TCR_Public/950518.MBX


BANKRUPTCY CREDITORS' SERVICE, INC.





BANKRUPTCY COURT EXTENDS EXCLUSIVITY PERIODS FOR COLUMBIA GAS COMPANIES UNTIL OCTOBER 16


  

  WILMINGTON, Delaware--May 18, 1995-- The U.S. Bankruptcy Court for the  
District of Delaware today extended until October 16, 1995, the period during  
which The Columbia Gas System, Inc., (NYSE: CG)  
and its principal pipeline subsidiary, Columbia Gas Transmission Corp., have the  
exclusive right to advance Chapter 11 plans of reorganization.  The Court also  
extended the companies' exclusive rights to solicit acceptances for their plans of  
reorganization until December 18, 1995. The extensions were granted without  
objection.



  The two companies filed reorganization plans on April 17, 1995, and the  
bankruptcy court is in the process of considering the plans and the associated  
disclosure statements.



  The Columbia Gas System, Inc., and Columbia Gas Transmission Corp., which  
have been operating as debtors in possession under Chapter 11 of the U. S.  
Bankruptcy Code since July 31, 1991, have been granted nine prior extensions.



  /CONTACT:  W.R. McLaughlin, 302-429-5443, or H.W. Chaddock, 302-429-5261, or  
(financial), T. L. Hughes, 302-429-5363, or K. P. Murphy, 302-429-5471, all of  
Columbia Gas/






DIA RESPONDS TO REPORTS ON FOUNDATION FOR NEW ERA PHILANTHROPY



  DETROIT, May 18, 1995 -- The following was released today by The  
Detroit Institute of Arts Founders Society:



  The Detroit Institute of Arts Founders Society is deeply saddened and  
disappointed about recent reports indicating that the
Foundation for New Era Philanthropy
of Philadelphia, Pennsylvania has filed for  
bankruptcy.



  Along with approximately 300 charitable organizations around the country,  
the Founders Society had applied for and was approved for matching grants from  
New Era to support the programs and operations of the DIA.  The decision by  
the Founders Society to participate in the Foundation's program came only  
after it had conducted considerable investigation and due diligence with other  
charitable organizations and leading citizens around the country who had been  
involved with New Era, and after the Founders Society had received partial  
financial guarantees from certain of its trustees.  To date, the Founders  
Society has transferred $3,000,000 to the Foundation and has received back  
$2,O00,000.  Accordingly, New Era continues to owe the Founders Society at  
least $1,000,000 and the Founders Society remains hopeful that New Era will  
fulfill its obligations.



  "It is important to note that no public or taxpayer funds are involved,"  
said Joseph P. Bianco Jr., Executive Vice President of the Founders Society,  
"and that prior to participating in the program the Founders Society received  
partial financial guarantees from certain of its trustees, thus reducing its  
exposure.  We will of course continue to monitor the situation, and we expect  
no impact on the museum's daily operations or services to the public."



  /CONTACT:  Cyndi A. Summers of the DIA, 313-833-7962/