8)     (0.9)

   Liquid
   assets      (100.5)     (83.8)    (125.1)   (173.1)   (347.4)

Financial
accrued
income and
prepaid
expenses (incl.
intra-Group)    (61.9)     (57.2)     (55.0)    (28.5)    (27.3)
             --------  ---------   --------  --------  --------
Total
short-term
financial
assets         (183.3)    (161.9)    (185.5)   (202.4)   (375.6)
             ========  =========   ========  ========  ========

Financial
debts        13,457.5   11,402.6   11,408.0  11,501.0  11,498.6

Financial
accrued
expenses &
deferred
income (incl.
intra-Group)    256.2      200.8      246.6     231.1     232.0
             --------  ---------   --------  --------  --------
Total
financial
liabilities  13,713.7   11,603.4   11,654.6  11,732.1  11,730.6

Indebtedness
owed to
lenders
outside
the Group/
(Financial
assets) of
companies
consolidated
line-by-
line         13,530.4   11,441.5   11,469.1  11,529.7  11,355.0

Indebtedness
owed by
companies
consolidated
line-by-line
to companies
that are
parties to
local
composition
with
creditors
proceedings       -        745.8      745.8     745.8     745.8

Indebtedness/
(Financial
assets) of
companies
consolidated
line-by-
line         13,530.4   12,187.3   12,214.9  12,275.5  12,100.8

Indebtedness/
(Financial
assets) of
companies not
consolidated
line-by-line     49.4        4.3        4.3       4.5       4.3
             --------  ---------   --------  --------  --------
Total
indebtedness/
(financial
assets)      13,579.8   12,191.6   12,219.2  12,279.8  12,105.1
             ========  =========   ========  ========  ========

The Group's net financial position at Oct. 31, 2004, shows an
improvement of EUR174.7 million that reflects primarily
an increase in the liquidity held by Parmalat SpA.

The financial indebtedness owed to lenders outside the Group
by subsidiaries that are parties to local composition-with-
creditors proceedings and, consequently, have been deconsolidated
totaled EUR2,437.3 million.  Because some of these borrowings are
secured by guarantees provided by Parmalat SpA and Parmalat
Finanziaria SpA totaling EUR1,753.4 million, a reserve for risks
of an amount equal to the guaranteed indebtedness (EUR1,675.2
million) has been recognized in the consolidated financial
statements.

The consolidated financial statements also show indebtedness
of EUR745.8 million owed by the Group to companies in special
proceedings that are not consolidated line by line.

As of [Nov. 30, 2004], no amount has been drawn from the
EUR105.8 million line of credit provided to Parmalat SpA by
a pool of banks on Mar. 4, 2004.

A breakdown of the net indebtedness owed to lenders outside the
Group by companies consolidated line-by-line:

                         (in EUR millions)

                        Balance
                        as at      Balance   Balance   Balance
                        12/31/03   as at     as at     as at
                        Pro-Forma  06/30/04  09/30/04  10/31/04
                        ---------  --------  --------  --------
Companies in EA
   subject to proposed
   composition with
   creditors             10,055.3  10,084.0  10,074.8   9,924.0

Other companies in EA        56.9      42.8      58.2      65.5

Other companies           1,329.3   1,342.3   1,396.7   1,365.5
                        ---------  --------  --------  --------
Total indebtedness/
(financial assets)       11,441.5  11,469.1  11,529.7  11,355.0
                        =========  ========  ========  ========

           Companies Under Extraordinary Administration

The net indebtedness incurred by companies under extraordinary
administration toward lenders outside the Group prior to their
becoming eligible for extraordinary administration is all short-
term, since all of these companies are in default of the covenants
of the respective loan agreements.

A noteworthy development is the increase in liquid assets
held by the companies included in the Proposal of Composition
with Creditors.  Such assets rose from EUR24.0 million at
Dec. 31, 2003 to EUR233.3 million at Oct. 31, 2004.  The main
reason for this improvement is the inflow of EUR160.0 million
received under a settlement agreement with Nextra Investment
Management - Societa di gestione del risparmio S.p.A.

                         Other Companies

The remaining operating and financial companies consolidated
line by line that are not included in the extraordinary
administration proceedings had net indebtedness toward lenders
outside the Group of EUR1,329.3 million at Dec. 31, 2003 and
of EUR1,365.5 million at Oct. 31,2004.  The decrease from a
month earlier is due mainly to the deconsolidation of the
indebtedness owed by a divested Dominican company and the
collection of the sales proceeds from the buyer of the Group's
investment in the company in question.  The indebtedness at
Oct. 31, 2004 includes EUR722.3 million in long-term debt.

Some Group companies are currently renegotiating their
indebtedness in order to restructure it.

      Principal Companies Under Extraordinary Administration

Financial highlights of the principal Italian companies
under extraordinary administration:

                      Parmalat Finanziaria SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  09/30/04  10/31/04
                          --------  --------  --------  --------
Short-term
   financial assets        (140.8)   (140.0)    (18.3)    (18.5)
   broken down as:

   Intra-Group loans
   receivable              (138.8)   (138.8)    (17.1)    (17.1)

   Financial assets
   not held as
   fixed assets              (2.0)     (0.0)        -         -

   Liquid assets             (0.0)     (1.1)     (1.2)     (1.4)

Financial accrued income
and prepaid expenses
(including intra-Group)      (0.6)        -      (0.1)     (0.1)
                          --------  --------  --------  --------
Total short-term
financial assets           (141.4)   (140.0)    (18.6)    (18.4)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)   1,269.9   1,272.9   1,277.2   1,278.4
   broken down as:

   Intra-Group
   loans payable          1,007.8   1,010.9   1,015.2   1,016.4

   Other financial
   liabilities              262.1     262.0     262.0     262.0

Financial accrued expenses
and deferred income
(including intra-Group)       4.8       4.7       4.6       4.7
                          --------  --------  --------  --------
Total financial
liabilities               1,274.7   1,277.6   1,281.8   1,283.1
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)        1,133.3   1,137.6   1,263.4   1,264.5
                          ========  ========  ========  ========

In October, intra-Group indebtedness increased by EUR1.2 million.
The balance includes a loan received from Parmalat SpA in
Extraordinary Administration.

                             Parmalat SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  09/30/04  10/31/04
                          --------  --------  --------  --------
Short-term
   financial assets         (54.3)    (61.7)    (64.9)   (212.9)
   broken down as:

   Intra-Group
   loans receivable         (28.0)    (38.6)    (33.9)    (37.4)

   Financial assets not
   held as fixed assets     (19.7)        -         -         -

   Liquid assets             (6.6)    (23.2)    (31.0)   (175.5)

Financial accrued income
and prepaid expenses
(including intra-Group)       0.0         -       0.0      (0.1)
                          --------  --------  --------  --------
Total short-term
financial assets            (54.3)    (61.7)    (64.9)   (213.1)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)   4,149.0   4,144.1   3,883.6   3,885.3
   broken down as:

   Intra-Group
   loans payable          1,266.2   1,266.2   1,005.5   1,005.5

   Other financial
   liabilities            2,882.8   2,877.9   2,878.2   2,879.9

Financial accrued expenses
and deferred income
(including intra-Group)       0.0         -       0.0         -
                          --------  --------  --------  --------
Total financial
liabilities               4,149.0   4,144.1   3,883.6   3,885.3
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)        4,094.7   4,082.4   3,818.7   3,672.3
                          ========  ========  ========  ========

Changes compared with Sept. 30, 2004, include an improvement in
the net financial position following the collection of
EUR160.0 million received under a settlement agreement with Nextra
Investment Management - Societa di gestione del risparmio S.p.A.
This amount was temporarily held by Parmalat SpA in Extraordinary
Administration, pending the allocation of the settlement among the
Group companies involved, in accordance with a formula that is
currently being defined.

The balance of intra-Group loans receivable also changed, due to
the granting of additional intra-Group loans to Latte Sole
S.p.A. (EUR1.8 million), Parmalat Finanziaria SpA in
Extraordinary Administration (EUR1.2 million) and sundry
transactions (EUR0.5 million).

Financial indebtedness owed to lenders outside the Group
increased by EUR1.7 million due to the restatement of certain
liability accounts.

                             Eurolat SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  09/30/04  10/31/04
                          --------  --------  --------  --------
Short-term
financial assets            (13.6)    (23.2)    (18.3)    (21.6)
   broken down as:

   Intra-Group
   loans receivable             -         -         -         -

   Financial assets not
   held as fixed assets         -         -         -         -

   Liquid assets            (13.6)    (23.2)    (18.3)    (21.6)

Financial accrued income
and prepaid expenses
(including intra-Group)         -         -      (0.1)        -
                          --------  --------  --------  --------
Total short-term
financial assets            (13.6)    (23.2)    (18.4)    (21.6)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)     191.9     189.3     190.1     188.2
   broken down as:

   Intra-Group
   loans payable             45.8      45.8      45.8      43.8

   Other financial
   liabilities              146.1     143.5     144.4     144.4

Financial accrued expenses
and deferred income
(including intra-Group)       1.5       0.7         -         -
                          --------  --------  --------  --------
Total financial
liabilities                 193.4     190.0     190.1     188.2
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)          179.7     166.8     171.7     166.6
                          ========  ========  ========  ========

The net financial position of Eurolat SpA improved due to an
increase in liquid assets and the netting out of certain intra-
Group balances.

                              Lactis SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  09/30/04  10/31/04
                          --------  --------  --------  --------
Short-term
financial assets             (0.4)     (3.7)     (3.6)     (3.8)
   broken down as:

   Intra-Group
   loans receivable             -         -         -         -

   Financial assets not
   held as fixed assets         -         -         -         -

   Liquid assets             (0.4)     (3.7)     (3.6)     (3.8)

Financial accrued income
and prepaid expenses
(including intra-Group)      (0.0)     (0.0)     (0.0)     (0.0)
                          --------  --------  --------  --------
Total short-term
financial assets             (0.4)     (3.7)     (3.6)     (3.9)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)      20.5      19.1      19.1      19.1
   broken down as:

   Intra-Group
   loans payable              8.6       8.6       8.6       8.6

   Other financial
   liabilities               11.9      10.5      10.5      10.5

Financial accrued expenses
and deferred income
(including intra-Group)       0.0         -         -         -
                          --------  --------  --------  --------
Total financial
liabilities                  20.5      19.1      19.1      19.1
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)           20.2      15.4      15.5      15.2
                          ========  ========  ========  ========

No change from a month earlier.

               Significant Events during October and November

   October 7         Filing by the Extraordinary Commissioner of
                     a complaint with the United States District
                     Court for the Western District of North
                     Carolina asking it to order Bank of America
                     and certain of its subsidiaries to pay
                     damages under various titles.  The
                     Commissioner believes that the defendant
                     companies actively engaged in actions that,
                     over an extended period of time, caused
                     damages to the Parmalat Group that are
                     estimated at the present time to be not less
                     than US$10 billion.

   October 14        Following approval by the Italian Ministry
                     of Production Activities, acting with the
                     input of the Oversight Committee of the
                     Extraordinary Administration proceedings,
                     acceptance of the settlement proposal put
                     forth on Oct.r 6, 2004, by Nextra
                     Investment Management - Societa di gestione
                     del risparmio Spa and collection of the
                     settlement amount.  This amount will be
                     allocated to the companies that are parties
                     to the settlement in accordance with the
                     instructions of the Oversight Committee and
                     with the approval of the Italian Ministry of
                     Production Activities.

   November 26       Publication of the statement of income and
                     balance sheet of Parmalat SpA in
                     Extraordinary Administration and Parmalat
                     Finanziaria SpA in Extraordinary
                     Administration and of the consolidated
                     financial statements of the Parmalat Group.
                     The Parmalat Group also published a Report
                     on Operations.  The Auditors' Report will be
                     published as soon as possible.

Headquartered in Wallington, New Jersey, Parmalat USA Corporation
-- http://www.parmalatusa.com/ -- generates more than 7 billion
euros in annual revenue.  The Parmalat Group's 40-some brand
product line includes milk, yogurt, cheese, butter, cakes and
cookies, breads, pizza, snack foods and vegetable sauces, soups
and juices and employs over 36,000 workers in 139 plants located
in 31 countries on six continents.  The Company filed for chapter
11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No.
04- 11139).  Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at
Weil Gotshal & Manges LLP represent the Debtors in their
restructuring efforts.  On June 30, 2003, the Debtors listed
EUR2,001,818,912 in assets and EUR1,061,786,417 in debts.
(Parmalat Bankruptcy News, Issue No. 39; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


PARMALAT: Finanziaria Reports November 2004 Financial Results
-------------------------------------------------------------
Parmalat Finanziaria SpA in Extraordinary Administration
communicates the operating and financial results of the Parmalat
Group at Nov. 30, 2004.

A number of the non-Italian operations of the Group classified as
non-core that at Dec. 31, 2003, were consolidated line by line
(for example: USA Dairy, Brazil, Chile and EVH) and certain
financial companies (for example, Parmalat Capital Finance) are
currently subject to certain restrictions on their management as a
result of local bankruptcy proceedings, with the result that these
operations are effectively outside the control of Parmalat
Finanziaria SpA in Extraordinary Administration.  For this reason,
the Group no longer consolidates these companies on a line-by-line
basis.

More specifically: Parmalat USA Corp., Farmland Dairies, and
Milk Products of Alabama, which constitute the USA Dairy Division
(these milk and dairy products operations have filed for Chapter
11 bankruptcy protection); two Brazilian companies (Parmalat
Brasil and Parmalat Participacoes), which have successfully filed
for composition with creditors under a local proceeding called
Concordata, which applies to their subsidiaries as well; the
Chilean operations, which have filed for composition with
creditors locally; EVH, a company incorporated in Canada that has
been granted creditor protection under the Companies' Creditors
Arrangement Act; and Parmalat Capital Finance, which has been
placed in liquidation by the local court.  This group of
companies also includes Eurofood IFSC, which is currently the
subject of a dispute with the Irish judicial authorities, who
allege that the Italian Extraordinary Administration proceedings
cannot be applied to this company.

Consequently, the pro forma data for the previous year have
been restated to reflect the new scope of the line-by-line
consolidation process.  The restated data are compared with those
of the current fiscal year.

                       Financial Highlights

                    Cumulative Through October
                         (in EUR millions)

                                           Revenues
                               --------------------------------
                               Previous  Previous year  Current
                               year      Pro-Forma      year
                               --------  -------------  -------
     Core Businesses            3,432.6        3,432.6  3,355.1
     Non Core Businesses        1,574.8          674.2    530.7
                               --------  -------------  -------
     Total                      5,007.4        4,106.8  3,885.8
                               ========  =============  =======

                                            EBITDA
                               --------------------------------
                               Previous  Previous year  Current
                               year      Pro-Forma      year
                               --------  -------------  -------
     Core Businesses              191.6          191.6    238.9
     Non Core Businesses          (64.6)         (37.1)    11.6
                               --------  -------------  -------
     Total                        127.0          154.4    250.5
                               ========  =============  =======

                                         % of Revenues
                               --------------------------------
                               Previous  Previous year  Current
                               year      Pro-Forma      year
                               --------  -------------  -------
     Core Businesses                5.6            5.6      7.1
     Non Core Businesses           (4.1)          (5.5)     2.2
                               --------  -------------  -------
     Total                          2.5            3.8      6.4
                               ========  =============  =======

      * The Core Businesses include the following product
        categories: beverages (milk and fruit juices) and
        functional dairy products, which are sold under
        approximately 30 brands (global and strong local brands)
        primarily in high-potential countries in which there is
        sustained demand for wellness products, consumers are
        willing to pay a premium price for Parmalat brands and
        there is access to leading-edge technologies.

     ** The Non-core Businesses are those that are located in
        countries or engaged in activities that are not
        strategically significant and have been earmarked for
        divestiture.

The consolidated data show that while revenues decreased by
5.4% (EUR3,885.8 million at Nov. 30, 2004, compared with
EUR4,106.8 million pro forma at Nov. 30, 2003), EBITDA grew
by 62.1%, rising to EUR250.5 million, compared with EUR154.5
million in the first eleven months of 2003.  This improvement was
made possible by the corporate restructuring and reorganization
effort carried out during the course of the year.

                         Core Businesses

The Group's Core Businesses had cumulative revenues of
EUR3,355.1 million at Nov. 30, 2004, down slightly (-2.3%)
from the EUR3,432.6 million booked in the same period last year.
EBITDA, however, increased to EUR238.9 million, or 24.7% more
than the EUR191.6 million earned in the first eleven months of
2003.

Successful marketing initiatives and efforts to curtail
operating costs and overhead, which more than offset the impact
of lower unit sales, are the reasons for the improved operating
performance.

The operating data are before extraordinary expenses related to
the extraordinary administration proceedings.  The accrued
portion attributable to the first eleven months of 2004 amounts
to about EUR71.0 million.

November revenues (difference between the cumulative revenues at
November 30 and October 31) totaled EUR307.5 million, about the
same as in the same period last year (EUR308.4 million).  At the
same time, EBITDA almost doubled, increasing to EUR24.5 million
(EUR12.6 million in November 2003).

An analysis of the Group's results in the main geographic
regions in which it operates is provided:

     -- Italy

        In the first eleven months of 2004, revenues decreased to
        EUR1,250.8 million, or 8.4% less than the EUR1,365.8
        million reported at November 30, 2003.

        As was the case in the previous months, the revenue
        shortfall was accompanied by an increase in EBITDA, which
        grew to EUR76.9 million, or 11.1% more than the EUR69.2
        million booked in 2003.  The ratio of EBITDA to net
        revenues also improved, rising from 5.1% in 2003 to 6.1%
        this year.

        In November, revenues and EBITDA increased compared with
        the previous month, rising to EUR110.0 million and EUR6.7
        million (6.1% of revenues), respectively. Gains by the
        Milk and Fresh Dairy Products Divisions were the main
        reasons for this improvement.  The Milk Division
        responded to a decrease in unit sales of pasteurized milk
        by improving its sales mix and increasing sales of
        functional milks.  Demand for these products was
        bolstered by recent advertising campaigns for Zymil,
        which has become the fourth brand in its segment of the
        domestic market.  Yogurt sales benefited from the Kyr
        advertising campaign.  Other recent promotional and
        advertising campaigns (Eurolat products) should generate
        additional sales momentum in the coming months.

     -- Spain

        Revenues for the first eleven months of 2004 totaled
        EUR206.3 million, or 2.3% less than the EUR211.1 million
        reported a year earlier.  EBITDA showed an even greater
        decrease, falling both in absolute terms (down 29.4%,
        from EUR19.4 million to EUR13.7 million) and as a
        percentage of revenues (from 9.2% to 6.6%).

        At EUR16.8 million and EUR0.9 million (5.4% of revenues),
        respectively, November revenues and EBITDA were in line
        with the results posted in recent months.  The main
        reason for the decline in EBITDA compared with the data
        at November 30, 2003, is a rise in costs (cost of milk
        and packaging plastics), which could not be fully passed
        on to consumers.  The less favorable weather that
        characterized the summer of 2004 compared with 2003 was
        also a factor, depressing sales of seasonal products (ice
        creams and almond-flavored beverages).

        In addition, the performance of the Spanish operations
        was affected by problems in specific market segments: in
        the yogurt (bioliquids in particular) and dessert areas,
        sales were affected by aggressive promotions from
        competitors with a global reach, and increasingly intense
        television advertising by Parmalat's competitors had an
        impact on the flavored milk segment.

     -- South Africa

        Revenues for the first eleven months of 2004 grew to
        EUR226.3 million, up 27.8% compared with the EUR177.0
        million reported in the same period a year ago.  EBITDA
        enjoyed the same positive trend, rising to EUR19.8
        million, compared with ?16.7 million in 2003.

        However, the ratio of EBITDA to revenues decreased from
        9.4% to 8.7%.  In November, the South African operations
        booked revenues of EUR24.5 million and earned EBITDA of
        EUR2.6 million (10.6% of revenues).

        The improvement in cumulative revenues and EBITDA was
        made possible in part by the appreciation of the South
        African rand versus the euro (average exchange rate up
        6.2% compared with 2003).

        Another factor that accounted for the revenue gain
        achieved in 2004 was a sharp rise in unit sales (19.2%).
        While most of this increase came from sales of less
        profitable products (such as bulk cheese), the higher
        volumes shipped provided better coverage for fixed
        production costs and helped reduce the existing excess
        of raw material inventory.

        Product categories that provided the greatest
        contribution to the increase in EBITDA were high-end
        cheeses (the recent Simonsberg and Melrose acquisitions
        were a factor), UHT milk, desserts and yogurt.  Yogurt
        shipments were particularly strong.

        Negative factors that affected South Africa operations
        included higher transportation and distribution costs and
        the inability to raise the retail prices of dairy
        products.

     -- Venezuela

        In November, the average exchange rate of the Bolivar
        versus the euro fell by 27.2% compared with the average
        rate for November 2003, marking a further deterioration
        from the month of October, when the year-over-year
        decrease was 26.3%.

        Revenues for the first eleven months of 2004 decreased by
        28.1% to EUR134.0 million (EUR186.5 million in 2003).

        The contraction in revenues had a negative impact on
        EBITDA, which fell both in absolute terms (EUR5.6
        million, or 74.1% less than the EUR21.6 million reported
        at November 30, 2003) and as a percentage of revenues
        (down from 11.6% to 4.2%).

        For the month of November 2004, revenues totaled EUR21.4
        million and EBITDA amounted to EUR1.4 million (6.5% of
        revenues).  However, while the impact of the two main
        factors that account for the sharp deterioration in the
        operating performance of the Venezuelan operations (the
        difficulties experienced by the Venezuelan economy, which
        resulted in a halt in the importation of numerous raw
        materials, and the decision by the Venezuelan Government
        to regulate the markets for "basic" powdered milk) was
        significant, the domestic economy is beginning to revive,
        with a beneficial impact on unit sales and profit
        margins.

        In addition, the business reorganization and refocusing
        process launched in October is starting to pay off,
        despite increases in the prices paid for raw materials
        (especially milk) and packaging plastics during the
        second half of 2004.

     -- Canada

        Cumulative revenues at Nov. 30, 2004, totaled
        EUR1,065.8 million, about the same as in the
        corresponding period a year ago (EUR1,059.0 million).
        While revenues held relatively steady, EBITDA were up a
        strong 27.0% in absolute terms (EUR74.8 million, compared
        with EUR58.9 million for the eleven months ended
        November 30, 2003) and improved as a percentage of
        revenues (from 5.6% to 7.0%).

        In November 2004, revenues totaled EUR101.6 million and
        EBITDA amounted to EUR8.7 million (8.6% of revenues).

        The excellent results achieved by the Canadian operations
        despite the weakness of the Canadian dollar versus the
        euro (down 2.3% in November) were made possible mainly by
        strong sales of cheese and basic ingredients.  Sales of
        fruit juices were also up.  The early implementation of
        some of the initiatives outlined in the Industrial Plan
        provided a further boost to the bottom line.  These
        initiatives include: renegotiation of contracts with
        certain suppliers; expansion of the contract with
        Canada's largest retail chain; reduction of promotional
        and advertising expenses, distribution costs and
        overhead; reorganization of the manufacturing processes;
        and a streamlining of the product portfolio.

     -- Australia

        Revenues for the first eleven months of 2004 totaled
        EUR348.7 million, about the same as the EUR340.5 million
        booked in the same period last year.  This was also true
        for EBITDA, which were little changed both in absolute
        terms (EUR30.0 million, compared with EUR29.3 million in
        the eleven months ended Nov. 30, 2003) and as a
        percentage of net revenues.  A factor that should also be
        taken into account when comparing data is the modest
        appreciation of the Australian dollar versus the euro
        (+3.5% compared with the average rate through November
        2003).

        In November 2004, net revenues totaled EUR31.6 million
        and EBITDA amounted to EUR3.0 million (9.5% of
        revenues).

        Factors that contributed to these improved results, in
        addition to the impact of foreign exchange translation
        rates, include: the containment of overhead and of
        promotional and transportation expenses, a more effective
        raw materials procurement policy, the streamlining of
        production facilities, and higher unit sales of milk
        (especially pasteurized milk) and yogurt.  In addition,
        the Group's Australian companies signed new supply
        contracts with large national retail chains.

                       Non-core Businesses

The Group's Noncore Businesses reported revenues of
EUR530.7 million, or 21.3% less than the EUR674.2 million booked
in the first eleven months of 2003.

As was the case in previous months, EBITDA for the first
eleven months were positive, totaling EUR11.6 million (negative
EBITDA of EUR37.1 million for the eleven months ended
November 30, 2003), due mainly to a change in the treatment of
certain items attributed to Parma F.C. that related to the sale
of some of the team's players.

In November 2004, revenues totaled EUR46.2 million, down
from November 2003, and EBITDA amounted to EUR2.9 million.

The main reasons for the year-over-year improvement in
cumulative EBITDA are the restatement referred to above and
programs implemented by certain Italian businesses and the U.S.
baked goods operations (USA Bakery).

                              Italy

The operations of Parmalat SpA that have been designated as
Non-core Businesses had revenues of EUR73.4 million in the eleven
months ended November 30, 2004, down sharply (-34.2%) from the
EUR111.6 million booked in the same period last year.  Despite
this decrease in net revenues, EBITDA showed a substantial
increase, rising by 75.9%, with the loss shrinking both in
absolute terms (from negative EUR14.5 million to negative EUR3.5
million) and in relative terms (from -13.0% to -4.8% of
revenues).  The decision to discontinue the water business and
drastic cuts in promotions and advertising for baked goods and
fruit juices are the main reasons for the improved results.

                            USA Bakery

In November, the exchange rate of the U.S. dollar versus the
euro continued to deteriorate (-10% compared with the reference
data at November 2003).  This development had a negative impact
on cumulative revenues, which decreased to EUR263.5 million, or
16.0% less than in the first eleven months of 2003, when they
totaled EUR313.8 million.  Nevertheless, EBITDA, while still
negative, improved by 37.2%, rising both in absolute terms
(from negative EUR11.3 million to negative EUR7.1 million) and in
relative terms (from -3.6% to -2.7% of revenues).

This improvement was achieved by implementing programs
designed to target promotional investments more effectively,
reorganize the manufacturing operations and cut overhead.  These
programs succeeded in offsetting the negative impact of lower
unit sales and higher raw materials prices.

                        NET FINANCIAL POSITION

                    Highlights (in EUR millions)

                          Balance
               Balance      as at    Balance   Balance   Balance
                 as at   12/31/03      as at     as at     as at
              12/31/03  Pro-Forma   06/30/04  10/31/04  11/30/04
              --------  ---------   --------  --------  --------
Short term
financial
assets         (121.4)    (104.7)    (130.5)   (348.3)   (356.8)

broken down as:

   Financial
   assets not
   held as
   fixed
   assets       (20.9)     (20.9)      (5.4)     (0.9)     (0.4)

   Liquid
   assets      (100.5)     (83.8)    (125.1)   (347.4)   (356.4)

Financial
accrued
income and
prepaid
expenses (incl.
intra-Group)    (61.9)     (57.2)     (55.0)    (27.3)    (25.0)
             --------  ---------   --------  --------  --------
Total
short-term
financial
assets         (183.3)    (161.9)    (185.5)   (375.6)   (381.9)
             ========  =========   ========  ========  ========

Financial
debts        13,457.5   11,402.6   11,408.0  11,498.6  11,480.8

Financial
accrued
expenses &
deferred
income (incl.
intra-Group)    256.2      200.8      246.6     232.0     231.2
             --------  ---------   --------  --------  --------
Total
financial
liabilities  13,713.7   11,603.4   11,654.6  11,730.6  11,712.0

Indebtedness
owed to
lenders
outside
the Group/
(Financial
assets) of
companies
consolidated
line-by-
line         13,530.4   11,441.5   11,469.1  11,355.0  11,330.2

Indebtedness
owed by
companies
consolidated
line-by-line
to companies
that are
parties to
local
composition
-with-creditors
proceedings        -      745.8       745.5     745.8     745.8

Indebtedness/
(Financial
assets)
of companies
consolidated
line-by-
line         13,530.4  12,187.3    12,214.9  12,100.8  12,076.0

Indebtedness/
(Financial
assets) of
companies not
consolidated
line-by-line     49.4       4.3         4.3       4.5       4.3
             --------  ---------   --------  --------  --------
Total
indebtedness/
(financial
assets)      13,579.8  12,191.6    12,219.2  12,105.1  12,080.3
             ========  =========   ========  ========  ========

The Group's net financial position at Nov. 30, 2004, shows an
improvement of EUR24.8 million.

The combined indebtedness owed to lenders outside the Group
by subsidiaries that are parties to local composition-with-
creditors proceedings and, consequently, have been deconsolidated
is not reflected in the net financial position.  At June 30,
2004, these borrowings totaled EUR2,437.3 million.  Because some
of these borrowings are secured by guarantees provided Parmalat
SpA and Parmalat Finanziaria SpA in the amount of EUR1,753.4
million, a reserve for risks of an amount equal to the guaranteed
indebtedness (EUR1,675.2 million) was recognized in the
consolidated financial statements at June 30, 2004.  The
consolidated financial statements at June 30, 2004, also show
that indebtedness owed by the Group to companies in special
proceedings who are not consolidated line by line amounted to
EUR745.8 million.

As of today, no amount has been drawn from the EUR105.8 million
line of credit provided to Parmalat SpA by a pool of banks on
Mar. 4, 2004.

A breakdown of the net indebtedness owed to lenders outside
the Group by companies consolidated line by line:

                         (in EUR millions)

                        Balance
                        as at      Balance   Balance   Balance
                        12/31/03   as at     as at     as at
                        Pro-Forma  06/30/04  10/31/04  11/30/04
                        ---------  --------  --------  --------
Companies in EA
   subject to proposed
   composition with
   creditors             10,055.3  10,084.0   9,924.0   9,911.0

Other companies in EA        56.9      42.8      65.5      67.3

Other companies           1,329.3   1,342.3   1,365.5   1,351.9
                        ---------  --------  --------  --------
Total indebtedness/
(financial assets)       11,441.5  11,469.1  11,355.0  11,330.2
                        =========  ========  ========  ========

           Companies Under Extraordinary Administration

The net indebtedness incurred by companies under extraordinary
administration toward lenders outside the Group prior to their
becoming eligible for extraordinary administration is all short-
term, since all of these companies are in default of the covenants
of the respective loan agreements.

A noteworthy development is the increase in liquid assets
held by the companies included in the Proposal of Composition
with Creditors.  Such assets rose from EUR24.0 million at
Dec. 31, 2003, to EUR248.5 million at Nov. 30, 2004.  The
main reason for this improvement is the inflow of EUR160.0
million received under a settlement agreement with Nextra
Investment Management - Societa di gestione del risparmio S.p.A.

                         Other Companies

The remaining operating and financial companies consolidated
line by line that are not included in the extraordinary
administration proceedings had net indebtedness toward lenders
outside the Group of EUR1,351.9 million as at Nov. 30,2004.
This amount, which was lower than a month earlier but higher than
the EUR1,329.3 million owed at Dec. 31, 2003, includes
EUR713.4 million in long-term debt.

Some Group companies are currently renegotiating their
indebtedness in order to restructure it.

      Principal Companies Under Extraordinary Administration

Financial highlights of the principal Italian companies under
extraordinary administration:

                      Parmalat Finanziaria SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  10/31/04  11/30/04
                          --------  --------  --------  --------
Short-term
   financial assets        (140.8)   (140.0)    (18.35    (18.1)
   broken down as:

   Intra-Group loans
   receivable              (138.8)   (138.8)    (17.1)    (17.1)

   Financial assets
   not held as
   fixed assets              (2.0)     (0.0)        -         -

   Liquid assets             (0.0)     (1.1)     (1.4)     (1.0)

Financial accrued income
and prepaid expenses
(including intra-Group)      (0.6)        -      (0.1)     (0.1)
                          --------  --------  --------  --------
Total short-term
financial assets           (141.4)   (140.0)    (18.6)    (18.2)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)   1,269.9   1,272.9   1,278.4   1,278.9
   broken down as:

   Intra-Group
   loans payable          1,007.8   1,010.9   1,016.4   1,016.9

   Other financial
   liabilities              262.1     262.0     262.0     262.0

Financial accrued expenses
and deferred income
(including intra-Group)       4.8       4.7       4.6       4.7
                          --------  --------  --------  --------
Total financial
liabilities               1,274.7   1,277.6   1,283.1   1,283.6
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)        1,133.3   1,137.6   1,264.5   1,265.3
                          ========  ========  ========  ========

In November, intra-Group indebtedness increased by EUR0.5
million.  The balance includes a loan received from Parmalat SpA
in Extraordinary Administration.

                             Parmalat SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  10/31/04  11/30/04
                          --------  --------  --------  --------
Short-term
   financial assets         (54.3)    (61.7)   (212.9)   (216.7)
   broken down as:

   Intra-Group
   loans receivable         (28.0)    (38.6)    (37.4)    (38.2)

   Financial assets not
   held as fixed assets     (19.7)        -         -         -

   Liquid assets             (6.6)    (23.2)   (175.5)   (178.5)

Financial accrued income
and prepaid expenses
(including intra-Group)       0.0         -      (0.1)     (0.1)
                          --------  --------  --------  --------
Total short-term
financial assets            (54.3)    (61.7)   (213.1)   (216.8)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)   4,149.0   4,144.1   3,885.3   3,887.2
   broken down as:

   Intra-Group
   loans payable          1,266.2   1,266.2   1,005.5   1,007.3

   Other financial
   liabilities            2,882.8   2,877.9   2,879.9   2,879.9

Financial accrued expenses
and deferred income
(including intra-Group)       0.0         -         -         -
                          --------  --------  --------  --------
Total financial
liabilities               4,149.0   4,144.1   3,885.3   3,887.2
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)        4,094.7   4,082.4   3,672.3   3,670.4
                          ========  ========  ========  ========

As of Nov. 30, 2004, the Group had collected EUR160.0 million
under a settlement agreement with Nextra Investment Management -
Societa di gestione del risparmio S.p.A.  This amount is being
temporarily held by Parmalat SpA in Extraordinary Administration,
pending its allocation among the Group companies that are parties
to the settlement, in accordance with a formula that is currently
being defined.

The balance of intra-Group loans receivable also changed, due to
the granting of additional intra-Group loans to Parmalat
Finanziaria Spa in Extraordinary Administration (EUR0.5 million)
and sundry transactions (EUR0.3 million).

Indebtedness owed to lenders outside the Group increased due
to the impact of changes in exchange rates following a review of
verified claims and other adjustments.

                             Eurolat SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  10/31/04  11/30/04
                          --------  --------  --------  --------
Short-term
financial assets            (13.6)    (23.2)    (21.6)    (22.8)
   broken down as:

   Intra-Group
   loans receivable             -         -         -         -

   Financial assets not
   held as fixed assets         -         -         -         -

   Liquid assets            (13.6)    (23.2)    (21.6)    (22.8)

Financial accrued income
and prepaid expenses
(including intra-Group)         -         -         -      (0.1)
                          --------  --------  --------  --------
Total short-term
financial assets            (13.6)    (23.2)    (21.6)    (22.9)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)     191.9     189.3     188.2     188.2
   broken down as:

   Intra-Group
   loans payable             45.8      45.8      43.8      43.8

   Other financial
   liabilities              146.1     143.5     144.4     144.4

Financial accrued expenses
and deferred income
(including intra-Group)       1.5       0.7         -         -
                          --------  --------  --------  --------
Total financial
liabilities                 193.4     190.0     188.2     188.2
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)          179.7     166.8     166.6     165.3
                          ========  ========  ========  ========

The net financial position of Eurolat SpA improved due to an
increase in liquid assets.

                              Lactis SpA
                   (Amounts in millions of Euros)

                          Balance   Balance   Balance   Balance
                          as at     as at     as at     as at
                          12/31/03  06/30/04  10/31/04  11/30/04
                          --------  --------  --------  --------
Short-term
financial assets             (0.4)     (3.7)     (3.8)     (4.4)
   broken down as:

   Intra-Group
   loans receivable             -         -         -         -

   Financial assets not
   held as fixed assets         -         -         -         -

   Liquid assets             (0.4)     (3.7)     (3.8)     (4.4)

Financial accrued income
and prepaid expenses
(including intra-Group)      (0.0)     (0.0)     (0.0)     (0.0)
                          --------  --------  --------  --------
Total short-term
financial assets             (0.4)     (3.7)     (3.9)     (4.4)
                          ========  ========  ========  ========

Financial liabilities
(including intra-Group)      20.5      19.1      19.1      19.1
   broken down as:

   Intra-Group
   loans payable              8.6       8.6       8.6       8.6

   Other financial
   liabilities               11.9      10.5      10.5      10.5

Financial accrued expenses
and deferred income
(including intra-Group)       0.0         -       0.0       0.0
                          --------  --------  --------  --------
Total financial
liabilities                  20.5      19.1      19.1      19.1
                          --------  --------  --------  --------
Total indebtedness/
(financial assets)           20.2      15.4      15.2      14.7
                          ========  ========  ========  ========

The net financial position of Lactis SpA improved due to an
increase in liquid assets.

               Significant Events during November and December

   November 26       Publication of the statement of income and
                     balance sheet of Parmalat SpA in
                     Extraordinary Administration and Parmalat
                     Finanziaria SpA in Extraordinary
                     Administration and of the consolidated
                     financial statements of the Parmalat Group.
                     The Parmalat Group also published a Report
                     on Operations.

   December 3        Publication of the Independent Auditors'
                     Report, in Paragraph 5 of which
                     PricewaterhouseCoopers S.p.A. states:
                     "According to our opinion the consolidated
                     financial statements at June 30 2004, with
                     the exclusion of the possible effects
                     connected with the qualifications under
                     paragraph 4, are compliant with the
                     applicable rules and therefore are drawn up
                     with clarity and represent faithfully and
                     properly the consolidated financial
                     statements and operational result at
                     June 30, 2004 of Parmalat Finanziaria S.p.A.
                     in Extraordinary Administration."

   December 16       Notice given by the Extraordinary
                     Commissioner of the filing of an action to
                     void pursuant to Article 67 of the Italian
                     Bankruptcy Law against 45 credit
                     institutions.  Additional actions are being
                     prepared.  The purpose of these actions is
                     to render null and void payments made during
                     the year before the date when the plaintiffs
                     were declared insolvent, when permitted
                     under the Italian Bankruptcy Law.

   December 16       Filing with the Office of the Clerk of the
                     Bankruptcy Court of Parma of the enforceable
                     lists of creditors with verified,
                     conditional and contested claims against the
                     companies included in the Proposal of
                     Composition with Creditors.  The
                     abovementioned lists can be viewed at the
                     Office of the Clerk of the Court of Parma or
                     by accessing the Web site
                     http://web.ltt.it/tribunale/home.htm
                     starting on Dec. 23, 2004.

   December 20       By a decree of the Minister of Production
                     Activities on Dec. 2, 2004, Emmegi Agro
                     Industriale S.r.l. was declared eligible for
                     Extraordinary Administration  Proceedings
                     and Enrico Bondi was appointed Extraordinary
                     Commissioner of the company.  On
                     Nov. 11, 2004, Emmegi Agro Industriale
                     S.r.l. filed an application for insolvency
                     status with the Civil Court of Parma which
                     accepted the request on Dec. 17, 2004,
                     declaring the company to be insolvent.

   December 20       By a decree of the Minister of Production
                     Activities on Dec. 2, 2004, Parmalat
                     Malta Holding Limited and Parmalat Trading
                     Limited were declared eligible for
                     Extraordinary Administration Proceedings and
                     Enrico Bondi was appointed Extraordinary
                     Commissioner of these companies.  On
                     Nov. 19, 2004, Parmalat Malta Holding
                     Limited and Parmalat Trading Limited filed
                     an application for insolvency status with
                     the Civil Court of Parma which accepted the
                     request on Dec. 17, 2004, declaring the
                     company to be insolvent.

   December 22       Sale by Parmalat SpA in Extraordinary
                     Administration of a 99.99% interest in the
                     capital stock of Parmalat Argentina SA to
                     Molinos y Establecimientos Harineros Bruning
                     SA and Industrias Argentinas Man (companies
                     controlled by Sergio Tasselli, an
                     Argentinian entrepreneur).  The parties also
                     signed a five-year licensing agreement that
                     covers the use of trademarks owned by
                     Parmalat.  This transaction, which was
                     authorized by the Ministry of Production
                     Activities, in consultation with the
                     Oversight Committee, will provide Parmalat
                     SpA in Extraordinary Administration with a
                     stream of future revenues.

Headquartered in Wallington, New Jersey, Parmalat USA Corporation
-- http://www.parmalatusa.com/ -- generates more than 7 billion
euros in annual revenue.  The Parmalat Group's 40-some brand
product line includes milk, yogurt, cheese, butter, cakes and
cookies, breads, pizza, snack foods and vegetable sauces, soups
and juices and employs over 36,000 workers in 139 plants located
in 31 countries on six continents.  The Company filed for chapter
11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No.
04- 11139).  Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at
Weil Gotshal & Manges LLP represent the Debtors in their
restructuring efforts.  On June 30, 2003, the Debtors listed
EUR2,001,818,912 in assets and EUR1,061,786,417 in debts.
(Parmalat Bankruptcy News, Issue No. 39; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


PARMALAT: Milk Products' November 2004 Monthly Operating Report
---------------------------------------------------------------

                    Milk Products of Alabama, LLC
                            Balance Sheet
                      As of November 20, 2004

Assets

Cash & Cash Equivalents                             $10,982,076
Accounts Receivable-Net                                 227,162
Inventory                                                     0
Prepaid Expenses                                              0
Other Current Assets                                     12,088
                                                 --------------
Total Current Assets                                 11,221,326

Fixed Assets                                                  0
Accumulated Depreciation                                      0
                                                 --------------
Net Fixed Assets                                              0

Other Assets                                                  0
Intercompany Receivables                                      0
                                                 --------------
Total Assets                                        $11,221,326
                                                 ==============

Liabilities Subject to Compromise
   Accrued Expenses                                     $25,227
   Intercompany payables                              8,338,493
                                                 --------------
Total Liabilities Subject to Compromise               8,363,720

Liabilities
   Accounts Payable                                           0
   Accrued Expenses                                      63,298
                                                 --------------
Total Current Liabilities                                63,298

Long Term Notes Payable -- Intercompany                       -
Other                                                 2,819,884
                                                 --------------
Total Long Term Liabilities                           2,819,884

Intercompany Payables                                (9,509,536)
                                                 --------------
Total Liabilities                                     1,737,366

Equity
Retained Earnings                                        18,414
YTD Net Income/(Loss)                                 9,465,546
                                                 --------------
Total Equity                                          9,483,960
                                                 --------------
Total Liabilities & Owners' Equity                  $11,221,326
                                                 ==============


                    Milk Products of Alabama, LLC
                          Income Statement
             From October 24, 2004, to November 20, 2004


Revenues
   Gross sales                                               $0
   Less: Returns & discounts                                  0
                                                 --------------
   Net sales                                                  0

Expenses
   Raw Materials & Ingredients                                0
   Packaging                                                  0
   Direct Labor                                               0
   Power                                                      0
   Freight                                                    0
   Industrial Depreciation                                    0
   Production Overhead                                      497
   Warehouse (Cooler)                                         0
   Marketing Costs                                            0
   Sales Admin Expenses                                      78
   General Expenses                                         154
   Financial Costs                                        5,788
   Other (Income) Expense                                     0
   Extraordinary                                              0
   Corporate Allocation                                       0
   Income Taxes                                               0
                                                 --------------
   Total Expenses                                         6,517

Reorganization Expenses
   Professional Fees                                    452,427
   U.S. Trustee Fees                                          -
   Other                                                      -
                                                 --------------
   Total Reorganization Expenses                        452,427
                                                 --------------
Net Profit (Loss)                                     ($458,944)
                                                 ==============


                    Milk Products of Alabama, LLC
                   Cash Receipts and Disbursements
             From October 24, 2004, to November 20, 2004


Cash - Beginning of Month                            $7,631,730

Receipts From Operations
   Cash Sales                                                 -

Collection of Accounts Receivable
   Prepetition                                                0
   Postpetition                                       1,873,327
                                                 --------------
   Total Operating Receipts                           1,873,327

Non - Operating Receipts
   Transfers                                                  0
   Other                                              2,178,127
                                                 --------------
   Total Non-Operating Receipts                       2,178,127
                                                 --------------
   Total Receipts                                     4,051,454
                                                 --------------
Total Cash Available                                 11,683,184

Operating Disbursements
   Purchased Products                                    91,230
   Consulting Fees                                       28,003
   Ingredients                                           37,116
   Licenses & Taxes                                      35,011
   Packaging                                             91,812
   Raw Milk                                                   -
   R & M, Parts, Supplies                                34,008
   Other                                                 21,974
   Utilities                                             35,955
   Marketing Costs                                        1,268
   Securitization Payment                                 7,482
   Sales Admin Expenses                                       -
   General Expenses                                           -
   Title Fees                                                 -
   Employee-related                                       9,831
   Freight/Transportation                                38,043
   Corporate Allocation                                       -
   Income Taxes                                               -
                                                 --------------
   Total expenses                                       431,733

Reorganization Expenses
   Professional Fees                                    255,165
   U.S. Trustee Fees                                     10,000
   DIP Interest & Fees                                    4,211
                                                 --------------
   Total Reorganization Expenses                        269,376
                                                 --------------
Total Disbursements                                     701,109
                                                 --------------
Net Cash Flow                                         3,350,345
                                                 --------------
Cash - End of Month                                 $10,982,076
                                                 ==============

Headquartered in Wallington, New Jersey, Parmalat USA Corporation
-- http://www.parmalatusa.com/ -- generates more than 7 billion
euros in annual revenue.  The Parmalat Group's 40-some brand
product line includes milk, yogurt, cheese, butter, cakes and
cookies, breads, pizza, snack foods and vegetable sauces, soups
and juices and employs over 36,000 workers in 139 plants located
in 31 countries on six continents.  The Company filed for chapter
11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No.
04- 11139).  Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at
Weil Gotshal & Manges LLP represent the Debtors in their
restructuring efforts.  On June 30, 2003, the Debtors listed
EUR2,001,818,912 in assets and EUR1,061,786,417 in debts.
(Parmalat Bankruptcy News, Issue No. 39; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


PARMALAT: Releases Monthly Operating Report Ended Nov. 20, 2004
---------------------------------------------------------------

                      Parmalat USA Corporation
                            Balance Sheet
                       As of November 20, 2004


Assets

Cash & Cash Equivalents                                      $0
Accounts Receivable-Net                                       0
Notes Receivable -Current                                     0
Inventory                                                     0
Prepaid Expenses                                              0
Other Current Assets                                          0
                                                 --------------
Total Current Assets                                          0

Fixed Assets                                                  0
Accumulated Depreciation                                      0
                                                 --------------
Net Fixed Assets                                              0

Other Assets                                        326,234,888
Intercompany Receivables                             24,965,537
                                                 --------------
Total Assets                                       $351,200,425
                                                 ==============

Liabilities Subject to Compromise
   Long Term Debt & Interest                        $19,836,909
   Intercompany payables                            212,783,632
                                                 --------------
Total Liabilities Subject to Compromise             232,620,541

Liabilities
   Accounts Payable                                           0
   Notes & Loans Payable                                      0
   Accrued Expenses                                     977,510
   Intercompany Payables                                      0
                                                 --------------
Total Liabilities                                   233,598,051

Equity
Common Stock                                          1,388,356
Paid In Capital                                     227,962,103
Retained Earnings                                  (110,643,290)
YTD Net Income/(Loss)                                (1,104,797)
                                                 --------------
Total Equity                                        117,602,372
                                                 --------------
Total Liabilities & Owners' Equity                 $351,200,423
                                                 ==============


                      Parmalat USA Corporation
                          Income Statement
             From October 24, 2004, to November 20, 2004


Revenues
   Gross sales                                                -
   Less: Returns & discounts                                  -
                                                 --------------
   Net sales                                                 $0

Expenses
   Raw Materials & Ingredients                                -
   Packaging                                                  -
   Direct Labor                                               -
   Power                                                      -
   Freight                                                    -
   Distribution                                               -
   Industrial Depreciation                                    -
   Production Overhead                                        -
   Warehouse (Cooler)                                         -
   Marketing Costs                                            -
   Sales Admin Expenses                                       -
   General Expenses                                           -
   Financial Costs                                      100,800
   Goodwill/trademarks                                   18,226
   Extraordinary                                              -
   Corporate Allocation                                       -
   Depreciation                                               -
   Amortization                                               -
   Income Taxes                                               -
                                                 --------------
   Total Expenses                                       119,026

Reorganization Expenses
   Professional Fees                                          -
   U.S. Trustee Fees                                          -
   Other                                                      -
                                                 --------------
   Total Reorganization Expenses                              0
                                                 --------------
Net Profit (Loss)                                     ($119,026)
                                                 ==============

Parmalat USA Corporation received no cash nor made disbursements
from October 24, 2004, to November 20, 2004.

Headquartered in Wallington, New Jersey, Parmalat USA Corporation
-- http://www.parmalatusa.com/-- generates more than 7 billion
euros in annual revenue.  The Parmalat Group's 40-some brand
product line includes milk, yogurt, cheese, butter, cakes and
cookies, breads, pizza, snack foods and vegetable sauces, soups
and juices and employs over 36,000 workers in 139 plants located
in 31 countries on six continents.  The Company filed for chapter
11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No.
04- 11139).  Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at
Weil Gotshal & Manges LLP represent the Debtors in their
restructuring efforts.  On June 30, 2003, the Debtors listed
EUR2,001,818,912 in assets and EUR1,061,786,417 in debts.
(Parmalat Bankruptcy News, Issue No. 39; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


SOLUTIA INC: Posts $14 Million Net Loss for October 2004
--------------------------------------------------------

                      Solutia Chapter 11 Debtors
        Unaudited Statement of Consolidated Financial Position
                       As of October 31, 2004

                               ASSETS

Current Assets:
    Cash                                            $48,000,000
    Trade Receivables, net                          154,000,000
    Account Receivables-Unconsolidated subsidiaries  52,000,000
    Inventories                                     163,000,000
    Other Current Assets                             96,000,000
                                                  -------------
Total Current Assets                                513,000,000

Property, Plant and Equipment, net                  703,000,000
Investments in Affiliates                           493,000,000
Intangible Assets, net                              102,000,000
Other Assets                                        121,000,000
                                                  -------------
TOTAL ASSETS                                     $1,932,000,000
                                                  =============


                LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities
    Accounts Payable                               $148,000,000
    Other Current Liabilities                       170,000,000
                                                  -------------
Total Current Liabilities                           318,000,000

Long-Term Debt                                      300,000,000
Other Long-Term Liabilities                         231,000,000
                                                  -------------
Total Liabilities Not Subject to Compromise         849,000,000
Liabilities Subject to Compromise                 2,278,000,000
Shareholders' Deficit                            (1,195,000,000)
                                                  -------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT        $1,932,000,000
                                                  =============


                      Solutia Chapter 11 Debtors
           Unaudited Consolidated Statement of Operations
                For the Month Ended October 31, 2004

Total Net Sales                                    $174,000,000
Total Cost Of Goods Sold                            170,000,000
                                                  -------------
Gross Profit                                          4,000,000
Total MAT Expense                                    18,000,000
                                                  -------------
Operating Income                                    (14,000,000)

Equity Loss from Affiliates                           4,000,000
Interest Expense, net                                (4,000,000)
Other Income, net                                     3,000,000
Reorganization Items:
    Professional fees                                (3,000,000)
    Employee severance and retention costs                    -
                                                  -------------
    Total Reorganization Items                       (3,000,000)
                                                  -------------
Loss Before Taxes                                   (14,000,000)
Income Taxes                                                  -
                                                  -------------
NET LOSS                                           ($14,000,000)
                                                  =============

Headquartered in St. Louis, Missouri, Solutia, Inc. --
http://www.solutia.com/-- with its subsidiaries, make and sell
a variety of high-performance chemical-based materials used in a
broad range of consumer and industrial applications.  The Company
filed for chapter 11 protection on December 17, 2003 (Bankr.
S.D.N.Y. Case No. 03-17949).  When the Debtors filed for
protection from their creditors, they listed $2,854,000,000 in
assets and $3,223,000,000 in debts.  (Solutia Bankruptcy News,
Issue No. 29; Bankruptcy Creditors' Service, Inc., 215/945-7000)


SOLUTIA INC: Posts $18 Million Net Loss for November 2004
---------------------------------------------------------

                      Solutia Chapter 11 Debtors
        Unaudited Statement of Consolidated Financial Position
                       As of November 30, 2004

                               ASSETS


Current Assets:
    Cash                                            $60,000,000
    Trade Receivables, net                          156,000,000
    Account Receivables-Unconsolidated subsidiaries  54,000,000
    Inventories                                     152,000,000
    Other Current Assets                             84,000,000
                                                  -------------
Total Current Assets                                506,000,000
Property, Plant and Equipment, net                  699,000,000
Investments in Affiliates                           496,000,000
Intangible Assets, net                              102,000,000
Other Assets                                        120,000,000
                                                  -------------
TOTAL ASSETS                                     $1,923,000,000
                                                 ==============

                LIABILITIES AND SHAREHOLDERS' DEFICIT

Current Liabilities
    Accounts Payable                               $153,000,000
    Other Current Liabilities                       175,000,000
                                                 --------------
Total Current Liabilities                           328,000,000
Long-Term Debt                                      300,000,000
Other Long-Term Liabilities                         235,000,000
                                                 --------------
Total Liabilities Not Subject to Compromise         863,000,000
Liabilities Subject to Compromise                 2,277,000,000
Shareholders' Deficit                            (1,217,000,000)
                                                 --------------
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT        $1,923,000,000
                                                 ==============

                      Solutia Chapter 11 Debtors
           Unaudited Consolidated Statement of Operations
                For the Month Ended November 30, 2004


Total Net Sales                                    $184,000,000
Total Cost Of Goods Sold                            182,000,000
                                                 --------------
Gross Profit                                          2,000,000
Total MAT Expense                                    18,000,000
                                                 --------------
Operating Income                                    (16,000,000)
Equity Loss from Affiliates                           2,000,000
Interest Expense, net                                (5,000,000)
Other Income, net                                     4,000,000
Reorganization Items:
    Professional fees                                (3,000,000)
    Employee severance and retention costs                    -
                                                 --------------
    Total Reorganization Items                       (3,000,000)
                                                 --------------
Loss Before Taxes                                   (18,000,000)
Income Taxes                                                  -
                                                 --------------
NET LOSS                                           ($18,000,000)
                                                 ==============

Headquartered in St. Louis, Missouri, Solutia, Inc. --
http://www.solutia.com/ -- with its subsidiaries, make and sell a
variety of high-performance chemical-based materials used in a
broad range of consumer and industrial applications.  The Company
filed for chapter 11 protection on December 17, 2003 (Bankr.
S.D.N.Y. Case No. 03-17949).  When the Debtors filed for
protection from their creditors, they listed $2,854,000,000 in
assets and $3,223,000,000 in debts.  (Solutia Bankruptcy News,
Issue No. 29; Bankruptcy Creditors' Service, Inc., 215/945-7000)


SONICBLUE INC: Releases September 2004 Monthly Operating Report
---------------------------------------------------------------
At Sept. 30, 2004, SONICblue Incorporated reports that it is
sitting on $79,469,563 of cash, has accrued $546,253 in
postpetition liabilities and faces a $236,904,166 mountain of
prepetition debts.

A full-text copy of SONICblue Inc.'s September 2004 Operating
Report is available at no charge at:


http://www.sec.gov/Archives/edgar/data/850519/000095013405000514/f04529exv99
w1.txt


Headquartered in Santa Clara, California, SONICblue Incorporated
is involved in the converging Internet, digital media,
entertainment and consumer electronics markets.  The Company,
together with three of its wholly owned subsidiaries, Diamond
Multimedia Systems, Inc., ReplayTV, Inc., and Sensory Science
Corporation, filed voluntary petitions for bankruptcy under
Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the Northern District of California,
San Jose Division (Case No. 03-51775).


THAXTON GROUP: Nov. 30 Balance Sheet Upside-Down by $11.9 Million
-----------------------------------------------------------------
On Dec. 29, 2004, The Thaxton Group filed its Monthly Operating
Report for November 2004 with the U.S. Bankruptcy Court for the
District of Delaware.   The company reports a cumulative net loss
of $11,640,433 on $521,135 revenue for the period from Oct. 17,
2003 thru Nov. 30, 2004.

At Nov. 30, 2004, the Company's balance sheet reflects:

      Total Assets                      $157,888,570
      Total Liabilities                  169,802,749
      Stockholders' Deficit               11,914,179

A full-text copy of Thaxton Group's November 2004 Monthly
Operating Report is available at no charge at:


http://www.sec.gov/Archives/edgar/data/1001430/000119312505003664/dex991.htm


Headquartered in Lancaster, South Carolina, The Thaxton Group,
Inc., is a diversified consumer financial services company.  The
Company filed for Chapter 11 protection on October 17, 2003
(Bankr. Del. Case No. 03-13183).  The Debtors are represented by
Michael G. Busenkell, Esq., and Robert J. Dehney, Esq., at Morris,
Nichols, Arsht & Tunnell.


TRUMP HOTELS: Earns $4.9 Million of Net Income in November 2004
---------------------------------------------------------------

             Trump Hotels & Casino Resorts, Inc., et al.
                     Consolidated Balance Sheet
                         November 30, 2004


                               ASSETS


Current Assets
    Cash & cash equivalents                            $112,238
    Receivables, net                                     34,176
    Inventories                                          11,232
    Prepaid & other current                              17,987
    Advances to affiliates                                    -
                                                     ----------
                                                        175,633

Investment in affiliates                                 28,779
Property & Equipment, net                             1,722,512
Due from affiliates                                           -
Notes receivable                                              -
Deferred loan costs                                      20,499
Other assets                                             95,649
                                                     ----------
Total Assets                                         $2,043,072
                                                     ==========

                        LIABILITIES & EQUITY


Current Liabilities
    Current portion of long-term debt                   $58,653
    Accounts payable                                     35,314
    Accrued payroll                                      24,809
    Self-insurance reserves                              10,993
    Accrued federal/state tax                            34,258
    Accrued interest                                     99,422
    Due to affiliates                                     4,409
    Accrued tax                                           7,573
    Due to City of Gary                                   3,704
    Other current liabilities                            33,672
                                                     ----------
Total current liabilities                               312,807

Mortgage Notes Payable                                1,760,766
Mortgage Notes Payable - DJT                             16,367
Long-term debt, others net of discount                   35,808
Deferred income taxes                                         -
Other long term liabilities                              23,777
                                                     ----------
Total Liabilities                                     2,149,525

Common stock                                                321
Common stock - class B                                        -
Preferred stock                                               -
Treasury stock                                          (20,200)
Contributed capital - June 1995                          48,925
Contributed capital - pre June 12 ,1995                   3,214
Phantom stock                                               933
Contributed capital - Taj Mahal                         405,740
Contributed capital - TCA merger                              -
Contributed capital - TCH                                     -
Contributed capital - DJT 2003                           14,921
Additional contributions                                      -
Contribution from THCR Holdings                               -
Contribution TACA discount                                    -
Distributions to THCR                                         -
Partnership distribution                                      -
DJT note writedown                                       (3,167)
Accumulated earnings                                   (445,110)
Current year net income                                (112,030)
                                                     ----------
Total equity                                           (106,453)
                                                     ----------
Total liabilities & equity                           $2,043,072
                                                     ==========


             Trump Hotels & Casino Resorts, Inc., et al.
                    Consolidated Operating Results
                For the Period November 21 to 30, 2004
                           (In Thousands)


Revenue
    Tables                                               $7,975
    Slots                                                22,453
    Other                                                   795
                                                        -------
    Total Casino                                         31,223

    Rooms                                                 2,168
    Food & beverage                                       3,327
    Entertainment                                           160
    Other                                                 1,089
                                                        -------
    Gross Revenues                                       37,967
    Less: Promotional allowance                           3,940
                                                        -------
    Net Revenues                                         34,027

Expenses
    Payroll                                              10,787
    Cost of goods sold                                    1,155
    Coin/table coupons                                    4,831
    Promotional expenses                                  1,185
    Advertising                                             334
    Marketing/entertainment                               1,716
    Gaming tax & regulatory fees                          3,875
    Property tax, rent & insurance                        2,005
    Utilities                                               946
    Allowance - doubtful accounts                           146
    General admin & other expenses                        2,511
                                                        -------
    Total Operating Expenses                             29,491

Gross Operating Income                                    4,536

    Interest income                                         119
    Interest expense                                          -
    Depreciation & amortization                             163
    Loss in joint venture                                   103
    Other non-operating income (expense)                      -
    Income tax provision                                     22
                                                        -------
Net Income (Loss)                                        $4,943
                                                        =======


             Trump Hotels & Casino Resorts, Inc., et al.
               Consolidated Statements of Cash Flows
               For the Month Ended November 30, 2004
                           (In Thousands)


EBITDA before corporate expenses                        $14,834

Capital expenditures                                     (3,974)

Debt service
    DIP financing                                        25,786
    Payment of DIP Interest/fees                             (9)
    Capital lease repayments                             (4,273)
    Other BHPA debt, Plaza warehouse                     (1,182)
    Debt renegotiation costs                            (17,663)

Non-operating charges
    CRDA, WF utilities                                        -
    Corporate charges                                      (800)

Timing differences
    Real estate, state taxes                             (4,918)
    Other                                                 2,216

Advances (to) from affiliates:
    THCR working capital                                      -
    TAC interest payment                                      -
    TCH interest payment                                      -
    Other                                                     -

Other interest income                                       172
                                                      ---------
Increase (decrease) in cash                              10,189

Beginning cash - working capital                         52,274
                                                      ---------
Ending cash - working capital                           $62,463
                                                      =========

Headquartered in Atlantic City, New Jersey, Trump Hotels & Casino
Resorts, Inc., through its subsidiaries, owns and operates four
properties and manages one property under the Trump brand name.
The Company and its debtor-affiliates filed for chapter 11
protection on Nov. 21, 2004 (Bankr. D. N.J. Case No. 04-46898
through 04-46925).  Robert A. Klymman, Esq., Mark A. Broude, Esq.,
John W. Weiss, Esq., at Latham & Watkins, LLP, and Charles
Stanziale, Jr., Esq., Jeffrey T. Testa, Esq., William N. Stahl,
Esq., at Schwartz, Tobia, Stanziale, Sedita & Campisano, P.A.,
represent the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
more than $500 million in total assets and more than $1 billion in
total debts.


WESTPOINT STEVENS: Posts $12.6 Million Net Loss in November 2004
----------------------------------------------------------------

                       WESTPOINT STEVENS, INC.
                            Balance Sheet
                         At November 30, 2004
                            (in thousands)

                                Assets


Current Assets
    Cash and cash equivalents                            $1,106
    Short-term investments                                    -
    Accounts receivable, net                            216,331
    Inventories                                         323,173
    Prepaid expenses and other current assets            12,591
                                                     ----------
Total current assets                                    553,201

Total investments and other assets                      119,612
Goodwill                                                      -
Property, Plant and Equipment, net                      511,557
                                                     ----------
TOTAL ASSETS                                         $1,184,370
                                                     ==========

             Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise:
    Senior Credit Facility                             $438,240
    DIP Credit Agreement                                 80,117
    Second lien facility                                165,000
    Accrued interest payable                              6,591
    Accounts payable - trade                             48,720
    Accounts payable - intercompany                     190,885
    Other accrued liabilities                            97,817
    Deferred income taxes                                     -
    Pension and other liabilities                       138,952
                                                     ----------
Total liabilities not subject to compromise           1,166,322

Liabilities Subject to Compromise
    Senior notes                                      1,000,000
    Deferred financing fees                              (4,856)
    Accrued interest payable on Senior Notes             36,130
    Accounts payable                                     26,574
    Other payables and accrued liabilities                8,237
    Pension and other liabilities                        18,807
                                                     ----------
Total liabilities subject to compromise               1,084,892
                                                     ----------
Total Liabilities                                     2,251,214

Shareholders' Equity (Deficit)
    Equity of subsidiaries                             (123,757)
    Common stock                                            711
    Capital surplus/Treasury Stock                       51,436
    Retained earnings (deficit)                        (883,624)
    Minimum pension liability adjustment               (101,921)
    Other adjustments                                    (9,689)
    Unearned compensation                                     -
                                                     ----------
Stockholders' Equity (Deficit)                       (1,066,844)
                                                     ----------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)   $1,184,370
                                                     ==========


                       WESTPOINT STEVENS, INC.
                       Statement of Operations
                    Month Ended November 30, 2004
                            (in thousands)


Total sales                                            $110,217
Cost of sales                                           103,248
                                                     ----------
    Gross profit                                          6,969

Selling and administrative expenses
    Selling expenses                                      2,745
    Warehousing and shipping                              5,030
    Advertising                                             410
    Division administrative expense                         937
    MIS expense                                           1,175
    Corporate administrative expense                      1,391
                                                     ----------
Total selling and administrative expense                 11,688
Restructuring and impairment charge                           -
Goodwill impairment charge                                    -
                                                     ----------
    Profit (loss) from operations                        (4,719)

Interest expense
    Interest expense - outside                            6,268
    Capitalized interest expense                              -
    Interest expense - intercompany                         409
    Interest income                                           -
    Interest income - intercompany                            -
                                                     ----------
Net interest expense                                      6,677

Other expense
    Miscellaneous                                         1,038
    Royalties - intercompany                              3,700
    Transaction gain/loss                                     -
                                                     ----------
    Total other expense                                   4,738

Other income
    Royalties - intercompany                                  -
    Dividends                                                 -
    Sale of assets                                          836
    Miscellaneous                                            (1)
                                                     ----------
    Total other income                                      835
                                                     ----------
Net other expense                                         3,903
                                                     ----------
Income (loss) before Chapter 11 reorganization
    expenses and income taxes (benefit) and
    extraordinary items                                 (15,299)

Chapter 11 reorganization expenses                          710

Income tax expense (benefit)                             (3,415)

Extraordinary item - net of taxes                             -
                                                     ----------
Net Income (loss)                                      ($12,594)
                                                     ==========


                       WESTPOINT STEVENS, INC.
                       Statement of Cash Flows
                     Month Ended November 30, 2004
                            (in thousands)


Cash flows from operations:
Net income (loss)                                      ($12,594)
    Restructuring                                             -
    Equity adjustments                                    1,597
    Depreciation and amortization expense                12,015
    Fixed asset impairment charge                             -
    Gain (Loss) on sale of assets                          (836)
Working Capital Changes
    Decrease/(increase) - accounts receivable             6,170
    Decrease/(increase) - inventories                     7,564
    Decrease/(increase) - other current assets             (242)
    Decrease/(increase) - other non-current
       assets & debts                                       559
    Increase/(decrease) - accounts payable (trade)       (1,219)
    Increase/(decrease) - a/p (intercompany)             11,642
    Increase/(decrease) - accrued liabilities           (11,137)
    Increase/(decrease) - accrued interest payable        5,863
    Increase/(decrease) - pension and other liabilities   1,416
    Increase/(decrease) - deferred federal income tax         -
                                                      ---------
Total cash flows from operations                         20,798

Cash flows from investing activities:
    Capital expenditures                                   (870)
    Transfers                                                 -
    Net proceeds from sale of assets                        (74)
                                                      ---------
Total cash flows from investing                            (944)

Cash flows from financing activities:
    Increase/(decrease)- DIP Credit Agreement           (20,520)
                                                      ---------
Total cash flows from financing                         (20,520)

Beginning cash balance                                    1,772
Change in cash                                             (666)
                                                      ---------
Ending cash balance                                      $1,106
                                                      =========

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. 36; Bankruptcy Creditors' Service, Inc., 215/945-
7000)


WESTPOINT STEVENS: WP Stevens I Posts $4.4 Mil. Net Income in Nov.
------------------------------------------------------------------

                     WESTPOINT STEVENS, INC., I
                           Balance Sheet
                       At November 30, 2004
                           (in thousands)

                               Assets

Current Assets
    Cash and cash equivalents                              $339
    Accounts receivable - intercompany                   35,120
    Inventories                                           5,928
    Prepaid expenses and other current assets                 -
                                                      ---------
Total current assets                                     41,387

Total investments and other assets                      124,052
Property, Plant and Equipment, net                       12,144
Goodwill                                                      -
                                                      ---------
TOTAL ASSETS                                           $177,583
                                                      =========

             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                               $983
    Accounts payable - intercompany                           -
    Other accrued liabilities                            17,797
    Deferred income taxes                                     -
    Pension and other liabilities                             -
                                                      ---------
Total Liabilities Not Subject to Compromise              18,780

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                                        20,217

Shareholders' Equity (Deficit)
    Equity of subsidiaries                                    -
    Common stock                                              1
    Capital surplus/Treasury Stock                       70,559
    Retained earnings (deficit)                          86,806
    Minimum pension liability adjustment                      -
    Other adjustments                                         -
    Unearned compensation                                     -
                                                      ---------
Shareholders' Equity (Deficit)                          157,366
                                                      ---------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)     $177,583
                                                      =========


                     WESTPOINT STEVENS, INC., I
                       Statement of Operations
                   Month Ended November 30, 2004
                           (in thousands)

Net sales                                                $9,204
Cost of goods sold                                        6,034
                                                      ---------
    Gross earnings                                        3,170

Selling and administrative expenses
    Selling expenses                                          -
    Warehousing and shipping                                239
    Advertising                                               -
    Division administrative expense                           -
    MIS expense                                               -
    Corporate administrative expense                        170
                                                      ---------
Total selling and administrative expense                    409

Restructuring and impairment charge                           -
Goodwill impairment charge                                    -
                                                      ---------
    Operating earnings (loss)                             2,761

Interest expense
    Interest expense - outside                                -
    Capitalized interest expense                              -
    Interest expense - intercompany                           -
    Interest income                                           1
    Interest income - intercompany                          465
                                                      ---------
Net interest expense                                       (466)

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

Other income
    Royalties - intercompany                              3,714
    Dividends                                                 -
    Sale of assets                                            -
    Miscellaneous                                             -
                                                      ---------
Total other income                                        3,714
                                                      ---------
Net other expense                                        (3,524)
                                                      ---------
Income (loss) before Chapter 11 reorganization
    expenses and income taxes (benefit) and
    extraordinary items                                   6,751

Chapter 11 reorganization expenses                            -

Income tax expense (benefit)                              2,367

Extraordinary item - net of taxes                             -
                                                      ---------
     Net Income (loss)                                   $4,384
                                                      =========


                     WESTPOINT STEVENS, INC., I
                       Statement of Cash Flows
                    Month Ended November 30, 2004
                           (in thousands)

Cash flows from operations:
Net income (loss)                                        $4,384
Non-cash items
    Depreciation and amortization                            99
Working Capital Changes
    Decrease/(increase) - a/r (customers)                     -
    Decrease/(increase) - a/r (intercompany)             (9,585)
    Decrease/(increase) - inventories                     1,721
    Decrease/(increase) - other current assets
    Decrease/(increase) - other non-current assets            -
    Increase/(decrease) - accounts payable (trade)          266
    Increase/(decrease) - a/p (intercompany)                  -
    Increase/(decrease) - accrued liabilities             3,114
    Increase/(decrease) - accrued interest payable            -
    Increase/(decrease) - pension & other liabilities         -
    Increase/(decrease) - deferred federal income tax         -
                                                      ---------
Total cash flows from operations                             (1)

Cash flows from investing activities:
    Capital expenditures                                     14

    Transfers                                                 -
    Net proceeds from sale of assets                          -
                                                      ---------
Total cash flows from investing                              14

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

Beginning cash balance                                      326
Change in cash                                               13
                                                      ---------
Ending cash balance                                        $339
                                                      =========

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. 36; Bankruptcy Creditors' Service, Inc., 215/945-
7000)


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

                      J.P. STEVENS & CO., INC.
                           Balance Sheet
                       At November 30, 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
November 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. 36; Bankruptcy Creditors' Service, Inc., 215/945-
7000)


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

                    J.P. STEVENS ENTERPRISES, INC.
                            Balance Sheet
                        At November 30, 2004
                            (in thousands)

                                Assets


Current Assets
    Cash and cash equivalents                               $17
    Accounts receivable - intercompany                   17,117
    Prepaid expenses and other current assets                 -
                                                     ----------
Total current assets                                     17,134

Total investments & other assets                              -
Goodwill                                                      -
                                                     ----------
TOTAL ASSETS                                            $17,134
                                                     ==========

           Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise:
    Accounts payable - intercompany                           -
    Other accrued liabilities                              $370
    Deferred income taxes                                     -
    Pension and other liabilities                             -
                                                     ----------
Total Liabilities Not Subject to Compromise                 370

Liabilities Subject to Compromise                             -
                                                     ----------
Total Liabilities                                           370

Shareholders' Equity (Deficit)
    Equity of subsidiaries                                    -
    Common stock                                              2
    Capital surplus/Treasury Stock                            -
    Retained earnings (deficit)                          16,762
    Minimum pension liability adjustment                      -
    Other adjustments                                         -
    Unearned compensation                                     -
                                                     ----------
Stockholders' Equity (Deficit)                           16,764
                                                     ----------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)      $17,134
                                                     ==========


                    J.P. STEVENS ENTERPRISES, INC.
                       Statement of Operations
                    Month Ended November 30, 2004
                             (in thousands)


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

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

Interest expense
    Interest expense - outside                                -
    Capitalized interest expense                              -
    Interest expense - intercompany                           -
    Interest income                                           -
    Interest income - intercompany                          $74
                                                     ----------
Net interest expense                                        (74)

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                                     264

Chapter 11 reorganization expenses                            -

Income tax expense (benefit)                                 92

Extraordinary item - net of taxes                             -
                                                     ----------
    Net Income (loss)                                      $172
                                                     ==========


                    J.P. STEVENS ENTERPRISES, INC.
                       Statement of Cash Flows
                    Month Ended November 30, 2004
                            (in thousands)


Cash flows from operations:
Net income (loss)                                          $172
Non-cash items
    Depreciation and amortization                             -
Working Capital Changes
    Decrease/(increase) - a/r (intercompany)               (266)
    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                93
    Increase/(decrease) - accrued interest payable            -
    Increase/(decrease) - pension & other liabilities         -
    Increase/(decrease) - deferred federal income tax         -
                                                     ----------
Total cash flows from operations                              1

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                                       18
Change in cash                                               (1)
                                                     ----------
Ending cash balance                                         $17
                                                     ==========

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. 36; Bankruptcy Creditors' Service, Inc., 215/945-
7000)


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

                   WESTPOINT STEVENS STORES, INC.
                           Balance Sheet
                        At November 30, 2004
                           (in thousands)

                               Assets


Current Assets
    Cash and cash equivalents                            $2,448
    Accounts receivable - customers                         219
    Accounts receivable - intercompany                    6,618
    Total Inventories                                    19,985
    Prepaid expenses and other current assets               919
                                                      ---------
Total current assets                                     30,189

Total investments & other assets                              -
Goodwill                                                      -
Property, plant and equipment, net                        2,224
                                                      ---------
TOTAL ASSETS                                            $32,413
                                                      =========

           Liabilities and Stockholders' Equity (Deficit)

Liabilities Not Subject to Compromise
    Accounts payable - trade                               $544
    Accounts payable -intercompany                            -
    Other accrued liabilities                             6,702
    Deferred income taxes                                     -
    Pension and other liabilities                             -
                                                      ---------
Total Liabilities Not Subject to Compromise               7,246
                                                      ---------
Liabilities Subject to Compromise
    Accounts payable                                      1,674
                                                      ---------
Total Liabilities                                         8,920

Shareholders' Equity (Deficit)
    Equity of subsidiaries                                    -
    Common stock                                              1
    Capital surplus/Treasury Stock                       15,955
    Retained earnings (deficit)                           7,537
    Minimum pension liability adjustment                      -
    Other adjustments                                         -
    Unearned compensation                                     -
                                                      ---------
Stockholders' Equity (Deficit)                           23,493
                                                      ---------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)      $32,413
                                                      =========


                   WESTPOINT STEVENS STORES, INC.
                      Statement of Operations
                   Month Ended November 30, 2004
                           (in thousands)


Net sales                                                $7,959
Cost of goods sold                                        4,746
                                                      ---------
    Gross earnings                                        3,213

Selling and administrative expenses
    Selling expenses                                      2,043
    Warehousing and shipping                                174
    Advertising                                             264
    Division administrative expense                         289
    MIS expense                                              56
    Corporate administrative expense                         82
                                                      ---------
Total selling and administrative expense                  2,908
Restructuring and impairment charge                           -
Goodwill impairment charge                                    -
                                                      ---------
    Operating earnings (loss)                               305

Interest expense
    Interest expense - outside                                -
    Capitalized interest expense                              -
    Interest expense - intercompany                         154
    Interest income                                           -
    Interest income - intercompany                            -
                                                      ---------
Net interest expense                                        154

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                                     151

Chapter 11 reorganization expenses                            -
Income tax expense (benefit)                                 54

Extraordinary item - net of taxes                             -
                                                      ---------
    Net Income (loss)                                       $97
                                                      =========


                   WESTPOINT STEVENS STORES, INC.
                      Statement of Cash Flows
                   Month Ended November 30, 2004
                           (in thousands)


Cash flows from operations:
Net income (loss)                                           $97
Non-cash items
    Depreciation and amortization                            55
    Gain on sale of assets                                    -
Working Capital Changes
    Decrease/(increase) - a/r (customers)                   (11)
    Decrease/(increase) - a/r (intercompany)             (1,604)
    Decrease/(increase) - inventories                     1,955
    Decrease/(increase) - other current assets              (25)
    Decrease/(increase) - other non-current assets            -
    Increase/(decrease) - accounts payable (trade)          (88)
    Increase/(decrease) - a/p (intercompany)                  -
    Increase/(decrease) - accrued liabilities               519
    Increase/(decrease) - accrued interest payable            -
    Increase/(decrease) - pension & other liabilities         -
    Increase/(decrease) - deferred federal income tax         -
                                                      ---------
Total cash flows from operations                            898

Cash flows from investing activities
    Capital expenditures                                      -
    Transfers                                                 -
    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                                    1,550
Change in cash                                              898
                                                      ---------
Ending cash balance                                      $2,448
                                                      =========


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. 36; 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
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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
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Monthly Operating Reports are summarized in every Saturday edition
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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, Dylan
Carlo L. Gallegos, 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.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $675 for 6 months delivered via e-
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for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher
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                    *** End of Transmission ***