TCR_Public/950908.MBX BANKRUPTCY CREDITORS' SERVICE, INC.




UDC HOMES ANNOUNCES AGREEMENT IN PRINCIPLE TO SELL
        CHARLOTTE DIVISION TO SHEA HOMES/SOUTHEAST DIVISION

        
         
            TEMPE, Arizona -- Sept.  6, 1995 -- href="chap11.udc.html">UDC Homes, Inc.
        announced that it has agreed in principle to sell UDC's Charlotte
        Division to Shea Homes/Southeast Division.  UDC's Charlotte Division
        consists of over 600 home sites in such communities as Thornhill,
        Providence Arbours and Cameron Wood.  Homes under construction are
        not a part of the agreement.  However, model homes at some of the
        developments may be included in the purchase.  
        


            Shea Homes/Southeast Division, a division of Shea Homes
        (headquarters are in Southern California), entered the Charlotte
        market in July 1994.  Named California Builder of the Year, the
        company built over 2,300 homes in California and Phoenix in 1994,
        and was ranked 24th in the nation based on housing starts and 15th
        in the nation based on revenues.  
        


            When asked about the sale, John F. Shea, Jr., one of the
        division's principals stated, "We want to establish a stronger
        foothold in Charlotte as we've realized that consumer demand for
        quality homes in desirable areas is even greater than we had
        projected."
        


            UDC is currently a debtor in possession pursuant to the
        provisions of Chapter 11 of the Bankruptcy Code in a bankruptcy case
        pending before the United States Bankruptcy Court for the District
        of Delaware.  A confirmation hearing on UDC's plan of reorganization
        is scheduled for October 2, 1995 and UDC hopes to emerge form
        bankruptcy shortly thereafter.  
        


         CONTACT: John F. Shea,
                  Edmund H. Shea, III,
                  Shea Homes/Southeast Division,
                  (704) 523-9130
        




Fingermatrix completes $2 million
financing

        
            DOBBS FERRY, New York -- Sept. 8,
1995 -- Fingermatrix
        Inc.
(NASDAQ EBB:FINX), inventors of electronic fingerprinting
        technology, Friday announced it has entered into a stock purchase
        agreement under which an international financial concern based in
        the Far East will make an equity investment of $2 million in the
        company over the next 12 months.
        


            Thomas T. Harding, president and chief executive officer, said
        under the terms of the agreement the investor group will purchase 2
        million shares of Fingermatrix by the end of the one-year period.
        Five hundred thousand shares were purchased on Sept. 6 to be
        followed by a similar number Oct. 1.  Further details of the
        transaction were not disclosed.
        


            Fingermatrix, a leading developer of electronic fingerprinting
        equipment with numerous patents in the field, is operating under a
        new stockholder-sponsored management.  This team last April took the
        company out of Chapter 11 bankruptcy which the previous management
        had filed voluntarily in September 1993.
        


            "This investment will fulfill our capital requirements over the
        next year and accelerate the company's already rapid recovery,"
        Harding commented.
        


            He said management's first greatly upgraded system, a single-
        finger live scanner based on its latest patented technology, is now
        being evaluated by eight major corporations.  Two other advanced
        systems will be introduced before the end of this year, he added.
        


        CONTACT:  Molesworth Associates Inc.,
                  Gordon Molesworth, 520/625-0035
        



        

Family Bargain Agrees To
Drop
        Weinstein Litigation; $600,000 In Net Proceeds To The Company

        
            NEW YORK, New York -- Sept. 8, 1995 -- FAMILY
BARGAIN
        CORPORATION (Nasdaq Symbol: FBAR, Nasdaq Preferred Symbol: FBARP)
        today announced that it has agreed to settle the Weinstein
        litigation.  Pursuant to the settlement, the Company will receive
        approximately $600,000 as its share of the settlement and recovery
        expenses.  
        


            In connection with the reorganization plan of href="chap11.general.textiles.html">General Textiles
        (the Company's operating subsidiary), the Company agreed to pursue
        litigation against the former shareholders of General Textiles
        (Norman Weinstein, et. al.) who sold their stock in connection with
        a 1989 leveraged acquisition (the Company acquired General Textiles
        in 1992 while General Textiles was operating under chapter 11
        protection).  The lawsuit alleged that the 1989 leveraged
        acquisition rendered General Textiles insolvent and that certain
        payments to the former shareholders constituted fraudulent transfers
        and sought to recover such payments.  The parties to the lawsuit
        have agreed to enter into a settlement agreement pursuant to which
        none of the parties admits any wrongdoing.  

        
            Based on the settlement agreement, the Company will receive $1.3
        million.  After deducting the $400,000 in expenses incurred by the
        company in relation to the litigation, the Company will distribute
        approximately $700,000 to certain subordinated noteholders of
        General Textiles in accordance with the plan of reorganization and
        will retain the remaining $200,000.  Therefore, the net proceeds to
        the Company from the settlement will be $600,000.  The Company
        expects to receive the settlement funds in November.  
   

     
            FAMILY BARGAIN CORPORATION, through its subsidiary General
        Textiles, operates 102 `Family Bargain Center' off-price apparel
        retail stores which sell primarily first quality clothing for men,
        women and children at prices which generally are significantly lower
        than the prices offered by its competitors.  Stores are located in
        California, Arizona, New Mexico, Washington, Nevada and Oregon.  
      

  


        CONTACT: Company Contact:              Investor Relations Contact:
                 John A. Selzer       or       John Nesbett, ext. 101
                 Chief Executive Officer       Jason Thompson, ext. 124
                 212-980-9670                  212-838-3777




Best Products reports second quarter results

        
            RICHMOND, Virginia -- September 8, 1995 -- href="chap11.best.html">Best Products
        Co., Inc.
(NASDAQ: BEST) today reported its 1995 second
quarter net
        sales and operating results.  
        


            Second quarter net sales for the 13 weeks ended July 29, 1995
        decreased 0.1% to $311.8 million compared to $312.2 million for the
        same period in the prior year.  Comparable store net sales decreased
        4.7% during the same period.  Earnings (loss) before interest,
        income taxes, depreciation and amortization ("EBITDA") was a loss of
        $4.2 million for the second quarter of 1995 compared to earnings of
        $4.2 million for the second quarter of 1994.  The company reported a
        net loss of 23 cents a share for the second quarter of 1995 compared
        to a pro forma net loss of 5 cents a share for the same period in
        1994.  The company historically reports losses during the second
        quarter of the year.  
        


            Gross margin during the second quarter of 1995 was $74.5 million
        compared to $76.8 million for the same period in the prior year.
        Second quarter selling, general and administrative ("SG&A") expenses
        were $78.7 million this year compared to $72.6 million in 1994 due
        primarily to higher payroll and promotional expenses.  
        


            Chief Executive Officer Stewart M. Kasen said, "The second
        quarter was characterized by continuing consumer caution, with sales
        of consumer electronics and lawn and patio furniture impacted
        adversely throughout the period.  Results were affected by several
        factors, including higher SG&A levels in anticipation of increased
        sales."  
        


            Best Products completed its Chapter 11 proceedings and
        substantially consummated its plan of reorganization in June 1994.
        The financial results for the 13 and 26 weeks ended July 30, 1994
        have been presented on a pro forma basis to reflect adoption of
        fresh start reporting as of the beginning of those periods.
        Management believes this pro forma information provides an
        appropriate and meaningful basis of comparison to the 13 and 26
        weeks ended July 29, 1995.  
        


            Best Products, a specialty retailer offering category-dominant
        assortments of jewelry and home products, operates 164 Best stores
        in 22 states.  The company also operates 12 Best Jewelry stores and
        a nationwide mail-order service.



        
                             BEST PRODUCTS CO. INC.
                  Historical and Pro Forma Results of Operations
                                 (Unaudited)
         
         
                                  13 weeks ended          26 weeks ended  
                                July 29,    July 30,    July 29,   July 30,
                                  1995       1994         1995       1994
                                Historical    Pro-      Historial    Pro-      
                                             Forma(a)              Forma(a)
                     (Dollar amounts in thousands, except per share amounts
        
        Net sales                 $311,841   $312,233     $584,600
        $586,004  
        Cost of goods sold         237,378    235,481      443,545
        442,395
         Gross margin               74,463     76,752      141,055
        143,609
        Selling, general and
         administrative expenses    78,648     72,604      150,860
        140,751  
        Depreciation and
         amortization                3,634      2,457        7,252
        4,914
        Interest expense, net        4,101      4,384        8,295
        8,704         
        Loss before income tax
         benefit                   (11,920)    (2,693)     (25,352)
        (10,760)
        Income tax benefit           4,769      1,077       10,142
        4,304
         Net loss(b)              $ (7,151)  $ (1,616)    $(15,210)  $
        (6,456)
        Net loss per common share $  (0.23)  $  (0.05)    $  (0.48)  $
        (0.20)
        Weighted average common
         shares outstanding     31,630,029 31,660,711   31,645,369
        31,660,711  
        EBITDA(c)                 $ (4,185)  $  4,148     $ (9,805)  $
        2,858


            (a): The pro forma results of operations for the thirteen and
        twenty-six weeks ended July 30, 1994 give effect to the transactions
        occurring in conjunction with the company's emergence from Chapter
        11 as if the emergence had occurred on January 29, 1994 instead of
        June 14, 1994, the actual date.  The results of operations have been
        adjusted to reflect: the reduction in depreciation and amortization
        expense due to the lower assigned values of property and equipment
        and other intangible assets; the elimination of historical interest
        expense and recording of interest expense on the debt structure as
        provided for by the company's reorganization plan; the elimination
        of the effects of historical reorganization items, fresh start
        revaluation and gain on debt discharge; and the recording of
        appropriate income tax benefit.  
   

     
            (b): Operating results are subject to significant seasonal
        fluctuations.  Net earnings (loss) of any quarter are seasonally
        disproportionate to sales since many operating expenses are
        relatively constant throughout a year.  As a consequence, interim
        results should not be relied upon as necessarily indicative of
        results for any entire year.  
      

  
            (c): EBITDA consists of earnings (loss) before interest, income
        taxes, depreciation and amortization.  EBITDA is not intended to
        present net earnings (loss), cash flows or any other measures of
        performance in accordance with generally accepted accounting
        principles, but is included because management believes it to be a
        useful tool for measuring performance.  

        


                          BEST PRODUCTS CO., INC.
                              BALANCE SHEETS
                                (Unaudited)
         
                                              July 29,      July 30,
                                               1995          1994
                                         (Dollar amounts in thousands)
        Assets
        Current assets:
          Cash and cash equivalents            $   78,935     $ 118,595
          Merchandise inventories                 513,988       498,537
          Other                                    34,890        18,991
        Total current assets                  627,813       636,123
         
        Property and equipment, net               168,540       146,176
        Deferred income taxes, net and other       22,263        24,750
         Total Assets                      $  818,616     $ 807,049
         
        Liabilities and Stockholders' Equity
        Current liabilities:
          Current maturities of long-term debt
        and capital lease obligations      $   13,197     $  13,396
          Accounts payable                        163,612       133,973
          Accrued  expenses and other              66,694        82,092
         Total current liabilities            243,503       229,461
         
        Long-term debt                            138,294       140,685
        Capital lease obligations                  89,016        97,544
        Other                                      12,952        13,400
         Total Liabilities                    483,765       481,090
         
        Stockholders' Equity
        Common stock                               31,581        31,661
        Additional paid-in capital                298,385       298,305
        Retained earnings (deficit)                 9,885        (4,007)
                                              339,851       325,959
        Loans under Stock Purchase Loan Plan       (5,000)
        --         
         Total Stockholders' Equity           334,851       325,959
         
         Total Liabilities and
          Stockholders' Equity                 $  818,616     $ 807,049
        


        CONTACT: Best Products Inc., Richmond,
                 Investor Relations: J. Stuart Newton, 804/261-2150 or
                 Betsy Brod, 212/850-5600;
                 Media Contacts: Ross Richardson, 804/261-2157 or
                 Stacy Berns, 212/850-5600