TCR_Public/950728.MBX

BANKRUPTCY CREDITORS' SERVICE, INC.






        SUPRADUR ASSETS SOLD
   

      

            RYE, N.Y.--July 27, 1995--Supradur
Companies, Inc. (Nasdaq: SUPD)
, today announced that the sale to GAF Premium
        Products, Inc., pursuant to order of the United States Bankruptcy
        Court, Southern District New York at White Plains, of substantially
        all of its assets and the assets of its wholly owned subsidiaries,
        Supradur Manufacturing Corporation and Appaloosa Express, Inc., was
        concluded on July 20, 1995.
   

      

            As a result of the sale, the company anticipates sufficient
        proceeds for payment of approximately five percent of bona fide and
        undisputed claims of its unsecured creditors and the unsecured
        creditors of Supradur Manufacturing Corporation and Appaloosa
        Express, Inc.  Supradur does not anticipate that there will be any
        funds to make a distribution to its shareholders.
   

      

            Supradur Companies, Inc. is a publicly held company whose shares
        are traded in the Over-the-Counter market under the Nasdaq symbol
        SUPD.
   

      

        /CONTACT:  Alfred E. Netter, 914-967-8230 of Supradur/
   


      


         

        BANKRUPTCY COURT SCHEDULES CONFIRMATION HEARINGS ON COLUMBIA
        COMPANIES' PLANS OF REORGANIZATION TO BEGIN NOVEMBER 13
   

      

            WILMINGTON, Del.--July 27, 1995--The Bankruptcy Court
        for the District of Delaware today scheduled confirmation hearings
        to begin November 13 for the amended Chapter 11 reorganization plans
        filed by The Columbia Gas System, Inc. (NYSE: CG) and its principal
        pipeline subsidiary, Columbia Gas
        Transmission Corp
.
   

      

            In other action, the court established voting and solicitation
        procedures for both plans and approved the amended disclosure
        statement for the Parent Company's reorganization plan.  Columbia
        Transmission's disclosure statement was approved by the court on
        July 18.
   

      

            Ballots seeking ratification of the plans are expected to be
        mailed to creditors of each company and to the Parent Company's
        shareholders by early September.
   

      

            Columbia System Chairman and CEO O. G. Richard III said the
        company was extremely pleased with the confirmation schedule
        established by the court, pointing out that it should enable the
        companies to maintain their current timetable and emerge from
        Chapter 11 prior to the end of this year.
   

      

            The Columbia Gas System, Inc., one of the nation's largest
        natural gas holding companies, and Columbia Transmission have been
        operating as debtors-in-possession under Chapter 11 of the
        Bankruptcy Code since July 31, 1991.
   

      

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


      


         

        GORDON BROTHERS TO ASSIST MAY DEPARTMENT STORES AND J.C. PENNEY IN
        THEIR OFFER FOR WOODWARD & LOTHROP AND WANAMAKER
   

      

            BOSTON, Ma--July 27, 1995--Boston-based, Gordon Brothers
        Partners today announced that it has signed an agreement with The
        May Department Stores Company (NYSE: MA) and J.C. Penney Company
        Inc. in support of the May/Penney joint bid filed with the United
        States Bankruptcy Court of the Southern District of New York to
        acquire assets owned by Woodward & Lothrop and
John Wanamaker
.
   

      

            If the May/Penney joint bid is approved by the Bankruptcy Court,
        Gordon Brothers will advance to Woodward & Lothrop approximately
        $110 million for the inventory on hand (plus an additional amount
        for on order goods of as much as $40 million) in connection with the
        liquidation of certain inventory.
   

      

        /CONTACT:  Elizabeth Wicks of Gordon Brothers Partners,
        617-422-6299/
   


      


         

        STATEMENT FROM WOODWARD & LOTHROP, INCORPORATED AND JOHN WANAMAKER,
        PHILADELPHIA
   

      

        WASHINGTON, DC--July 27, 1995--The management of HREF="chap11.woodies.html"> Woodward & Lothrop Incorporated and John Wanamaker,
Philadelphia today issued the following statement:
   

      

            "We have received a bid today to purchase most of the companies'
        assets from a bidding partnership comprised of The May Department
        Stores Company and J.C. Penney Company, Inc.  The bid appears to be
        in compliance with the bidding procedures approved by the Court.
   

      

            "Because we received the bid as a private document, we cannot
        discuss the contents of the bid at this time.  We will analyze the
        bid carefully in advance of the Bankruptcy Court hearing on August
        8.  As we have said before, we intend to support the Court's
        decision with respect to the best bid and fairest treatment of all
        constituencies.  We continue to be encouraged by the progress being
        made in the Chapter 11 proceeding."
   

      

            Woodward & Lothrop is a full-line department store company which
        currently operates 15 Woodward & Lothrop department stores, 14, John
        Wanamaker, Philadelphia department stores, four specialty home
        furnishing stores, and three clearance centers.  The stores are
        located predominantly in the Washington D.C. and Philadelphia
        metropolitan areas.  The company has approximately 9,000 store,
        headquarters and distribution center employees.
   

      

        /CONTACT:  Rivian Bell or Sandra Sternberg of Sitrick And Company,
        Inc. 310-788-2850/
   

      


         

        THE MAY DEPARTMENT STORES COMPANY AND JCPENNEY CO. INCREASE OFFER
        FOR WOODWARD & LOTHROP AND WANAMAKER
   

      

         Joint Bid is $58 Million More than Bid by
        Federated/Strawbridge/Others
   

      

                  May/Penney Bid Provides for over 8,000 Jobs
   

      

            ST. LOUIS, Mo., and PLANO, Texas--July 27, 1995--The May
        Department Stores Company and J.C.Penney Company, Inc. (NYSE: JCP)
        today announced that they have filed with the United States
        Bankruptcy Court of the Southern District of New York a joint bid to
        acquire assets of Woodward & Lothrop and John
Wanamaker
.  This joint bid produces $409 million of net distributable value to
creditors, which is $58 million more in net distributable value than the $351
        million from the previously announced offer made by the Federated
        group.
   

      

            The May/Penney bid also offers more jobs to Woodward & Lothrop
        and Wanamaker associates than under the Federated group's offer.
        Approximately 7,000 Woodward & Lothrop and Wanamaker store
        associates will be offered employment with Hecht's or Lord & Taylor
        (3,900 people upon the closing of the transaction and the remainder
        over the next 12 months).
   

      

        The terms of the bid are as follows:
   


            May will acquire three Woodward & Lothrop stores in Washington
        and 13 Wanamaker stores in the Philadelphia area.  JCPenney will
        acquire seven Woodward & Lothrop stores in the Washington/Baltimore
        area.
   

      

            In the Washington area, Hecht's will operate the store at Chevy
        Chase, and Lord & Taylor will operate the stores at Fair Oaks Mall
        and Lake Forest Mall.  In the Philadelphia area, Hecht's will
        operate stores at Springfield Mall, Deptford, Jenkintown, Montgomery
        Mall, Christiana Mall, Oxford Valley Mall, Berkshire Mall, Wynnewood Shopping
        Center, King of Prussia Mall, Roosevelt Mall, Moorestown, and Lehigh
        Valley Mall.  May will also acquire the Woodward & Lothrop
        distribution center in Baltimore and will acquire for resale the
        Shirley warehouse/clearance center in Washington and the Harrisburg
        East Mall store.  In addition, May has the right to acquire the
        Wanamaker store at Center City if suitable lease arrangements can be
        negotiated with the owner of that building.  May intends to continue
        to work with the owner to reach a mutually satisfactory arrangement
        by August 3, 1995.
   

      

            If  May does acquire the Center City location, there will be no
        change to the amount of the May/Penney bid.
   

      

            The seven Woodward & Lothrop stores that JCPenney will operate
        in the Washington/Baltimore area are: The Mall in Columbia, Landmark
        Shopping Center, Landover Mall, Montgomery Mall, Tysons Corner
        Center, Prince Georges Plaza and Wheaton Plaza.  When those stores
        which will be closed for remodeling are reopened, JCPenney will add
        more than 1,000 associates in the Washington/Baltimore market.  In
        addition, JCPenney will arrange for the White Marsh store to be
        conveyed by Woodward & Lothrop to a third party.
   

      

            All 3,300 Wanamaker store executives and sales associates,
        including those in the Harrisburg East Mall store, the Center City
        location (even if it is not acquired by May) and the Concord
        furniture store (which is not being acquired), will be offered
        employment and will be given credit in employee benefit plans for
        their years of service with Wanamaker.
   

      

            Over 600 Woodward & Lothrop store executives and sales and
        warehouse associates will be hired by Hecht's or Lord & Taylor
        immediately without interruption in employment.  The remaining
        Woodward & Lothrop store associates will be offered employment at
        Hecht's and Lord & Taylor stores as openings become available in
        Hecht's and Lord & Taylor stores in the greater Washington, D.C.
        trade area; it is expected that sufficient job openings will be
        available to enable all of those who apply to be employed within one
        year.  All former Woodward & Lothrop employees hired by Hecht's and
        Lord & Taylor by October 1, 1996, will receive credit in employee
        benefits plans for their years of service with Woodward & Lothrop.
   

      

            Subject to the May/Penney bid being declared the winning bid by
        the Bankruptcy Court, May agreed to enter into a collective
        bargaining agreement with Local 400 of the United Food and
        Commercial Workers
   

      

            Union, which represents 2,800 Woodward & Lothrop employees.  The
        agreement will initially cover the employees at the Chevy Chase
        store and the Baltimore distribution center.  The agreement, which
        must be voted on by the Woodward & Lothrop union membership, may
        also extend to include nine additional Hecht's stores, if Local 400
        obtains a majority status in the total bargaining unit.  Those
        locations are: Prince Georges Plaza, Marlow Heights, Landover Mall,
        Laurel Center Mall, St. Charles Towne Center, Wheaton Plaza, Lake
        Forest Mall, Montgomery Mall, and Metro Center.  In addition, May
        has agreed to contribute $250,000 to a supplemental income fund that
        will be administered by Local 400 to assist Woodward & Lothrop
        employees who do not have immediate employment.
   

      

            The May/Penney bid is subject to Bankruptcy Court approval and
        other requirements.  Bankruptcy Court hearings to review all bids
        and potential overbids are scheduled on August 8 and 9, 1995,
        according to the terms of an existing Bankruptcy Court order.
   

      

            The May Department Stores Company, with sales of $11.9 billion
        in 1994, is one of the largest retailers in the country, operating
        315 department stores and 4,583 shoe stores.  Its department store
        divisions and their headquarters are Lord & Taylor, New York;
        Foley's, Houston; Robinsons-May, Los Angeles; Hecht's, Washington,
        D.C.; Kaufmann's, Pittsburgh; Filene's, Boston; Famous-Barr, St.
        Louis; and Meier & Frank, Portland, Ore.  Its shoe store division is
        Payless ShoeSource, which is headquartered in Topeka.
   

      

            Lord & Taylor, with sales of $1.5 billion in 1994, operates 54
        stores in 15 states and the District of Columbia.  Hecht's, with
        sales of $1.4 billion in 1994, operates 45 stores in Virginia,
        Maryland, North Carolina and Washington, D.C.
   

      

            Hecht's is the leading retailer in the Washington metropolitan
        area, operating 14 stores there.  This fall, Hecht's is opening its
        first three stores in Pennsylvania, to be located in Harrisburg,
        Camp Hill and York.  Lord & Taylor is opening a store at King of
        Prussia Mall, Pa., this fall, joining its store at Bala Cynwyd in
        Philadelphia, and its four stores in the metropolitan Washington
        area.
   

      

            JCPenney, with its Home Office in Plano, Texas, is one of the
        nation's largest retailers of general merchandise.  The company
        primarily provides merchandise and services through department
        stores which include catalog departments.  Serving middle and
        middle/upper income consumers, the company markets predominantly
        family apparel, shoes, jewelry, accessories, and home furnishings.
   

      

            Founded by James Cash Penney in 1902 in Kemmerer, Wyo., JCPenney
        operates 1,235 stores in all 50 of the United States and Puerto
        Rico, with retail sales of more than $20 billion last year.
   

      

            JCPenney operates 14 department stores in the greater
        Washington/ Baltimore market: 10 of which are in Maryland and four
        in Virginia.
   

      

            Woodward & Lothrop is a full-line department store company which
        currently operates 15 Woodward & Lothrop department stores and 14
        John Wanamaker department stores.  The stores are located
        predominantly in the Washington, D.C. and Philadelphia metropolitan
        areas.  Woodward and Lothrop filed for Chapter 11 bankruptcy
        protection in January 1994.
   

      

        /CONTACT:  Jim Abrams of The May Department Stores Company,
        314-342-6343; or Hank Rusman of JCPenney, 214-431-1316/
   


      


         

        The Sports Authority Inc. purchases assets of Sportstown Inc.
   

      

            FORT LAUDERDALE, Fla.--July 28, 1995--The
        Sports Authority Inc. (NYSE:TSA) Friday announced it had received
        acceptance from U.S. Bankruptcy Court on its bid to assume seven
        leases from Sportstown Inc.
(NASDAQ:SPTNQ)
.   
   

      

            This transaction will result in The Sports Authority acquiring
        four locations in Atlanta as well as one location each in
        Greensboro, N.C., Charleston, S.C. and Greenville, S.C.   
   

      

            The company has entered into a joint venture with Nassi
        Bernstein Co. Inc. and Alco Capital Group Inc. to liquidate the
        inventory and fixtures for these seven locations plus an additional
        three stores, one located in Atlanta and two in Richmond, Va.  The
        company disclosed that it paid $9.5 million for the right to assume
        the leases.  
   

      

            Nassi Bernstein and Alco will pay $400,000 for the fixtures and
        approximately $14 million for the inventory, subject to a physical
        inventory.  It is expected that the inventory liquidation will begin
        today and last approximately 60 to 75 days.  This should provide
        sufficient time for the seven stores to be completely retrofitted as
        The Sports Authority stores and opened in time for the 1995 holiday
        season.   
   

      

            "This acquisition now gives us a total of 11 locations in
        Atlanta, enhancing our position as the leader in this major growth
        market.  It is consistent with our strategy to focus on increasing
        market share and leveraging our advertising and management costs.
        The timing of the acquisition is especially significant because it
        will allow us to open the locations before the holiday season, as
        well as gear up for the 1996 Summer Olympics Games taking place in
        Atlanta.  
   

      

            "We will continue to pursue additional sites in the Atlanta
        market, with one site identified for an expected opening in 1996
        prior to the commencement of the Olympic Games," stated Jack Smith,
        chairman, chief executive officer, and president, "We also believe
        that the three Carolina locations provide us with the opportunity to
        enter into markets that have excellent potential while continuing
        our expansion throughout the southeast."   
   

      

            The Sports Authority operates 110 megastores in 22 states across
        the United States.  The company has opened stores in Fort Myers,
        Fla., Kissimmee, Fla. and Danbury, Conn. in 1995.   
   


      
        CONTACT:  The Sports Authority Inc., Fort Lauderdale
                  Jack A. Smith, Chairman, President &  
                  Chief Executive Officer, 305/730-4300
                  or
                  Alexander L. Stanton, Investor Relations/
                  Treasury Manager, 305/677-6003
                  or
                  Richard J. Lynch Jr., Sr. VP & Chief
                  Financial Officer, 305/730-4263

         



        LTV ANNOUNCES 67 PERCENT EARNINGS GROWTH ON $64.6 MILLION OF INCOME
        FROM CONTINUING OPERATIONS FOR THE SECOND QUARTER
   

      

            CLEVELAND, Oh--July 28, 1995--The LTV
Corporation (NYSE: LTV)
announced income from continuing steel operations of $64.6
        million ($0.59 per share) for the second quarter of 1995, an
        improvement of $25.9 million ($0.18 per share) over the income from
        continuing operations of $38.7 million ($0.41 per share) for the
        second quarter of 1994.  Net income of $55.6 million ($0.51 per
        share) for the second quarter of 1995 included a net loss of $9.0
        million ($0.08 per share) resulting from the expected sale of LTV's
        energy products business, Continental Emsco Company, which is
        accounted for as a discontinued operation.
   

      

            LTV's Chairman and Chief Executive Officer, David H. Hoag, said:
        "We are pleased with the Steel Group's performance in the second
        quarter, which represents pre-tax income of $52 per ton.  This
        compares with $32 per ton in the same quarter last year, and is up
        by $10 per ton from the first quarter of 1995.  LTV's cash flow
        provided by operating activities also continues to be favorable,
        totaling $367 million in the first half of 1995 or $92 per ton."
   

      

            LTV's income from continuing operations for the six-month period
        ended June 30, 1995 was $115.5 million ($1.07 per share), an
        improvement of $60.7 million ($0.49 per share) over the year-ago
        period.  Net income for the six-month period ending June 30, 1995
        was $106.8 million ($0.99 per share), an improvement of $54.0
        million ($0.43 per share) over the net income of $52.8 million
        ($0.56 per share) for the six-month period ending June 30, 1994.
   

      

            Sales in the second quarter of 1995 increased to $1.11 billion,
        a 5% improvement over the 1994 quarter.  Shipments totaled 2.01
        million tons in the second quarter of 1995, up by 2% from the second
        quarter of 1994.  Sales totaled $2.20 billion for the first six
        months of 1995, an increase of 7% from the year-ago period.
        Shipments totaled 3.98 million tons, up by 2% from the previous
        year's six-month period.  The increases in sales and shipments in
        1995 reflect higher selling prices and increased customer demand.
   

      

            Income before income taxes and discontinued operations totaled
        $105.2 million for the 1995 second quarter, an increase of $42.3
        million over the same period of 1994.  Income before income taxes
        and discontinued operations for the first six months of 1995 was
        $187.3 million, an improvement of $106.0 million from the first six
        months of 1994.  These improvements were primarily due to higher
        average selling prices, increased shipments and improved marketing
        strategies. The 1995 results were also favorably impacted by
        productivity and operating performance improvements, including those
        achieved through the Cleveland Works' Direct Hot Charge Complex
        which became fully operational in the second quarter of 1994.
        However, these benefits were partially offset by additional costs
        related to the June 1994 labor agreement.
   

      

            During the 1995 second quarter, the Company incurred costs of
        approximately $8 million related to the blast furnace repair outage
        at the Indiana Harbor Works and recognized a $6 million gain from
        the sale of warrants which the Company received when it sold its Bar
        Division in 1989.
   

      

            Steel facilities operated at 98% of capacity during the second
        quarter of 1995 compared with 102% during the second quarter of
        1994, and raw steel production of 2.02 million tons decreased by
        81,000 tons compared with the same quarter of 1994.  This reduced
        production level was due to the four-week production interruption
        for the blast furnace repair outage at the Indiana Harbor Works.
        During the second half of 1995, LTV will complete two previously
        planned blast furnace repair outages at the Cleveland Works, which
        should each take less than 30 days to complete.  The first planned
        outage began on July 21, and the second planned outage is expected
        to begin in October.  The remainder of LTV's raw steel facilities
        are expected to operate at capacity during 1995.
   

      

            Steel facilities operated at 103% of capacity during the first
        six months of 1995.  Raw steel production increased by 92,000 to
        4.22 million tons in the 1995 period, compared with 1994.
        Production and costs in the 1994 first quarter were negatively
        impacted by the extremely cold weather conditions at the operating
        units.
   

      

        Financial Position and Liquidity
   


            Cash and marketable securities totaled $765 million at June 30,
        1995.  Also, at June 30, 1995, approximately $290 million was
        available for borrowings under the Company's credit facility.
        During the first six months of 1995, cash provided by operating
        activities totaled $367 million.  Major uses of cash during the
        first six months of 1995 included contributions to the Company's
        pension plans and capital expenditures.
   

      

            "The Company's pension plan contributions in the first half of
        1995 totaled $191 million.  The 1995 contributions further
        deleverage our capital structure, reduce annual pension expense and
        provide for future funding flexibility," said Mr. Hoag.
   

      

            The Company is required to record income tax expense at
        statutory rates.  However, it is able to use its significant income
        tax loss carryforwards to reduce its actual income tax payments.
        For the six months ended June 30, 1995, LTV reported income tax
        expense of $71.8 million, of which $70.7 million will not result in
        cash payments.
   

      

        Steel Market Outlook
   


            Mr. Hoag stated:  "While underlying steel demand continues to be
        relatively strong, a combination of customer inventory corrections
        and increased supply from foreign and domestic sources has resulted
        in somewhat softer steel market conditions.  The effect of this
        softness is being moderated by increases in hot rolled steel exports
        by U.S. steel producers, including LTV.  The Company's order booking
        rates remain at similar levels to the prior two years, but the third
        quarter product mix will reflect higher than normal low margin hot
        rolled shipments for the export market."
   

      

            Mr. Hoag went on to say:  "For domestic steel markets to improve
        during the second half of 1995, a combination of reduced imports, a
        reduction in customer inventories to more appropriate levels and a
        continuation of current steel consumption is required."
   

      

        Discontinued Operations
   


            On July 17, 1995, LTV announced that it entered into an
        agreement to sell its energy products segment, Continental Emsco
        Company.  Closing of the sale is expected to take place in August
        1995.  Mr. Hoag stated: "The sale of the energy products business
        will further enable LTV to concentrate on its profitable steel
        operations.  Our shareholders will benefit from the transaction as a
        portion of the proceeds will be used to further reduce our long-term
        obligations."  Continental Emsco is reflected as a discontinued
        operation in LTV's financial statements for all periods presented.
   

      

        Other Matters
   


            The Company is continuing a comprehensive review relating to the
        redesign of its business processes to strengthen customer focus and
        improve productivity.  As part of such effort, LTV recently reached
        a long-term agreement with a large technology consulting
        organization to manage LTV's information systems and data processing
        functions, effective mid-September 1995.  This long-term agreement
        is expected to increase LTV's overall competitiveness by enabling
        the Company to concentrate more of its resources on the core
        business, while reducing ongoing costs.  One-time transitional costs
        related to the agreement could approximate $6 million in the third
        quarter of 1995; however, this amount will be principally offset by
        a gain related to unclaimed bankruptcy distributions which is also
        expected to be recognized in the third quarter of 1995.  LTV expects
        that this multi-faceted business processes review will identify
        other current processes which can be improved to enhance customer
        service, and that the resulting process redesigns will lead to a
        reduction in the number of employees and a reduction of future
        ongoing expense levels.  Currently, LTV is unable to determine the
        amount and timing of potential future cost savings or other charges
        related to the effects of these various efforts.
   

      

        The LTV Corporation
        CONSOLIDATED STATEMENT OF INCOME
        (dollars in millions, except per share data)
         
                                  Three Months Ended     Six Months Ended
                                       June 30,              June 30,
                                   1995       1994        1995       1994
         
        Sales                   $ 1,113.2  $ 1,056.1   $ 2,198.1  $ 2,051.2
         
        Costs and expenses:
          Cost of products sold     919.5      897.1     1,832.3     1,779.6
          Depreciation and
            amortization             62.1       62.9       126.8      124.2
          Selling, general and
            administrative           35.6       34.9        69.2       67.5
          Net interest income        (9.2)      (1.7)      (17.5)      (1.4)
            Total                 1,008.0      993.2     2,010.8    1,969.9
         
          Income before income
            taxes and
            discontinued
            operations              105.2       62.9       187.3       81.3
         
        Income tax provision:
          Taxes payable
            (refundable)              0.9        1.5         1.1       (2.8)
          Taxes not payable
            in cash                  39.7       22.7        70.7       29.3
              Total                  40.6       24.2        71.8       26.5
         
        Income from continuing
          operations                 64.6       38.7       115.5       54.8
         
        Net loss from discontinued
          operations                 (9.0)      (1.2)       (8.7)      (2.0)
         
        Net income              $    55.6  $    37.5   $   106.8  $    52.8
         
        Earnings (loss) per share:
          Primary:
            Continuing
              operations        $    0.59  $    0.41   $    1.07  $    0.58
            Discontinued
              operations            (0.08)     (0.01)      (0.08)     (0.02)
                Net income      $    0.51  $    0.40   $    0.99  $    0.56
          Fully diluted:
            Continuing
              operations        $    0.58  $    0.40   $    1.04  $    0.58
            Discontinued
              operations            (0.08)     (0.01)      (0.08)     (0.02)
                Net income      $    0.50  $    0.39   $    0.96  $    0.56
         
        Average number of
          common shares used in
          per share
          calculation
          (thousands):
            Primary               108,245     94,544     108,242     94,582
            Fully diluted         113,375     99,673     113,373     99,711
         
        Raw steel production
          (millions of tons)        2.023      2.104       4.222      4.130
        Steel plant operating rate     98%       102%        103%       100%
        Steel shipments
          (millions of tons)        2.013      1.978       3.978      3.912
        Active employees              ---        ---      15,300     15,900
         
        The LTV Corporation
        CONDENSED CONSOLIDATED BALANCE SHEET
        (in millions)
         
                                                June 30,       December 31,
                                                  1995            1994
        ASSETS
        Current assets
          Cash and cash equivalents            $  285.0        $  335.4
          Marketable securities                   480.4           357.5
            Total                                 765.4           692.9
          Receivables                             414.3           464.5
          Inventories                             804.6           751.6
            Other                                  89.5           118.5
              Total                             2,073.8         2,027.5
        Investments and other noncurrent assets   293.4           308.6
        Property, plant and equipment           3,145.3         3,189.0
          Total                                $5,512.5        $5,525.1
         
        LIABILITIES AND SHAREHOLDERS' EQUITY
        Current liabilities
          Accounts payable                     $  255.1        $  267.2
          Other current liabilities               622.7           569.9
            Total                                 877.8           837.1
         
        Noncurrent liabilities
          Long-term debt                          186.7           183.1
          Postemployment health care
            and other insurance benefits        1,648.0         1,633.4
          Pension benefits                        951.8         1,138.7
          Other                                   419.1           450.0
        Shareholders' equity                    1,429.1         1,282.8
          Total                                $5,512.5        $5,525.1
         
        CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
        (in millions)
                                                    Six Months Ended
                                                         June 30,
                                                      1995      1994
        Operating activities
          Income from continuing operations         $ 115.5   $  54.8
          Adjustments to reconcile income from
            continuing operations to net cash
            provided by operating activities:
              Proceeds from antitrust litigation        ---     171.0
              Depreciation and amortization           126.8     124.2
              Income tax provision not payable
                in cash                                70.7      29.3
              Defined benefit pension expense          58.1      58.0
              Postemployment benefit payments
                less than expense                      14.6       2.9
              Other changes in assets
                and liabilities                       (18.6)    (10.4)
                  Net cash provided by
                    operating activities              367.1     429.8
        Investing activities
          Property additions                          (84.1)    (77.5)
          Net purchases of marketable securities     (122.9)   (353.4)
          Other                                       (17.6)      0.4
            Net cash used in investing activities    (224.6)   (430.5)
        Financing activities
          Pension funding to restored plans          (191.0)   (221.6)
          Other                                        (1.9)     (2.0)
            Net cash used in financing activities    (192.9)   (223.6)
        Net decrease in cash and cash equivalents   $ (50.4)  $(224.3)
         
        Net increase in cash, cash equivalents
          and marketable securities                 $  72.5   $ 129.1

        /CONTACT:  Mark R. Tomasch (media), 216-622-4635, or Eric W. Evans
        (analysts), 216-622-5680, both of LTV/