TCR_Public/950914.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        EAGLE-PICHER INDUSTRIES ANNOUNCES THIRD QUARTER RESULTS

        
            CINCINNATI, Ohio -- Sept. 14, 1995 -- href="chap11.epi.html">Eagle-Picher Industries
        (OTC: EPIHQ.U) today announced that sales for the third quarter
        ended August 31, 1995 were $210.7 million compared with $186.2
        million for the third quarter of 1994.  Operating income for the
        quarter declined to $14.0 million from $14.2 million for the same
        period last year.  Net income for the third quarter of 1995 was
        $23.4 million or $2.12 per share compared with $11.7 million or
        $1.06 per share for the third quarter of 1994.  This is a result of
        the Company's realization of a pretax gain of $11.5 million on the
        sale during the quarter of securities which the Company received in
        the reorganization of a supplier to which it had provided financing.
        At the end of the third quarter of 1995, the Company's cash position
        was $100.4 million.  This compares with a cash position of $92.6
        million at the end of fiscal year 1994 and $94.8 million at the end
        of the third quarter of 1994.

        
            Thomas E. Petry, Eagle-Picher Chairman, said that "during the
        quarter, the economy continued to perform at a reasonably high
        level. Profitability, however, was adversely affected in the
        Automotive Group by seasonal plant shutdowns by customers and normal
        model year change- overs.  Recovering cost increases remains
        difficult and is a concern, particularly if a decline in automotive
        production should occur. European operations, particularly those in
        Germany, experienced a high level of demand for their products
        during the third quarter.  As the automotive manufacturers worldwide
        continue to rely increasingly on their supplier base, opportunities
        for new business never have been better.  The further improvements
        by the Construction Equipment Division accounted for much of the
        gain in the Machinery Group during the period. Shipments of wheeled
        tractor scrapers and forklift trucks were at a high level and
        continued improvement in operating efficiencies accounted for the
        gain.  It is anticipated, however, that production schedules for
        wheeled tractor scrapers in the fourth quarter and entering 1996
        will be reduced.  The Electronics Division enjoyed an excellent
        quarter as demand for special purpose batteries used in defense,
        aerospace, and satellite applications exceeded that of the third
        quarter of 1994.  In the Industrial Group, the Minerals Division
        which manufactures diatomaceous earth products used for filtration
        and general industrial applications, and the Specialty Materials
        Division, a manufacturer of germanium, boron, and gallium compounds
        used in the electronics and nuclear industries, experienced sales
        and earnings increases over the third quarter of 1994.  After the
        close of the quarter, the Company announced its intention to sell
        the injection molding and microcellular portions of the Orthane
        Division's business.

        
            "On February 28, 1995, the Company filed a plan of
        reorganization (the Plan) and Disclosure Statement with the U.S.
        Bankruptcy Court, Southern District of Ohio, in Cincinnati, Ohio.
        The Plan was proposed jointly with the Injury Claimants' Committee
        (ICC) and the Legal Representative for Future Claimants (RFC).  The
        ICC represents, among others, approximately 150,000 persons alleging
        injury due to exposure to asbestos-containing products that Eagle-
        Picher manufactured from 1934 to 1971.  Future personal injury
        claimants are represented by the RFC.  To date, no hearing has been
        set by the Bankruptcy Court to consider approval of the proposed
        Disclosure Statement filed with the Plan and the Company does not
        know when such a hearing will be set.  During the quarter, the
        Company filed a motion requesting that the Bankruptcy Court estimate
        the Company's aggregate liability on account of present and future
        asbestos-related personal injury claims.  As set forth in the
        motion, the estimate of such aggregate liability would be for the
        purposes of determining the appropriate distributions to creditor
        classes under the Plan or any other plan that may be proposed in the
        reorganization cases.  A hearing on the motion has been set for
        September 20, 1995."

        
        The figures follow:
        (Data in thousands except per share)
        
        Three Months Ended August 31            1995           1994
        
        Net sales                             $210,723       $186,191
        Operating income                        14,022         14,226
        Gain on sale of investment              11,505             --
        Other non-operating items                   99           (155)
        Reorganization items                      (132)          (979)
        Income before taxes                     25,494         13,092
        Net income                              23,394         11,733
        Net income per share                      2.12           1.06
          Average shares                        11,041         11,041
        
        Nine Months Ended August 31             1995           1994
        
        Net sales                             $633,704       $560,939
        Operating income                        48,282         45,544
        Gain on sale of investment              11,505             --
        Other non-operating items                 (482)          (826)
        Reorganization items                      (888)        (2,984)
        Income before taxes                     58,417         41,734
        Net income                              53,202         37,441
        Net income per share                      4.82           3.39
          Average shares                        11,041         11,041

        /CONTACT:  J. Rodman Nall of Eagle-Picher Industries, 513-721-7010/



        SPORTSTOWN FILES PLAN OF LIQUIDATION

        
            ATLANTA, Georgia, Sept. 14, 1995 -- href="chap11.sportstown.html">SportsTown, Inc. (Nasdaq:
        SPTN), announced that it had, in conjunction with the Creditors'
        Committee in its bankruptcy case, filed the First Amended Joint Plan
        of Liquidation (the "Plan") and a related Disclosure Statement with
        the United States Bankruptcy Court for the Northern District of
        Georgia.  The Plan provides that holders of administrative claims,
        secured claims and certain tax claims will be paid in full upon the
        effective date of the Plan.  The Plan further provides that the
        remaining assets of the Company following the liquidation of its
        inventory and other assets and the sale or surrender of the
        Company's leases will be distributed to the Company's unsecured
        creditors.  Equity holders will receive no distribution under the
        Plan.  If approved as filed, the Plan would cause the cancellation
        of all the Company's common stock, the deregistration of the
        Company's common stock under the Securities Exchange Act of 1934 and
        the dissolution of the Company for corporate law purposes.
        

            The Bankruptcy Court has set a hearing on Oct. 19, 1995 to
        consider, among other things, the approval of the Disclosure
        Statement submitted in connection with the Plan.  The Company filed
        bankruptcy under Chapter 11 of the Bankruptcy Code on Feb. 7, 1995.
   

     
        /CONTACT:  Thomas K. Haas, Chairman and CEO, or Clyde Fossum, Senior
        Vice President, CFO, 404-246-5300, both of SportsTown, Inc./




        SUMMARY OF KEY ISSUES SURROUNDING DOW CORNING'S LITIGATION TRIAL ON
        INSURANCE COVERAGE FOR SILICONE BREAST IMPLANTS SEPTEMBER 14, 1995

        
        Dow Corning Corporation v. Hartford
Accident and Indemnity Co., et
        al.
   

     
            Because of the number of media inquires recently received by Dow
        Corning concerning its silicone breast implant insurance coverage
        trial scheduled to begin on September 18, 1995 in Detroit, Dow
        Corning is issuing this media backgrounder to answer the most
        commonly-asked questions.
        


            In September 1993, a number of Dow Corning's product liability
        insurers brought an action in the Circuit Court for Wayne County,
        Michigan, contesting their obligation to pay defense and
        indemnification expenses incurred by Dow Corning in connection with
        breast implant product liability cases pending throughout the
        country.  Eventually, over 100 insurers and approximately 700
        insurance policies became involved in the litigation, which is
        assigned to Judge Robert J. Colombo, Jr.
        


            Dow Corning has vigorously pursued, and will continue to pursue,
        settlement with all of the insurers who provided insurance coverage
        for silicone breast implants during the approximately 30 years in
        which the device was sold.
        

            Dow Corning has been successful in reaching settlements with
        several of its major insurance carriers.  However, settlement has
        not yet been reached with the majority of its insurers.
   

     
            The principal issues in the upcoming trial are whether, and to
        what extent, the insurance policies purchased by Dow Corning from
        1962 through 1985 provide coverage for Dow Corning's silicone breast
        implant liabilities.  The policies at issue in the Detroit coverage
        litigation are "occurrence" policies, which provided coverage for
        bodily injuries that occurred during the respective policy periods.
        The breast implant plaintiffs generally allege various bodily
        injuries occurring continuously from the date of implant.
      

  
            For the years after 1985, Dow Corning purchased "claims made"
        insurance coverage, which provides coverage for lawsuits arising
        during the year in which the claim is asserted.  The "claims made"
        policies are not at issue in the Detroit litigation.
        


            In recent weeks, a number of Dow Corning's insurers have reached
        tentative settlement agreements with Dow Corning in fulfillment of
        their insurance obligations.  In the near future, those settlement
        agreements that are finalized will be submitted to the bankruptcy
        court in Bay City, Michigan for approval.
        


            Dow Corning Corp., a global leader in silicon-based materials,
        is a Michigan corporation with shares equally owned by The Dow
        Chemical Co. (NYSE: DOW) and Corning Inc. (NYSE: GLW).  More than
        half of Dow Corning's sales are outside the U.S.
        


        /CONTACT:  Barb Muessig of Dow Corning, 517-406-8841/




        JAY JACOBS FILES CONSENSUAL PLAN OF REORGANIZATION

        
         Company expects swift confirmation and emergence from Chapter 11
        prior to holiday selling season
   

     
            SEATTLE, Washington -- Sept. 14, 1995 -- href="chap11.jay.html">Jay Jacobs, Inc. (Nasdaq:
        JAYJQ) announced that it filed a plan of reorganization today in
        U.S. Bankruptcy Court after only 16 months in Chapter 11.  The
        consensual plan has the support of all of the major stakeholders in
        the reorganization including the creditors committee.  The company
        expects to emerge from Chapter 11 some time in the fall, prior to
        the start of the holiday selling season.

        
            "When I came to Jay Jacobs last September, I saw a company that
        still had a lot of potential, which enabled me to attract some of
        the top talent in the industry.  Since then, our team has put the
        systems in place so we could emerge from Chapter 11 quickly, and
        revitalized the entire organization." said Rex Steffey, President
        and CEO of Jay Jacobs. "Over the past year we have re-directed the
        company's merchandising strategy and focused on the bottom-line, and
        we are optimistic about the company's future prospects once we
        emerge from Chapter 11."

        
            "Thanks to the cooperation of the creditors committee, we have
        developed a plan of reorganization that we believe is equitable for
        all of our major stakeholders."
   

     
            Under the terms of the plan unsecured creditors have the option
        of a cash payout over two years equaling 60 percent of their allowed
        claim. The unsecured creditors' second option calls for a forty-five
        percent cash payout over two years and notes equaling forty-two
        percent of the allowed claim, for a total payment of eighty-seven
        percent of the allowed claim by the year 2001.
      

  
            Shareholders of common stock will retain their current equity
        interest in the company.
        


            "Now that we have filed a consensual agreement, which includes
        all major stakeholders, Steffey and his management team can focus
        their efforts on continuing the company's progress as they move back
        into the black," said Jim Colson, Creditors Committee member and
        representative of Star of India, a key vendor of Jay Jacobs.  "We
        are pleased with the company's progress to date, and look forward to
        continuing our relationship with Jay Jacobs."
        


            Steffey cited the following accomplishments of the management
        team over the past year: