TCR_Public/950731.MBX

BANKRUPTCY CREDITORS' SERVICE, INC.






        OSHMAN'S SPORTING GOODS, INC. ANNOUNCES
        PURCHASE OF SEVEN SPORTSTOWN, INC. MEGASTORES  

         

            HOUSTON, Texas--July 28, 1995--Oshman's Sporting
        Goods, Inc. (AMEX:OSH), today announced that it had been approved as
        the successful bidder for seven Sportstown,
Inc.
megastores by the United States Bankruptcy Court in Atlanta, Georgia.  The
purchase will be made pursuant to a Leasehold Purchase Agreement to be
        entered into between Oshman's and Sportstown, Inc.   

         

            The transaction fits Oshman's expansion strategy of accelerating
        its growth through increasing the number of its sports megastores.
        Six of the stores are located in the Dallas - Ft. Worth, Texas
        metroplex and one store is located in Tulsa, Oklahoma.  Oshman's
        currently operated stores in both of these areas and anticipates
        that the acquired stores will be in operation under the Oshman's
        "Super Sports"  name by November 1, 1995, after the liquidation of
        the existing inventory is completed and the stores are supplied with
        fresh merchandise.  The existing inventory will be liquidated by
        Gordon Brothers Partners, Inc.  and Hilco/Great American Group,
        acting as agents for Sportstown, Inc.   

         

            Oshman's operates 130 sporting goods specialty stores, including
        13 megastores, in 15 states, offering high quality name brand and
        private label equipment and sportswear.  The Company's SuperSports
        USA megastores utilize interactive merchandising by offering sports
        test-play areas including basketball courts, batting cages, golf
        simulators, tennis courts and boxing rings.   

         
        CONTACT: Investor Contact: Alvin N. Lubetkin

                                   Chief Executive Officer
                                   713/967-8200
                                     or
                                    Robert Jones/Christine DiSanto/
                                    Caroline Babbitt
                                    Morgen-Walke Associates
                                    212/850-5600
                                     or
                                    Media Contact:Stacy Berns
                                    Morgen-Walke Associates
                                    212/850-5600
   



         

        PEPROTECH FILES CHAPTER 11 BANKRUPTCY PETITION

         

            PINE BROOK, N.J.,--July 28, 1995--Cistron Biotechnology,
        Inc. stated that it has been notified that
PeproTech, Inc.
(Rocky Hill, N.J.) filed a voluntary petition under Chapter
11 of the Bankruptcy Code on July 19, 1995.  PeproTech's petition indicated
        assets of $1.6 million and liabilities of $2.7 million.

         

            Cistron Biotechnology, Inc. and the Boston-area institutions
        that are Cistron's licensors were plaintiffs in a patent
        infringement suit against PeproTech which resulted in an October
        1994 judgment of $2.7 million in damages.  The plaintiffs are named
        as PeproTech's largest creditors.

         

            Earlier this month, the U.S. District Court, district of New
        Jersey, denied both PeproTech's motion to stay execution of the
        judgment pending appeal as well as Cistron and the Boston
        institutions' motion to include PeproTech's president as a
        defendant.  On July 18, 1995, PeproTech filed a Second Amended
        Notice of Appeal from the infringement decision and damages award.

         

           Cistron, together with the other plaintiffs, had commenced
        damages collection procedures just prior to PeproTech's bankruptcy
        filing. Further collection efforts have been halted, pending
        resolution by the bankruptcy court.

         

        /CONTACT:  Bruce C. Galton, president of Cistron Biotechnology,
        Inc., 201-575-1700/




         

        Wyatt's Cafeterias files Chapter 11 reorganization plan

         

        The Company will Emerge as a Radically New Food Service Company
        -- Triangle FoodService Corporation

         

            DALLAS, Texas--July 28, 1995--Wyatt's Cafeterias,
        recently renamed Triangle FoodService
Corporation
, has filed a plan for reorganization with the bankruptcy court.   

         

            Only 34 days earlier, Triangle FoodService had filed for
        bankruptcy protection under Chapter 11 of the Federal Bankruptcy
        Code.  Joe Colonnetta, CEO of Triangle FoodService Corporation,
        said, "What made this 65-year-old company a once great cafeteria
        chain had been lost forever by the time we took control of the Board
        last June.

         

            "Our mission was not to restore it to its previous stature, but
        to find the remaining core value which could be revitalized into a
        viable and competitive company.  In order to continue to revitalize
        the core business of Wyatt's, we needed to restructure the capital
        base of the company.   

         

            "We are pleased to submit a plan which offers a more secure
        future for the hundreds of people employed by Wyatt's and which
        deals fairly with all the company's constituents."   

         

            The major thrust of the plan is to exchange the debt held by
        secured creditors for equity in the new Triangle FoodService
        Corporation.  This reorganization will enable Triangle FoodService
        to move forward with the revitalization strategy the company began
        in January 1995.   

         

        Wyatt's Faced Considerable Challenges When New Management Took Over

         

            Colonnetta and his associate, Malcolm McArdle, Triangle's
        current chairman, took control of the Wyatt's Board of Directors
        June 13, 1994.  Once Wyatt's was stabilized, Wyatt's institutional
        owners recruited Colonnetta as president of the company in the fall
        of 1994 with the mandate of trying to rebuild a company which was in
        desperate trouble.   
   

      

            Colonnetta has a positive track record in advising troubled
        restaurant boards and participating in restaurant turnarounds,
        including the 700-unit Friendly's and the 450-unit Perkins Family
        Restaurants.   

         

            Colonnetta recalls that when his team arrived at Wyatt's they
        immediately faced the challenge of making $1.2 million payroll with
        virtually no money in the bank.  "Wyatt's was a company in dire
        straits when we were brought in," he noted.   

         

            "A good part of Wyatt's demise had to do with the company's
        failure to deliver a quality dining experience to customers," added
        Colonnetta.  "Over the years they created a very disrespectful
        environment for customers with discourteous service.  As a food
        professional, that's a crime.  It's a good way to run yourself out
        of business," Colonnetta explained.   

         

            "We quickly formulated and launched an aggressive revitalization
        strategy in January 1995," Colonnetta said.  "The focus of our
        strategy is to save as many jobs as possible while identifying and
        improving the core assets of the company.   

         

            "While working on a plan to reorganize the company, it became
        necessary that we file for bankruptcy to gain the time and financial
        relief required to give the company a chance at a turnaround,"
        Colonnetta added.   

         

        Management Accomplishments Have Already Added Significant Value
        to the Company

         

            According to Colonnetta, the company was able to file its
        reorganization plan in an unprecedented 34 days because the new
        management's turnaround work on the company had begun many months
        before the filing.   

         

            Prior to its Chapter 11 filing, Wyatt's had completed
        comprehensive revitalization of four cafeterias in Dallas and
        Houston.   

         

            Believing strongly that urban settings can offer excellent
        turnaround potential, the company implemented its three-pronged
        revitalization plan which includes sharpening the focus on quality
        and service, remodeling the facility, improving food products and
        adding new dishes such as chicken parmigiano, steak italiano and
        sauteed spinach.   

         

            After being revitalized, these cafeterias are registering
        significant sales improvements.  Four additional cafeterias are
        currently being revitalized.  Former Governor Mark White, former
        Mayor Steve Bartlett, Mayor Ron Kirk, Dallas County Judge Lee
        Jackson along with a host of other dignitaries attended the opening
        of a revitalized Wyatt's in inner city Dallas.   

         

            White said the revitalized cafeterias help bring the community
        closer together.  "It's a place for people with all different
        backgrounds," White explained.  "You see one of the biggest car
        dealers at a table next to someone who probably has difficulty
        buying a car.   

         

            "This reinvestment in inner cities is wonderful for the
        communities and this new management team of Triangle FoodService is
        doing it all," White continued.   

         

            Already Triangle FoodService has streamlined its operations from
        61 Wyatt's Cafeterias at the beginning of 1995 to its current 41
        cafeterias by closing units which have long been unprofitable.  As
        further evidence that the company's turnaround strategy is working,
        cash flow during June for the 41 Wyatt's units was $1 million more
        than the cash flow for 70 units during the same month in 1994.   

         

            "This additional cash flow provided us both the means to pay for
        additional remodeling as well as operate only those units where we
        can deliver a quality dining experience," noted Colonnetta.   

         

            Additional value added to Triangle FoodService as part of
        management's strategy includes securing licensing and developing
        concepts which can serve as future growth vehicles for the company.
        The company obtained a licensing agreement with Bishop's Cafeteria &
        Bakery and is currently constructing its first unit in College
        Station.   

         

            Wyatt's Express, a new takeout division of Triangle FoodService
        and an additional avenue of growth in universities, malls, etc., is
        proving popular with customers and has the potential to become the
        "Boston Market of the inner city," according to Colonnetta.   

        

            In a Dallas Business Journal article on May 12, 1995, Wallace
        Swanson, chairman and CEO of Highland Park Cafeterias, said
        Colonnetta's ideas will benefit everyone involved in cafeteria
        concepts.  "He doesn't follow conventional thought processes,"
        Swanson said.  "If anybody can bring new insights to the cafeteria
        industry, I would like to think it would be him."   

         

            Colonnetta and his management team also have struck new
        relationships and expanded the potential for Triangle FoodService in
        procurement and product development.  StarMark Foods Division of
        Triangle FoodService has been revived to gain product consistency
        and labor savings though product innovation.   

         

            Already, StarMark has formed relationships with foodservice
        leaders such as Basic American and Fortune Foods.  Wayne Barnes of
        Basic American Foods said, "This new management team is really
        leading the foodservice industry in utilizing new food technology
        for the benefit of its customers."   

         

            Another strategic relationship Colonnetta has led Wyatt's to
        form an aggressive partnership with McLane/Foodservice, a subsidiary
        of Wal-Mart Stores, Inc.   

         

            "This is an exciting time for Wyatt's Cafeterias and McLane is
        proud to be part of it," said Drayton McLane, president/chief
        executive officer of McLane Group, one of three vice chairman of Wal-
        Mart Stores, Inc. and owner of the Houston Astros.  "Our experience
        and commitment to customer service will enable us to support Wyatt's
        as it begins a new chapter in its history.   

         

            "While Wyatt's has significant challenges ahead, its only hope
        of survival was finding a leader such as Colonnetta with both the
        vision and strategy for a successful turnaround, plus the courage to
        execute the strategy."   

         

        Most Important Change at Wyatt's is Strong Field Operations

         

            Without a doubt, the greatest value Colonnetta's team has
        created for the Wyatt's division is the legacy of a highly skilled
        and motivated field operations team.  "This new operations team is
        the commando squad which has been deployed to move Wyatt's
        Cafeterias from the '60s to the '90s.   

         

            "The first promise I made to our shareholders was to recruit the
        most aggressive and talented operators in the industry," stated
        Colonnetta.  Colonnetta initially served as vice president-
        operations, as well as president, because he wanted to make sure
        corporate strategy was clearly understood in the field.   

         

            The company has recruited more than 125 new managers in just
        over six months, many of them coming from such respected
        organizations as PepsiCo, Brinker, Cracker Barrel, Black-eyed Pea,
        Boston Market and Metromedia.   

         

            For its operations leader, Triangle selected Bob Whan as its new
        vice president of operations.  Whan, whom Colonnetta brought in this
        spring, has 20 years of experience with foodservice companies
        including Black-eyed Pea and PepsiCo.  "I have never seen such
        expertise and resources mobilized so quickly and successfully in
       rebuilding a company from the ground up.   

         

            "It was as if we started a fully operational company overnight,
        staffed with some of the finest turnaround talent in the restaurant
        industry," said Whan.   

         

            Whan's new managers are equally excited about the turnaround
        they're creating.  "Like many of the other new managers, I joined
        Triangle FoodService because I believe in the vision of our
        leadership and wanted to be a part of a dramatic turnaround of a
        company that was in a lot of trouble.   

         

            "Now, I'm very excited about the impact of changes we're making
        and am positive about our company's future," said Charles Hendrix,
        general manager of the remodeled Wyatt's Cafeteria and Wyatt's
        Express in Wynnewood Village in Dallas, formerly with PepsiCo.   

         

            Underlining the importance of Triangle's field team, Colonnetta
        summarized, "If we fail, I'll take 100 percent of the blame.  If we
        succeed, give me 5 percent of the credit and the remaining 95
        percent to the field."   

         

        The Company and its Employees Look Forward to a Brighter Future

         

            Colonnetta said, "As a result of extreme competition in the
        foodservice industry coupled with the fact that many cafeteria
        operators have not kept up with the times, there are 25 percent
        fewer cafeterias across the industry today than there were five
        years ago. And not all of today's cafeteria operators will be around
        in five more years."   

         

            He added, "We have made hard decisions and taken dramatic
        actions to make sure the new Triangle FoodService Corporation will
        not only survive, but will have the potential to emerge as one of
        the cafeteria segment leaders in the foodservice industry."   

         

            When apprised of Wyatt's decision to reorganize and seek Chapter
        11 protection, Jack Evans (Dallas businessman, former mayor) said,
        "I've watched the company struggle over the years and am glad
        somebody has come in who's very committed to the company and wants
        to turn it around."   

         

            Allan Hickok, restaurant industry analyst with Piper Jaffray in
        Minneapolis, noted, "It's rare that such a focused management team
        has attacked a troubled situation with such a clear understanding of
        the issues ad solutions in turning a chain around."   

         

            Triangle FoodService Corporation is a privately held company
        founded in 1931 which today operates 41 cafeterias in five states
        with most of its units concentrated in Texas.   

         
        CONTACT:  C. Pharr & Company

                  Cynthia Pharr, 214/243-0644   
                     or
                  Triangle FoodService Corp.
                  Jennifer Maloney, 214/349-0060



        UDC ANNOUNCES WITHDRAWAL OF INTEREST BY PULTE CORPORATION  

         

            TEMPE, Ariz.--July 31, 1995--UDC Homes,
Inc.
announced today that it was notified on July 29, 1995 by Pulte
        Corporation ("Pulte") that Pulte does not currently intend to
        present a proposal for a change of control transaction that would be
        the basis for a plan of reorganization for UDC.  On July 7, 1995,
        Pulte had indicated an interest in presenting such a proposal to
        UDC.   

         

            On May 16, 1995, UDC entered into a Stock Purchase Agreement
        (the "DMB Stock Purchase Agreement") with DMB Property Ventures
        Limited Partnership ("DMB"), a Phoenix based real estate investment
        and development company, pursuant to which DMB would acquire all of
        the equity of reorganized UDC, subject to certain terms and
        conditions provided therein.  On May 17, 1995, UDC filed a petition
        for relief under Chapter 11 of the Bankruptcy Code with the United
        States Bankruptcy Court for the District of Delaware and
        subsequently, on July 6, 1995, filed its first amended plan of
        reorganization, pursuant to which DMB would acquire all of the
        equity of reorganized UDC in accordance with the terms and
        conditions of the DMB Stock Purchase Agreement.  A hearing on the
        disclosure statement relating to the reorganization plan is set for
        August 3, 1995.  Votes on the reorganization plan cannot be
        solicited unless and until the disclosure statement is approved by
        the Bankruptcy Court and transmitted to creditors.   

         

        CONTACT:  ARTHUR SCHMIDT & ASSOCIATES, INC.
                  212/953-5555