TCR_Public/951206.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        EAGLE-PICHER INDUSTRIES ANNOUNCES COURT'S RULING

        
            CINCINNATI, Dec. 6, 1995 -- href="chap11.epi.html">Eagle-Picher Industries (OTC:
        EPIHQ.U) today announced that the Bankruptcy Court presiding over
        the Company's chapter 11 reorganization case ruled that the
        Company's estimated aggregate liability on account of present and
        future asbestos-related personal injury claims is $2,502,511,000.
        


            This ruling was in response to a motion filed by the Company in
        July requesting that the Bankruptcy Court estimate such liability
        for the purpose of determining the appropriate distributions to
        creditor classes under a plan of reorganization.  The Unsecured
        Creditors' Committee and the Equity Security Holders' Committee
        appointed in the Company's chapter 11 case had not agreed with the
        amount of such liability previously negotiated for settlement
        purposes among the Company, the Injury Claimants' Committee ("ICC")
        and the Legal Representative for Future Claimants ("RFC").
        


            Thomas E. Petry, Eagle-Picher Chairman, said that "the Company
        is pleased that its estimated liability with respect to asbestos-
        related personal injury claims, a critical element in formulating an
        appropriate distribution scheme in a plan of reorganization, has
        been determined.  The Court's ruling will enable the Company to move
        forward with its reorganization efforts.
        


            "Because the Court estimated that the Company's aggregate
        liability on account of asbestos-related personal injury claims is
        larger than the $1.5 billion amount agreed to for settlement
        purposes in the fourth quarter of 1993, the Company will record a
        provision in the fourth quarter of 1995 of $1,002,511,000 to
        increase the asbestos liability subject to compromise to
        $2,502,511,000.
        


            "The Company intends to proceed with an amended plan and
        accompanying amended proposed disclosure statement as soon as
        practicable.  The Company anticipates that the only substantive
        modifications to the plan filed on February 28, 1995 will relate to
        the allocation of distributions under the plan to the various
        categories of unsecured claims."
        


        /CONTACT:  J. Rodman Nall of Eagle-Picher, 513-721-7010/
        (EPIHQ.U)




        HARRAH'S ANNOUNCES PLAN TO REOPEN TEMPORARY NEW ORLEANS CASINO; PLAN
        SUBJECT TO APPROVAL OF BANKRUPTCY COURT

        
            MEMPHIS, Dec. 6, 1995 -- Harrah's Entertainment,
Inc.
        (NYSE: HET) today announced that, subject to agreements with the
        city and state, Harrah's Jazz
Company
intends to submit a motion to
        the bankruptcy court that would allow the Harrah's Jazz Company
        partnership to reopen its temporary casino in New Orleans.
       


            The terms under which the temporary casino would open are
        subject to approval of the bankruptcy court, including release by
        the court of available funds as required.  It is anticipated that if
        the parties act promptly the casino could be reopened approximately
        three weeks after all such approvals are granted.  Approximately
        1,000 employees will be required to operate and manage the temporary
        casino, which would be reconfigured with less games and slot
        machines.
        


            The proposal contemplates that the reconfigured temporary casino
        would operate on a positive operating cash flow basis prior to any
        debt service requirements, but is not expected to contribute
        significantly to the cost of construction of the permanent casino on
        Canal Street.
        


            "As one part of the total reorganization of the Harrah's Jazz
        casino project in New Orleans, one important concern of all parties
        is the reestablishment of the business and preserving as many jobs
        as possible for local citizens while other contractual terms and
        negotiations with creditors and other parties on matters relevant to
        the project are worked through under bankruptcy protection," said
        Colin Reed, executive vice president of Harrah's Entertainment, Inc.
        "The smaller temporary casino we have proposed will have less
        overhead and be scaled to the level of business that has been
        experienced at the Basin Street location."
        


            In addition to plans for the temporary casino reopening,
        Harrah's Jazz also presented to the Louisiana Economic Development
        and Gaming Commission a time-line to pursue reorganization of the
        entire Harrah's Jazz project, focused on completion and opening of
        the permanent facility on Canal Street.  It is currently estimated
        that the cost to complete construction of the permanent facility on
        a somewhat scaled- back basis to meet currently anticipated market
        demands, not including interest, would be approximately $195
        million.
        


            These proposals are preliminary at this time, and are subject to
        negotiation and agreement by all interested parties to the
        bankruptcy proceedings.
        


        /CONTACT:  Ralph Berry, Harrah's Entertainment, Inc.,
        901-762-8629/




Dissolution and termination of The Koger
        Partnership Ltd.

        
            JACKSONVILLE, Fla.--Dec. 6, 1995--href="chap11.koger.html">The Koger
        Partnership Ltd.
(the "Partnership") announced through its
Managing
        General Partner, Southeast Properties Holding Corp. Inc., that the
        Bankruptcy Court in the Chapter 11 case of the Partnership entered
        an Order dated Dec. 4, 1995, authorizing and directing the Managing
        General Partner to take all necessary and advisable action to wind
        up the Partnership's affairs and to terminate its existence as a
        partnership.  
        


            The Bankruptcy Court further ordered that this termination and
        the closing of the Chapter 11 case be accomplished prior to Dec. 31,
        1995.  
        


            As previously reported, the Partnership has sold all of its
        operating properties, the proceeds of which have been used to reduce
        its debt.  Since the Partnership will continue to owe approximately
        $21 million to its Managing General Partner and $350,000 to its
        former Individual General Partner, there will be no distribution to
        the partners with respect to the outstanding Units of Limited or
        General Partnership Interest.  
        


        CONTACT:  Southeast Properties Holding Corp. Inc., Jacksonville
                  Mary McNeal, 904/398-3403



Former Bear Stearns executive John Sites
        forms Daystar Special Situations Fund, L.P.

        
            RYE, N.Y--Dec. 6, 1995--John C. Sites, Jr., who
        resigned in July as executive vice president, director and member of
        the executive committee of Bear, Stearns & Co., today announced the
        formation, with two former Bear, Stearns associates, of Daystar
        Special Situations Fund, L.P., a limited partnership to invest in
        "special situation" securities.
        


            Sites' partners in Daystar are Michael C. Murr, former chief
        investment and capital officer of Progressive Corporation, and
        Warren J. Malone, former Progressive Corp. senior portfolio manager.
        Progressive Corporation is a New York Stock Exchange property-
        casualty insurance company with $3.5 billion in assets.
        


            Sites, a Bear Stearns veteran of 15 years, founded the firm's
        mortgage securities department and was co-head of the Fixed Income
        Group, including the distressed and high yield departments.  Sites,
        Murr and Malone worked together at Bear Stearns in the early 1980s.
        


            Daystar Special Situations Fund will focus on investing in
        undervalued or special situation companies, particularly entities
        that are distressed or in bankruptcy.  Among Daystar equity targets
        are high value, out-of-favor investments, overly discounted by the
        market.  Daystar's value-based strategy is designed consistently to
        outperform both the market and indexed portfolios.
        


            Daystar's three principals have collectively invested $40
        million in the firm and have agreed to keep this money invested for
        a minimum of two years.  The principals will reinvest in the fund,
        all fees earned.
        


            Daystar, headquartered in Rye, N.Y., will accept minimum
        investments of $10 million.
        


                           John C. Sites, Jr.
        


            Sites resigned as executive vice president, director and member
        of the executive committee of Bear Stearns & Co. in July 1995.  He
        was with Bear Stearns since 1981 and founded the firm's mortgage
        securities department, generally regarded as Wall Street's "top
        mortgage department."
        


            Prior to joining Bear Stearns, Sites served in trading
        capacities at Trading Company of the West, First Pennco Securities
        and Morgan Keegan & Co.

        
        Sites is a 1974 Phi Beta Kappa graduate of Rhodes College.
   

     
                           Michael C. Murr
      

  
            Murr served as co-founder and president of Progressive Partners,
        Ltd. from 1988 to 1995.  In 1992, he sold Progressive Partners to
        Progressive Corp. and became chief investment and capital officer of
        Progressive Corp.
        


            Prior to founding Progressive Partners, he served as senior
        managing director and head of the Financial Institutions Group and
        Mortgage Finance department at Bear, Stearns & Co.  He was a member
        of the firm's management committee and commitment committee.
        


            From 1977 to 1981, Murr was vice president at Salomon Brothers
        in the Financial Institutions Group.  From 1975 to 1977, he was an
        associate at Kidder Peabody & Co.
        


            Murr received the MBA from Harvard Business School in 1975 and
        also received his undergraduate degree at Harvard University.
        


                           Warren J. Malone
        


            Malone served as senior managing director of Progressive
        Partners, Ltd. from 1989 to 1995.  In 1992, Progressive Partners
        became a wholly-owned subsidiary of Progressive Corp.
        


            Prior to joining Progressive from 1985 to 1989, Malone served as
        managing director in the Financial Institutions Group of Bear,
        Stearns & Co., focusing on the insurance and savings & loan
        industries.  From 1981 to 1985, Malone was an associate in the
        Corporate Department at Cravath, Swaine & Moore.
        


            Malone received the JD and MBA degrees from Stanford University
        in 1981.  He received his BS degree from Boston College.
        


        CONTACT: Fraser P. Seitel, 212/613-4073




        HAMBURGER HAMLET FILES TO REORGANIZE UNDER CHAPTER 11

        
            SHERMAN OAKS, Calif., Dec. 6, 1995 -- href="chap11.hamburger.html">Hamburger Hamlet
        Restaurants Inc.
(the "Company") (Nasdaq: HAMB) and 41 of its
        affiliates today filed voluntary petitions in the U.S. Bankruptcy
        Court for the Central District of California to reorganize under
        chapter 11 of the Bankruptcy Code.  The company's management, which
        previously disclosed its intention to file for chapter 11, said the
        filing is a key step toward implementing a plan that is designed to
        return the company to financial profitability.
        


            Hamburger Hamlet's management said the Chapter 11 aims in part
        to facilitate its efforts to terminate or negotiate amendments to
        its real property leases and equipment financing agreements with
        certain landlords and equipment secured creditors, an instrumental
        part of the company's turnaround strategy.  The Company cautioned
        that implementation of a plan of reorganization is subject to a
        number of conditions and uncertainties, including negotiations with
        and approval by various creditors the bank and the Bankruptcy Court.
        


            The Company estimates that it has trade debts of nearly $5
        million, approximately $10.7 million in bank loans and amounts not
        yet ascertained, which may be due to landlords and equipment secured
        creditors as a result of the anticipated rejection of their leases
        and contracts.  In support of its turnaround plan, the company said
        its bank this week funded certain of the Company's pre-petition
        working capital needs.  The bank has also agreed to the use of its
        cash collateral by the Company in the Chapter 11 case, subject to
        certain terms and conditions.
        


            Hamburger Hamlet is headquartered in Sherman Oaks, California.
        The company operates 19 restaurants in three markets and opened its
        first restaurant in West Hollywood in 1950.
        


        /CONTACT:  Jack Lavine of Hamburger Hamlet, 818-995-7333/