TCR_Public/950802.MBX

BANKRUPTCY CREDITORS' SERVICE, INC.





         

        AMERICAN FILM TECHNOLOGIES RECEIVES $500,000 BRIDGE LOAN FUNDING AS
        FIRST STEP IN REORGANIZATION

         

            SAN DIEGO,--Aug. 1, 1995--American Film
Technologies Inc.(OTC: AFTC)
announced today the funding of a bridge loan to the
        company in the amount of $500,000.  The loan is the first step in
        the corporate reorganization of the company, which creates digital
        colorization of black and white films and television programs for
        use in broadcast television, cable and satellite television.

         

            American Film Technologies, which has been operating under
        Chapter 11 bankruptcy protection, has filed an Amended Plan of
        Reorganization and, subject to completion of its equity financing,
        expects to complete its reorganization by Sept. 30, 1995.

         

        /CONTACT:  Jerry Wetzler, Chairman/CEO of American Film
        Technologies, 212-751-7880/
        (AFTC)




         

        SPORTSTOWN ANNOUNCES APPROVAL FOR SALE OF 14 STORE LEASES

         

            ATLANTA,GA,--Aug. 1, 1995--SportsTown,
Inc. (SPTN)
announced today that the United States Bankruptcy Court for the
Northern District of Georgia has approved the sale of 14 of the Company's 23
        store leases in hearings held on July 27 and 28, 1995.  Pursuant to
        separate lease purchase agreements, SportsTown will sell 7 stores in
        Texas and Oklahoma to Oshman's Sporting Goods, Inc. and will sell 7
        stores in Georgia, North Carolina and South Carolina to The Sports
        Authority, Inc. Closings of the sales of leases to Oshman's Sporting
        Goods, Inc. and The Sports Authority, Inc. will occur as inventories
        are transferred from, or finally liquidated at, such stores.

         

           In connection with the sales of these 14 stores, the Bankruptcy
        Court also approved of the Company's liquidation of all existing
        inventory at all of its 23 stores.  "Going out of business" sales
        will be held at certain stores to liquidate all existing inventory.
        Inventory at stores where such sales will not be held will be
        transferred to stores where "going out of business" sales will be
        held.  The offers made by Oshman's Sporting Goods, Inc. and The
        Sports Authority, Inc. were linked to the liquidation of inventory
        with respect to the region where the leases were acquired by each
        purchaser.  Accordingly, with respect to the Texas and Oklahoma
        region, the Company has retained Gordon Brothers Partners, Inc. and
        Hilco Trading Company/Garcel, Inc. d/b/a Great American Asset
        Management to act as its agent conducting the liquidation of the
        existing inventory, and with respect to the Virginia, Atlanta and
        Carolina region, Nassi Bernstein, Inc., Alco Capital Corporation and
        Jubilee Limited Partnership will act as the Company's agents in
        conducting that liquidation.

         

            The Company will seek buyers for the 9 stores that are not
        subject to lease purchase agreements, and any such sale will be
        subject to the approval of the Bankruptcy Court.

         

            In addition, the Company announced that on July 31, 1995 it
        filed with the Bankruptcy Court a Plan of Reorganization that
        contemplates the use of the proceeds of the lease sales and the
        inventory liquidation to pay creditors of the Company.  The Plan of
        Reorganization also contemplates that holders of the Company's
        common stock will receive no distribution of cash, securities or
        otherwise in the reorganization proceeding.

         

        /CONTACT: Thomas K. Haas, Chairman and Ceo or Clyde Fossum, Chief
        Financial Officer, 404-246-5300, both of SportsTown, Inc./

         



        COLUMBIA GAS TRANSMISSION FILES GENERAL RATE CASE

         

            CHARLESTON, W.Va.,--Aug. 1, 1995--
Columbia Gas Transmission Corp.,
the principal pipeline subsidiary of The
        Columbia Gas System, Inc. (NYSE: CG), today filed a general rate
        case with the Federal Energy Regulatory Commission that will produce
        additional annual revenue of approximately $150 million.

         

            The new rates are expected to become effective, subject to
        refund, Feb. 1, 1996.  The company's filing proposes a 14.5 percent
        rate of return on equity.

         

            The increase would be partially offset later in 1996 upon
        expiration of $90 million in annual surcharges being collected in
        current rates to reimburse the company for restructuring and other
        costs being paid to upstream pipelines under FERC Order 636.

         

            Columbia Transmission's Chairman, James P. Holland, said that
        even with the filing, rates would remain competitive for the wide
        array of firm and interruptible transportation and storage services
        Columbia Transmission provides local distribution companies, end
        users, and other customers throughout its 14-state market area.

         

            Holland said the new rates reflect increased construction,
        operating and maintenance costs incurred since the company's last
        rate case was filed in 1991.  The filing does not include any costs
        associated with the company's Chapter 11 bankruptcy proceeding.

         

            "The rate filing is necessary to reflect Columbia Transmission's
        ongoing cost of providing reliable service to its customers,
        including a reasonable return on its investment," Holland said.
        "While rate filings by their nature initiate a formal regulatory
        process, our goal is to work with our customers and other interested
        parties to resolve the proceeding in a consensual, business-like
        manner."

         

            In the filing, the company proposes to recover over a five-year
        amortization period its approximately $60 million investment in
        Appalachian area gathering and products extraction facilities. The
        proceeds of any future sales or transfers of these facilities will
        be credited against such recoveries.

         

            The facilities are being treated as stranded costs under the
        FERC's Order No. 636.  That order transformed pipelines from
        merchants of natural gas to providers of transportation services and
        required the unbundling of services such as gathering.

         

           The company said its proposal is generally consistent with
        recent FERC guidelines regarding the treatment of gathering
        facilities by Appalachian area pipelines.

         

            The filing also includes a proposal for implementing market-
        based pricing for interruptible capacity and short-term firm
        capacity offered by Columbia Transmission and temporarily released
        capacity offered by its customers.  Market-based pricing would
        permit shippers to bid for available capacity without the rate caps
        that now exist.  The bidding procedure will help allocate capacity
        to shippers who value it the most, an objective supported by the
        FERC.

         

            The company supports the FERC's development of a new incentive-
        based rate policy and leaves the door open to pursue incentive rates
        in the future.

         

            In addition, the filing provides greater flexibility for firm
        storage customers by allowing them to have more gas in storage as of
        Feb. 1 each year for use if severe cold weather develops late in the
        heating season.

         

            Columbia Transmission operates a 19,000-mile interstate natural
        gas pipeline network and one of the nation's largest underground
        natural gas storage operations.  The company delivers more than a
        trillion cubic feet of gas annually.

         

            Columbia Transmission and its parent have been operating as
        debtors- in-possession since seeking Chapter 11 bankruptcy
        protection on July 31, 1991.  Both have filed reorganization plans
        with the Bankruptcy Court and expect to emerge from Chapter 11 by
        the end of 1995.

         

        /CONTACT:  News Media, D.R. Dodrill, 304-357-2257, or
        E.K. Merritt, 304-357-2283; Switchboard, 304-357-2000; or Analysts,
        T.L. Hughes, 302-429-5363, or K.P. Murphy, 302-429-5471, all of
        Columbia
        Gas/
        (CG)