TCR_Public/950714.MBX


BANKRUPTCY CREDITORS' SERVICE, INC.





        CRAY COMPUTER CORP. BOARD OF DIRECTORS AUTHORIZES CHAPTER 11 PLAN
   


            COLORADO SPRINGS, Colo.--July 14, 1995--Cray
Computer
        Corp. (Nasdaq: CRAY)
announced today that its board of directors has
        authorized and directed officers of the corporation to take all
        steps they deem necessary or appropriate to prepare and implement a
        Chapter 11 Plan pursuant to which all or most of the assets of the
        corporation will be sold for the benefit of the corporation's
        creditors and, to the extent feasible, the benefit of the
        shareholders of the corporation. Management of the corporation
        believes that a liquidating distribution to its shareholders is
        unlikely.
   

      

            Since filing under Chapter 11 of the United States Bankruptcy
        Code in the United States Bankruptcy Court for the District of
        Colorado on March 24, 1995, the officers of the corporation have
        pursued the possibility that the corporation could emerge from its
        Chapter 11 bankruptcy as a going concern.  These officers have
        concluded, and the board of directors has agreed, that the
        corporation will not be able to continue its business.  The
        corporation will pursue the liquidation of its assets pursuant to a
        Chapter 11 Plan to be prepared and presented to the Bankruptcy
        Court.
   

      

        /CONTACT:  Cray Computer Corp., 719-579-6464/
   


      


         

        LESLIE FAY'S EXCLUSIVITY PERIOD IS EXTENDED THROUGH SEPTEMBER 15, 1995  
   

      

            NEW YORK, NY--JULY 14, 1995--The Leslie Fay
Companies,
        Inc.
  announced today that the U.S. Bankruptcy Court for the
        Southern District of New York has granted a motion extending the
        period during which the company has the exclusive right to file a
        plan of reorganization from July 17, 1995, through September 15,
        1995.  Likewise, the period during which the company can solicit
        acceptances for the reorganization plan has been extended through
        November 17, 1995.   
   

      

            As previously announced, Leslie Fay hopes to file a plan of
        reorganization and disclosure statement with the bankruptcy court by
        the end of July and emerge from chapter 11 by the end of the year
        restructured around its core dress and sportswear businesses.   
   

      

            Founded in 1947, The Leslie Fay Companies, Inc., is one of the
        nation's leading manufacturers of women's apparel, including
        dresses, suits and sportswear.  Its brand names include Leslie Fay,
        Albert Nipon, Kasper for A.S.L., Castleberry, Outlander, and HUE.   
   

      

        CONTACT: James Fingeroth
                 Michael Freitag
                 Kekst and Company
                 (212) 593-2655





        TRENTON INDUSTRIES INC. - COMPANY UPDATE  
   

      

        TRENTON, ONTARIO--JULY 14, 1995--
Trenton Industries Inc.
(the "Company")
        announces that at the July 13, 1995 annual and special meeting of
        its shareholders, the shareholders overwhelmingly approved the
        authority of the directors of the Company to negotiate and
        complete debt reorganization transactions including those
        involving the issue of shares.  
   

      

            In summary, the particular transactions, previously disclosed in
        detail, involve the issue of a total of 14,640,973 common shares of
        the Company to satisfy $962,250.00 of financial obligations owed to
        the Company's term lender, Penfund Capital (No.  1) Limited, the
        issue of up to 62,059,529 units of securities of the Company
        consisting of one common share plus half a warrant (with one full
        warrant entitling the holder for a period of five years to purchase
        one common share at $0.10 per share) to satisfy up to $4,345,000.00
        of secured operating debt of the Company; and the issue of up to
        24,310,252 common shares of the Company to acquire all of the
        minority interest in its principal operating subsidiary, Trenton
        Machine Tool Inc. (including retractable preferred shares and rights
        to common shares).   
   

      

            Shareholders' approval of these transactions, now achieved, was
        one more fundamental component of the Company's reorganization plan
        and a condition of completion of the current Proposals of the
        Company and its subsidiaries (the "Companies") under the Bankruptcy
        and Insolvency Act (Canada) ("BIA").  The other remaining conditions
        of the Proposals and of the successful reorganization of the
        Companies include completion of all legal documentation related to
        the concessions negotiated in principle with the secured creditors
        of the Companies (which include the requirement for new operating
        lines of credit for the Companies) and court approval of the
        Proposals under the BIA.  The court hearing for approval is
        scheduled for August 16, 1995.   
   

      

            The Company wishes to express its appreciation to its
        shareholders for their support of this reorganization plan.  While a
        failure of any of the remaining elements of the reorganization would
        result in the failure of the Proposals and, hence, the bankruptcies
        of the Companies, it is hoped that agreements can be concluded with
        secured creditors on the basis of the agreements in principle
        reached to date.   
   

      

             CONTACT:  Mr. Brian D. Kinmond
                       President & Chief Operating Officer  
                       Trenton Industries Inc.  
                       (613) 394-4861  
                       (613) 394-6095 (fax)  
                       or  
                       Mr. R. Bryan McJannet  
                       Chairman and Chief Executive Officer  
                       Trenton Industries Inc.  
                       (905) 339-0214  
                       (905) 339-0814  





        HAYES & ROCKWELL ANNOUNCE SETTLEMENT; OUT OF COURT AGREEMENT
        RESOLVES LITIGATION
   

      

            ATLANTA, Georgia--July 14, 1995--Hayes
Microcomputer Products,
        Inc.
and Rockwell International, Inc. (NYSE: ROK) announced today
        that they have resolved all legal disputes in a mutually
        satisfactory out-of-court settlement.
   

      

            "Settlement of these issues allows Hayes to avoid further
        litigation that might have delayed our emergence from Chapter 11,
        and allows us to move ahead with our intended merger with Boca
        Research, Inc.," says Dennis C. Hayes, President and Chairman of
        Hayes Microcomputer Products, Inc.  "It also confirms the validity
        of Hayes 'Heatherington 302 Patent' and protects customers who
        license that technology through Rockwell."
   

      

            Although details of the settlement were not disclosed, attorneys
        for both companies indicate that supply of modem chips and chip sets
        to Hayes will continue uninterrupted.  It is anticipated that the
        settlement will be approved by the U.S. Bankruptcy Court in the near
        term.
   

      

            "We are enthusiastic about a long-term business relationship
        with Hayes," said Dwight W. Decker, President, Telecommunications,
        Rockwell International.  "Hayes is a significant Rockwell customer,
        and this settlement reestablishes a strong working relationship
        between the companies that should ultimately result in the
        development of new technologies to enhance the overall
        communications marketplace."
   

      

            Rockwell Telecommunications is based in Newport Beach,
        California and includes two principal businesses: the Digital
        Communications Division (DCD), comprised of Modem Systems, Wireless
        Systems and Network Systems, and the Microelectronics Technology
        Center (MTC).  DCD is the worldwide market leader in fax and data
        modem chip sets.  MTC is a leading supplier of gallium arsenide
        technology for commercial communications applications.
   

      

            Rockwell is a diversified, high-technology company holding
        leadership market positions in automation, avionics, aerospace,
        defense electronics, telecommunications, automotive components and
        graphic systems, with annual worldwide sales of nearly $13 billion.
   

         

            Best known as the leader in microcomputer modems, Hayes
        develops, supplies and supports computer communications equipment
        and software for personal computers and computer communications
        networks.  The company distributes its products through a global
        network of authorized distributors, dealers, mass merchants, VARs,
        system integrators and original equipment manufacturers.
   

      

        /CONTACT:  Susan Merkel of Hayes Microcomputer Products, Inc.,
        404-840-6824, or Fax: 404-441-1238, or Internet address:
        smerkelhayes.com/