TCR_Public/951212.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



Wedgestone Financial announces loss on
        Genesis loan and deferred tax benefit

        
            IRWINDALE, Calif.--Dec. 11, 1995--Wedgestone
        Financial (OTC:WDGF) Monday announced that it will incur a loss on a
        loan to Genesis Plastics Inc.
        


            Wedgestone had made the loan to Genesis, an unrelated plastics
        recycler, in 1992.  Genesis, had previously filed for protection
        under Chapter XI of the United States Bankruptcy Code on Aug. 24,
        1994 and had been unsuccessful in its efforts to secure a buyer for
        its Charleroi, Penn., recycling facility.
        


            Wedgestone held a senior security interest in the inventory,
        receivables and certain equipment of Genesis.  On Nov. 29, 1995, in
        accordance with its rights under the loan agreement with Genesis,
        Wedgestone consented to the liquidation of the Genesis' inventory
        and equipment through a public auction.  As a result of this action,
        Wedgestone will record a one-time loss of approximately $700,000 in
        December 1995.  
        


            In an unrelated matter, Wedgestone also announced Monday that it
        will record a substantial deferred tax benefit in December 1995.
        This benefit derives from the continued favorable sales and earnings
        performance of the company's automotive products business segment
        and management's estimate of the company's future ability to utilize
        its net operating loss carryforward for federal income taxes over
        the next three years.  The company stated that, when taken together,
        the sum of these two events will not have an adverse effect on 1995
        earnings.
        


            Wedgestone is primarily engaged in the business of manufacturing
        automotive parts for the light duty truck aftermarket.  It
        manufactures its products in Irwindale; St. James, Minn. and Pelham,
        Ga.  The company distributes its products through its national
        distribution system under the trade names Fey, Tuff Bar, Hercules
        and Westin and continues to actively seek acquisitions to augment
        its internal growth.
        


        CONTACT:  Wedgestone Financial,
                  Jeffrey Goldstein, 212/980-3883
        




REXON announces definitive agreement
        with Legacy Storage Systems

        
            LONGMONT, Colo.--Dec. 11, 1995--href="chap11.rexon.html">REXON Inc.
        Monday announced that the company has entered into a definitive
        purchase agreement with Legacy Storage Systems International Inc.
        (TSE/ASE:LEG) which has been approved by the unsecured creditors'
        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 by the U.S. 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 would 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 II
        of the U.S. Bankruptcy Code.
        


            In addition to approval of the Bankruptcy Court, closing of the
        transaction is subject to a number of conditions including
        completion of a due diligence analysis satisfactory to Legacy and
        the approval of all applicable stock exchanges.  It is anticipated
        that the transaction will be completed by the companies on or about
        March 1, 1996.
        


            Rexon has entered into a commitment (no-shop) whereby it will
        not 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
        a minimum of $2 million (USDLR).
        


            In the event that a purchaser other than Legacy acquires the
        business of Rexon, Legacy would be entitled to a break-up fee of $1
        million (USDLR).  The no-shop, top-up and break-up fee provisions
        would become effective when approved by the Bankruptcy Court.  If
        these provisions are approved by the Bankruptcy Court, Legacy will
        issue an additional 2.5 million common shares.
        


            If the conditions are met, the price of approximately $27
        million is to be satisfied through the assumption of debt, the
        payment of cash and the issuance of shares of Legacy having a
        trading value, at closing, of $5 million (USDLR).
        


            Legacy is a personal computer peripheral systems corporation
        operating in the data storage subsystems sector.  Legacy
        manufactures, assembles and distributes data storage subsystems for
        the personal computer local area network environment.  It provides
        technical support services to users of its products, conducts
        research and development to upgrade existing products and develops
        new products for all major operating systems.
        


        Legacy markets worldwide to Fortune 500 companies.

            REXON is a publicly owned company dedicated to data
storage and
        systems for the computer industry.  It offers Wangtek 1/4-inch
        cartridge (QIC) and Digital Audio Tape (DAT) drive product.  Tecmar
        brand solutions include QICVault, DATaVault, ProLine and ProLine CX.
        Rexon manufactures in Singapore.
   

     
        CONTACT:  J. Embry Co.,
                  J. Embry, 310/355-0761