TCR_Public/950915.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        HOUSE OF FABRICS REPORTS SECOND-QUARTER EARNINGS

        
            SHERMAN OAKS, California--Sept. 15, 1995--href="chap11.hf.html">House of Fabrics,
        Inc.
(NYSE: HF) said today that, as anticipated, problems
related to
        merchandise shortages and the closing of more than 270 stores since
        July 31, 1994, continued to result in losses for the company.
        


            House of Fabrics reported that for the quarter ended July 31,
        1995, it had sales of  $71.9 million, compared with sales of $110.1
        million during the comparable period the previous year.  According
        to the company, the decrease was due to store closings and a decline
        in store- for-store sales of 14 percent.  The company said that the
        decrease had been projected as part of the its plan to discontinue
        its highly promotional sales strategy in favor of the chain-wide
        implementation of everyday value pricing.  Additionally, House of
        Fabrics said that the chain experienced a significant loss of
        continuing customers as a result of merchandise shortages.
        


            For the six-month period ended July 31, 1995, the company
        reported sales of $145.7 million as contrasted to sales of $224.8
        million in the same period for the prior year.
        


            At the same time, the company said that gross profit as a
        percentage of sales continues to increase as a result of the chain-
        wide implementation of everyday value pricing.   For the three
        months ended July 31, 1995, the company reported that gross profit
        increased to 42.9 percent from 41.2 percent for the prior year
        period.  For the six months ended July 31, 1995, gross profit as a
        percentage of sales increased to 46.5 percent from 43.5 percent for
        the prior year period.
        


            "We have changed the way we do business as a retailer," said
        Gary L. Larkins, House of Fabrics president and chief executive
        officer.  "We have discontinued heavy discounting in favor of
        stronger margins from everyday low pricing.  The anticipated drop in
        sales is a short-term result of our new strategy, and we are
        actually slightly ahead of plan relative to performance.
        


             "With new inventory available and everyday value pricing fully
        implemented chain wide, we expect to realize greater sales volume in
        the second half of the year, traditionally the company's heaviest
        selling season," Mr. Larkins said.
        


            The company reported a net loss for the second quarter of fiscal
        1996 of $11.0 million, or $0.81 per share, contrasted with a net
        loss of $11.6 million, or $0.85 per share, for the same period in
        fiscal 1995. Per share earnings for the quarter are based on
        13,697,107 weighted average shares outstanding, which is the same
        number of weighted average shares outstanding in the comparable
        period a year earlier.
        


            For the six months ending July 31, 1995, the company reported a
        net loss of $19.0 million, or $1.39 per share, contrasted with a net
        loss of $13.1 million, or $0.96 per share, for the same period in
        fiscal 1995. Per share earnings for the quarter are based on
        13,697,107 weighted average shares outstanding, which is the same
        number of weighted average shares outstanding in the comparable
        period a year earlier.
        


            On August 31, 1995, the company announced that it had filed a
        plan of reorganization with the Bankruptcy Court and expected to
        successfully emerge from Chapter 11 this fiscal year, which ends
        January 31, 1996.
        


            House of Fabrics operates 363 continuing Company-owned House of
        Fabrics, Sofro Fabrics, Farbricland and Fabric King retail fabric
        and craft stores in 34 states and employs approximately 8,600
        people.  The Company and its subsidiaries filed to restructure under
        Chapter 11 on November 2, 1994.
     

   


               Consolidated Statements of Operations (Unaudited)
                    House of Fabrics, Inc. and Subsidiaries
                            (Debtors-in Possession)
        
                               For the Three Months Ended July 31,
                                   1995                1994
        
        Sales                   $71,909,000        $110,114,000
        Expenses:
         Cost of Sales           41,056,000          64,784,000
         Selling, General
          and Administrative     36,322,000          53,686,000
         Interest                 3,597,000           3,766,000
        Total Expenses          $80,975,000        $122,236,000
        Loss Before Income
         Taxes (Benefit) and
          Reorganization Costs   (9,066,000)        (12,122,000)
        Reorganization Costs      1,923,000                 ---
        Loss Before Income
         Taxes (Benefit)        (10,989,000)        (12,122,000)
        Income Taxes (Benefit)       50,000            (474,000)
        Net Loss               $(11,039,000)       $(11,648,000)
        Loss Per Share               $(0.81)             $(0.85)
        Weighted Average Number
         of Shares Outstanding   13,697,107          13,697,107
        
               Consolidated Statements of Operations (Unaudited)
                    House of Fabrics, Inc. and Subsidiaries
                            (Debtors-in Possession)
        
                               For the Six Months Ended July 31,
                                   1995                1994
        
        Sales                  $145,668,000        $224,809,000
        Expenses:
         Cost of Sales           77,931,000         126,952,000
         Selling, General and
          Administrative         73,690,000         105,463,000
          Interest                7,525,000           6,454,000
         Total Expenses        $159,146,000        $238,869,000
        Loss Before Income
         Taxes (Benefit) and
         Reorganization Costs   (13,478,000)        (14,060,000)
        Reorganization Costs      5,445,000                 ---
        Loss Before Income
         Taxes (Benefit)        (18,923,000)        (14,060,000)
        Income Taxes (Benefit)      100,000            (942,000)
        Net Loss               $(19,023,000)       $(13,118,000)
        Loss Per Share               $(1.39)             $(0.96)
        Weighted Average Number
         of Shares Outstanding   13,697,107          13,697,107

        
        /CONTACT:  Sandra Sternberg of Sitrick and Company 310-788-2850/




        CENTEX AGAIN RAISES BID FOR VISTA PROPERTIES
        


            DALLAS, Texas--Sept. 15, 1995--Centex Corporation (NYSE: CTX)
        said today that in response to certain negotiations between various
        noteholders and a potential bider, it has submitted an amendment to
        its Securities Purchase Agreement with href="chap11.vista.html">Vista Properties, Inc. (OTC:
        VTPY-A), to provide aggregate consideration of $115.0 million to
        Vista's noteholders and stockholders.
        


            Vista filed its prepackaged restructuring plan (the Plan) with
        the Bankruptcy Court on August 17 and has a scheduled confirmation
        hearing for the Plan on Sept. 19, 1995.  If confirmed by the Court
        on Sept. 19, the Plan proceedings should be completed in early
        October 1995.
        


            Centex retains its continuing right to increase its
        consideration in response to any Qualified Overbids for Vista.
        


            Centex said it is committed to the consummation of the
        acquisition which it undertook in December 1994 when Centex executed
        the initial Securities Purchase Agreement as part of Vista's
        restructuring plan. Centex currently owns 4 percent of Vista's
        common stock.
        


            Centex Corporation, through its subsidiaries, is the nation's
        largest builder of single-family detached homes, a leading mortgage
        retail originator and general building contractor, and owns a 49
        percent equity interest in a construction products company.
        


        /CONTACT:  David W. Quinn, executive vice president and chief
        financial officer, or Sheila E. Gallagher, vice president
        - corporate
        communications of Centex Corporation, 214-559-6500/




        BAHADUR, BALAN & KAZERSKI LTD. TO ASSIST SPEAKER, HINES & THOMAS IN
        TURNAROUND AFTER CHAPTER 11 FILING
        


            SOUTHFIELD, Michigan--Sept. 15, 1995--href="dir.firm.bahadur.balan.html">Bahadur, Balan &
        Kazerski Ltd.
, a leading turnaround management firm
experienced in
        bankruptcy matters, has been retained to assist href="chap11.speaker.html">Speaker, Hines &
        Thomas
, a Lansing-based printing firm, which today filed for
        protection under Chapter 11 of federal bankruptcy laws.
        


        Speaker, Hines & Thomas filed in U.S. Bankruptcy Court in Grand Rapids.


            BBK Principal B.N. Bahadur has been named interim CEO of
        Speaker, Hines & Thomas.  "We look forward to working closely with
        Speaker, Hines & Thomas," Bahadur said.  "We will quickly have a
        program up and running to move past Chapter 11 and toward a long and
        bright future for the company."

        
            Speaker, Hines & Thomas, founded in 1884, has 107 employees and
        reported $15.8 million in 1994 sales. Thomas W. Schouten of Dunn,
        Schouten & Snoap has been retained as special counsel for Speaker,
        Hines & Thomas.
   

     
            Bahadur, Balan & Kazerski is a premier, Southfield, Michigan-
        based turnaround management firm serving clients in the automotive,
        retail, health care and manufacturing industries. Clients include
        original equipment manufacturers and secured lenders.
      

  
        /CONTACT: Dan Calabrese, 313-567-5070, or Jack Seamonds,
        313-567-5005, both of Franco Public Relations Group/