TCR_Public/951207.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



Holly Products obtains $5 million
        commitment for Country World Casinos

        
        
            MOORESTOWN, N.J.--Dec. 7, 1995--Holly Products
        Inc. (NASDAQ: HOPR, HOPRW, HOPRP; BSE: HOP, HOPP) majority
        stockholder of Country World
Casinos
, today announced that it
        obtained a loan commitment of $5 million for Country World to pay
        its debts.  The closing of the loan is subject to formal
        documentation and approval of the Bankruptcy Court having
        jurisdiction over Country World's Chapter 11 case.
        


            As previously disclosed on Oct. 12, 1995, Country World filed a
        bankruptcy petition under Chapter 11 of Title 11 of the United
        States Code on that date, in order to avoid the public sale of its
        major assets and protect the interest of its shareholders.  As part
        of its re-organization plant, Country World intends to use this
        capital to satisfy the first and second deed of trust for the casino
        site, 100 percent of the unsecured debt to its creditors, and
        provide working capital while the company continues in its attempts
        to secure construction and permanent financing.
        


            As previously stated, Country World will continue to pursue its
        Civil Action against Tommy Knocker Casino and its Parent, New Allied
        Development Corp. for approximately $600,000 in overcharges and
        certain disclosure issues.
        


            William H. Patrowicz, president of Holly Products Inc., stated,
        "We are encouraged, with the raising of these funds, that Country
        World will be able to put the bankruptcy issue behind them and we
        remain optimistic that we will secure the balance of the necessary
        funding to construct the casino in short order."
        


            Holly Products Inc., headquartered in Moorestown, has a wholly
        owned subsidiary, Navtech Industries Inc., of Blanding, Utah and a
        majority owned subsidiary, Country World Casinos Inc. of Denver.
        Navtech is a manufacturer and tester of printed circuit boards and
        wire harnesses for slot machine tracking systems and signage.
        Country World Casinos Inc. is a development corporation, whose sole
        asset is a parcel of property located in Blackhawk, Colo.  Country
        World's plan is to construct the largest casino in the state of
        Colorado located in Black Hawk, as well as a hotel complex.
        


        CONTACT: Holly Products Inc., Moorestown,
                 William Patrowicz, 609/234-1450




        SEARCH CAPITAL OBTAINS $3 MILLION LOAN FROM HALL FINANCIAL; EQUITY
        INVESTMENT MAY FOLLOW
        


            DALLAS, Dec. 7, 1995 -- Search
Capital Group, Inc.

        (SRCG.OB), today reported it has completed a $3 million interim
        financing transaction with Dallas-based Hall Financial Group, Inc.
        The announcement was made by George C. Evans, Search chairman and
        chief executive officer.
        


            In addition to the interim financing transaction, Evans noted
        that Hall Financial has proposed to make an equity investment in
        Search of up to $4.5 million.
        


            "Closing this interim financing with Hall represents another
        significant step towards turning Search around," said Evans.  "We
        believe the Hall financing is also a tremendous vote of confidence
        in Search's management and our strategic business plan to achieve
        profitability."
        


            Craig Hall, chairman of Hall Financial Group, said, "We made a
        loan and proposed to take an equity position because we feel that
        Search has a quality management team and a bright future.  We
        consider this to be a unique and favorable investment opportunity."
        


            Evans pointed out that the interim financing from Hall provides
        Search with the necessary funds to continue its rebuilding process
        while finalizing its subsidiaries' Chapter 11 proceedings.  It is
        anticipated that process would be completed within a week.
        


            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:  Andy Stern of Stern, Nathan & Perryman, 214-373-1601/




Petrie Stores to
establish Liquidating
        Trust on January 22, 1996

        
            SECAUCUS, N.J.--Dec. 7, 1995--Petrie Stores
        Corporation (NYSE: PST) announced today that its board of directors
        has approved the transfer of all of Petrie Stores' remaining assets
        and its remaining fixed and contingent liabilities to the Petrie
        Stores Liquidating Trust.  The succession will be effective as of
        the close of business on January 22, 1996, at which time Petrie
        Stores shareholders of record on such date will become holders of
        beneficial interests in the Petrie Stores Liquidating Trust.  
        


            As previously announced, Petrie Stores shareholders approved a
        plan of liquidation and dissolution on January 24, 1995 and, since
        that date, Petrie Stores has distributed 31,408,753 shares of Toys
        "R" Us, Inc. (NYSE: TOY) common stock to its shareholders pursuant
        to the plan.  Petrie Stores currently holds 7,055,576 shares of Toys
        "R" Us common stock and approximately $85 million in cash and cash
        equivalents.  
        


            Petrie Stores expects that the liquidating trust will distribute
        its assets to holders of beneficial interests as quickly as is
        reasonably practicable, but notes that the timing and size of
        distributions will depend upon the extent to which Petrie Stores
        reduces its contingent liabilities.  
        


            Petrie Stores' remaining contingent liabilities primarily relate
        to (i) guarantees by Petrie Stores of certain retail store leases to
        which Petrie Retail, Inc. or its subsidiaries are parties and which
        expire at various times through the year 2011, (ii) an ongoing
        dispute with the Internal Revenue Service relating to the manner in
        which Petrie Stores computed the basis of shares of Toys "R" Us
        common stock transferred pursuant to the conversion of certain
        exchangeable subordinated debentures in fiscal year 1989, and (iii)
        Petrie Stores' agreement to indemnify Petrie Retail for certain
        multiemployer plan withdrawal liabilities.  
        


            As has been reported, on October 12, 1995, href="chap11.petrie.html">Petrie Retail filed a
        voluntary petition for bankruptcy protection under Chapter 11 of the
        Federal Bankruptcy Code.  Since filing its petition, Petrie Retail
        has announced plans to close approximately 300 out of its roughly
        1600 stores.  Petrie Stores is a guarantor of leases relating to
        approximately 50 of those stores, and its aggregate guarantee
        liability on those leases is expected to be no more than
        approximately $15 million.  Petrie Stores' liability will be reduced
        by, among other things, the extent to which Petrie Retail assigns
        closed store leases instead of rejecting such leases in bankruptcy
        or, if the leases are rejected, new rent-paying tenants are found
        for the closed stores.  Subject to bankruptcy court approval, Petrie
        Retail has retained Keen Realty Services, Inc. to market
        approximately 150 of the roughly 300 leases relating to stores to be
        closed.  In conjunction with this process, with the consent of
        Petrie Retail, but subject to bankruptcy court approval, Petrie
        Stores intends to retain Keen Realty to negotiate transactions to
        reduce liability under any of those leases where Petrie Stores has
        guarantee liability.  
        


            Petrie Stores is not aware of any plans that Petrie Retail may
        have to close additional stores; however, no assurance can be given
        that Petrie Retail will not close additional stores for which Petrie
        Stores has guarantee liability.  Based on motions currently pending
        before the bankruptcy court, Petrie Retail will likely have until at
        least August, 1996 to decide whether to assume or reject the
        majority of the leases it currently holds.  Were Petrie Retail to
        close EVERY store for which a landlord might claim that Petrie
        Stores is a lease guarantor AND no mitigation or defense were
        successful, Petrie Stores believes that its maximum theoretical
        exposure relating to such leases, without giving effect to any
        present value discount, would be approximately $95 million.  
        


            In addition, since the filing by Petrie Retail of its voluntary
        petition for bankruptcy protection, a dispute has arisen between
        Petrie Stores, on the one hand, and Petrie Retail and its
        affiliates, on the other, as to whether Petrie Stores, or Petrie
        Retail and its affiliates, is responsible as guarantor of certain
        additional leases.  The maximum theoretical exposure relating to
        such leases, based on the same assumptions as set forth in the
        preceding paragraph -- and without giving effect to any present
        value discount -- would be approximately $35 million.  To date,
        Petrie Retail has not announced plans to close any of the stores
        relating to such leases, and as a result, there is currently no
        guarantor liability.  
        


            A substantial number of leases referred to above under which a
        landlord might claim that Petrie Stores is a lease guarantor either
        expressly contained mitigation provisions or relate to property in
        states that imply such provisions as a matter of law.  Mitigation
        generally requires, among other things, that a landlord of a closed
        store seek to reduce its damages, including by attempting to locate
        a new tenant.  
        


            As to the ongoing dispute with the IRS, Petrie Stores is
        contesting the IRS' proposed adjustment in administrative
        proceedings.  
        


            As previously disclosed, effective January 31, 1995, Petrie
        Retail withdrew from the multiemployer pension plan in which it had
        participated.  Due to underfunding of the multiemployer plan, Petrie
        Retail has incurred withdrawal liability under the Employee
        Retirement Income Security Act of 1974, as amended.  Pursuant to the
        agreement by which Petrie Stores sold its retail operations, Petrie
        Retail and its affiliates are responsible for the first $10 million
        in withdrawal and related liabilities, with the next $50 million of
        such liabilities allocated 75 percent to Petrie Stores and 25
        percent to Petrie Retail and its affiliates.  It is unclear what
        effect, if any, Petrie Retail's bankruptcy filing may have upon the
        timing and amounts of any payments Petrie Stores may be required to
        make under the agreement with respect to the multiemployer plan, but
        in no event will Petrie Stores' maximum contractual liability be
        increased as a result of Petrie Retail's bankruptcy filing.  

        
            Petrie Stores expects to mail an information statement to its
        shareholders, which will further detail items relating to the Petrie
        Stores Liquidation Trust, its anticipated assets, fixed and
        contingent liabilities and tax treatment on or about December 18,
        1995.  SHAREHOLDERS ARE ENCOURAGED TO CAREFULLY READ THIS
        INFORMATION STATEMENT IN ITS ENTIRETY.  
   

     
        CONTACT: John Quirk
                 (212) 484-7699
                   or
                 John Franklin III
                 (212) 484-7693
        




Diamond Increases
Offer to Acquire Hayes
        and Receives Vote of Second Largest Shareholder

        
            SAN JOSE, Calif.--Dec. 7, 1995--Diamond
        Multimedia (Nasdaq: DIMD) today announced that it has increased its
        offer to acquire Hayes Microcomputer
Products, Inc.
out of Chapter
        11 bankruptcy reorganization.  
        


            The Official Committee of the Unsecured Creditors of Hayes (the
        "Committee") today filed with the U.S. Bankruptcy Court in Atlanta,
        Georgia an amendment to the reorganization plan of the committee and
        Diamond increasing their offer.  
        


            The Committee and Diamond filed a plan of reorganization on
        October 3, 1995 in which Diamond proposed to acquire Hayes by paying
        creditors approximately $85 million in cash, representing a full pay-
        out of pre-petition claims, plus interest.  The new offer continues
        to provide cash to creditors, however, equity holders will now
        receive $92 million in stock and $8 million in cash rather than the
        $73 million in stock and cash under Diamond's original offer
        


            Concurrent with the filing of the plan amendment today, Melita
        Easters Hayes, a 9.4 percent shareholder in Hayes, ex-wife of
        founder Dennis C. Hayes and the second largest shareholder in Hayes,
        filed her official ballot with the U.S. Bankruptcy Court voting in
        favor of the Committee/Diamond plan and opposing the reorganization
        plans filed by the debtor Hayes and U.S. Robotics.  Confirmation
        hearings are scheduled to commence December 18, 1995.  
        


            "We are very pleased to receive the support and vote of Melita
        Easters Hayes, and we believe we are well positioned to close this
        acquisition quickly as we have received Hart-Scott-Rodino anti-trust
        clearance from the FTC and have our financing in place.  However, we
        are competing with the reorganization plans of the debtor, Hayes,
        and a plan proposed by U.S. Robotics and there can be no assurance
        that our plan will be confirmed by the U.S. Bankruptcy Court," said
        William J. Schroeder, President and CEO of Diamond Multimedia.  
        


         Diamond Multimedia
        


            Diamond Multimedia designs and markets high-performance
        multimedia solutions for the PC and Macintosh markets.  Products
        include Stealth graphics and multimedia accelerators, EDGE 3D
        animation accelerators and Supra fax/modems.  Diamond also markets
        sound cards, audio/telephony subsystems, Internet kits and
        multimedia upgrade kits.  Headquartered in San Jose, CA, Diamond has
        marketing and technical support facilities in Vancouver (WA), Tokyo,
        Munich, Paris and Slough (U.K.).  Diamond's products are sold
        through regional, national and international distributors as well as
        to major computer retailers, mass merchants and OEMs worldwide.
        Diamond's common stock is traded on the Nasdaq National Market under
        the symbol DIMD.  
        


         How to Contact Diamond Multimedia
        


            There are many ways to reach Diamond for sales support,
        technical assistance, driver updates and general information:
        


        The Main Phone Number: 408/325-7000; Fax: 408/325-7070 Supra
        Communications Division Main Phone Number: 360/604-1400;
        


          Fax:  360/604-1401 SPEA Division Main Phone Number:  +49-8151-2660
        Product Support:  408/325-7100; Supra:  360/604-1499 For information
        on Diamond products: 800/380-0030; Supra: 800/727-8772 24-Hour Fax
        On Demand Service:  800/380-0030; Supra 503/967-0072 America Online
        (Keyword: DIAMOND; Supra Keyword:  SUPRACORP2) CompuServe (GO
        DMNDONLINE or GO GRAPHBVEN)(75300,3673); Supra: (GO SUPRA); SPEA (GO
        SPEA) Microsoft Network: Find DIAMOND FTP site: ftp.diamondmm.com,
        or Supra: ftp.supra.com Internet Web site: http://www.diamondmm.com
          or Supra: http://www.supra.comBBS numbers at 408/325-7080 (to
        14.4 baud)
          or 408/325-7175 (to 28.8 baud) Supra BBS: 503/967-2444 SPEA BBS at
        +49-8151-266241 (to 14.4 baud) or +49-8151-12921
          (to 28.8 baud) or +49-8151-78001 (ISDN)

        
        CONTACT:  Diamond Multimedia,
                  Gary Filler, 408/325-7333;
                 Kim Stowe, 408/325-7204
                  or
                  FRB San Francisco,
                  Ann Trunko or Kevin Mirise, 415/986-1591