TCR_Public/950523.MBX


BANKRUPTCY CREDITORS' SERVICE, INC.




ROCKEFELLER CENTER PROPERTIES RESTATES RESULTS OF OPERATIONS FOR THE
FIRST QUARTER ENDED MARCH 31, 1995


    

   NEW YORK, New York--May 23, 1995 -- Rockefeller Center
   Properties Inc. (RCPI) announced today that due to the May 11, 1995
   Chapter 11 filing by the Borrower (two partnerships, HREF="chap11.rcp.html">Rockefeller
   Center Properties
and RCP Associates), under the mortgage loan
   receivable which is RCPI's principal asset, the Company has limited
   recognition of income on the mortgage loan for the first quarter of
   1995 to the cash actually received from the Borrower during this
   period. As a result of the change to the cash basis of income
   recognition the Company has restated the results of operations for the
   first quarter resulting in an increase of $6,758,000 from the net loss
   previously reported on April 25, 1995.


    

   The restated results in the first quarter of 1995 are a net loss of
   $7,478,000, or $.20 per share, as compared to net income of
   $6,667,000, or $.17 per share, for the same period in 1994. In
   addition to revenue recognition of loan interest income on a cash
   basis, the loss for the first quarter of 1995 is attributable in part
   to a charge to earnings of $4,434,000, or $.12 per share, representing
   a current non cash adjustment for the stock appreciation rights which
   were issued in December 1994.



Quarter to March 31               1995             1994

Revenues                      $20,446,000      $27,270,000

Interest expense              $21,365,000      $19,272,000

General and administrative    $ 1,276,000      $ 1,155,000

Amortization of deferred

debt issuance costs          $   849,000      $   176,000

Stock appreciation rights     $ 4,434,000            ---

Net (loss) income            ($7,478,000)      $ 6,667,000

Net (loss) income per share       ($0.20)            $0.17

-0-

The Company's common stock is listed on the New York Stock Exchange
under the symbol RCP.  As of May 19, 1995 there were 38,260,704
shares outstanding.


   CONTACT: Rockefeller Center Properties Inc. | Stephanie Leggett
Young, 212/698-1440, 800/555-6444





  DELAWARE BANKRUPTCY COURT APPROVES AWARD OF BUDDY L ASSETS TO EMPIRE OF
  CAROLINA, INC.
   

   DELRAY BEACH, Fla., May 22, 1995 --
Empire of
   Carolina, Inc. (AMEX: EMP), today announced that its bid to purchase
   substantially all of the assets of Buddy L  
Inc.
, a subsidiary of SLM International (Nasdaq: SLMIE), was approved by the
Bankruptcy Court for the District of Delaware at a court hearing held on May 19, 1995.
   Empire believes that the transaction, which is expected to close by
   June 30, 1995, will have a positive impact on its earnings beginning
   in 1996.


    

   It is estimated that in 1994, Buddy L had revenues in excess of
$120 million.


    

   As previously announced, upon closing of the transaction Empire      
   will pay the creditors of Buddy L a combination of common stock, cash   
   and an earnout with a minimum consideration equal to $15 million. As    
   part of the transaction, Empire will also purchase certain accounts
   receivable and inventories of Buddy L, subject to certain terms.


    

   "We are very excited about the addition of the Buddy L toy lines to
   our own. The synergies between our two companies will allow us to
   significantly increase revenues, leverage our recent expansions of
   infrastructure and increase profitability," noted Steven Geller,
   Chairman and Chief Executive Officer of Empire of Carolina. "Now that
   the bulk of the Court proceedings are behind us, we can work towards
   closing the transaction and integrating our businesses."


    

Empire of Carolina designs, develops, manufactures and markets a broad
   range of basic plastic children's toys. Its Holiday Products Division
   produces and markets decorative seasonal items including Christmas,
   Halloween and Easter illuminated products. The Company's full line of
   basic toys include the Big Wheel line of ride-on toys, Grand Champion
   collectible horse figures, the MR-1 line of race car sets as well as
   T.V. advertised and licensed products sold under the Mighty Morphin
   Power Ranger name.


    

/CONTACT: Investor Relations: Naomi Rosenfeld or Howard Zar, or Press,
   Lisa Bradlow of Morgen-Walke Associates, 212-850-5600/ (EMP SLMIE)