PRINCETON, N.J., September 19, 1995 -- href="dir.bankruptcy.html">Bankruptcy Creditors'
        Service, Inc.
today announced publication of CALDOR BANKRUPTCY
        As widely reported, The Caldor
(NYSE: CLD), based in
        Norwalk, Connecticut, filed for protection from its creditors under
        chapter 11 of the United States Bankruptcy Code yesterday morning.

            "CALDOR BANKRUPTCY NEWS - like our other case-specific
        bankruptcy newsletters - will provide on-going, in-depth news and
        reporting about the chapter 11 reorganization undertaken by The
        Caldor Corporation," says Peter A. Chapman, President of Bankruptcy
        Creditors' Service, Inc., and Editor of CALDOR BANKRUPTCY NEWS.

            Chapman explains that attorneys, creditors, and investors
        involved in chapter 11 bankruptcy cases the size of Caldor's case
        find BCSI's case-specific newsletters to be an invaluable resource
        while attempting to wade through the mountains of paper that are
        filed with the Bankruptcy Court and long hours of court hearings.

        The first issue of CALDOR BANKRUPTCY NEWS includes:

            Chapman said that next week's issue will provide subscribers
        with a detailed review of:
            CALDOR BANKRUPTCY NEWS is distributed on a subscription basis by
        e-mail or facsimile transmission for $45 per issue plus nominal
        transmission charges. New issues are published as significant
        activity occurs (generally every 10 to 20 days) in the Caldor cases.

            Chapman stated that one copy of today's first issue of CALDOR
        BANKRUPTCY NEWS is available at no charge upon request.

            Chapman further advised that individuals with access to the
        Internet may obtain copies of the first issue of CALDOR BANKRUPTCY
        NEWS at href=chap11.caldor.html">

        the InterNet" target=_new>">InterNetBankruptcy Library.

           /CONTACT: Peter A. Chapman of href="dir.bankruptcy.html">Bankruptcy Creditors' Service, Inc.
        609-924-8949, or fax, 609-924-8963, or E-mail: href="">


            NEW YORK, Sept. 19, 1995 -- Al Gordon,
formerly a Managing
        Director at JP Morgan, has joined href="dir.firm.jay.alix.html">Jay Alix & Associates (JA&A), a
        nationally recognized turnaround and debt restructuring firm, as a

            As the head of Morgan's Special Loan Department, Gordon had
        responsibility for dealing with companies that were experiencing
        financial difficulty.

            Jay Alix & Associates is a
highly respected name among banks
        and attorneys and its track record of helping corporate clients
        achieve remarkable turnarounds is impressive," Gordon said.  "It is
        a firm where I will be able to put my restructuring experience to
        full use."

            With JP Morgan for more than 25 years, Gordon dealt with the
        rise of loan defaults, Chapter 11 filings, and restructurings in
        some of the country's largest corporations that occurred during the
        1980s and the early 1990s.

            "Al brings a wealth of experience to the table.  He understands
        both lenders and management, and he appreciates the value of
        consensus as part of a corporate turnaround effort," Jay Alix,
        founder of JA&A said. "He is a great addition to the firm."

            Gordon lives in Greenwich, Connecticut, and will work in the
        firm's mid-town Manhattan office.

        /CONTACT:  Debra E. Kuptz of Jay
Alix & Associates
, 810-358-4420/

CGAS announces sale of Columbia bankruptcy

            COLUMBUS, Ohio--Sept. 19, 1995--Clinton Gas
        Systems Inc. (NASDAQ:CGAS)("CGAS"), a natural gas and oil producer
        and marketer, announced today that it has sold its primary claim in
        the Columbia Gas Transmission
Chapter 11 bankruptcy

            That claim was settled with Columbia in June in the amount of
        $8,400,369.  It was later approved by the Bankruptcy Court to be
        included in Columbia's Plan of Reorganization, which would result in
        ultimate payment of a percentage of the allowed claim if the Plan is

            Jerry D. Jordan, chairman of CGAS, stated that the claim was
        sold to eliminate the uncertainty of the time of payment and
        unforeseen procedural problems.  Jordan added that late in 1995 or
        early in 1996, the company should receive additional payments out of
        the bankruptcy for other CGAS claims.  He said that it is not yet
        possible to determine the total proceeds which will be allocated to
        CGAS from sale of the claim and the later Columbia payments, but
        they should provide income to the company in the range of $4,000,000
        to $5,000,000.

            Clinton Gas Systems Inc. is an Ohio corporation which, through
        its subsidiaries, is engaged in the business of natural gas and oil
        exploration, production and marketing and industrial energy
        management.  Its principal offices are located at 4770 Indianola
        Ave., Columbus, OH 43214.  Its shares are traded on The Nasdaq Stock
        Market under the symbol "CGAS."

        CONTACT:  Clinton Gas Systems Inc., Columbus,
                  J.D. Jordan or Donald A. Nay, 614/888-9588


            BRIGHTON, Mich., Sept. 19, 1995 -- href="chap11.fretter.html">Fretter, Inc. (Nasdaq:
        FTTR) announces sales of $158,106,000 for its second quarter ended
        July 31, 1995.  This is a decrease in sales of 22.6% from the prior
        fiscal year.  The Company closed twelve stores and opened six new
        stores during the last fiscal year and closed twelve stores during
        the second quarter ended July 31, 1995 which in part, contributed to
        the lower sales.

            Comparable store sales decreased 28.5% for the second quarter
        ended July 31, 1995.  The term "comparable store sales" relates each
        store's sales in a current fiscal period to the same store's sales
        in the same period in the prior fiscal year.

            For the second quarter ended July 31, 1995, the Company
        announced a net loss of $10,997,000 ($1.04 per share) compared to a
        net loss of $1,537,000 ($.15 per share) for the second quarter of
        the last year.

            Due to the Company's inability to profitably operate its retail
        stores in the states of New York, California, Washington, Texas,
        Oregon and New Mexico, the Company began closing its retail stores
        in those states in late August, 1995.  In addition, the Company has
        closed several stores in the states of New Jersey, Illinois,
        Pennsylvania and Massachusetts.  The total stores closed and
        currently scheduled to be closed equals 70, which will leave 159
        operating stores.  The Company estimates that a one-time
        restructuring charge to be recorded in the third quarter for these
        costs will range between $36 million and $48 million.  The Company
        continues to review the profitability of all markets and stores.

            As of July 31, 1995, the Company failed to meet two loan
        covenants in its indebtedness to its primary lender.  The lender
        previously granted a waiver of such requirements through July 31,
        1995.  Given the performance of the Company, a further waiver may
        not be granted.

            Based on the foregoing the Company has engaged financial and
        legal advisers to assist it in analyzing various alternative
        strategies, each of which would lead to a material adverse impact on
        the ability of the Company to continue its current operations in the
        current fashion. Accordingly, the Company is actively considering
        all of its options, including seeking relief under the United States
        Bankruptcy Code for the Company and/or one or more of its

            Fretter, Inc. is a large volume specialty retailer of home
        entertainment products, consumer electronics and appliances.  Giving
        effect to the closure of stores in the process of being closed,
        Fretter operates 159 retail stores under the names Fretter, Fred
        Schmid Appliance & TV Co., Dash Concepts, Silo and YES! in the
        states of Arizona, Colorado, Delaware, Illinois, Indiana,
        Massachusetts, Michigan, Montana, Nevada, New Hampshire, New Jersey,
        Ohio, Pennsylvania and Wyoming.

        /CONTACT:  Dale Campbell of Fretter, 810-220-5178/


       Trenton Industries Inc. court approval

            TORONTO, Ontario--Sept. 19, 1995--href="internat.canada.trenton.html">TRENTON
(TSE:TII) -- The court has today adjourned the
        motions for approval of the Proposals under the Bankruptcy and
        Insolvency Act of Trenton Industries Inc. and its two subsidiaries,
        Trenton Machine Tool Inc. and SailRail Enterprises Ltd.  

            The motions for court approval will now be heard on Oct. 19,
        1995.  The adjournment was sought by the Trenton Group in order to
        provide it with an additional period of time in which to obtain
        financing for its obligations under the Proposals and to support a
        return to normal business conditions.  

        CONTACT:  Trenton Industries Inc.,
                  Dean M. Antonakes, 613/394-4861