TCR_Public/950324.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



CRAY COMPUTER CORP. FILES CHAPTER 11



  COLORADO SPRINGS, Colo., March 24, 1995 Cray
Computer Corp.

(Nasdaq:CRAY)" target=_new>http://www.secapl.com/cgi-bin/edgarlink?CRAY">(Nasdaq:CRAY)
announced today that it has filed a petition under Chapter 11
of the United States Bankruptcy Code in the United States Bankruptcy Court for
the District of Colorado.  The company has suspended work on its supercomputer
systems and laid off its engineering, manufacturing and marketing
personnel.


  The company has been unable to complete a planned $20 million placement of
common stock with foreign and institutional investors. This placement was
required to finance development and market introduction of the company's
CRAY-4 supercomputer system and of its hybrid massively parallel/vector
CRAY-3/Super Scalable System.


  /CONTACT:  Cray Computer Corp., 719-579-6464/