TCR_Public/950927.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        NASDAQ AFFIRMS DENIAL OF NEW VALLEY CORPORATION'S APPLICATION TO
        LIST EQUITY SECURITIES

        
            MIAMI, Florida -- Sept. 27, 1995 -- href="chap11.newvalley.html">New Valley Corporation (OTC
        Bulletin Board: NVLY) announced today that the Nasdaq Hearing Review
        Committee affirmed the Nasdaq Listing Qualifications Committee's
        denial of New Valley's application to list its equity securities on
        the Nasdaq National Market because it was unable to satisfy certain
        listing standards.
        


            During the first quarter of fiscal 1995, New Valley emerged from
        bankruptcy reorganization proceedings and in connection with its
        Plan of Reorganization, agreed to exercise best efforts to list its
        equity securities.  New Valley's equity securities are currently
        traded on the OTC Bulletin Board under the symbols NVLY, NVLYA and
        NVLYB.
        


        /CONTACT:  George Sard or Anna Cordasco of Sard Verbinnen & Co.,
        212-687-8080/




        CVD FINANCIAL CORPORATION ANNOUNCES TERMS OF ITS EXCHANGE OFFER TO
        HOLDERS OF ITS VARIABLE RATE BONDS DUE JULY 2008
       


            VANCOUVER, B.C., Sept. 27, 1995 -- CVD Financial
        Corporation (OTC Bulletin Board:  CVDF) announced today the terms of
        its exchange offer to holders of its Variable Rate Bonds.
        


            The exchange offer is being made as part of a recapitalization
        of and change in business purpose of the Company.  The Company
        currently has outstanding approximately $42.3 million in principal
        amount of its Variable Rate Bonds due 2008.
        



        
Offer
         For each $1,000 in principal amount Variable
Rate
                      Bond plus accrued interest thereon, the holder will
                      receive the following:
        

                
  • 472 shares of the Company's Common Stock
                
  • A 5 year warrant to acquire an additional 472
                             shares of the Company's Common Stock
                             exercisable at $2.00 per share
            

        Conditions
   In addition to obtaining certain regulatory
                      approvals, the following conditions are necessary
                      to complete the exchange:
        

                          
  •   Holders of at least 75% in principal amount of
                             the outstanding Variable Rate Bonds must
                             accept the exchange offer.
            
                          
  •   Holders of a majority in principal amount of the
                             outstanding Variable Rate Bonds must approve the
                             following changes to the related bond indenture:
                             

                               
    • Modification of the terms of the indenture to
                                  facilitate issuance of additional types of
                                  indebtedness.
                               
    • Removal of the restrictions on the Company's
                                  business purpose.
                               
    • Elimination of the change in control provision
                                  and certain financial covenants.
                               

                          
  •   A majority of the shareholders must approve the
                             following:
                            

                               
    • Removal of the restrictions on the Company's
                                  business purpose.
                               
    • Increase in the Company's authorized capital.
                               
    • Change in the name of the Company.
                               
    • Change to staggered terms for directors.
                               
    • Creation of a stock option plan for employees
                                  and directors that will be authorized to issue
                                  up to 5% of the Company's Common stock.
                               
    • Following closing of the exchange offer,
                                  consolidation of the Company's common shares
                                  with four old shares being exchanged for one
                                  new share.
                                

        Stock Sale
    Upon successful completion of the exchange
offer,
                      Ballinger Corporation, currently the Company's largest
                      shareholder, has agreed as follows:
        

                          
  •   To purchase 6,289,308 shares of the Company's
                             Common Stock and a 5 year warrant to acquire an
                             additional 6,289,308 shares with an exercise price
                             $2.00.
            

                  
    • The purchase price for the shares and
      warrant is
                                  $10.0 million, or $1.59 per share.
                      
    • The purchase price will be paid in cash
      and/or
                                  other assets valued by an independent third
                                  party.
              

                          
  • To enter into certain agreements under which it
                             will provide management services to the Company.
                             Ballinger will receive a fee of $2,250,000 for
                             these services.  The fee will be payable in
                             1,415,094 shares of the Company's Common Stock
                             valued at $1.59 per share.
            


        Business Plan
   

        The Company was formed in June 1993 to make asset based
        commercial loans.  CVD Financial's new management team has developed
        a business plan which emphasized financial services and merchant
        banking activities, including acquiring controlling interests in
        operating companies.  To implement the new plan, as discussed above,
        existing shareholders and holders of the Variable Rate Bonds must
        remove current restrictions on the Company's allowable business
        purposes.  Under its new plan, it is likely that the Company will
        originate few, if any, asset based commercial loans.
      

  
        Variable Rate Bonds
        

The Company was late in making its most recent semi-annual
        Variable Rate Bond interest payment.  In addition, as previously
        announced, the Company has failed to satisfy the net worth ratio
        requirement contained in the Variable Rate Bond Indenture.  As a
        result, the trustee, in certain circumstances, may declare an event
        of default, which if not cured, could result in the Bonds being
        called.  To date, the trustee has not declared an event of default.
        However, should the failure to satisfy the debt covenant remain
        ongoing, there is a significant risk that the Company will be unable
        to obtain the additional capital or liquidity necessary to retire
        the Bonds should the pending default not be cured and the Bonds are
        called.  The proposed exchange offer and stock sale would cure the
        existing covenant violation.

        
            Upon completion of the exchange offer and the stock sale, the
        relative ownership of the Company and the book value per share based
        upon 75% and 100% acceptance by the holders of the Variable Rate
        Bonds would be as follows on a primary basis:
   

     
                                                 75%           100%
                                            Acceptance     Acceptance
        
        Holders of Variable Rate Bonds           59%            66%
        Ballinger Corporation                    34%            28%
        Existing shareholders other than
          Ballinger Corporation                   7%             6%
                                                100%           100%
        
        Book value per share                  $1.50          $1.59
          (as of June 30, 1995, prior to
           share consolidation)
        


            Upon completion of the exchange offer, it is the Company's
        intention to seek a listing on the Nasdaq National Market System for
        its common shares.  It is not the Company's intention to seek a
        listing for the Variable Rate Bonds.
        


            It is the company's intention to mail the exchange offer to
        bondholders on or before October 31, 1995, to hold its annual
        general meeting of shareholders on December 15, 1995, and to close
        the exchange offer by December 19, 1995.  The Company has received
        indications of support for the offering from holders of a
        substantial amount of the outstanding bonds.
        


            Should the exchange offer not be successful and the Bonds are
        ultimately called, the Company would have to pursue all available
        options, including attempting to raise additional capital, a merger,
        a sale of assets, and the possibility of reorganizing under federal
        bankruptcy laws.
        


        /CONTACT:  Rene Randall of CVD Financial Corporation,
        604-683-5312/




        TRITON REACHES AGREEMENT TO SELL WESTERN METAL LATH

        
            SAN DIEGO, California -- Sept. 27, 1995 --
Triton Group Ltd. (AMEX: TGL)
        today announced that it has reached agreement to sell Western Metal
        Lath to Marubeni America Corporation in a transaction valued at
        approximately $11 million.  The sale, which is subject to completion
        of the purchaser's due diligence and regulatory approval, is
        expected to close by early November 1995.  Triton will receive $3
        million for its interest in the company.
        


            Commenting on the agreement, John Stiska, Triton's CEO, stated,
        "We are pleased to announce this sale transaction which is both
        consistent with our value-recognition strategy and provides Western
        Metal with an ideal strategic owner.  Under the leadership of Don
        Moody, its president, Western has positioned itself to better serve
        its core metal construction products customers and to lead the
        development of the residential steel framing business.  We believe
        that Marubeni can and will provide the resources and expertise to
        fully realize Western Metal's opportunities."
        


            Triton also announced that it expects to receive by the end of
        October the first and largest distribution with respect to its claim
        in the Liquor Barn bankruptcy proceedings.  Triton reported earlier
        that it had resolved certain disputes with the creditors committee
        and expects to receive approximately $3 million cash for its claim.
        


            In addition to Western Metal, Triton also owns 25.4% of The
        Actava Group Inc. (NYSE: ACT) and 49.4% of Mission West Properties
        (AMEX: MSW).
        


        /CONTACT:  Michael M. Earley, president and COO, or Mark G. Foletta,
        senior VP and CFO, of Triton, 619-231-1818/