TCR_Public/950817.MBX

BANKRUPTCY CREDITORS' SERVICE, INC.






        SLM INTERNATIONAL DELAYS FILING OF SECOND QUARTER 10-Q  
   

      

            NEW YORK, NY--August 17, 1995--SLM International
        Inc.  (Electronic Bulletin Board: "SLMI") announced today that it
        has delayed filing its Form 10-Q with the Securities and Exchange
        Commission to allow additional time for completion of its financial
        statements for the second quarter ended July, 1 1995.  The Company
        currently expects to file the Form 10-Q on or about August 21, 1995.
        Based on information currently available from its ongoing review,
        the Company expects to report a loss from continuing operations
        approximating $20 million for the six months ended July 1, 1995.   
   

      

            This loss includes unfavorable impacts of $7 million for the
        settlement of environmental litigation and $7 million of
        professional fees and higher interest costs related to defaults with
        its lenders. Excluding such items, the Company's six month loss from
        continuing operations, which consists primarily of the Company's
        sporting goods business, would be approximately $6 million.  The
        1995 loss from continuing operations also reflects the adverse
        impact of the hockey and baseball strikes.  For the six months ended
        July 2, 1994, the Company reported income from continuing operations
        of $0.9 million, or $0.05 per share, and net sales from continuing
        operations of $70.2 million.   
   

      

            The 1995 six month net loss is expected to exceed $45 million,
        reflecting the loss from continuing operations and a loss from
        discontinued operations as a result of the completion of the sale of
        the Company's discontinued Buddy L toy and
fitness businesses out of
        bankruptcy in early July 1995.  It must be emphasized that the 1995
        results are preliminary estimates based on internal review and are
        subject to change as additional information becomes available, and
        following analysis and input from the Company's independent
        accountants, Coopers & Lybrand.  The net loss for the 1994 period
        was $4.8 million, or $0.25 per share.   
   

      

            The Company's loss for the six months ended July 1, 1995
        includes an expense of $7 million relating to the settlement of an
        environmental lawsuit brought in Vermont Superior Court by the owner
        of a property adjacent to the Company's manufacturing facility in
        Bradford, Vermont.  The Company has paid $1 million in cash to the
        property owner and has agreed to deliver its $6 million Term Note
        due June 28, 2000, bearing interest at 10% per annum, with principal
        amortization on a 20 year schedule.   
   

      

            Howard Zunenshine, Chief Executive Officer of SLM International,
        Inc., stated, "The sale of our Buddy L toy and fitness business
        allows us to focus all of our energy and resources exclusively on
        our core sporting goods business.  The past year has been a
        difficult time for the Company, but given the cash flow problems we
        have experienced since late last year, our operating results are
        encouraging.  Our brand is strong and our employees are dedicated to
        facing the challenges ahead and helping us to take advantage of the
        opportunities in the marketplace.  In addition, we believe that the
        previously announced Standstill Agreement with our lenders and the
        retention of Bear Stearns & Co.  Inc to assist us in exploring a
        wide variety of possible financial transactions, including
        refinancing outstanding debt and obtaining additional equity
        capital, are very positive steps in enabling us to achieve our
        strategic goals."   
   

      

            SLM International, Inc.  designs, develops, manufactures and
        markets a broad range of sporting goods on a worldwide basis.   
   

      

        CONTACT: SLM International, Inc.
                 Howard Zunenshine, (514)331-5150
                 John A. Sarto, (212)675-0070
                               or  
                IR CONTACT: David Walke/June Filingeri/Melissa Garelick     
         
                PRESS: Lisa Bradlow
                Morgen-Walke Associates
                (212)850-5600

         


          

        Boca Research Inc. makes announcement
   

      

            BOCA RATON, Fla.--Aug. 17, 1995--Anthony F.
        Zalenski, chief executive officer of Boca Research Inc.
        (NASDAQ:BOCI) stated Thursday that he was surprised to learn that
        Dennis Hayes has been seeking alternatives to bring HREF="chap11.hayes.html">Hayes Microcomputer Products Inc. out of Chapter 11,
including seeking investors.   
   

      

            Zalenski indicated that Boca is nevertheless continuing to
        conduct due diligence, pursue financing sources and otherwise take
        steps toward acquiring Hayes.   
   

      
         
        CONTACT:  Boca Research Inc., Boca Raton
                  Gale A. Blackburn, 407/997-8621, ext. 305
                                     407/994-5848 (fax)

         


          

        EPE ANNOUNCES 1995 SECOND QUARTER RESULTS
   

      

            EL PASO, Texas--Aug. 17, 1995--El Paso
Electric Company
("EPE"  or the "Company") reported a net loss of $9.6
        million (or $.27 per common share) for the quarter ended June 30,
        1995.  This compared to a net loss of $7.2 million (or $.20 per
        common share) for the same period in 1994.  The net loss for the six
        months ended June 30, 1995, of $26.1 million (or $.73 per common
        share) compared to a net loss reported for the 1994 six-month period
        of $20.4 million (or $.57 per common share).  The loss for the three
        and six months ended June 30, 1995, resulted primarily because
        revenues were not sufficient to cover the Company's operating and
        reorganization expenses and interest charges.  Until EPE emerges
        from bankruptcy, results from operations are not expected to be
        better than the historical results the Company has reported while in
        bankruptcy.   
   

      

            Operating revenues decreased 9.9 percent and 10.2 percent for
        the three and six months ended June 30, 1995, compared to the same
        periods in 1994, primarily due to lower fuel and purchased power
        costs which are generally billed directly to customers.  Base
        revenues were also lower due to reduced sales to a major wholesale
        customer and lower sales this year compared to 1994 when the weather
        was warmer than usual.  Interest costs were higher in 1995 due
        primarily to increased interest rates which more than offset the
        Company's discontinuance of interest accruals on unsecured debt when
        EPE's proposed merger with Central and South West Corporation
        ("CSW") was terminated by CSW on June 9, 1995.  On July 16, 1994,
        the Company implemented an increase in Texas base rates of
        approximately $25 million, under bond and subject to refund;
        however, EPE has deferred recognition of the additional revenue
        pending a final order of the Public Utility Commission of Texas
        ("PUCT") in Docket 12700, the Company's current rate filing.   
   

      

            As previously announced, subject to both approval by the PUCT
        and an effective plan of reorganization, the Company has an
        agreement with the City of El Paso and essentially all other parties
        to Docket 12700 which would provide for a continuation of the July
        16, 1994, increase, freeze base rates in Texas at that level for 10
        years, allow the Company to keep all base revenues collected under
        bond since July 16, 1994, and resolve certain fuel matters.  If the
        rate agreement had become effective on Jan.  1, 1995, reported
        operating revenues would have increased approximately $9.4 million
        and $18 million for the three and six month periods, respectively.
        The PUCT is scheduled to consider the proposed rate agreement on
        Aug.  30, 1995.   
   

      

            The proposed rate agreement in Texas will result in an overall
        bankruptcy estate value which is substantially less than that
        contemplated in the plan of reorganization terminated by CSW, and
        will therefore result in substantially reduced recoveries for
        unsecured creditors and equity holders.  A new plan of
        reorganization will probably result in unsecured creditors owning a
        substantial majority of the equity in the reorganized Company upon
        the Company's emergence from bankruptcy.   
   

      

            The Company filed a voluntary petition under Chapter 11 of the
        United States Bankruptcy Code on Jan.  8, 1992.  EPE is an electric
        utility serving approximately 271,000 customers in El Paso, Texas,
        and an area of the Rio Grande Valley in West Texas and Southern New
        Mexico, and wholesale customers located in such diverse locations as
        Southern California and Mexico.  The Company achieved a new record
        system peak demand of 1,374 MW (megawatts) on Aug.  9, 1995, which
        was a 0.6 percent increase over 1994's record system peak of 1,365
        MW.   
   

      

            El Paso Electric Company's results of operations for the three
        and six months ended June 30, 1995 and 1994 are as follows (in
        thousands except share data):  
   

      

                                                  Three Months Ended
                                              --------------------------
                                                6/30/95        6/30/94
                                              -----------    -----------
         
        Operating revenues                    $   124,683    $   138,447
        Operating expenses                       (106,832)      (120,698)  
        Interest charges                          (24,602)       (23,019)  
        Loss before reorganization items           (7,130)        (5,044)  
        Reorganization items (expense),
          net of tax                               (2,472)        (2,128)  
        Net loss                                   (9,602)        (7,172)
                                                   
        Weighted average number
          of common shares outstanding          35,544,330     35,544,330
                                                   
        Net loss per weighted average
          share of common stock                $     (0.27)   $     (0.20)
                                                   
         
                                                  Six Months Ended
                                              --------------------------
                                                6/30/95        6/30/94
                                              -----------    -----------
         
        Operating revenues                    $  237,072    $   263,923
        Operating expenses                      (207,271)      (234,771)  
        Interest charges                         (51,100)       (44,626)  
        Loss before reorganization items         (21,579)       (15,743)  
        Reorganization items (expense),
          net of tax                              (4,471)
        (4,618)  
        Net loss                                 (26,050)
        (20,361)
         
                                                   
        Weighted average number
          of common shares outstanding         35,544,330     35,544,330
                                                   
        Net loss per weighted average
                  share of common stock        $    (0.73)   $     (0.57)
                                                   

        CONTACT:  El Paso Electric Company, El Paso  
                  Alan Lee Bunnell, corporate spokesperson for EPE,  
                   915/543-5823; (National and Regional Media)
                                 or  
                  Henry Quintana Jr., supervisor of corporate  
                   communications, 915/543-5824 (Local Media)  
                                 or  
                  John Droubay, EPE treasurer, 915/543-5710  
                    (Financial Analysts)  
                                 or  
                  EPE's Office of the Secretary, 1-800/592-1634 or
                   1-800/351-1621 (Stockbrokers and Shareholders)