SPRINGFIELD, Mass. -- March 29, 1995 -- All
For A Dollar Inc.
announced today that the disclosure statement filed on Feb.
21, 1995, with the U.S. Bankruptcy Court in Springfield, Mass., has been
accepted by the Bankruptcy Court.
The confirmation hearing for the Plan of Reorganization is scheduled for
June 7, 1995, before the Bankruptcy Court in Springfield, Mass.
The company will commence the solicitation of votes for approval of the
plan. Confirmation of the Plan of Reorganization by the court will require
the affirmative votes of creditors holding at least two-thirds of the
aggregate indebtedness held by the voting creditors, and comprising at least
50 percent in number of those creditors voting on the plan. In addition,
because the plan contemplates the issuance of warrants to purchase AFAD common
stock to a lender who would provide post-Chapter 11 financing to AFAD, the
plan will be submitted to AFAD shareholders for their approval, and will
require the affirmative votes of shareholders who hold at least two-thirds of
the shares which are voted on approval of the plan.
CONTACT: All For A Dollar,
Donald A. Molta, 413/733-1203
EAGAN, Minn., March 29, 1995 -- Cray" target=_new>http://www.cray.com">Cray
Research, Inc. href="(NYSE:" target=_new>http://www.secapl.com/cgi-bin/edgarlink?CYR">(NYSE:CYR)
president and chief operating officer Robert H. Ewald said his firm was
saddened by the Chapter 11 bankruptcy protection filing announced March 24 by
unrelated Cray Computer Corp., Colorado
Cray Research amicably spun off Cray Computer Corporation as a
in 1989, Ewald said. "Although the two firms are unrelated and Cray Computer
could have become a rival, people at Cray Research continued to admire Seymour
Cray after he left Cray Research to head up Cray Computer Corporation. He is
the undisputed father of supercomputing, as well as our own founder at an
earlier date. We wish him well in whatever he chooses to do next."
Cray Research spun off Cray Computer Corporation in November 1989 and holds
no stock in Cray Computer Corporation.
Cray Research, founded in 1972, is the global supercomputing market leader.
The firm had 1994 earnings of $55.7 million on record revenues of $921.6
million. In 1994, Cray Research held a two-thirds share of the high-end
supercomputing market, became the revenue-leader in the scientific-technical
market for massively parallel processing (MPP) systems, and tripled order
volume for the firm's low-priced compact supercomputers and commercial
database Superserver systems.
/CONTACT: Media, Steve Conway, 612-683-7133 or Financial, Brad Allen,
612-683-7395, both of Cray Research/