TCR_Public/951019.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        CISTRON NET INCREASES IN FISCAL '95

        
            PINE BROOK, N.J., Oct. 19, 1995 -- A substantial increase
        in net income for the fiscal year ended June 30, 1995 was reported
        by Cistron Biotechnology, Inc.
        


            Cistron's 1995 net income was $279,276 or 1 cent per share
        versus a loss of $273,852 or a loss of 1 cent per share last year.
        Sales for the 12-month period were $649,949, down from $874,627 in
        fiscal 1994.
        


            Licensing income increased $980,000 in fiscal 1995 due to the
        company's license and supply agreement with R&D Systems, Inc., a
        subsidiary of TECHNE Corporation (Nasdaq: TECH).  R&D Systems also
        agreed to provide the company with $1 million in research funding,
        payable in quarterly installments over a 2-1/2 year period.
        


            Sales dropped in fiscal 1995 because of lower cytokine assay kit
        sales, increased worldwide competition that has depressed prices and
        decreased bulk sales of assay components.  Operating expenses
        increased by $222,000 in fiscal 1995 primarily as a result of
        ongoing litigation.
        


            The company has yet to collect the almost $3 million awarded to
        the company last October in its patent infringement case against
        PeproTech, Inc.  In July 1995,
PeproTech filed an amended appeal of
        the federal court's decision and filed for Chapter 11 protection.
        The appeal has been stayed as a result of the bankruptcy filing.
        


            Cistron's suit against Immunex Corp. (Nasdaq: IMNX), in which
        the company is seeking monetary damages for misappropriation of
        Cistron trade secrets, is still in the discovery stage and is
        scheduled for trial in April, 1996.  Immunex Corp. is an indirect
        subsidiary of American Home Products Corporation (NYSE: AHP).
        


            Cistron's primary product area is immune response regulators
        known as lymphokines.  The company manufactures and sells
        lymphokines and lymphokine assay kits to pharmaceutical companies,
        the government and academic institutions in North America, Europe
        and the Pacific Rim for cancer, arthritis and other autoimmune
        disease research.
        


                               FINANCIAL SUMMARY
                            12 months ended June 30
                                                         1995         1994
        Net Sales                                    $ 649,949    $ 874,627
        Net Income (Net Loss)                        $ 279,276    $(273,852)
        Earnings (Loss) Per Share                        $ .01        $(.01)
        Weighted Average Number
         of Shares Outstanding                      27,522,928   26,882,990

        /CONTACT:  Harold Smith of Hal Smith Associates for Cistron
        Biotechnology, Inc., 1-800-743-6632/



        F & M DISTRIBUTORS ANNOUNCES RESIGNATION OF DALE D. WARD
        


            WARREN, Mich., Oct. 19, 1995 -- F & M
Distributors, Inc.

        announced today the resignation of Dale D. Ward, its President and
        Chief Executive Officer and a member of its Board of Directors,
        effective immediately.  As a result of the downsizing of the F & M
        chain, the Company and Mr. Ward mutually agreed that it was in the
        best interest of F & M to permit Mr. Ward to pursue other interests.
        


            The Company currently is operating and managing its business as
        a debtor in possession under chapter 11 of the United States
        Bankruptcy Code.  The chapter 11 case was commenced by the Company
        on December 5, 1994, at which time 126 F & M super drug stores and
        six PartiGiant stores were in operation.  Today, the Company
        directly operates fifty-seven F & M super drug stores located
        primarily in the Detroit, Chicago and Baltimore/Washington market
        areas.
        


        /CONTACT:  Laura Kendall, SVP & Chief Financial Officer of F & M,
        810-758-1400, Ext. 251/




        TELEDYNE'S THIRD QUARTER NET INCOME INCREASES
79% TO $34.5 MILLION
        FROM $19.3 MILLION

        
            LOS ANGELES, Oct. 19, 1995 -- Teledyne, Inc.
(NYSE: TDY)
        announced today that net income for the third quarter ended
        September 30, 1995 increased 79 percent to $34.5 million, or $0.61
        per common share, from $19.3 million, or $0.35 per common share, for
        the same period of 1994.  Sales from continuing operations for the
        third quarter of 1995 increased 9 percent to $591.0 million from
        $544.1 million for the same period of 1994.
        


            "These results represent the fourth consecutive quarter of
        substantial operating income gains over the prior year and confirm
        again that implementation of our business plans continues to
        generate earnings momentum.  Income was up in all four segments.
        The overall rise in sales and income was led by specialty metals,
        which benefited from improved conditions in our worldwide markets,"
        said William P. Rutledge, chairman and chief executive officer, and
        Donald B. Rice, president and chief operating officer.
        


            "The Company continues to explore whether a sale of the Company
        or other major transaction will provide greater value than would be
        realized through our operating performance and other elements of our
        business plans.  The goal remains: do what's best for our
        shareholders," they added.
        


            Net income for the nine months ended September 30, 1995 was
        $131.4 million, or $2.35 per common share, compared to a net loss of
        $24.8 million, or $0.45 per common share, for the same period of
        1994. Excluding an after-tax gain of $30.3 million on the sale of
        Teledyne Electronic Systems, income for the nine months of 1995
        doubled to $101.1 million, or $1.80 per common share, when compared
        to nine month 1994 income of $50.2 million, or $0.90 per common
        share, excluding after-tax charges of $75.0 million to resolve
        certain U.S. government contracting issues.  Sales from continuing
        operations increased 19 percent to $1.92 billion for the nine months
        of 1995 compared to $1.62 billion for the same period of 1994.
        


        Results of Operations


        Aviation and Electronics


            Sales from continuing operations increased to $224.4 million for
        the third quarter of 1995 from $218.0 million in the same period of
        1994 and increased to $785.7 million for the nine months of 1995
        from $644.3 million for the same period of 1994.   During the third
        quarter and nine months of 1995, sales increased due to commencement
        of development work on the United States' new High Altitude
        Endurance Unmanned Aerial Surveillance/Reconnaissance Vehicle, the
        Tier II Plus program.  Sales also improved during these periods for
        electronic countermeasure equipment for the international market,
        microwave devices and electromechanical relays for government and
        commercial customers, and avionics for the commercial aviation
        market.  These increases were partially offset by a decline in
        aerial target sales due to use of government furnished engines that
        lowered costs per target.  The completion of a contract to provide
        ground power generators to the U.S. Air Force increased sales $80
        million for the nine months of 1995 over the prior year period.  In
        addition, sales  of fabricated products for the U.S. armed forces
        and piston engines for the general aviation market resulted in
        improved sales for the nine months of 1995 over the same period of
        1994.

        
            Operating profit from continuing operations increased to $22.9
        million for the third quarter of 1995 from $20.5 million for the
        same period of 1994.  For the nine months of 1995, operating profit
        increased to $78.2 million from $48.6 million for the same period of
        1994, excluding charges of $88.8 million to resolve certain U.S.
        government contracting matters in 1994.  Operating profit for the
        1995 third quarter and nine months increased primarily due to  the
        higher sales described above, improved earnings on unmanned air
        vehicles, aerial targets and systems engineering services, and
        reduced losses on wire and cable products.  The reversal of
        estimated losses of $10.7 million as a result of the completion of
        the ground power generator contract discussed above also contributed
        to operating profit for nine months of 1995.  The improvements in
        operating profit for the third quarter and nine months of 1995 were
        partially offset by lower margins on piston engines for the general
        aviation industry.
   

     
        Specialty Metals
      

      Sales from continuing operations increased to $212.1
million for
        the third quarter of 1995 from $173.2 million for the same period of
        1994 and increased to $642.4 million for the nine months of 1995
        from $524.6 million for the same period of 1994.  Sales increased
        primarily due to the improvement in the worldwide markets served by
        Teledyne's specialty metals businesses, particularly in the
        automotive, commercial aerospace, power generation, cutting tool and
        other industrial markets.

        
            Operating profit from continuing operations increased to $19.7
        million for the third quarter of 1995 from $7.5 million for the same
        period of 1994 and increased to $66.9 million for the nine months of
        1995 from $31.7 million for the same period of 1994.  The
        improvement in operating profit in the third quarter and nine months
        of 1995 was primarily the result of increased sales, improved
        margins in nickel and titanium-based alloys and specialty steels,
        and the strong performance of thin rolled and tungsten-based
        products, partially offset by lower margins on zirconium products.
        Operating profit for the 1995 third quarter and nine months was
        adversely affected by legal costs associated with the resolution of
        export license cases, and decreased productivity in zirconium
        products in the midst of protracted labor negotiations, which have
        since been settled.  Costs associated with installing a new high
        capacity mill and opening a new international service center for
        distribution of thin rolled products also negatively affected
        operating profit for both periods.

        
        Industrial
   

         Sales from continuing operations decreased to $72.6
million for
        the third quarter of 1995 from $77.7 million for the same period of
        1994 and increased to $250.9 million for the nine months of 1995
        from $225.4 million for the same period of 1994.  For the 1995 third
        quarter and nine months, sales improved in metal stamping dies and
        plastic compression molds for the automotive and truck markets, and
        in nitrogen cylinder systems for the metal stamping industry.  Sales
        of material handling equipment also improved during both periods
        primarily as a result of the January 1995 acquisition of the
        material handling business of Kooi Beheer B.V.  Kooi is a
        Netherlands company that is Europe's largest supplier of truck-
        mountable, self-propelled material handlers. For the 1995 third
        quarter, sales declines related to land combat vehicle development
        and tank engines exceeded the sales improvements discussed above.
        In addition, for the nine months of 1995 sales of crash fire
        vehicles to the U.S. Air Force increased while land combat vehicle
        development sales declined compared to the same period of 1994.
      

  
            Operating profit from continuing operations increased to $3.0
        million for the third quarter of 1995 from $2.7 million for the same
        period of 1994 and increased to $14.0 million for the nine months of
        1995 from $2.5 million for the same period of 1994.  Operating
        profit for the third quarter and nine months of 1995 was affected by
        the changes in sales discussed above, a gain on sale in the 1995
        third quarter of an industrial valve product line, and improved
        profitability of pressure relief valves.  In addition, operating
        profit for both periods was adversely affected by costs associated
        with the Kooi acquisition, plant rationalization expenses, and
        decreased margins on certain machine tools as a result of a labor
        dispute.

        
        Consumer
   

         Sales from continuing operations increased to $81.9
million for
        the third quarter of 1995 from $75.2 million for the same period of
        1994 and increased to $236.9 million for the nine months of 1995
        from $224.9 million for the same period of 1994.  Sales increased
        for the third quarter and nine months in part due to three new
        product introductions; the Sensonic(TM) Plaque Removal Instrument,
        the Pour-Thru Water Filter(TM) device, and the MAXX-PURE(TM) ozone
        sanitizing system for swimming pools.  Also, sales increased for
        commercial and residential heating systems, offset by decreased
        sales of pool products as a result of poor weather conditions and a
        slowdown in spending on consumer durables.  This slowdown is causing
        retailers generally to be cautious as they consider inventory
        stocking levels.  Housewares industry experts expect retailers to
        postpone early Christmas orders in the wake of a poor third quarter
        performance.
      

  
            Operating profit from continuing operations increased to $5.6
        million for the third quarter of 1995 from $4.0 million for the same
        period of 1994 and decreased to $12.2 million for the nine months of
        1995 from $14.4 million for the same period of 1994.  The 1995
        results were adversely affected by advertising and start-up costs
        for the three new products discussed above and the decrease in sales
        of pool products.
        


        Corporate Expense
           

Corporate expense increased to $18.9 million for the third
        quarter of 1995 from $15.1 million for the same period of 1994 and
        increased to $62.3 million for the nine months of 1995 from $49.4
        million for the same period of 1994.  Corporate expense increased
        for the 1995 third quarter primarily due to warranty expenses
        related to closed businesses. For the 1995 nine months, corporate
        expense increased primarily due to legal and advisory fees
        associated with an unsolicited merger proposal and ensuing proxy
        contest and increased warranty expenses for closed businesses.
        


        Pension Income
           

Teledyne's non-cash pension income recorded the amount by
which
        the amortization into income of pension surplus and estimated return
        on plan assets exceeded the current year's cost of providing
        benefits.  Pension income before tax was $18.3 million for the third
        quarter of 1995 compared to $18.9 million for the same period of
        1994 and was $60.5 million for the nine months of 1995 compared to
        $56.6 million for the same period of 1994.  The change in pension
        income was a result of a higher expected return on pension assets
        and a change in discount rate used to calculate the pension benefit
        obligation partially offset by a change in mortality assumptions.

        
        Other Income
   

         In July 1995, the New Piper
Aircraft
Company emerged from
        bankruptcy with Teledyne holding 25 percent ownership and an option
        to purchase an additional 25 percent in resolution of its major
        creditor position.  As a result, Teledyne recognized a gain of $5.9
        million, included in other income, to reflect Teledyne's ownership
        interest in New Piper.
      

  
        Income Taxes
         

   The Company's effective tax rate decreased to 28 percent
for the
        1995 third quarter from 37 percent for the same period of 1994 and
        decreased to 35 percent for the 1995 nine months from 41 percent for
        the same period of 1994.  These decreases resulted from a reduction
        in the Company's prior year's tax liabilities.
        


            Teledyne is a technology-based manufacturing company serving
        worldwide customers with commercial and government-related aviation
        and electronics products; specialty metals for consumer, industrial,
        and aerospace applications; and industrial and consumer products.
        


        Teledyne, Inc. and Subsidiaries
        (In millions)
                                     Quarter Ended      Nine Months Ended
                                     September 30,        September 30,
                                     1995     1994      1995        1994
        
        Sales:
        
        Aviation and electronics:
          Continuing                $224.4   $218.0   $  785.7   $  644.3
          Discontinued                   -     29.5          -      107.2
                                     224.4    247.5      785.7      751.5
        Specialty metals:
          Continuing                 212.1    173.2      642.4      524.6
          Discontinued                 0.3      0.4        1.2        1.3
                                     212.4    173.6      643.6      525.9
        Industrial:
          Continuing                  72.6     77.7      250.9      225.4
          Discontinued                 1.7      4.1        8.1       19.1
                                      74.3     81.8      259.0      244.5
        Consumer:
          Continuing                  81.9     75.2      236.9      224.9
          Discontinued                   -        -          -          -
                                      81.9     75.2      236.9      224.9
        Total:
          Continuing                 591.0    544.1    1,915.9    1,619.2
          Discontinued                 2.0     34.0        9.3      127.6
                                    $593.0   $578.1   $1,925.2   $1,746.8
        
        Teledyne, Inc. and Subsidiaries
        (In millions except per share amounts)
        
                                       Quarter Ended    Nine Months Ended
                                       September 30,       September 30,
                                       1995      1994     1995       1994
        Operating Profit (Loss):
        Aviation and electronics:
          Continuing                  $ 22.9   $ 20.5    $ 78.2    $(40.2)
          Discontinued                     -      1.4         -     (38.9)
          Pension income                 4.6      3.1      13.6       9.6
                                        27.5     25.0      91.8     (69.5)
        Specialty metals:
          Continuing                    19.7      7.5      66.9      31.7
          Discontinued                     -        -         -       5.3
          Pension income                 2.0      2.3       6.2       6.5
                                        21.7      9.8      73.1      43.5
        Industrial:
          Continuing                     3.0      2.7      14.0       2.5
          Discontinued                   0.2      0.2       0.4       2.2
          Pension income                 6.5      6.5      19.4      19.4
                                         9.7      9.4      33.8      24.1
        Consumer:
          Continuing                     5.6      4.0      12.2      14.4
          Discontinued                     -        -         -      (3.1)
          Pension income                   -        -       0.1         -
                                         5.6      4.0      12.3      11.3
        
        Total Continuing                51.2     34.7     171.3       8.4
          Discontinued                   0.2      1.6       0.4     (34.5)
                                        51.4     36.3     171.7     (26.1)
        
        Corporate expense:
          Salaries and benefits         (4.8)    (4.8)    (16.1)    (14.2)
          Closed businesses' expenses   (5.4)    (2.1)     (9.9)     (6.2)
          Other                         (8.7)    (8.2)    (36.3)    (29.0)
        Interest expense               (10.5)   (11.3)    (31.5)    (32.3)
        Pension income                  18.3     18.9      60.5      56.6
        Other income                     7.5      2.0      64.4       9.4
        Income (Loss) Before Taxes      47.8     30.8     202.8     (41.8)
        Provision (Credit) for Taxes    13.3     11.5      71.4     (17.0)
        
        Net Income (Loss)               34.5     19.3     131.4     (24.8)
        Preferred Stock Dividends        0.4        -       0.9         -
        Net Income (Loss) Applicable
         to Common Shareholders       $ 34.1   $ 19.3    $130.5    $(24.8)
        
        Net Income (Loss)
         Per Common Share             $ 0.61   $ 0.35    $ 2.35    $(0.45)
        
            Average shares - There were 55,699,922 and 55,610,035 shares of
        common stock outstanding during the three and nine months ended
        September 30, 1995, respectively, and 55,446,334 and 55,443,279 for
        the three and nine months ended September 30, 1994, respectively.
      

  
            Note - In January 1995, the Company sold substantially all
        business and assets of Teledyne Electronic Systems at a pretax gain
        of $50.7 million, included in other income.  Sales and operating
        results for Teledyne Electronic Systems for 1994, including charges
        of $35.0 million for the nine months of 1994 to resolve certain U.S.
        government contracting issues, have been reclassified and presented
        in discontinued results.  In addition, sales and operating results
        for prior periods have been reclassified for realignment of certain
        business units and to conform with the September 1995 presentation.
        


        /CONTACT:  Rosanne O'Brien of Teledyne, Inc., 310-551-4265; or Fred
        Spar or Adam Weiner of Kekst and Company, 212-593-2655/




        TORCHMARK CORPORATION REPORTS THIRD QUARTER EARNINGS

        
            BIRMINGHAM, Ala., Oct. 19, 1995 -- Torchmark
Corporation
        (NYSE: TMK) reported today that net operating income per share,
        which excludes realized gains and losses and the related adjustment
        to deferred policy acquisition costs, was $2.94 for the nine months
        ended September 30, 1995, compared to $2.87 in the year-ago period.
        Net income was $200 million, or  $2.79 per share, versus $205
        million, or $2.83 per share, in the first nine months of 1994.
        


            In the third quarter, net operating income per share was $1.00
        compared to $.92 In the year-ago period.  Net income was $61
        million, or $.85 per share, versus $65 million, or $.90 per share,
        in the third quarter of 1994.
        


            In the third quarter, Torchmark wrote off its investment in
Southwestern Life Corporation [now
known as I.C.H. Corporation], which has filed for
Chapter 11
        bankruptcy protection.  The write-off reduced net income for the
        nine months and the third quarter by $15 million or $.21 per share.
        The write-off reduced shareholders' equity by $3 million for the
        quarter because the investment had been carried at market value at
        June 30, 1995.
        


            R.K. Richey, Chairman and CEO, said that pre-tax operating
        income increased 15% to $340.3 million:
        


                                        Millions of Dollars
                                                              Excluding
                                                           American Income
                                 9 Mos.   %     9 Mos.    %     9 Mos.   %
                                  1995   Prem.   1994    Prem.   Prem.
        Underwriting Income
          before Administrative
          Expenses
        
          Life                  $155.6   27.1%  $119.9  27.6%  $121.5  26.4%
          Health                 114.3   20.3%   111.0  19.1%   103.2  19.1%
          Annuity                  8.9             6.4            8.9
          Total                  278.8           237.3          233.6
        Other Income               2.3             2.7            2.3
        Administrative Expenses   79.7    6.9%    67.1   6.5%    73.8   7.3%
        Net Investment Income    279.8           244.9          250.0
        Required Investment
          Income:
          Reserves              (207.6)         (176.6)        (187.8)
          Interest Income
            on DAC                66.7            54.2           56.8
        Required Investment
          Income:
          Net Liabilities       (141.0)         (122.5)        (131.0)
        Pre-tax Operating
          Income......              340.3           295.3          281.1
        
            ......Pre-tax operating income less net investment income and
        required interest on reserves is the pre-tax insurance operating
        income reported in prior periods.  For the nine months of 1995, pre-
        tax insurance operating income was $268.1 million compared to $227.0
        million in 1994.
      

  
            Excluding American Income, which was acquired in late 1994,
        underwriting income before administrative expenses declined 2% or
        $3.7 million as a result of (1) higher life insurance policy
        obligations (42.6% vs. 41.7% of premium), and (2) lower premium
        income from health insurance operations ($540.7 vs. $581.4 million).
        Higher administrative expenses, partly due to litigation at Liberty
        National, and lower investment income also contributed to lower pre-
        tax operating income.
        


            American Income's net income for the nine months was $13
        million, or $.18 per share.
        


            Life Insurance sales increased 54% to $161.9 million, and sales
        by distribution system were as follows:
        


                                            Millions of Dollars
                                    9 Mo. 95      9 Mo. 94       Change
        
        Direct Response               $48.5         $35.0          38%
        American Income Agency         36.5         ---            ---
        United American Agencies       19.0           7.8         144%
        Liberty National Home Service  36.4          38.5         (6)%
        United Investors Agency         7.7           6.2          23%
        Other                          13.8          17.5         (21)%
        Total                         161.9         105.0          54%
        

            Health insurance sales declined 17% to $79.4 million.   Medicare
        supplement sales declined 28% to $51.0 million.
        


            The company's emphasis on the growth of life insurance premiums
        is illustrated by its annualized premium in force of $854.3 million,
        which is an increase of $213.7 million, or 33% from a year ago.
        (American Income accounted for $163.5 million of the increase.)
        Health insurance annualized premium in force declined 3% to $767.1
        million.
        


            Litigation continues to be a drag on Liberty National's
        operations, Almost all of the punitive damage litigation facing
        Liberty is filed in the state courts of Alabama, a jurisdiction
        known for large punitive awards.  At year-end 1994, Liberty had
        approximately 129 cases pending in Alabama which sought an award of
        punitive damages.  There are currently 161 such active Alabama
        cases.  Through the third quarter of 1995, Liberty has been served
        with 96 Alabama punitive damage cases, as compared to approximately
        106 cases through a similar period last year. In addition, Liberty
        faces 77 stayed cases which seek punitive damages arising out of the
        exchange of cancer policies.  If the Robertson class action
        settlement is ultimately affirmed on appeal, these stayed cases will
        be concluded.  Liberty is awaiting a ruling by the Alabama Supreme
        Court in Robertson.  There have been no new developments in that
        case. However, the longer than expected  time to obtain this ruling
        has lengthened the duration of the temporary rate-freeze imposed by
        the Robertson settlement on a significant portion of Liberty's
        cancer policies.  This delay has and will continue to have an
        adverse effect on the underwriting margin in Liberty's cancer
        business.  Liberty continues to vigorously defend itself against an
        array of cases in the state courts of Alabama, wherein plaintiffs
        frequently seek to predicate substantial punitive damage liability
        upon nominal actual damages.

        
            Pre-tax noninsurance operating income was up 1% to $71 million.
        Waddell & Reed's pre-tax operating income increased 7% to $67
        million due to improving sales and increased management fee income.
        For the third quarter, Waddell & Reed's pre-tax operating income was
        $24.4 million, up 25% from a year ago and up 13% from the second
        quarter of 1995.  Waddell & Reed's increase in year-to-date earnings
        was offset by a decline in Torch Energy's earnings due to last
        year's recognition of a nonrecurring $5 million product marketing
        gain.
   

     
            The Black Warrior energy project lost $3 million, or $.04 per
        share, on an after-tax basis, compared to $5 million, or $.07 per
        share, in the first nine months last year.  In the third quarter,
        the loss was $600 thousand, or $.01 per share, versus a $2.1 million
        loss, or $.03 per share, in the year-ago quarter.  Tax-equivalent
        net investment income for this nine months, excluding energy
        investments, was $287 million, up 6% from $271 million in the year-
        ago period.

        
            Total revenue was $1.6 billion, compared to $1.4 billion in the
        first nine months of 1994.  Life premium grew 32% to $574 million
        and health premium declined 2% to $568 million.  Financial services
        revenue increased 5% to $111 million.
   

     
            Investment product collections decreased 11% to $828 million for
        the nine months.  Collections for the quarter were $297 million, up
        7% from the second quarter, up 17% from the first quarter, and up
        13% from 1994's third quarter.  Mutual fund and institutional assets
        under management increased 21% from a year ago to $17.8 billion.
      

  
            Return on common equity excluding SFAS 115 was 18.3%. Total
        assets at the end of September were $9.3 billion, and shareholders'
        equity was $1.6 billion.  Book value per common share was $22.25
        ($21.42 excluding the effect of SFAS 115).
        


        /CONTACT:  Lee Bartlett for Torchmark Corporation, 205-325-4204/




Global Casinos Inc. announces Chapter 11
        bankruptcy of Bull Durham

           DENVER, Colorado--Oct. 19, 1995--Global
Casinos Inc.
        (NASDAQ:GBCS) announced today that it has caused one of its wholly
        owned subsidiaries, Casinos U.S.A.
Inc.
, to file a voluntary
        petition under Chapter 11 of the United States Bankruptcy Code.
        


            Casinos U.S.A. owns and operates the Bull Durham Saloon and
        Casino in Black Hawk, Colo.
        


            The petition for reorganization came in the wake of unsuccessful
        efforts of the company to reach agreements with its secured
        creditors to restructure the approximate $4.7 million in mortgages
        against the Bull Durham.  Certain mortgage holders had already
        commenced foreclosure proceedings.
        


            The company will continue to operate the Bull Durham as debtor-
        in-possession and hopes to develop a restructuring of its secured
        debt with the cooperation of its creditors under a plan of
        reorganization.  The filing is not expected to have a material
        impact upon the overall consolidated operations of Global Casinos,
        the parent company.
        


        CONTACT:  Global Casinos,
                  Stephen G. Calandrella, 719/590-4900
        




SEARCH CAPITAL AND CREDITORS GROUP REACH
        CONSENSUS ON TERMS OF $68 MILLION DEBT-TO-EQUITY EXCHANGE

        
            DALLAS, Texas--Oct. 19, 1995--George C.  
Evans,
        Chairman and CEO of Search Capital
Group, Inc.
  ("Search"), today
        reported that Search had reached a preliminary agreement of
        understanding with the Official Creditors' Committee that represents
        the Noteholders of Search's non-recourse securitization subsidiaries
        ("Funds") that are under Chapter 11 bankruptcy protection.  The
        preliminary agreement of understanding's terms are subject to
        documentation and will be incorporated in a plan of reorganization.
        Such plan and its related disclosure statement is subject to court
        and Noteholder approval.  The plan provides for the sale of the
        Noteholders' notes of approximately $68 million to Search in
        exchange for its preferred and common stock.  
        


            "We are pleased that we have reached this preliminary agreement
        with the Creditors' Committee after weeks of tough negotiations.  We
        are now in agreement on an structure that will allow us to proceed
        with the rebuilding of Search as a premier contender in the sub-
        prime auto finance arena." stated Mr. Evans.  
        


            On August 14, 1995, the eight Funds filed voluntary petitions
        for reorganization under Chapter 11 of the Bankruptcy Code.
        Although the bankruptcy filings were made with Search as a co-
        proponent of the Funds' joint plan of reorganization, Search,
        itself, did not file for bankruptcy protection.  The U.S.  Trustee's
        Office appointed a committee to represent the Noteholders of the
        Funds during the bankruptcy proceeding.  Since that time Search has
        been negotiating the terms of the Joint Plan of Reorganization with
        the Committee.  To date, the Court has allowed the Funds to continue
        operating in an ordinary course of business.  
        


            Search Capital Group, Inc.  is a specialized financial services
        company engaging in the purchase, management and securitization of
        used motor vehicle receivables.  Search shares (SRCG.OB) are
        currently being traded on the OTC Bulletin Board.  
        


        CONTACT: George C. Evans,
                 Chairman, President &
                 Chief Executive Officer,
                 Search Capital Group, Inc.
                 (214) 965-6000
        




        TOASTMASTER REPORTS THIRD QUARTER RESULTS
        


            COLUMBIA, Missouri--Oct. 19, 1995--Toastmaster
Inc.,
        manufacturer of electrical consumer appliances and time pieces,
        today reported decreased sales for the quarter ended September 30,
        1995. Sales for the quarter ended September 30, decreased 2.6% to
        $56.4 million in 1995 from $57.9 million in 1994.  Net income for
        the three months ended September 30, 1995 was $1.0 million or $.13
        per share, compared to net income of $2.3 million or $.30 per share
        for the three months ended September 30, 1994.  Sales for the nine
        months ended September 30, 1995 decreased 4.6% from $129.6 million
        in 1994 to $123.7 million in 1995.  The net loss for the nine months
        ended September 30, 1995 was  $0.7 million or $.10 per share,
        compared to net income of $1.6 million or $.21 per share for the
        nine months ended September 30, 1994.
        


            "Sales continued to be quite strong in Bread Box(TM) breadmakers
        for this quarter," said Robert H. Deming, chairman of the board of
        directors. "Nevertheless, our results were negatively impacted by
        the continued general slowdown of retail sales and the previously
        disclosed bankruptcy of Caldor
Corporation
, a major retailer.
        Toastmaster negotiated the transfer of its bankruptcy claim for a
        cash payment from a third party.  The net loss, after the cash
        payment, attributable to the Caldor situation was $.08 per share. We
        believe we have the right product with excellent retail placement,
        and we are hopeful that the fourth quarter of 1995 will show
        improved retail performance. A sharp reduction in environmental
        products revenues offset a 2% increase in kitchen appliance revenues
        and a 6% increase in time products revenues over the third quarter
        of 1994.
        


            Gross margins for the third quarter were negatively impacted by
        heavy returns from retailers, higher sales of lower margin products
        and higher raw material and purchased parts costs than the previous
        year. Production rates were slowed during the later part of the
        quarter to minimize the inventory in relation to the sales slowdown.
        This also negatively impacted gross margins by reducing our
        manufacturing efficiencies."
        


            Daniel J. Stubler, president and chief operating officer, said,
        "Inventories increased during the third quarter of 1995, to $49.5
        million at September 30, 1995 from $45.8 million at September 30,
        1994. The increase was primarily due to the slow down in retail
        purchasing. We hope to make progress on inventory reductions during
        the last quarter of 1995."
        


                                TOASTMASTER INC.
                       Financial Summary and Comparisons
                    (dollars in thousands, except per share)
        
                              Three Month Results
                      For the Quarter ended September 30,
        
                                       1995                  1994
        
        Net sales                   $56,356               $57,865
        Net income                     $962                $2,271
        Net income per share           $.13                  $.30
        Weighted average common
         and common
         equivalent shares
         outstanding (in thousands)   7,553                 7,589
        
                               Nine Month Results
                       For the Period ended September 30,
        
                                       1995                  1994
        
        Net sales                  $123,711              $129,572
        Net income (loss)             $(738)               $1,561
        Net income (loss) per share   $(.10)                 $.21
        Weighted average common
         and common equivalent shares
         outstanding (in thousands)   7,564                 7,589
        
            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).  For further information, please
        contact John E. Thompson, executive vice president, Toastmaster
        Inc., 1801 North Stadium Blvd., Columbia, MO 65202.  The telephone
        number is (314) 445-8666.
      

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