TCR_Public/950809.MBX

BANKRUPTCY CREDITORS' SERVICE, INC.






        THE MAY DEPARTMENT STORES COMPANY AND JCPENNEY CO. TO PURCHASE
        WANAMAKER AND WOODWARD & LOTHROP
   

      

            ST. LOUIS, Mo., and PLANO, Texas--Aug. 8, 1995--The May
        Department Stores Company (NYSE: MA) and J.C. Penney Company, Inc.
        (NYSE: JCP) today announced that they will acquire HREF="chap11.woodies.html">John Wanamaker and Woodward & Lothrop stores in the
Philadelphia, Washington and
        Baltimore market areas.  A revised May/JCPenney joint bid in the
        amount of $460 million of net distributable value to creditors was
        approved at a hearing today in the United States Bankruptcy Court of
        the Southern District of New York.  May and JCPenney also announced
        that they have executed the purchase agreement with Woodward &
        Lothrop and John Wanamaker.  In addition, May executed an agreement
        with the Center City landlord for Hecht's to operate in the Center
        City Wanamaker location in downtown Philadelphia.
   

      

            Under the joint bid, May will acquire 14 Wanamaker stores in the
        Philadelphia area and three Woodward & Lothrop stores in Washington,
        and JCPenney will acquire seven Woodward & Lothrop stores in the
        Washington/Baltimore area.   Other details of the bid remain the
        same as were announced on July 27, 1995.
   

      

            David C. Farrell, chairman and chief executive officer of The
        May Department Stores Company, said, "We are very pleased to bring
        Hecht's to the Philadelphia market and to strengthen both Hecht's
        and Lord & Taylor in the Washington market.  Hecht's and Lord &
        Taylor look forward to serving new customers in these markets."
   

      

            "JCPenney is gratified and excited to get greater access to this
        very important Baltimore/Washington market and to have an
        opportunity to serve customers there much more meaningfully and
        conveniently," said James E. Oesterreicher, vice chairman and chief
        executive officer of J.C. Penney Company, Inc., commenting on the
        results of the bidding process.  The court order will enable
        JCPenney to add seven new stores to its fourteen existing locations
        in the Baltimore/Washington area.
   

      

            May and JCPenney expect that the transaction will be completed
        late this month.
   

      

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


      


         

        UPDATE REGARDING MAY/PENNEY PURCHASE OF WOODWARD & LOTHROP
   

      

            WASHINGTON, DC--Aug. 8, 1995--Woodward &
Lothrop Incorporated and its John Wanamaker
, Philadelphia subsidiary
        confirmed that The Honorable Stuart M. Bernstein tonight signed the
        order approving May Department Stores Company and J.C. Penney
        Company, Inc. as the winning bidders for the purchase of the
        majority of the assets of Woodward & Lothrop.  Details of the bid
        were provided in an earlier announcement today.
   

      

        /CONTACT:  Rivian Bell or Sandra Sternberg of Sitrick And Company,
        212-755-2850 or 310-788-2850/
   


      


         

        MINI-MICRO SUPPLY COMPANY FILES FOR CHAPTER 11 AND HIRES HOULIHAN
        LOKEY TO ADVISE THE SALE OF THE COMPANY
   

      

            SAN JOSE, Calif.--Aug. 9, 1995--
Mini-Micro Supply Company Inc.
, a San Jose based distributor of personal computers
and peripherals, announced today that it has filed for protection under
        Chapter 11 of the U.S. Banktrupcy Code and is seeking bankruptcy
        court approval to engage the investment banking firm of Houlihan
        Lokey Howard & Zukin to identify and solicit potential acquirers for
        Mini-Micro Supply Company's business.
   

      

            Founded in 1983, the company's revenues have grown steadily to
        $139 million in 1994.  Unfortunately, due to the death of its
        founder and CEO, a substantial unreimbursed burglary loss at its San
        Jose facility, and problems associated with the collection of its
        Latin American accounts receivable after the closure of its Miami
        operations, Mini-Micro experienced severe cash flow disruption.
        "Although the company has recently experienced a cash flow shortage,
        it represents a strong opportunity for healthy companies wanting to
        expand their market and access new customers through strategic
        acquistion," said Houlihan Lokey Senior Vice President Andrew
        Miller.
   

      

            "The filing has stabilized our operating cash flow to the point
        that we have reasonable assurance of our go forward operation for a
        much longer period of time than we ever could have projected prior
        to the commencement of the case.  In short, we have successfully
        stabilized our finances to put them on an even operating keel," said
        Mini-Micro President Chuck Lejsek.
   

      

            With more than $100 billion of transaction experience in the
        past five years, Houlihan Lokey's clients range from small, closely
        held businesses to middle market companies, Fortune 100 corporations
        and Forbes 400 families, government agencies and municipalities.
        Since it was founded in 1970, the firm has served more than 5,000
        clients.
   

      

            With more than 200 employees and eight offices across North
        America, Houlihan Lokey offers corporate and public finance, mergers
        and acquisitions, financial restructuring, dispute analysis and
        litigation support, business and securities valuation solvency,
        fairness and ESOP opinions, estate and gift tax valuation and
        merchant banking services.
   

      

            As a national firm, Houlihan Lokey serves its clients from
        offices in Los Angeles, New York, Chicago, San Francisco,
        Minneapolis, Washington, D.C., Dallas and Toronto.
   

      

        /CONTACT:  Andrew B. Miller of Houlihan Lokey Howard & Zukin,
        310-788-5300/