Caldor receives court approval for interim use of $150
        million of its $250 million DIP financing -- Company Also Has
        Ability to Use Proceeds from Current Inventory--

            NORWALK, Conn.--Sept. 21, 1995--The
(NYSE: CLD) announced today that it has received
        approval from the U.S. Bankruptcy Court for interim use of $150
        million of its $250 million debtor-in-possession financing
        commitment from Chemical Bank.  

            The court also granted Caldor's request to continue to use cash
        receipts from the sale of its current inventory to purchase new
        inventory and to meet obligations associated with the operation of
        its business.  

            "The $150 million in DIP financing, together with the proceeds
        from the sale of our inventory, provides Caldor with ample working
        capital to meet its financial needs during the initial stages of the
        Chapter 11 process,"  said Don Clarke, Chairman and Chief Executive
        Officer.  "Our vendors, including both domestic and foreign
        suppliers, as well as our customers should be assured that we have
        the resources to conduct business as usual."  

            The Company will request court approval for the balance of its
        DIP financing commitment in a hearing scheduled for October 11,
        1995. Upon approval, Caldor will have access to in excess of $500
        million, from the DIP financing and from the sale of inventory, to
        fulfill its needs.  

            The Caldor Corporation is the fourth largest discount department
        store chain in the U.S., with annual sales of approximately $2.8
        billion.  It operates 166 stores in ten East Coast states.  With a
        strong consumer franchise in high-density urban/suburban markets,
        Caldor offers a diverse merchandise selection, including both
        softline and hardline products.  

        CONTACT:  The Caldor Corporation, Norwalk,
                  Investor Relations:  
                  David D. Peterson: 203/849-2334
                  Kekst and Company, New York,
                  Media:  Wendi Kopsick/Jim Fingeroth, 212/593-2655


           BOSTON, Mass.--Sept. 21, 1995--MGI Properties,
Inc. ("MGI")
        (NYSE: MGI) today reported 1995 third quarter and nine-month
        results. Funds from operations were $4,807,000, or $.42 per share,
        for the quarter ended August 31, 1995 compared to $4,499,000, or
        $.39 per share, earned in the comparable 1994 quarter.  Net income
        in the third quarter of 1995 was $2,833,000, or $.25 per share.  Net
        income for the three months ended August 31, 1994 (which included a
        gain of $2,700,000, or $.24 per share) was $5,287,000, or $.46 per

           For the nine months ended August 31, 1995, funds from operations
        were $14,130,000, or $1.23 per share and net income was $9,759,000,
        or $.85 per share.  For the comparable 1994 period, funds from
        operations were $13,233,000, or $1.16 per share, and net income was
        $10,564,000, or $.92 per share.  Net income for the nine months
        ended August 31, 1995 included a gain of $1,400,000, or $.12 per
        share, versus a gain of $3,150,000, or $.27 per share, in the
        comparable 1994 period.

           W. Pearce Coues, Chairman of the Board of Trustees, stated that
        earnings were enhanced by initial yields of approximately 13.7% on
        newly acquired investments, lower interest rates on properties
        refinanced and rising income levels of comparable properties owned
        in both periods. The commercial portfolio of 4,170,000 square feet
        was 95.5% leased at the close of the 1995 third quarter.  The 4.5%
        of unleased space includes the 105,000 square-foot building leased
        by Bradlees, which the Trust is
treating as vacant and non-rent
        paying, pending Bradlees' decision to accept or reject the lease as
        permitted in Bradlees' Chapter 11 bankruptcy proceeding filed on
        June 23, 1995.  The Trust acquired title to this property effective
        August 1, 1995.  Should Bradlees reject the lease, MGI is entitled,
        as a general creditor, to file a claim for rent as permitted in the
        bankruptcy proceeding.  The Trust remains confident in its ability
        to re-lease or sell the building should Bradlees reject the lease.

           Dividend Declared

           The Trustees declared a quarterly dividend of $.23 per share,
        payable October 12, 1995 to shareholders of record October 5, 1995.

                                 MGI PROPERTIES
                                      For the Three Months Ended August 31,
                                     1995    Per share     1994    Per share
        Total Income(A)          $11,295,000      ---  $11,117,000      ---
        Operating results:
        Funds from operations(B)  $4,807,000     $.42   $4,499,000     $.39
        Income before net gains   $2,833,000     $.25   $2,587,000     $.22
        Net gains                        ---      ---   $2,700,000     $.24
        Net income                $2,833,000     $.25   $5,287,000     $.46
        Average shares outstndg.  11,492,396      ---   11,452,895      ---
                                        For the Nine Months Ended May 31,
                                      1995   Per share     1994    Per share
        Total Income(A)          $33,531,000      ---  $32,886,000      ---
        Operating results:
        Funds from operations(B) $14,130,000    $1.23  $13,233,000    $1.16
        Income before net gains   $8,359,000     $.73   $7,414,000     $.65
        Net gains                  1,400,000     $.12   $3,150,000     $.27
        Net income                $9,759,000     $.85  $10,564,000     $.92
        Average shares outstndg.  11,483,927      ---   11,446,962      ---
           NOTE: (A) Total income excludes net gains.
           NOTE: (B) MGI defines funds from operations as net income
        (computed in accordance with generally accepted accounting
        principles), excluding gains (or losses) from debt restructuring,
        sales of property and similar non-cash items, plus depreciation and

           /CONTACT:  Phillip C. Vitali, Executive Vice President and
        Treasurer of MGI, 617-330-5335/


        AUTOZONE'S 4TH QUARTER EPS INCREASED 23% TO $0.37 VS. $0.30; 84 NEW

            MEMPHIS, Tenn., Sept. 21, 1995 -- J.R. Hyde III,
        and chief executive of AutoZone, Inc. (NYSE: AZO), announced
        AutoZone's net income for the 16 weeks ended August 26, 1995,
        increased 21% to $54.9 million from $45.2 million for the fiscal
        fourth quarter of 1994. Earnings per share increased 23% to 37 cents
        from 30 cents.  Sales rose 20% to $628.8 million from $523.8 million
        a year earlier.  Comparable store sales, or sales at stores opened
        prior to the start of fiscal 1994, rose 5%.

            For fiscal 1995, net income increased 19% to $138.8 million from
        $116.4 million for fiscal 1994.  Earnings per share increased 19% to
        93 cents from 78 cents.  Sales increased 20% to $1.81 billion from
        $1.51 billion.  Comparable store sales rose 6%.

            During the fourth quarter, AutoZone opened 84 new stores and 11
        replacement stores.  For fiscal 1995, AutoZone opened 210 new stores
        and 29 replacement stores.  AutoZone increased total store square
        footage by 26% in fiscal 1995, compared to 23% in fiscal 1994.

            "This marks the fifth consecutive year that we've accelerated
        our rate of growth in total store square footage," Mr. Hyde said.
        "We expect to accelerate our store openings again this year to 250
        new stores, representing about a 26% increase in square footage."
        AutoZone also plans to open a second call center next month in
        Houston, Texas, Mr. Hyde said.  The center will handle customer
        calls to high-volume stores that aren't currently serviced by
        AutoZone's call center in Memphis.

            AutoZone's projected store openings for fiscal 1996 would
        increase to 285, or a 28% increase in square footage, if its
        previously announced offer to buy one store and assume 44 leases
        from Nationwise Automotive
is approved.  AutoZone would convert
        the 45 locations into AutoZone stores, and would cancel plans for 10
        stores in the same trade areas. The transaction is subject to
        federal bankruptcy court approval because Nationwise filed under
        Chapter 11 of the federal Bankruptcy Code. Approval is uncertain
        because Nationwise received a competing offer at a court hearing

            Separately, AutoZone announced that it filed a registration
        statement with the Securities and Exchange Commission for an
        offering of 19 million common shares (21.85 million shares if
        underwriters' overallotment options are fully exercised) of AutoZone
        stock by three limited partnerships that are affiliates of Kohlberg
        Kravis Roberts & Co., L.P.  The offering will reduce the
        partnerships' stake in AutoZone to about 30% (28% if overallotment
        options are fully exercised) from 43% prior to the offering.

             The offering will be lead-managed by Goldman, Sachs & Co.; and
        co- managed by Lehman Brothers Inc.; Donaldson, Lufkin & Jenrette
        Securities Corp.; Furman Selz Inc.; Merrill Lynch & Co.; and Smith
        Barney Inc.

            AutoZone and its management aren't selling any shares in the
        offering, so the company won't receive any of the proceeds from the
        sale.  "KKR has had a substantial ownership position in AutoZone
        since 1984," Mr. Hyde said.  "This offering reflects its long-term
        strategy to realize gains in AutoZone stock and to reduce its
        ownership position over time."

            AutoZone sells auto parts, chemicals and accessories, primarily
        to "do-it-yourself" customers, through its chain of 1,143 retail
        stores in 26 states.

                      (in thousands, except per-share data)
                                         16 Weeks Ended     16 Weeks Ended
                                         August 26, 1995    August 27, 1994
         Net sales                          $628,824            $523,821
         Gross profit                       $266,109            $220,215
         Operating profit                   $ 89,935            $ 74,197
         Income before income taxes         $ 89,935            $ 74,823
         Net income                         $ 54,897            $ 45,223
         Net income per share               $   0.37            $   0.30
         Average shares outstanding
          including common stock
          equivalents                        149,421             148,775
                                         52 Weeks Ended     52 Weeks Ended
                                         August 26, 1995    August 27, 1994
         Net sales                        $1,808,131          $1,508,029
         Gross profit                     $  751,098          $  621,961
         Operating profit                 $  227,658          $  190,742
         Income before income taxes       $  228,281          $  192,986
         Net income                       $  138,781          $  116,386
         Net income per share             $     0.93          $     0.78
         Average shares outstanding
          including common stock
          equivalents                        149,302             148,726

         /CONTACT:  Financial, Sheila Stuewe, 901-325-4458, or Media, Laura
        Nevins, 901-325-6647, both of AutoZone/