TCR_Public/951121.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        SLM INTERNATIONAL ANNOUNCES 1995 THIRD QUARTER
        AND NINE MONTH RESULTS

        
            NEW YORK--November 21, 1995--SLM
International,
        Inc.
(Electronic Bulletin Board: "SLMI") announced operating
results
        for the third quarter and nine months ended September 30, 1995.  
        


            SLM International previously announced that it had filed a
        voluntary petition for reorganization under Chapter 11 of the
        Federal Bankruptcy Code in the United States Bankruptcy Court for
        the District of Delaware on October 24, 1995.  The results set forth
        below do not reflect any adjustments which may ultimately result
        from the Chapter 11 filing.  
        


            Net sales from continuing operations for the third quarter ended
        September 30, 1995 were $57.7 million, compared to $58.5 million for
        the same period in 1994.  The loss from continuing operations was
        $7.8 million, or $0.41 per share, in 1995, compared to income of
        $1.7 million, or $0.09 per share, in 1994.  The loss from continuing
        operations, which is primarily the Company's sporting goods
        business, reflected the unfavorable impact of $5.6 million for
        professional fees and higher interest costs related to defaults with
        its lenders.
        


            Excluding such items, the Company's third quarter loss from
        continuing operations would be approximately $2.2 million.  The 1995
        loss from continuing operations also reflects the negative impact of
        inadequate cash availability resulting in inventory shortages versus
        customer orders and the adverse impact of the hockey and baseball
        strikes.  The net loss for the third quarter of 1995 was $7.8
        million, or $0.41 per share, compared to a net loss of $52.0
        million, or $2.76 per share, for the prior year.  The net loss for
        1994 includes a loss from discontinued operations (the Buddy L toy
        and fitness businesses) of $53.7 million.  
        


            Net sales from continuing operations for the nine months ended
        September 30, 1995 were $126.7 million, compared to $128.6 million
        for the same period in 1994.  The loss from continuing operations
        was $27.4 million, or $1.45 per share, in 1995, compared to income
        of $2.6 million, or $0.14 per share, in 1994.  The loss from
        continuing operations reflected the unfavorable impact of a $7.0
        million settlement of environmental litigation and $12.8 million of
        professional fees and higher interest costs related to defaults with
        its lenders.  Excluding such items, the Company's loss from
        continuing operations for the first nine months of 1995 would be
        approximately $7.6 million.  The 1995 loss from continuing
        operations also reflects the negative impact of inadequate cash
        availability resulting in inventory shortages versus customer orders
        and the adverse impact of the hockey and baseball strikes.  The net
        loss for the first nine months of 1995 was $52.9 million, or $2.81
        per share, compared to a net loss of $56.8 million, or $3.01 per
        share, for the comparable period in 1994.  The net loss for 1995
        reflects the loss from continuing operations and a loss from
        discontinued operations as a result of the completion of the sale of
        the Company's discontinued Buddy L toy and fitness businesses in
        early July 1995.  

        
            SLM International, Inc.  designs, develops, manufactures and
        markets a broad range of sporting goods products on a worldwide
        basis.


                               SLM INTERNATIONAL, INC.
                       Consolidated Statements of Operations
                                    (Unaudited)
                         (In thousands, except share data)
        
                              Three Months Ended  Nine Months Ended  
                                 09/30/95  10/01/94  09/30/95  10/01/94
                                           Restated            Restated
        
        Net sales                    $ 57,714  $ 58,492  $126,665  $128,649
        
        Cost of goods sold             38,600    35,517    82,384    77,295
        
        Gross profit                   19,114    22,975    44,281    51,354
        
        Selling, general and
         administrative expenses       17,410    20,093    43,428    44,296
        
        Operating income                1,704     2,882       853     7,058
        
        Debt related fees               3,243       ---     8,520       ---
        
        Litigation settlement             ---       ---     7,000       ---
        
        Other expense(income), net        137      (261)      293      (279)
        
        Interest expense                6,093     1,931    12,403     4,734
        
        (Loss) income from continuing
         operations before income
         taxes                         (7,769)    1,212   (27,363)    2,603
                                 
        Income taxes                      ---      (483)      ---         4
        
        (Loss) income from continuing
         operations                    (7,769)    1,695   (27,363)    2,599
        
        (Loss) from discontinued
         operations, net of income
         tax (expense) benefit of
         $(2,988) and $79 for the
         three months and nine months
         ended October 1, 1994,
         respectively                     ---   (53,677)      ---   (59,373)
        
        (Loss) from disposition of
         discontinued operations, net
         of income taxes of nil           ---       ---   (25,569)      ---
        
        Net (loss)                   $ (7,769) $(51,982) $(52,932) $(56,774)
        
        (Loss) income per share from
         continuing operations       $  (0.41) $   0.09  $  (1.45) $   0.14
        
        (Loss) per share from
         discontinued operations          ---     (2.85)      ---     (3.15)
        
        (Loss) per share from
         disposition of discontinued
         operations                       ---       ---     (1.36)      ---
        
        Net (loss) per share         $  (0.41) $  (2.76) $  (2.81) $  (3.01)
        
        Average shares
         outstanding            18,859,679  18,855,000  18,859,679
        18,389,000


        CONTACT:  SLM International, Inc.,
                  Howard Zunenshine,
                  Chief Executive Officer,
                  514/331-5150;
                  John A. Sarto,
                  Chief Financial Officer,
                  212/332-1610
                       OR
                  IR CONTACT:
                  June Filingeri/Melissa Garelick,
                  Morgen-Walke Associates,
                  212/850-5600
        



        COLUMBIA GAS PROJECTS NEW DEBENTURE INTEREST RATES ASSUMING
        EMERGENCE FROM CHAPTER 11 ON NOVEMBER 28, 1995

        
            WILMINGTON, Del., Nov. 21, 1995 -- href="chap11.columbia.html">The Columbia Gas System
        Inc.
(NYSE: CG) today published the projected interest rates that
        could be applicable to the $2 billion of new debentures the company
        will issue upon emergence from Chapter 11.
        


            The projected rates are based on the pricing formula contained
        in its plan of reorganization and assume that Columbia will emerge
        from Chapter 11 on November 28, 1995, the first day following the
        expiration of the appeal period for the Bankruptcy Court's November
        15 order confirming the plan of reorganization.
        


            The new debt securities have been rated BBB by Standard & Poors
        and Fitch Investment Service and Baa3 by Moodys.
        


        The securities, projected interest rates and CUSIP numbers are:


        /CONTACT:  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/