BRAINTREE, Mass., Sept. 22, 1995 -- href="chap11.bradlees.html">Bradlees, Inc. (NYSE:
        BLE) today reported results for the second quarter of fiscal l995.
        Sales for the 12 weeks ended August 12, l995 were $379.3 million
        compared with $407.7 million  for the second quarter last year.  The
        operating loss for the quarter was $49.8 million compared with an
        operating profit of $8.2 million in 1994.  Comparable store sales
        declined 15.9%.  The net loss per share was $3.01 this quarter
        versus net earnings of $.05 per share for the second quarter last

            Sales for the 28 weeks ended August 12, l995 were $881.8 million
        compared with $885.9 million last year.  Comparable store sales
        declined 10.3%.  The year-to-date operating loss was $89.8 million
        versus an operating profit of $3.1 million last year. The net loss
        per share for the 28 weeks this year was $5.71 versus a net loss of
        $.73 last year.

            Commenting on the second quarter results, Mark A. Cohen,
        Chairman and Chief Executive Officer said, "Following the
        significant disruption of our receipt of merchandise both prior to
        and as a consequence of the Company filing for protection under
        Chapter 11 of the U.S. Bankruptcy Code on June 23, 1995, Bradlees
        sales and margins were adversely affected by out-of-stock conditions
        and inventory imbalances across a wide range of merchandise
        categories.  We have been working diligently to restore inventories
        to planned levels and are confident that our merchandise will be
        well positioned to take advantage of the holiday shopping season.
        At the close of the second quarter, the Company achieved significant
        improvement in its liquidity with cash balances of $126 million with
        no direct borrowings under its DIP financing facility, while vendors
        and suppliers maintained existing credit terms on post- filing

            Bradlees, Inc. operates 136 discount department stores in Maine,
        New Hampshire, Massachusetts, Connecticut, Rhode Island, New York,
        New Jersey, Pennsylvania and Virginia.  Bradlees' common stock is
        listed and traded on the New York Stock Exchange under the symbol

            NOTE: For additional Bradlees press releases, please call 800-
        758-5804, extension 105750.

                                 BRADLEES, INC.
                                AND SUBSIDIARIES
                       (Operating as Debtor-in-Possession)
                 (Dollars in thousands except per share amounts)
                                             12 Weeks Ended
                                     August 12, 1995    August 13, 1994
        Total sales                      $379,272        $407,667
        Leased department sales            14,418          13,671
        Net sales                         364,854         393,996
        Cost of goods sold                267,138         266,999
        Gross margin                       97,716         126,997
        Leased department and other
         operating income                   3,531           3,566
        Total                             101,247         130,563
        Selling, store operating and
         administrative expenses          126,165         111,431
        Depreciation and amortization      11,977          10,910
        Earnings (loss) before interest,
         taxes, bankruptcy and
         conversion expenses              (36,895)          8,222
        Bankruptcy expenses                 6,000             ---
        Conversion expenses                 6,880             ---
        Earnings (loss) before
         interest and taxes               (49,775)          8,222
        Interest and debt expense, net      4,667           7,142
        Earnings (loss) before
         income taxes                     (54,442)          1,080
        Income tax expense (benefit)      (20,018)            480
        Net earnings (loss)              $(34,424)           $600
        Net earnings (loss) per share      $(3.01)          $0.05
                                 BRADLEES, INC.
                                AND SUBSIDIARIES
                       (Operating as Debtor-in-Possession)
                 (Dollars in thousands except per share amounts)
                                          28 Weeks Ended
                                       August 12,   August 13,
                                       1995           1994
           Total sales                   $881,833      $885,891
           Leased department sales         30,644        29,131
           Net sales                      851,189       856,760
           Cost of goods sold             613,997       579,637
           Gross margin                   237,192       277,123
           Leased department and other
        operating income                7,777         7,891
           Total                              244,969       285,014
           Selling, store operating and
        administrative expenses       292,140       256,454
           Depreciation and amortization   28,506        25,502
           Earnings (loss) before
        interest, taxes,
        bankruptcy and
        conversion expenses          (75,677)       (3,058)
           Bankruptcy expenses             6,000           ---
           Conversion expenses             8,094           ---
           Earnings (loss) before
           interest and taxes            (89,771)        3,058
           Interest and debt
        expense, net                  16,848        16,707
           Loss before income
        tax benefit and
        cumulative effect
        of accounting change        (106,619)      (13,649)
           Income tax benefit            (41,410)       (5,874)
           Loss before cumulative
        effect of accounting
        change                       (65,209)       (7,775)
           Cumulative effect
        of accounting
        change, net of
        income tax benefit              ---           (485)
           Net loss                     $(65,209)      $(8,260)
           Net loss per share:
           Loss before cumulative
        effect of accounting
        change                        $(5.71)       $(0.69)
           Cumulative effect
        of accounting
        change, net of
        income tax benefit               ---         (0.04)
           Net loss per share             $(5.71)       $(0.73)
                                 BRADLEES, INC.
                                AND SUBSIDIARIES
                       (Operating as Debtor-in-Possession)
                             (Dollars in thousands)
                                         August 12,    Jan. 28,   August 13,
                                           1995          1995        1994
           Current assets:
           Restricted cash                     $7,048         $---
           Unrestricted cash and
        cash equivalents                  119,673       10,148       1,935
           Total cash and cash equivalents    126,721       10,148
           Accounts receivable                10,543        17,537
           Inventories                        296,799      306,218
           Prepaid expenses                     6,847       10,605
           Deferred income taxes               28,587        1,421
           Total current assets               469,497      345,929
           Property, plant and equipment, net:
           Property excluding capital
        leases, net                       215,167      223,333     190,611
           Property under capital leases, net  61,589       59,808
           Total property, plant and
        equipment, net                    276,756      283,141     249,559
           Other assets:
           Lease interests at fair value and lease
        acquisition costs, net            242,265      247,485     251,398
           Other, net                           1,811        8,259
           Total                              244,076 255,744     258,040
        Total assets                         $990,329     $884,814
                                 BRADLEES, INC.
                                AND SUBSIDIARIES
                       (Operating as Debtor-in-Possession)
                             (Dollars in thousands)
                                         August 12,    Jan. 28,   August 13,
                                           1995          1995        1994
           Current liabilities:
           Accounts payable                  $115,555     $219,639
           Accrued expenses                    45,515       64,520
           Short-term debt                        ---       21,000
           Current portion of capital
        lease obligations & other           5,595        7,896       6,553
           Total current liabilities          202,665      313,055
           Long-term liabilities:
           Subordinated debt                      ---      225,000
           Obligations under capital leases
        and other                          42,663       64,643      59,407
           Deferred income taxes               79,442       89,959
           Other long-term liabilities         29,014       28,725
           Total long-term liabilities        151,119      408,327
           Liabilities subject to settlement
        under the reorganization case     539,572          ---         ---
           Stockholders' equity:
           Common stock - 11,417,958 shares
        outstanding (11,385,254 at 1/28/95,
        11,277,656 at 8/13/94)
           Par value                              115          113
           Additional paid-in-capital         137,951      138,077
           Unearned compensation              (1,032)      (1,697)
           Retained earnings
        (accumulated defecit)            (39,561)       27,359      17,175
           Treasury stock, at cost              (500)        (420)
           Total stockholders' equity          96,973      163,432
           Total liabilities and
        stockholders' equity             $990,329     $884,814    $842,380

        /CONTACT: Aileen Gorman of Bradlees, 617-330-8370/

            LOS ANGELES, Sept. 22, 1995 -- href="dir.firm.sitrick.html">Sitrick And Company, one of
        the nation's leading strategic communications firms, announced the
        addition of two executives to its Los Angeles office.

            John Shaw joins the firm as a vice president in its investor
        relations account group.  Most recently, he held a senior executive
        position at a large public relations firm specializing in financial
        public relations.  His previous experience includes serving as a
        business journalist with Gannett News Service, and an on-air
        reporter and anchor for a CBS television affiliate.  Prior to that,
        he served as a stockbroker with E.F. Hutton and as a captain and
        communications officer in the United States Marine Corps.

            Ann Julsen joins the firm as a vice president in its crisis and
        corporate groups.  Prior to joining Sitrick, Ms. Julsen served as
        director of communications at Broad Inc. and Kaufman and Broad, Inc.
        Before that, she worked for seven years at Wickes Companies, where
        she held positions of increasing responsibility, including director
        of public relations and director of shareholder relations.  Her
        experience encompasses a broad range of business situations,
        including hostile takeovers and defenses, Chapter 11 reorganization,
        acquisitions and divestitures, major business liquidations, product
        liability, environmental and other issues.  Prior to that, she
        served in various media communications and public affairs positions
        and worked as a reporter for several daily newspapers, primarily
        covering government affairs.

            "We are extremely pleased to be able to add people like John
        Shaw and Ann Julsen to our team," said Michael Sitrick, chairman and
        chief executive officer of Sitrick And Company.  "Our growth is
        limited only by our ability to attract and retain good people.

            "John's talent and expertise should add significantly to our
        growing investor relations practice.  Ann Julsen is an experienced
        professional who has proven her corporate crisis communications
        abilities in the most difficult of situations.  I am glad to have
        her rejoin me again at this firm, after working with her at Wickes."

            Sitrick And Company specializes in corporate, financial,
        transactional and crisis communications and maintains offices in Los
        Angeles and New York.

        /CONTACT:  Mike Kolbenschlag, Sandra Sternberg or Anne DeWolfe,
        310-788-2850, all of Sitrick And Company/

        (LESLIE-FAY)(LES) Leslie Fay exclusivity period
extended through
        October 31, 1995; company and creditors to submit joint plan of

            NEW YORK--Sept. 22, 1995--The
Leslie Fay
        Companies, Inc.
  announced today that the U.S. Bankruptcy
Court for
        the Southern District of New York has granted a motion that extends
        the period during which only the company and its Creditors'
        Committee have the exclusive right to file a plan of reorganization
        through October 31, 1995 and extends through December 31, 1995, the
        period during which acceptances for a reorganization plan may be

            Leslie Fay, which has been working closely with the Creditors'
        Committee to develop a plan of reorganization for more than a year,
        fully expects that a plan approved by the Creditors' Committee will
        be submitted to the court within the extension period barring
        unanticipated delays.  As previously announced, Leslie Fay intends
        to sell or spin off its Sassco Fashions business and emerge from
        chapter 11 restructured around its Leslie Fay Dress, Leslie Fay
        Sportswear and Castleberry businesses.  The restructured Leslie Fay
        would be 100-percent owned by creditors and management.  

            John J. Pomerantz, chairman and chief executive officer of
        Leslie Fay, said, "We are pleased the court has approved our motion.
        We expect to be able to file a plan within this period and look
        forward to concluding the company's chapter 11 case by the end of
        the year."  

            "While the development of a plan of reorganization in
        conjunction with our creditors has been a complicated and time-
        consuming process,"  Pomerantz continued, "the Board, management and
        creditors are all committed to completing this process in a timely
        fashion.  We at Leslie Fay are extremely appreciative of the
        continued confidence shown by our customers and vendors.  Their
        support has been and will continue to be a key to our success."  

            Founded in 1947, The Leslie Fay Companies, Inc., is one of the
        nation's leading manufacturers of women's apparel, including
        dresses, suits and sportswear.  Its brand names include Leslie Fay,
        Albert Nipon, Kasper for A.S.L., Castleberry, Outlander, and HUE.  

        CONTACT:  Kekst and Co.,
                  James Fingeroth or Michael Freitag, 212/593-2655


            PHOENIX, Arizona, Sept. 22, 1995 -- America West Airlines (NYSE:
        AWA) announced today that its Board of Directors has authorized the
        purchase of up to 2.5 million shares of its Class B common stock on
        the open market as circumstances warrant over the next two years.
        The Company also announced it is seeking approval to distribute
        approximately 2.4 million shares of its Class B common stock
        following the resolution of certain claims which were disputed at
        the time of its emergence from Chapter 11 bankruptcy in August 1994.

            Following the approval of the stock repurchase program by the
        Company's Board of Directors earlier today, W.A. Franke, chairman
        and chief executive officer, said, "The stock repurchase program
        reflects our belief that America West stock may be an attractive
        investment opportunity for the Company, and it underscores our
        commitment to enhancing long-term shareholder value.  The shares
        will be repurchased with cash on hand, but only if and to the extent
        the Company holds unrestricted cash in excess of $200 million to
        ensure that an adequate level of cash and cash equivalents is
        maintained."  Shares repurchased under the program will be held in
        the Company's treasury and will be available for a variety of
        corporate purposes, including use in connection with employee
        compensation programs and a shareholder- approved contribution to
        the Company's charitable foundation.

            Also today, America West filed a motion with the U.S. Bankruptcy
        Court seeking approval to distribute approximately 2.4 million
        shares of its Class B common stock.  The shares to be distributed
        were originally reserved in escrow to satisfy those claims of
        general unsecured creditors in the Company's 1991 bankruptcy case
        not resolved at the time the Company's Plan of Reorganization became
        effective in August 1994. Following the proposed distribution,
        approximately 700,000 shares will remain in escrow to be distributed
        upon resolution of the remaining 20 claims.  America West now has
        approximately 45 million shares of Class B common stock outstanding,
        including the shares proposed to be distributed and those remaining
        in escrow.  Subject to bankruptcy court approval, the distribution
        is expected to occur in October 1995.

            "The distribution of these shares is one of the final pieces of
        our successful financial reorganization," said Franke.  Only 20
        unsecured claims will remain unresolved from the more than 4,000
        filed during the Chapter 11 process.  With the exception of those
        claims, we can finally put the bankruptcy behind us.  America West's
        expansion plans, announced yesterday, and the stock repurchase
        program affirm the Company's focus on looking forward with a goal of
        maximizing long-term shareholder value."

            America West Airlines, the nation's ninth-largest carrier, flies
        to more than 90 destinations in the United States, Mexico and
        Canada, offering the same full service product travelers have come
        to expect from national airlines but with low fares.  At America
        West, "It seems silly to pay more."

        /CONTACT:  Michael Mitchell, Manager of Corporate Communications of
        America West, 602-693-5732/


            ELKINS PARK, Pa., Sept. 22, 1995 -- href="">Mortgage and Realty
(NYSE: MRT) announced today that the United States
        Court for the Central District of California has confirmed its
        prepackaged plan of reorganization.  MRT commenced its bankruptcy
        case under Chapter 11 of the Bankruptcy Code on August 18, 1995, to
        implement an agreement in principle reached with certain holders of
        MRT's Senior Secured Uncertificated Notes due 1995 which was
        incorporated into its prepackaged plan of reorganization.  The
        effective date of the plan of reorganization will occur as soon as
        practicable upon the completion of certain conditions and events.

            MRT is a self-administered real estate investment trust with a
        portfolio of over 72 commercial, industrial and other real estate
        assets.  MRT has offices in Elkins Park, Pennsylvania, and Burbank,

        /CONTACT:  Daniel F. Hennessey, Treasurer of Mortgage and Realty
        Trust, 215-881-1525/


            COLUMBIA, Missouri -- Sept. 22, 1995 -- Toastmaster
Inc. (NYSE:
        TM), manufacturer of electrical consumer appliances and time pieces,
        today announced that the bankruptcy of the href="chap11.caldor.html">Caldor Corporation, a
        major retailer, is anticipated to result in a charge to earnings
        during the third quarter of approximately $0.06 per share.
        Toastmaster had outstanding accounts receivable of approximately
        $1.6 million as of the date of Caldor's bankruptcy filing.
        Toastmaster has negotiated the transfer of its claim for payment in
        the bankruptcy proceeding in exchange for cash from a third party
        who has offered to make such a purchase.  The anticipated impact on
        Toastmaster's earnings was estimated after giving effect to the
        successful conclusion of such negotiations.

            Toastmaster Inc., with headquarters in Columbia, Mo., designs,
        manufactures, markets and services a wide array of electrical
        consumer appliances and time pieces under the brand names of
        Toastmaster(R) and Ingraham(R).

         /CONTACT: John E. Thompson of Toastmaster, 314-445-8666/


            BOSTON, Sept. 22, 1995 --  A former Ipswich man,
now living
        in Orlando, Florida, was sentenced today for concealing assets in
        his bankruptcy.

            United States Attorney Donald K. Stern stated that Ian S.
        Edwards, 59, of 2327 Whispering Maple Drive, Orlando, Florida, and
        formerly of Ipswich, Massachusetts, was sentenced today to 6 months
        in custody at a halfway house, to be followed by six months of home
        confinement as part of a three year term of supervised release.  The
        court also ordered Edwards to pay $25,000 in restitution and a
        $10,000 fine.

            Edwards was convicted in July after a three day jury trial of
        one count of bankruptcy fraud for concealing from his creditors and
        the bankruptcy trustee that he had an interest in a condominium
        located in Barbados.  The evidence presented at trial established
        that Edwards deeded the condo to his son shortly after entry of a
        substantial civil judgment against Edwards, then had it conveyed
        back a year after his bankruptcy.  During the entire time it was in
        his son's name, Edwards treated the condo as his own, and continued
        to claim it on his federal income tax returns.

            The case was investigated by agents of the Federal Bureau of
        Investigation, was referred by the U.S. Trustee in Boston, and was
        prosecuted by Assistant U.S. Attorney Mark J. Balthazard of Stern's
        Economic Crimes Unit.

        /CONTACT:  Kathleen Griffin or Anne-Marie Kent of the U.S.
        Attorney's Office, 617-223-9445/