TCR_Public/950308.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



MOODY'S COMMENTS ON THE FINANCIAL STATUS OF CALIFORNIA SCHOOL DISTRICTS
      -- THE DEPARTMENT OF EDUCATION INCLUDES ALL ORANGE COUNTY DISTRICTS
      AMONG THOSE EXPERIENCING DIFFICULTY DUE TO INVESTMENT POOL PROBLEMS



  NEW YORK, New York--March 8,1995--As part of its ongoing surveillance
efforts, Moody's Investors Service has
placed under review nine California
school districts because of potential financial difficulties.


  This is in addition to the 11 school districts in href="chap11.orange.html">Orange County, California
already under review.  This action is in response to the California Department
of Education's recently issued semiannual memorandum addressing the financial
status of California school districts.


  The First Interim Report for the 1994-95 school year lists two districts
with Negative Certification and 57 districts with Qualified
Certification.


  Negative Certification is assigned to districts that will not meet their
financial obligations for the remainder of the fiscal year; Qualified
Certification is assigned to a district that may not meet its financial
obligations for the remainder of the fiscal year.


  Consistent with our past practices, Moody's will publish a fuller discussion
of the rated districts after release of the state's second and final interim
report for the 1994-95 fiscal year in May. Significant developments for any of
the districts will be reported as reviews are completed.


  Moody's maintains debt ratings (unenhanced by insurance) on 20 of the 57
qualified districts; five districts have ratings based on bond insurance.  
Neither of the districts with Negative Certification is rated by Moody's.


  The 57 Qualified districts include all 27 districts in Orange County, of
which 11 districts are rated by Moody's.  The inclusion as Qualified reflects
the districts' limited access to funds invested in the Orange County
Investment Pool (OCIP) as a result of the pool's large investment losses and
its subsequent bankruptcy filing on December 6, 1994.


  Chowchilla Union High School District in Madera County is also Qualified
given its involvement in the Orange County Investment Pool. In a memorandum to
the districts in its jurisdiction, the Orange County Department of Education
noted that the state finds that the districts are "extremely well managed and
governed," and that the Qualified Certification is a result of the OCIP
bankruptcy proceedings.


  Of the districts in the county, only Orange Unified School District has been
previously listed as Qualified in the first interim report of 1993-94; this
status was noted in January 1994 when Moody's assigned an A rating to the
district's COPs.  The rated school districts in Orange County are being
reviewed as part of Moody's surveillance of OCIP participants.


  Currently, the bankruptcy court and the creditors' committee are allowing
school districts to withdraw up to 30% of their monies in the pool, although
some districts with urgent needs may withdraw up to 50%.  The aggregate
withdrawals by all school districts cannot exceed 30% of the districts'
investments.  Such withdrawals are for emergency operating purposes such as
meeting debt service and payroll.


  Using these guidelines, Moody's has contacted each of the school districts
in the OCIP for a preliminary assessment of their liquidity and ability to
meet near term debt service requirements.


  To date, Moody's has reviewed cash flows and held extensive discussions with
Irvine Unified, Centralia Elementary, Santa Ana Unified and Capistrano Unified
School Districts.  These four districts will remain under review pending
further clarification of the status of the OCIP.


  For further information on these districts, please see the respective credit
comments published February 10 on Centralia Elementary and Santa Ana Unified,
February 23 on Capistrano Unified, and March 7 on Irvine Unified.  Moody's is
continuing our discussions with the other seven districts to obtain additional
documentation. We expect to report on their status over the next few
weeks.


  The following is the complete State Department of Education's list of school
districts that received Qualified or Negative Certifications for the first
interim report of fiscal year 1994-95. Although Moody's does not rate all the
districts, we have provided this list as a service to our subscribers and have
included the assigned classifications of the individual districts.


  Ratings are for general obligation bonds unless otherwise noted. Negative
Certifications: Negative certification is assigned by the California
Department of Education to a school district or county office of education
that will not meet its financial obligations for the remainder of the fiscal
year.



District or
County Office
of Education                  County            Rating
---------------------------   ---------------   ------------
West Fresno Elementary        Fresno            NR

Mountain Empire Unified       San Diego         NR

  Qualified Certifications: Qualified certification is assigned by the
California Department of Education to a school district or county office
of education that may not meet its financial obligations for the
remainder of the fiscal year.


District or
County Office  
of Education                      County              Rating
---------------------------       ---------------     ------------


Alameda Unified(a)                Alameda              A
Albany Unified(a)                 Alameda              (1)
Vallecito Union Elementary        Calaveras            Baa
West Contra Costa Unified         Contra Costa         Ba(2)
Brawley Union High School         Imperial             NR
Calexico Unified                  Imperial             Con. (Baa)(2)
Acton-Agua Dulce Unified(a)       Los Angeles          NR
Compton Unified(a)                Los Angeles          (1)
Duarte Unified                    Los Angeles          NR
Inglewood Unified                 Los Angeles          NR
Garvey Elementary                 Los Angeles          NR
Montebello Unified                Los Angeles          (1)
Palmdale Elementary               Los Angeles          Con. (Baa)(2)
William S. Hart Union
High School(a)                   Los Angeles          A1
Madera County Office
of Education                     Madera               NR
Chowchilla Union High School      Madera               Con. (Baa)(3)(2)
Round Valley Unified              Mendocino            NR
Monterey Peninsula                Monterey             NR
Orange County Office
of Education                     Orange               NR
Anaheim Elementary                Orange               NR
Anaheim Union High School         Orange               NR
Brea-Olinda Unified               Orange               Baa1(3)(2)
Buena Park Elementary             Orange               NR
Capistrano Unified                Orange               A(4)
Centralia Elementary              Orange               A(4)
Cypress Elementary                Orange               A(3)
Fountain Valley Elementary        Orange               A(3)
Fullerton Elementary              Orange               NR
Fullerton Joint Union
  High School                     Orange               NR
Garden Grove Unified              Orange               NR
Huntington Beach Elementary       Orange               NR
Huntington Beach Union
High School                      Orange               A(3)
Laguna Beach Unified              Orange               NR
La Habra City Elementary          Orange               NR
Magnolia Elementary               Orange               NR
Newport-Mesa Unified              Orange               NR
Ocean View Elementary             Orange               NR
Orange Unified(a)                 Orange               A(3)
Placentia Unified                 Orange               A1(3)
Santa Ana Unified                 Orange               A1(4)
Savanna Elementary                Orange               NR
Westminister Elementary           Orange               NR
Saddleback Valley Unified         Orange               (1)
Tustin Unified                    Orange               NR
Irvine Unified                    Orange              A(3)
Los Alamitos Unified              Orange              Baa1(3)(5)
Colfax Elementary(a)              Placer              NR
Hesperia Unified                  San Bernardino      NR
Needles Unified                   San Bernardino      NR
Manteca Unified                   San Joaquin         NR
Jefferson Union High School       San Mateo           NR
Eastside Union High School(a)     Santa Clara         A1
Redding Elementary                Shasta              Baa1
Butte Valley Unified(a)           Siskyou County      NR
Monte Rio Elementary(a)           Sonoma              NR
Ocean View Elementary             Ventura             A
Rio Elementary                    Ventura             (1)

NOTE: (a) Noted as negative or qualified certification during 1993-94.

(1)Debt insured.
(2)Certificates of  Participation.
(3)Under review as an Orange County Investment Pool Participant.
(4)Initial review performed. Ratings remain under review pending
clarification of the status of the OCIP.
(5)Mello-Roos bonds.
Source: California  Department of Education.

           CONTACT:  Moody's Investor Service, New York
                     Mary Francoeur
                     Assistant Vice President
                     212/553-7240




COURT DISMISSES BANKRUPTCY PETITION FILED AGAINST COMPREHENSIVE CARE
CORP.



  NEWPORT BEACH, Calif., March 8, 1995 -- href="chap11.comprehensive.html">Comprehensive Care Corp.'s
(NYSE:CMP)" target=_new>http://www.secapl.com/cgi-bin/edgarlink?CMP">(NYSE:CMP)
chairman, president and chief executive officer, Chriss W. Street,
announced that on March 7, 1995 the U.S. Bankruptcy Court for the Northern
District of Texas, Fort Worth Division, dismissed the involuntary bankruptcy
petition previously filed against the company.


  Comprehensive Care Corp. provides cost effective health care management and
behavioral medicine services on an at-risk and contractual basis throughout
the United States.


  /CONTACT:  Chriss W. Street, chairman & president of Comprehensive Care,
714-644-9425; or Rudy R. Miller of The Miller Group, 602-225-0505/