TCR_Public/951211.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        ALAMCO, INC. ANNOUNCES RECEIPT OF SETTLEMENT PROCEEDS FROM COLUMBIA
        GAS TRANSMISSION CORPORATION

        
            CLARKSBURG, W.Va., Dec. 11, 1995 -- Alamco, Inc.
(AMEX:
        AXO) announced today that it has received the anticipated proceeds
        from settlement of its contract rejection claims from href="chap11.columbia.html">Columbia Gas
        Transmission Corporation
("Columbia").  This initial distribution
        was the result of the confirmation by the U.S. Bankruptcy Court of
        Columbia's Plan of Reorganization on November 15, 1995.  The Company
        received proceeds of $7,576,250, of which its share is $5,483,397.
        Alamco will recognize a gain in the fourth quarter of 1995 of
        $4,169,000 ($0.90 per share) before tax and $2,543,000 ($0.55 per
        share) after tax.
        


            Alamco could receive an additional settlement distribution from
        Columbia of up to five percent of its original claim of $11,000,000.
        The Company would recognize a gain of $274,000 ($0.06 per share)
        before tax and $167,000 ($0.04 per share) after tax upon receipt of
        the additional distribution.  The timing and amount of this
        additional recovery is contingent upon Columbia settling various
        outstanding claims with other gas producers.
        


            John L. Schwager, President and Chief Executive Officer, stated
        that the Company would use the proceeds to retire debt.
        


            Alamco, headquartered in Clarksburg, West Virginia, is an
        independent producer of gas and oil in the Appalachian Basin with
        operations concentrated in West Virginia, Tennessee and Kentucky.
        The Company's stock is traded on the American Stock Exchange under
        the symbol AXO.
        


        /CONTACT:  Jane Merandi of Alamco, Inc., 1-800-873-2526/




Grand Union accepts proposal from C&S wholesale
        Grocers, Inc.; Carlstadt, N.J., and Mt. Kisco, N.Y., distribution
        centers to close

           WAYNE, N.J.--December 11, 1995--The
Grand Union
        Company
announced today that it has decided to accept a proposal
        from C&S Wholesale Grocers, Inc., to supply food and other goods to
        its 103 supermarkets in the New York-New Jersey-Connecticut
        metropolitan area.   
        


            The decision means that the company will close its current
        distribution centers in Mt. Kisco, N.Y. and Carlstadt, N.J.
        


            Joseph J. McCaig, president and chief executive officer, said
        the decision to accept the C&S proposal, which is estimated to save
        Grand Union in excess of $14 million per year for the next seven
        years over the Company's present way of supplying product to its New
        York Region stores, was made after careful study and numerous
        meetings with the union representatives of its 450 distribution
        center employees.    
        


            McCaig said "Unfortunately, during our two months of voluntary
        discussions with the Teamsters Union and its affiliated locals, they
        failed to even submit a proposal aimed at saving the jobs involved.
        Therefore, when weighing our options, we could not ignore the
        tremendous benefits and efficiencies presented by the C&S proposal
        as we work to maximize the future growth of our company for our
        customers, our 16,000 associates and our shareholders."
        


            McCaig said the changeover to C&S would commence in the very
        near future and should be completed by the end of February 1996.
        "C&S already supplies our 127 Northern Region stores and has done so
        for the last six months," he said.  "Based upon our excellent
        experience with C&S thus far, we are confident that this arrangement
        will provide an orderly flow of goods to our stores, while at the
        same time achieving significant cost savings."
        


            Grand Union said it recognizes the importance of doing all it
        can to help the members of the three unions and other employees
        impacted by this decision.  "We fully intend to discuss with each
        Local Union the effects of the closings," he said, "including
        severance pay and other termination issues.  In addition, we are
        arranging with the New York and New Jersey State Labor Departments
        to make their services available on-site to all affected employees."
        


            Grand Union currently operates 230 stores in six Northeastern
        states.  Grand Union emerged from bankruptcy on June 15, 1995.
        Shares of its common stock are traded on NASDAQ National Market
        under the ticker symbol GUCO.
        


        CONTACT:  Grand Union,
                  Donald C. Vaillancourt, 201/890-6100
        




THE HASTINGS GROUP SELLS JACK HENRY STORE IN KANSAS
        CITY -- Local Buyer Will Continue To Operate Store --

        
            CHICAGO, Ill.--Dec. 11, 1995--The
Hastings
        Group, Inc.
  today announced that it has sold the Jack Henry
        Clothing Co., an institution in Kansas City, to a local investor
        group for $1.478 million in cash.  The transaction, which includes a
        long-term lease for the 38,000 sq. ft. store at 4740 Broadway,
        inventory and the rights to the Jack Henry name, was approved on
        December 6 by the U.S. Bankruptcy Court for the District of Delaware
        in Wilmington.  
        


            The store was purchased by Peter Arvan & Sons, owners of Peter's
        Clothiers in Overland Park, Kansas.  They intend to continue
        operating the store under the Jack Henry name and do not anticipate
        making any major changes in personnel.  
        


            "We are very pleased to have reached this agreement to sell Jack
        Henry to a local family intent on operating the store as a going
        concern,"  said Jeffrey Coats, Vice Chairman of The Hastings Group.
        "The store has consistently been one of our best performers, and we
        are pleased that its loyal customers will continue to be served.
        Clearly, this transaction is also in the best interests of our
        creditors and the employees at that location."  
        


            Peter Arvan, the store's new owner, said, "Since its founding
        more than 60 years ago, Jack Henry has been an institution in Kansas
        City.  We are very proud to literally give the store a new lease on
        life.  We intend to carry on Jack Henry's tradition of excellent
        customer service and look forward to restoring its enterpreneurial
        spirit."  
        


            Jack Henry was founded in 1931 by Jack D.  Henry Sr.  near its
        current location at the Plaza in Kansas City.  The store was part of
        a national 60-store group purchased by the Hastings Group in 1994.  
        


            As reported, due to the sustained downturn in the men's tailored
        clothing business, the Hastings Group filed a voluntary petition for
        protection under chapter 11 of the Federal Bankruptcy Code on
        October 23, 1995.  The Chicago-based company has indicated that it
        plans to close or sell all of its stores by early 1996.  
        


        CONTACT:  Michael Freitag,
                  Adam Weiner,
                  Kekst and Company
                  212/593-2655
        




Legacy announces definitive
        agreement with Rexon, listing on TSE and closing of special warrant
        private placement

        
            MARKHAM, ONTARIO--Dec. 11, 1995--Legacy Storage
        Systems International Inc. has entered into a definitive agreement
        with Rexon Incorporated (NASDAQ -
"REXNQ") which has been approved
        by the unsecured creditors's committee for Rexon/Tecmar, Inc. (a
        subsidiary of Rexon).  The purchase agreement contemplates a plan of
        reorganization under which Legacy acquires the business of Rexon and
        its subsidiaries, including to the extent possible the purchase of
        all shares of a reorganized Rexon.  The transaction is subject to
        approval of The United States Bankruptcy Court for the District of
        Colorado.  
        


            In the event that Rexon's plan of reorganization is not
        confirmed by the Bankruptcy Court by March 1, 1996, the purchase
        agreement contemplates that Rexon will seek approval of the
        Bankruptcy Court to sell substantially all of the assets of Rexon
        and its subsidiaries to Legacy pursuant to section 363 of Title 11
        of the U.S. Bankruptcy Code.  In addition to approval of the
        Bankruptcy Court, closing of the transaction si subject to a number
        of conditions including completion of due diligence satisfactory to
        Legacy and approval of all applicable stock exchanges.  It is
        anticipated that the transaction will be completed by Legacy on or
        about March 1, 1996.  
        


            As previously announced, the purchase price is to be satisfied
        through the assumption of debt, the payment of cash and the issuance
        of common shares of Legacy having a trading value at closing of U.S.
        $5 million.  These shares will be subject to certain escrow
        conditions.  
        


            Rexon has entered into a no-shop commitment whereby it
        undertakes not to solicit alternate purchasers or investors for the
        business of Rexon.  In addition, Rexon has agreed to a "top-up"
        requirement under which it has agreed not to accept any offers for
        the purchase of Rexon unless the purchase price exceeds that payable
        by Legacy by at least U.S. $2 million.  In the event that a
        purchaser other than Legacy acquires the business of Rexon, Legacy
        is entitled to a break-up fee of U.S. $1 million.  The no-shop, top-
        up and break-up fee provisions will become effective on approval by
        the Bankruptcy Court.  If these provisions are approved by the
        Bankruptcy Court, Legacy will issue an additional 2.5 million common
        shares of Legacy. Legacy also announced that it has satisfied all
        conditions for listing on The Toronto Stock Exchange, and that its
        common shares commenced trading on the TSE on December 8, 1995 under
        the symbol "LEG".  
        


            The Company also announced that it completed its previously
        announced special warrant financing for gross proceeds of $31.68
        million.  This financing has been underwritten by Yorkton Securities
        Inc., Griffiths McBurney & Partners and Loewen, Ondaatje, McCutcheon
        Limited.  A total of $7 million of these proceeds are immediately
        available to the company, while the balance is to be held in escrow
        for release in connection with the closing of the Rexon purchase
        transaction.  
        


            David Killins, President and CEO of Legacy, stated:  "We believe
        that this transaction is an excellent opportunity for both parties
        and will spawn a strong new data storage organization with
        tremendous global growth potential."  
        


            Rexon Inc. manufactures and distributes 1/4" cartridge (QIC)
        tape drives under the Wangtek brand name, digital audio tape (DAT)
        drives under the WangDat brand name and Tecmar tape back-up
        solutions.  Rexon Inc. distributes its tape back-up products though
        a field sales force and international network of more that 100
        distributors.  Rexon Inc. also has OEM and VAR relationships with a
        number of major U.S. computer companies.  Rexon operates its own
        manufacturing facility out of Singapore.  
        


            Legacy Storage Systems International Inc. is a personal computer
        peripheral systems corporation operating in the data storage
        subsystems sector of the computer systems industry.  Legacy
        manufactures, assembles and distributes data storage subsystems for
        the personal computer local area network environment, provides
        technical support services to any users of its products, conducts
        research and development to upgrade its existing products and
        develops new products for all major operating systems.  Legacy's
        products are marketed worldwide to Fortune 500 companies.  
        


            The Alberta Stock Exchange has not reviewed and does not accept
        responsibility for the accuracy of this news release.
        


        CONTACT:  David Killins, President & C.E.O., 905/475-1077 or
                  Alain Lambert, 514/844-7212



        ANACOMP REACHES REFINANCING AGREEMENT IN PRINCIPLE

        
            ATLANTA, Dec. 11, 1995 -- Anacomp, Inc. (NYSE:
AAC), today
        announced that it has reached an agreement in principle on a
        financial restructuring of the company with the committee of holders
        representing all of Anacomp's publicly-held unsecured debt: the
        company's 15% Senior Subordinated Notes, the company's 9%
        Convertible Subordinated Debentures, and the company's 13.875%
        Convertible Subordinated Debentures.  Anacomp intends to file a
        registration statement by Dec. 15, 1995 with the Securities and
        Exchange Commission (the "SEC") and, upon SEC approval of the
        registration statement, to begin to solicit votes for approval of a
        prepackaged plan of reorganization under Chapter 11 of the United
        States Bankruptcy Code that would accomplish the restructuring.
        


            Pursuant to the terms of this proposal, (i) the company's senior
        secured debt would be exchanged into new Senior Secured Notes (the
        "New Senior Secured Notes") with a four-year maturity and periodic
        sinking fund payments, which notes would be collateralized by first
        liens on substantially all of the assets of the company; (ii) the
        company's 15% Senior Subordinated Notes would be exchanged into $195
        million principal amount of new 13% Senior Subordinated Notes with a
        six-year maturity, plus 92.5% of the company's new common stock;
        (iii) the company's 13.875% Convertible Subordinated Debentures and
        9% Convertible Subordinated Debentures would be exchanged into 7.5%
        of the company's new common stock, plus warrants to purchase 2.5% of
        the company's new common stock; and (iv) the company's existing
        redeemable preferred stock and common stock would receive warrants
        to purchase an aggregate of 1.0% of the company's new common stock.
        The coupon on the New Senior Secured Notes would be 12.5% (assuming
        acceptance by the senior secured debt of the prepackaged plan) or
        12.0% (if the plan is rejected by such class).  The full details of
        the proposal will be contained in the registration statement to be
        filed by the end of the week.
        


            Under the proposal, Anacomp's trade creditors and vendors would
        be paid in full in the ordinary course of business, without any
        impairment by the prepackaged plan of reorganization.  The company's
        commitments to its customers would remain unaffected.

        
            Anacomp will be soliciting approval for the proposal from its
        senior secured lenders, public bondholders, and holders of its
        preferred and common stock.  Certain representatives of the
        company's senior secured lenders have indicated that they would
        reject the proposal.  Anacomp believes that the prepackaged plan can
        be confirmed without the approval of its senior secured lenders.
        There can be no assurance that the restructuring will be consummated
        on the terms set forth in the proposal or otherwise.
   

     
            "Anacomp is pleased to reach this agreement in principle and
        hopes to obtain an agreement among all of its creditors during the
        solicitation of its restructuring," noted Lang Lowrey, the company's
        president and recently appointed chief executive officer.  "If the
        company is successful in consummating its restructuring plan, the
        company will have the appropriate capital structure for its ongoing
        operations as well as sufficient resources to grow its business,
        including the acquisition of certain new digital technologies."
      

  
            Anacomp is a leading provider of multiple-media data management
        solutions, delivering cost-effective strategies that incorporate
        micrographic, digital, and magnetic output media.
        


        /CONTACT:  Jeff Withem, Corporate Communications, 404-876-3361, or
        Nancy Vandeventer, Investor Relations, 800-350-3044, both of
        Anacomp/