TCR_Public/950609.MBX


BANKRUPTCY CREDITORS' SERVICE, INC.





  NEW ERA REMOVED FROM PENNSYLVANIA'S SUIT IN EFFORT TO CONSERVE ASSETS
  


   HARRISBURG, Pa., June 8, 1995 -- In a move
   designed to conserve the assets of the bankrupt
Foundation for New Era Philanthropy
, Attorney General Ernie Preate Jr. said he
today agreed
   to remove the foundation from a lawsuit his office filed last month in
   Commonwealth Court.
   


   "We don't want to deplete funds that can be used for restitution to
   charities that lost their investments with New Era," the Attorney
   General said. "Forcing New Era into additional litigation certainly
   would result in significant expenditures from New Era's bankrupt
   estate.
   


   "We will continue to actively participate in all proceedings before
   the Bankruptcy Court in order to preserve and protect the charitable
   assets, and to ensure the equitable distribution of those funds."
   


   Under the consent agreement filed today in Commonwealth Court, New Era
   is permanently barred from conducting charitable solicitations in
   Pennsylvania.
   


   Preate pointed out that the foundation's president, John G. Bennett
   Jr., remains a defendant in the suit.
   


   In filing the suit May 16, Preate's office alleged that Bennett and
   New Era defrauded charities while promising to double charities'
   deposits through matching grants from anonymous contributors. It
   charged the defendants with violations of the state's Charities Act,
   Consumer Protection Law and Nonprofit Corporation Law.
   


   Preate's suit was filed in Commonwealth Court a day after New Era
   filed for reorganization in U.S. Bankruptcy Court. On May 19, New Era
   converted its bankruptcy filing to a Chapter 7 liquidation.
   


   Preate noted that the Bankruptcy Court proceedings apply only to New
   Era and not to Bennett personally.
   


   The consent agreement removing New Era from the state's suit was filed
   by Chief Deputy Attorney General Janice L. Anderson, who heads
   Preate's Charitable Trusts and Organizations Section. She said the
   agreement is subject to court approval.
   


   The agreement was signed by John T. Carroll III, the bankruptcy
   court-appointed interim trustee for New Era. Carroll's duties include,
   among other things, identifying and safeguarding New Era's assets,
   Anderson said.
   


   Although the agreement bars New Era from conducting charitable
   solicitations in Pennsylvania, it doesn't stop the trustee "from
   collecting any monies or charitable solicitations voluntarily or
   otherwise on behalf of the estate of New Era," according to the
   agreement.
   


   /CONTACT: Jack J. Lewis, assistant press secretary of the Office of
   Attorney General, 717-787-5211, or at home, 717-657-9840/





        (EMERSON-RADIO)(MSN) EMERSON RADIO CORP. ANNOUNCES FISCAL YEAR AND
        FOURTH QUARTER RESULTS; Fourth Quarter Net Income $2.0 Million Vs.
        Loss Of $24.2 Million Before One-Time Extraordinary Gain; Revenue
        Increases 34% for the Year, Company Improves Results  
   

      
       

     PARSIPPANY, N.J.--JUNE 9, 1995--EMERSON
        RADIO CORP. (AMEX Symbol: MSN)
today announced results for the fiscal year
        and fourth quarter ended March 31, 1995.   
        


            For the year, net sales rose 34% to $654,671,000, up from
        $487,390,000 reported for the fiscal year ended March 31, 1994.  Net
        income for fiscal 1995 was $7,375,000, or $0.16 per share, compared
        with a net loss of $73,654,000, or $1.93 per share, for fiscal 1994.
        (Fiscal 1994 figures exclude an extraordinary gain of $129.2
        million, or $3.38 per share, resulting from the extinguishment of
        debt through the restructuring plan.)  
   

      
       

     For the three months ended March 31, 1995, the Company reported
        that net sales increased 22% to $125,560,000, up from $103,115,000
        reported in the quarter ended March 31, 1994.  Emerson reported net
        income of $2,022,000, or $0.04 per share, compared with a net loss
        (before the extraordinary gain) of $24,232,000, or $0.63 per share,
        recorded in the comparable quarter last year.   
        


            The Company noted that since its reorganization, the balance
        sheet has significantly improved with working capital increasing 32%
        to $42.6 million at March 31, 1995, up from $32.2 million in the
        comparable prior year end period.  Shareholders' equity increased
        26% to $53.7 million at March 31, 1995 from $42.6 million at March
        31, 1994.   
   

      
       

     Commenting on the announcement, Geoffrey P.  Jurick, Chairman
        and Chief Executive Officer, stated, "We are proud to announce
        results for Fiscal 1995.  The year was certainly Emerson's most
        significant in history and began a day after the Company emerged
        from bankruptcy. Since then, events that unfolded have shown that
        our restructuring was indeed successful.  We closed the year with a
        vastly improved operating structure, achievements in diversifying
        the product line, tremendous gains in sales volumes, markedly
        improved financial results, and solid profitability.  Earnings per
        share totaled $0.16, and mark a dramatic improvement over last
        year's comparable loss of $1.93 per share.  In the most recently
        completed quarter, a successful marketing and sales effort, coupled
        with our commitment to controlling costs, has resulted in our
        Company again exceeding goals set in the reorganization plan."   
        


            "We further diversified the product offering in January 1995
        with the introduction of two new product lines at the Consumer
        Electronics Show.  The first comes under an agreement with a large,
        diversified Hong Kong company that will sell watches and clocks
        under the Emerson name.  Emerson will receive royalties for the use
        of its name and will receive distribution fees acting as the
        exclusive sales agent for the products in North America.  The second
        new product line is ready-to-assemble (RTA) furniture, currently a
        growing $1 billion industry.  Emerson will sell TV and VCR stands,
        microwave oven carts, entertainment centers, and CD and video
        storage units.  The new line will be sourced from the Far East and
        sold through the traditional mass merchandiser distribution
        channels."   
   

      
       

     Gene Davis, President, continued, "Looking ahead, we plan to
        leverage off our strong financial position and remain committed to
        the single goal of using our strengths to create an even more
        profitable and diversified consumer products company.  In doing so,
        we will leverage our widely-recognized trademark, highly reliable
        sourcing capabilities, extensive distribution infrastructure, and
        goodwill among our customers.  We will do this through strategic
        relationships and alliances that will not require the type of
        enormous capital investment that brought on previous financial
        difficulties.  We remain confident that Emerson is well-positioned
        to take advantage of numerous opportunities in the global consumer
        products market, and that we will achieve continued success in the
        coming years."   
        


            EMERSON RADIO CORP., founded in 1948, is headquartered in
        Parsippany, NJ.  The Company designs and markets, throughout the
        world, a full line of televisions, video, audio and microwave oven
        products.

         
          
                  EMERSON RADIO CORP. AND SUBSIDIARIES
                  Consolidated Statements of Operations
                    ($000, except per share amounts)
          
                         Three Months Ended March 31,   Year Ended March 31,
                              1995        1994           1995         1994
                                (Unaudited)
         
        Net sales               $ 125,560   $ 103,115     $ 654,671  $487,390
          
        Costs and Expenses:
          Cost of sales           113,526     103,370       604,329   486,536
          Other operating  
        costs & expenses            1,994       1,640         8,771     12,001
          Selling, general &  
        administrative  
        expenses                    7,189       6,732        31,047     34,552

                                  122,709     111,742       644,147    533,089

        Operating profit (loss)     2,851      (8,627)       10,524    (45,699)
        Interest expense              758          49         2,882     10,243  
        Earnings (loss) before  
          reorganization
          costs and income taxes    2,093      (8,676)        7,642     (55,942)
        Reorganization costs           --      15,427            --      17,385  
        Earnings (loss) before
          income taxes and
          extraordinary gain        2,093     (24,103)        7,642     (73,327)
        Provision for income taxes     71         129           267         327
          
        Earnings (loss) before  
          extraordinary gain        2,022     (24,232)        7,375     (73,654)
        Extraordinary gain on
          extinguishment of debt       --     129,155            --     129,155
          
        NET EARNINGS (LOSS)       $ 2,022    $104,923       $ 7,375    $ 55,501
          
        Net earnings (loss)
          per common share:
          
        Before extraordinary gain  $ 0.04    $  (0.63)       $ 0.16     $  (1.93)
        Extraordinary gain             --        3.38
        --       3.38         
         
                                   $ 0.04    $   2.75         $ 0.16    $   1.45
          
        Weighted average number
          of common shares
          outstanding              46,695      38,191        46,571       38,191

          

        The information contained herein was obtained from the management of
        Emerson Radio Corp. and other sources deemed to be reliable.  This  
        document does not constitute the solicitation of the purchase or
        sale of securities.  Lippert/Heilshorn & Associates, Inc.  is employed by
        the Company as its investor relations firm.   
   



        CONTACT: Media Contact:  
                 Andrew LaGuardia
                 Geltzer & Company
                 (212) 575-1976
                    or  
                 Company Contact:   
                 Eugene I. Davis  
                 President                                
                 Emerson Radio Corp.   
                 (201) 884-5800
                    or
                 Keith L. Lippert/Richard G. Foote
                 Lippert/Heilshorn & Associates, Inc.
                 (212) 838-3777      

    



        (TRENTON-INDUSTRIES-INC)(TII) TRENTON INDUSTRIES INC. - COMPANY
        ANNOUNCEMENT  
   

      
       

     TRENTON, Ontario--JUNE 9, 1995--
TRENTON INDUSTRIES INC (TSE: TII)
Trenton Industries Inc. (the "Company") announces
        that at the June 7, 1995 meeting of its unsecured creditors and
        those of its subsidiaries, Sailrail Enterprises Limited and Trenton
        Machine Tool Inc.  The creditors overwhelmingly accepted the
        Companies' Proposals to them under the Bankruptcy and Insolvency Act
        (Canada) ("BIA").   
        


            The Company wishes to express its appreciation of the
        substantial contribution that the unsecured creditors have made to
        the continued viability of the Companies and hence to their
        employees and the other stakeholders of the Companies.  Subject to
        fulfillment of all of the other reorganization steps and the
        completion of the other conditions of the Proposals, the approval of
        the unsecured creditors of the Company will result in the removal of
        approximately $3,900,000.00 of debt from the consolidated balance
        sheets of the Companies.   
   

      
       

     The other conditions of the Proposal and of the successful
        reorganization of the Companies include completion of concessions
        negotiated with the secured creditors of the Companies, approvals by
        the shareholders of the Company at its July 13, 1995 shareholders'
        meeting of share issues involving the conversion of debt to equity,
        and court approval under the BIA.  While the failure of any of these
        other elements of the reorganization would result in the failure of
        the Proposal and hence the bankruptcies of the Companies, it is
        hoped that the approval of the unsecured creditors of the Proposals
        will result in the approval of the other stakeholders of the
        Companies, including the shareholders at the July 13, 1995 meeting.
        



        CONTACT:  Mr. Brian D. Kinmond,  Tel:  (613) 394-4861  
                                         Fax:  (613) 394-6095  
                  or  
                  Mr. R. Bryan McJanner, Tel:  (905) 339-0214  
                                         Fax:  (905) 339-0814