TCR_Public/951115.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



JAMESWAY COMMENCES PROGRAM TO SELL REAL ESTATE
        HOLDINGS

        
            SECAUCUS, N.J.--November 15, 1995--href="chap11.jamesway.html">The Jamesway
        Corporation
announced today that it has begun a program to
sell its
        real estate interests as part of the liquidation of the company.
        Jamesway has begun to seek buyers for its real estate assets and is
        already receiving offers.  
        


            Michael J. Sherman, Executive Vice President-Special Projects,
        said, "Now that the going-out-of-business sales have begun, we are
        turning our attention to realizing the economic value of our real
        estate for the benefit of our creditors and equity holders.  We hope
        to receive significant proceeds for our below-market leaseholds and
        our three owned properties."  
        


            Jamesway's real estate assets include one 812,000 square foot
        warehouse in Cranbury, NJ; its headquarters building in Secaucus,
        NJ; and 90 store locations throughout New York, New Jersey,
        Pennsylvania, Delaware, Maryland, Virginia, and West Virginia.
        Jamesway stores range in size from 38,000 square feet to 100,000
        square feet.  
        


            Anyone interested in more information about the available
        properties can contact Ken Simon, Vice President-Real Estate, at
        (201) 330-6209 [fax: (201) 330-3990] or Michael Sherman, Executive
        Vice President- Special Projects, at (201) 330-6127.  
        


            Jamesway is operating under Chapter 11, and going-out-of-
        business sales are in-progress at all 90 of its store locations.  
        


        CONTACT:  Jason Lynch/Jim Fingeroth,
                  Kekst and Company
                  (212) 593-2655
        




        XPLOR ANNOUNCES THIRD QUARTER RESULTS:  AGREES TO SETTLE COLUMBIA
        GAS BANKRUPTCY CLAIM FOR $2.1 MILLION

        
            DENVER, Nov. 15, 1995 -- Xplor Corporation (Nasdaq
        SmallCap: XPLR) announced results for the third quarter and nine
        months ended September 30, 1995.  For the most recent quarter, the
        Company reported a loss of $280,000 compared with a loss of $156,000
        for the same quarter last year, due primarily to a $236,000
        valuation allowance recognized in the third quarter of 1995.  For
        the nine months, the Company reported a loss of $551,000 compared
        with a loss of $310,000 for the same period in 1994.  This is
        primarily the result of a $239,000 provision for asset impairment
        and abandonment expense for two of the Company's wells, one operated
        and one non-operated well, located in Colorado and Texas,
        respectively.  Additionally, natural gas prices remained soft during
        the first part of 1995, and the Company recognized lower revenues
        from non-operated wells, as well as the absence of revenue from
        wells sold previously in 1995.
        


            The Company also reported that it has agreed with href="chap11.columbia.html">Columbia Gas
        Transmission Corporation
to settle, for $2.1 million, one of
the two
        principal claims Xplor has pending in the Columbia Chapter 11
        bankruptcy proceeding.  The agreement is subject to Bankruptcy Court
        approval which is scheduled for a hearing on November 13, 1995.  If
        so approved, Xplor could receive these funds as early as December
        29, 1995.
        


            Xplor's remaining claim against Columbia relates to a class-
        action settlement which Columbia had agreed to prior to the
        bankruptcy filing with suppliers, including Xplor, under take-or-pay
        contracts, upon which Columbia paid the first of two installments to
        the plaintiff class in 1992.  It is expected that this claim will be
        resolved in the near future and result in an additional recovery by
        Xplor from the Columbia bankruptcy which could be in excess of
        $300,000.
        


            As in all bankruptcy situations, the ultimate results and the
        amounts and timing of any recoveries cannot be predicted with
        assurance or accuracy.
        


            Xplor currently has 2,037,171 shares of Common Stock
        outstanding. The Company announced in July that it has agreed to
        acquire certain oil interests in the Roland Consolidated Field in
        White County, Illinois, currently owned or controlled by privately
        owned Big E Oil Company.  The properties to be acquired contain
        proved developed (producing and non- producing) reserves in excess
        of 488 Mbbls of oil and condensate and proved undeveloped reserves
        in excess of 957 Mbbls of oil and condensate.  The consideration to
        be paid by the Company is $1 million cash and between approximately
        1.2 to 1.5 million shares of the Company's common stock, with the
        latter being fixed based on updated reserve evaluation and
        verification.  Consummation of the transaction is subject to
        significant conditions, including, among other things, finalization
        of definitive documentation, receipt of a satisfactory title
        opinion, and the successful purchase by Big E of certain interests
        being sold in a third party's bankruptcy proceeding.  If these
        conditions are satisfied on the timetable currently anticipated, it
        is contemplated that the acquisition could be consummated in
        calendar year 1995.  To finance the $1 million cash portion of the
        acquisition, the Company secured a loan commitment, in consideration
        for which the Company issued warrants to purchase 500,000 shares of
        the Company's Common Stock exercisable for a five-year period at
        $2.00 per share.
        


            Xplor is an independent oil and gas exploration, development,
        and production company with headquarters in Denver, Colorado, and
        production facilities in eight states, including significant gas
        production in West Virginia, and two intrastate gas gathering lines
        in Texas.  Xplor's stock is traded on the NASDAQ Smallcap Market
        under the symbol XPLR.
        



                               XPLOR CORPORATION
          (In thousands, except shares outstanding and per share
        information.)
        
                               Three Months           Nine Months
                              Ended Sept. 30        Ended Sept. 30
                              1995       1994       1995       1994
        
        Oil and Gas Sales      102        151        296        444
        Total Revenues         147        218        442        740
        Net Income (Loss)    (280)      (156)      (551)      (310)
        Shares outstanding2,037,171 2,037,171  2,037,171  2,037,171
        Net Income (Loss)
         Per Common Share   $(.14)     $(.08)     $(.27)     $(.15)

        
        /CONTACT:  James E. Gayle, President, Chairman and CEO of Xplor,
        713-358-4248/


The Columbia
Gas System, Inc.
, (NYSE: CG)
        and Columbia Gas Transmission Corp., its principal pipeline
        subsidiary, were confirmed here today by U. S. Bankruptcy Court
        Judge Helen Balick.
        


            The rulings will permit the companies to implement the terms of
        their reorganization plans and emerge from Chapter 11 protection
        soon after a 10-day waiting period during which appeals may be filed
        with the Federal District Court in Delaware, provided no stay is
        issued.
        


            Columbia System Chairman Oliver G. Richard III said he was
        elated with the rulings.  "We're anxious to get the bankruptcy
        proceedings behind us and will make every effort to expedite the
        implementation of the plans.  We want to pay our creditors as soon
        as possible so that we can begin to take advantage of the many
        opportunities that are becoming available in today's energy
        marketplace."
        


            Richard said the continuing profitability of Columbia's business
        units throughout the bankruptcy demonstrates the basic soundness of
        their operations.  He also pointed to the recent investment grade
        ratings accorded Columbia's new debt to be issued upon emergence as
        testimony to the financial strength of the Corporation.  He added
        that the average interest rate on Columbia's new debt is expected to
        be among the lowest of any company in the gas industry.
        


            As confirmed by the Court, the Corporation's reorganization plan
        provides for a total distribution of approximately $3.6 billion to
        its creditors, including approximately $2.3 billion in payment of
        the debt the Corporation owed prior to filing for Chapter 11 and
        approximately $1.1 billion of interest on that debt.
        


            The Corporation's reorganization plan will pay its creditors the
        principal balances of their pre-petition debt in full and accrued
        pre- petition interest, post-petition interest and interest on
        overdue interest.  This distribution will include almost $1 billion
        in cash to be funded in part by new bank debt; about $2 billion in
        new debt securities with maturities that range from five to 30
        years; and about $200 million in preferred stock and $200 million in
        dividend enhanced convertible stock.
        


            Columbia Transmission's confirmed reorganization plan provides
        for a total distribution of approximately $3.9 billion to its
        creditors.  Of this, about $2.2 billion will be paid to the
        Corporation to resolve its secured and unsecured debt claims.  About
        $1.2 billion will be paid to producers to resolve claims resulting
        from gas purchase contracts that the company rejected during the
        proceedings, and the remaining $500 million will pay other third-
        party and administrative claims.
        


            Columbia Transmission will pay 100 percent of all priority and
        administrative claims, the Corporation's secured debt and all
        unsecured claims of $25,000 or less.  Other creditors, including the
        producers whose contracts were rejected, will initially receive
        68.875 percent and subsequently could receive up to 72.5 percent of
        their allowed claims. Customer creditors' claims will be accorded
        the treatment provided in a comprehensive settlement approved by the
        Federal Energy Regulatory Commission and included in the confirmed
        plan of reorganization.
        


            The Columbia Gas System, Inc., is one of the nation's largest
        natural gas systems.  Its 17 operating subsidiaries are engaged in
        the exploration, production, purchase, marketing, storage,
        transmission and distribution of natural gas as well as electric
        power generation and other energy operations.   The Corporation and
        Columbia Transmission have been operating as debtors-in-possession
        since July 31, 1991, after a combination of events forced them to
        file separate petitions for protection under Chapter 11.
        


        /CONTACT:  media, H.W. Chaddock, 302-429-5261, or W.R. McLaughlin,
        302-429-5443, or analysts, T.L. Hughes, 302-429-5363, or K.P.
        Murphy,
        302-429-5471, all of Columbia Gas/




        MGI PROPERTIES ("MGI") ANNOUNCES AFFIRMATION OF LEASE BY BRADLEES,
        INC.

        
            BOSTON, Nov. 15, 1995 -- MGI Properties ("MGI")
(NYSE:
        MGI) today reported that a lease between one of its subsidiaries and
        Bradlees, Inc. (NYSE: BLE) has been affirmed by href="chap11.bradlees.html">Bradlees under the
        Bankruptcy Code and has been approved by the bankruptcy court.  The
        property under lease to Bradlees is a newly-completed 105,000
        square-foot retail building.  Bradlees filed for bankruptcy in the
        United States Bankruptcy Court, Southern District of New York on
        June 23, 1995.
        


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



NovaGold Resources Inc. - Company
        Update

        
            DARTMOUTH, Nova Scotia--Nov. 15, 1995--NOVAGOLD
        RESOURCES INC (TSE:NRI) NovaGold Resources Inc., announced today
        that it has concluded an agreement with the National Bank of Canada
        to restructure the outstanding loan of $1,901,000 owing to the
        National Bank by NovaGold's wholly-owned subsidiary, Murray Brook
        Resources Inc.  

        
            The loan was incurred by Murray Brook to finance the completion
        of the Murray Brook gold and silver mine in New Brunswick.  NovaGold
        guaranteed the loan.  The loan was also insured as to 85 percent by
        the Atlantic Canada Opportunities Agency.  Murray Brook repaid
        $2,100,000 of the loan from the proceeds of production of gold and
        silver from the Murray Brook mine.  Operations at the Murray Brook
        mine were discontinued in May of 1992 due to the depletion of ore
        reserves.  While interest on the loan is in good standing, the
        principal amount of $1,901,000 is in arrears.  Murray Brook has also
        been in default on certain convenants to the Bank since March, 1992.
        Under the terms of the restructuring, the National Bank has
        postponed until May 31, 1996, payment of the outstanding principal
        on the loan and NovaGold has issued 10,820,246 common shares of
        NovaGold as substitute security for the Bank's existing security.  
  

      
            When permitted by securities law which is expected to be
        approximately February 4, 1996, the NovaGold shares will be sold on
        behalf of NovaGold and the Bank by a registered dealer and the
        proceeds will be applied to reduce the outstanding principal on the
        loan.  If the loan is fully retired by May 31, 1996, all security
        including any unsold shares will be returned by the Bank to
        NovaGold. If any portion of the loan remains outstanding on May 31,
        1996, the National Bank will make a claim under a loan insurance
        agreement with the Atlantic Canada Opportunities Agency for 85
        percent of the Bank's loss and upon payment of the claim by ACOA,
        ACOA may, at its election, cause the Bank to assign to ACOA all or
        any of the security then held by the Bank relating to the loan.  The
        terms of this restructuring were negotiated after the original
        restructuring arrangement, agreed to by the parties in August 1994,
        did not receive the necessary regulatory approval.  
     

   
            Gerald McConnell, President of NovaGold stated that the
        completion of the restructuring to the loan with the National Bank
        is an important step to clear the way for NovaGold to raise
        additional financing for its projects, particularly its Pine Cove
        Gold Project near Baie Verte, Newfoundland.  
        


            NovaGold is involved in the acquisition, exploration and
        development of mineral properties in Canada and the United States.
        NovaGold shares are traded on The Toronto Stock Exchange under the
        symbol "NRI".  
        


        CONTACT:  Gerald J. McConnell, President, 902/468-9270
                  Dartmouth, Nova Scotia;
                  William Young, Vice President, 416/867-1100
                  Toronto, Ontario




        KENT TOY CANCELS INTENT TO ACQUIRE EVERYTHING SEEN ON TV

        
            KENT, Ohio, Nov. 15, 1995--Kent Toy Inc. (OTC: KTOY),
        traded OTC Bulletin Board, has cancelled a letter of intent to
        acquire Everything Seen On TV
retail stores.  The companies were
        negotiating under a non-binding letter of intent.  Everything Seen
        On TV has filed a Chapter 7 liquidation proceeding in Rochester, New
        York.
        


        /CONTACT:  Robert Petry, President of Kent Toy, 800-295-1107/



        BRISTOL OAKS, L.P. ANNOUNCES THE RESULTS OF A PORTFOLIO REVIEW

        
            HOUSTON, Nov. 15, 1995 -- Bristol Oaks, L.P., a
Delaware
        limited partnership (the "Partnership") and the issue of its
        $384,000,000 Bonds Backed by Non-Performing Mortgage Loans, Sub-
        Performing Mortgage Loans, Reinstated Mortgage Loans and Real Estate
        Series 1994-1 (the "Bonds"), announced today the results of an
        internal review of the performance through October 31, 1995 of the
        portfolio of loans and real estate assets that constitute the Trust
        Estate securing the Bonds.  That review disclosed an increased
        percentage of REO properties to total assets and delays in the
        timing of asset liquidations, which are expected to result in
        increased operating, disposition and servicing expenses, decreased
        revenues from asset dispositions and a consequent delay in the
        receipt of cash flow available to pay debt service on the Bonds.
        Under the Indenture, a delay in the payment of interest on the Bonds
        does not constitute an event of default.  The review, a copy of
        which has been delivered to the Indenture Trustee for distribution
        to the holders of record of the Bonds, discloses the dollar amounts
        of liquidations through October 31, 1995 and the dollar amount of
        the Partnership's Liquidity Reserve Account.
        


            Cathy Vann, the President of the Partnership's General Partner,
        stated:  "The Partnership is aggressively pursuing a variety of
        strategies to facilitate and expedite its liquidation and
        disposition of Trust Estate assets.  Our report to the Indenture
        Trustee details the steps that we are taking and is available upon
        request."  Requests for the performance review should be directed to
        Mr. Les Carter (512-478-9455).
        


            The Trust Estate assets were acquired by the Partnership from
        Citibank, N.A. and Citicorp North American, Inc. shortly after the
        formation of the Partnership in June 1994.  On December 14, 1994,
        the Partnership publicly issued and delivered its Bonds,
        underwritten by Citicorp Securities, Inc. and Citibank International
        plc.  The Bonds are non-recourse obligations of the Partnership
        secured by and payable only from the Trust Estate.
        


            Citicorp Securities, Inc., and Citibank International plc, which
        are non-resource obligations of the Partnership secured by and
        payable from the Trust Estate.
        


        /CONTACT:  Les Carter for Bristol Oaks, L.P., 512-478-9455/




        SPECTRAVISION ANNOUNCES THIRD QUARTER RESULTS

        
                         Revenues of $30.5 Million;
                  Reorganization Charges of $7.1 Million

        
            DALLAS, Nov. 15, 1995--href="chap11.spectravision.html">SpectraVision, Inc. (AMEX: SVN)
        today announced lower revenues for the third quarter ended September
        30, 1995 compared to the third quarter a year ago.  Third quarter
        revenue was $30.6 million in 1995, down from $34.6 million in 1994.
        Revenue for the nine months ended September 30, 1995 was $95.8
        million compared to $108.2 million for the same nine-month period a
        year ago.
        


            SpectraVision(R) sought protection under Chapter 11 of the U.S.
        Bankruptcy code on June 8, 1995 in order to complete its financial
        restructuring.  The Company obtained $40 million in debtor-in-
        possession financing on June 9, 1995.
        


            Loss before interest, taxes, depreciation, amortization and
        other non-cash items, excluding non-recurring reorganization charges
        of $7.1 million, was $5.9 million for the third quarter of 1995,
        compared to EBITDA of $3.7 million in the third quarter of 1994.
        EBITDA for the nine months ended September 30, 1995 was $1.2
        million, compared to $20.8 million for the nine months ended
        September 30, 1994.
        


            EBITDA for the third quarter was $1.1 million before adjusting
        for the impact of certain changes in estimates that are not related
        to operations as well as changes in reserves for receivables.
        EBITDA for the nine month period was $5.3 million before
        adjustments.  The Company recorded a net loss of $22.6 million for
        the third quarter of 1995, comparable to the net loss for the year
        ago period. The net loss for the nine months of 1995 was $62.1
        million, compared to a net loss of $52.0 million for the same period
        in the prior year.
        


            The non-recurring reorganization charges of $7.1 million in the
        third quarter relate primarily to discontinuing services to a number
        of unprofitable hotels and the elimination of certain positions
        within the company.  It is currently anticipated such actions will
        be completed by Dec. 31, 1995. Of this total, $.9 million relates to
        the cost of deinstalling certain hotels and $1.7 million was
        recorded for estimated losses on the disposal of deinstalled
        equipment. The company also recorded $.4 million in employee
        severance costs which will be incurred in the reorganization
        process.  The company recorded an additional charge of $2.3 million
        which represents the write-off or abandonment of other fixed assets
        and $1.0 million for other costs associated with the restructure
        process.  Further, there were normal bankruptcy-related professional
        and miscellaneous charges of $.8 million.
        


            The Company also said that the Revenue per Equipped Room (RER)
        was $0.49 for the third quarter of 1995, compared to $0.49 for the
        same quarter of the previous year. RER for the nine month period
        ended September 30, 1995 was $0.50, down from $0.51 in the same
        period a year ago.
        


            SpectraVision, Inc. is the leading supplier of in-room, pay-per-
        view entertainment and information services to the worldwide lodging
        industry.  Through its STARPATH(TM) technology, it is the only
        company in the lodging industry delivering compressed digital video
        and digital video-on-demand to hotels in North America.  Founded in
        1971, the company markets its products and services in the U.S.,
        Canada, Mexico, the Caribbean, Australia and the Pacific Rim.
        



                             SPECTRAVISION, INC.
                     CONDENSED STATEMENTS OF OPERATIONS
                      (in thousands, except share data)
                                 (Unaudited)
        
                                             Quarter Ended September 30,
                                                   1995         1994
        Revenues                             $    30,599  $    34,602
        Operating Loss                           (14,786)      (7,873)
        Net Loss                                 (22,455)     (22,631)
        Loss Per Common Share                $     (0.94) $     (0.95)
        Average Common Shares Outstanding     23,983,905   23,983,905
        
                                            Nine Months Ended September 30,
                                                    1995        1994
        Revenues                             $    95,807  $   108,239
        Operating Loss                           (27,022)     (14,591)
        Net Loss                                 (62,099)     (51,943)
        Loss Per Common Share                $     (2.59) $     (2.17)
        Average Common Shares Outstanding     23,983,905   23,983,905
        
                              SPECTRAVISION, INC.
                   CONDENSED STATEMENTS OF FINANCIAL POSITION
                                (in thousands)
                                  (Unaudited)
                                                September 30,  September 30,
                                                   1995           1994
        Cash and Equivalents                     $    ---      $  1,317
        Accounts Receivable                        17,575        20,417
        Debt Issuance Costs (Net)                   5,893         6,797
        Prepaids and Other Assets                   8,346         8,933
        Video Systems                             125,005       146,583
        Land, Building and Equipment                7,818         8,775
        Unamortized Hotel Contracts                48,052        50,000
        Total Assets                             $212,689      $242,822
        
        Accounts Payable and Accrued Liabilities $ 22,355      $ 78,237
        Current and Deferred Income Taxes           6,396         7,047
        Bank Credit Facilities                        ---        19,850
        Foothill Revolving Facility                14,259           ---
        11.5% Senior Discount Notes                   ---       172,295
        11.65% Reset Notes                          1,293       294,768
        Other Debt                                    ---        23,650
        Liabilities Subject to Settlement Under
          Reorganization                          583,178           ---
        Contingent Value Rights Subject to
          Settlement Under Reorganization          20,000        20,000
        Stockholders' Deficit                    (434,792)     (373,025)
        Total Liabilities and Stockholders'
          Deficit                                $212,689      $242,822


        /CONTACT:  Janice Schroer, Director of Corp. Communications, of
        SpectraVision, 214-301-9016, or Bill Murphy, General Info, of The
        Financial Relations Board, 312-266-7800/


Elsinore reports third-quarter, nine-month
        results

        
            LAS VEGAS--Nov. 16, 1995--href="chap11.elsinore.html">Elsinore Corp.
        (ASE/PSE:ELS) Thursday reported financial results for the third
        quarter and nine months ended Sept. 30, 1995.
        


            Revenues for the quarter were $13,756,000, compared with
        $15,445,000 for the third quarter last year.  The company reported a
        third quarter net loss of $8,921,000, or 56 cents per share,
        compared with a net loss of $2,926,000, or 24 cents per share, for
        the same period last year.  
        


            Elsinore noted that the net loss for the third quarter was
        increased by $5,307,000 as a result of reserves taken for possible
        settlement of disputes with the Twenty-Nine Palms Band of Mission
        Indians and the write-off of certain unamortized casino development
        costs.
        


            Elsinore reported that third quarter revenues from the company's
        Four Queens Hotel and Casino in Las Vegas decreased 11.6% to
        $13,444,000, primarily reflecting the disruption of traffic flow to
        downtown Las Vegas caused by the construction of the Fremont Street
        Experience and related infrastructure.  Excluding the aforementioned
        reserves, the reduced revenues at the Four Queens were partially
        offset by expense reductions instituted throughout the company.
        


            For the nine months ended Sept. 30, 1995, Elsinore reported
        revenues of $43,049,000, compared with revenues of $46,624,000 for
        the same period last year.  The company had a net loss for the nine-
        month period of $16,198,000, or $1.05 per share, compared with a net
        loss of $7,079,000, or 59 cents per share, for the first nine months
        of 1994.  
        


            "Despite the difficult conditions, we are maintaining the
        vitality of the Four Queens Hotel and Casino and expect to benefit
        from the long-awaited opening on Nov. 30 of the Fremont Street
        Experience," stated Thomas E. Martin, Elsinore's president and chief
        executive officer.  
        


            "We expect a major improvement in customer count at the Four
        Queens, which should have a strong positive effect on our gaming as
        well as hotel operations.  This increase in traffic, combined with
        our successful cost containment efforts at the Four Queens, should
        result in increased cash flow as we continue through the company's
        bankruptcy proceedings."
        


            On Oct. 31, 1995, the company and certain subsidiaries reported
        the filing of a voluntary petition for reorganization under Chapter
        11 of the bankruptcy code with the United States Bankruptcy Court
        for the District of Nevada.
        


            The Fremont Street Experience, a major downtown redevelopment
        project that features a 10-story "celestial vault" canopy with an
        electronic light show choreographed to music, will connect the Four
        Queens and nine other major entertainment venues in a downtown mall
        that offers a total of 17,000 slot machines, 650 blackjack and other
        table games, 41 restaurants and 8,000 hotel rooms.  
        


            The company noted that it is continuing to negotiate toward a
        settlement of its dispute regarding Spotlight 29 Casino near Palm
        Springs, Calif.  As previously reported, the company has disengaged
        from the Spotlight 29 management contract following a dispute
        regarding, among other things, the terms of the management contract
        under which the company had the exclusive right to manage the casino
        owned by the 29 Palms Band of Mission Indians.  
        


            Elsinore believes that a resolution of the dispute is possible
        that could recover a substantial portion of the company's investment
        over time.  There can be no assurance that a settlement agreement
        can be reached with the tribe or that the bankruptcy court will
        approve the final settlement.  However, based upon the progress to
        date of the aforementioned negotiations, in September 1995 the
        company wrote down to $9 million the aggregate amount advanced to
        the tribe and accrued interest thereon.  
        


            In connection with the filing of the bankruptcy petition, the
        company has been informed by the American Stock Exchange that
        trading has been halted indefinitely pending clarification of the
        outcome of the bankruptcy proceedings.
        


            Elsinore owns and operates the Four Queens, a downtown Las Vegas
        Hotel and Casino offering 704 rooms, meeting facilities, four
        restaurants, 1,050 slot machines and numerous blackjack, craps and
        other table games.


        
                                 Elsinore Corp.
                Condensed Consolidated Statements of Operations
                                  (Unaudited)
                  (Dollars in thousands, except per-share data)
        
                            Three Months Ended        Nine Months Ended
                                 Sept. 30,                 Sept. 30,
                             1995        1994          1995        1994
        
        Revenues, net         $ 13,756    $ 15,445      $ 43,049    $ 46,624
        
        Net (loss) income/a   $ (8,921)   $ (2,926)     $(16,198)   $
        (7,079)
        
        Earnings (loss) per
        common share and
        common share equivalent ($0.56)     ($0.24)       ($1.05)
        ($0.59)
        
        Weighted average number
         of common shares
         and common
         share equivalents  15,877,849  12,079,164    15,383,988  12,069,387

        Note a:  Net income for the third quarter and nine months was
        reduced by a write-down to $9 million the aggregate amount advanced
        to the Twenty-Nine Palms Band and accrued interest thereon;
        a $807,000 write-off of capitalized costs associated with the
        Nashville Nevada Project; and a $242,000 write-off of casino
        development costs related to the 7 Cedars Casino.
        
                            Balance Sheet Information
                             (Dollars in thousands)
        
                                          Sept. 30,        Dec. 31,
                                            1995             1994
        
        Current assets                       $  4,786         $  6,204
        Total assets                           60,210           67,315
        Current liabilities                    17,176           16,709
        Long-term debt                         56,741           52,081
        Shareholders' (deficit) equity        (13,896)          (1,664)
        

        CONTACT:  Elsinore Corp., Las Vegas,
                  Thomas E. Martin, 702/387-5110;
                  Gary Acord, 702/387-5146
                             or
                  The Financial Relations Board, Los Angeles,
                  Daniel Saks, 310/442-0599 (general info);
                  Sue Caulton, 415/986-1591 (analysts)