TCR_Public/950607.MBX


BANKRUPTCY CREDITORS' SERVICE, INC.





        (ARGYLE-TELEVISION) Argyle Television Holding II Inc. announces
        management agreement for WGRZ-TV, Buffalo, N.Y.  
   

      
       

     SAN ANTONIO, Texas--June 7, 1995--Argyle Television
        Holding II Inc. Wednesday announced that it has entered into a
        management agreement with Tak Communications
Inc.
, operating under
        Chapter 11 of the Bankruptcy Code, to provide management services
        for WGRZ-TV, the NBC affiliate in Buffalo, N.Y.   
        


            In January 1995, Argyle II and Tak entered into an asset-
        purchase agreement under which Argyle is to purchase WGRZ-TV and
        KITV, the ABC affiliate in Honolulu, from Tak.  The approval of the
        Federal Communications Commission for the assignment of the FCC
        licenses for these stations from Tak to Argyle II became final
        Tuesday, June 6.  The closing of the purchase of KITV is expected to
        occur on June 13, 1995.
   

      
       

     Because of issues related to Tak's bankruptcy, the closing of
        the purchase of WGRZ is expected to occur in December 1995.  Prior
        to the closing, Argyle II will provide management services to Tak
        relating to WGRZ.  Eric Land, formerly vice president and general
        manager of WEYI-TV in Flint-Saginaw, Mich., will be Argyle II's
        employee on-site providing these services.
        


            ``As an accommodation to the seller to enable Tak to wrap up its
        bankruptcy, under which it has been operating since 1991, we agreed
        to postpone the closing of WGRZ until the end of the year,'' said
        Bob Marbut, Argyle II's chairman and chief executive officer.   
   

      
       

     ``We are excited about the prospect of helping to bring a fresh
        start to Channel 2, and Tak will be able to utilize the resources
        and expertise of our company in the operation of WGRZ pending the
        closing.''  
        


            ``Eric Land, whom I have known and worked with over a number of
        years, is an experienced broadcaster and has the skills and talent
        to help Tak reinvigorate a station which has been operating under
        difficult financial conditions,'' said Blake Byrne, Argyle II's
        president and chief operating officer.
   

      
       

     According to Tak Communications, Tak already has paid virtually
        all of its business and trade creditors in full, and it is working
        with its banks and other institutional creditors to satisfy in full
        their claims for principal and interest on more than $200 million in
        debt.
        


            Argyle II currently owns television stations WZZM, the ABC
        affiliate in Grand Rapids, Mich.; WNAC, the Fox affiliate in
        Providence, R.I.; and WAPT, the ABC affiliate in Jackson, Miss.
   


        CONTACT:  Argyle Television Holding II Inc., San Antonio
                  Bob Marbut, 210/828-1700
   






        (CORNING)(GLW) Corning Says Second Quarter To Include Special
        Charges
   

      
       

     CORNING, N.Y.--June 7, 1995--Corning Incorporated
        (NYSE:GLW) indicated today that its second quarter results will
        include two special charges.  As a result of Dow
Corning Corporation's
previously announced filing on May 15 for protection
        under Chapter 11 of the United States Bankruptcy Code, Corning said
        it will record a special charge of $365.5 million, or $1.62 per
        share, to fully reserve its investment in Dow Corning.  Beginning in
        the second quarter, Corning will also discontinue recognition of
        equity earnings from Dow Corning.   
        


            Second quarter results will also include a restructuring charge
        of approximately $36 million after tax, or $0.16 per share.  As
        previously indicated, the charge reflects the costs of additional
        workforce reductions and facility consolidations associated with
        Corning's ongoing reengineering programs.   
   

      
       

     In the second quarter of 1994, Corning reported net income of
        $111.4 million, or $0.54 per share, which included $22.6 million, or
        $0.11 per share, of equity earnings from Dow Corning.   
        


            Corning's second quarter ends June 18, 1995, and the company
        expects to report its results June 27.   
   

      
       

     Corning Incorporated is a Fortune 500 company which reports its
        financial results in four segments: specialty materials,
        communications, laboratory services and consumer products.  For 1994
        revenues totaled $4.8 billion.   
        


            Dow Corning Corporation is a 50-percent owned equity investment
        with The Dow Chemical Company.   
   



        CONTACT: Investor Relations Contact:
                 Richard B. Klein, 607/974-8313
                 Katherine M. Dietz, 607/974-8217
                                or
                 Kathryn C. Littleton, 607/974-8206
                 John H. Abrams, 607/974-8832