TCR_Public/951218.MBX BANKRUPTCY CREDITORS' SERVICE, INC.



        HOUSE OF FABRICS REACHES AGREEMENT IN PRINCIPLE FOR EXTENSION OF DIP
        FACILITY

        
            SHERMAN OAKS, Calif., Dec. 18, 1995 -- href="chap11.hf.html">House of Fabrics,
        Inc.
(NYSE: HF) said today that it had reached an agreement in
        principle late Friday with its bank group, led by Bank of America as
        agent, for an extension of its debtor-in-possession (DIP) financing
        facility through April 30, 1996 in the amount of $17.3 million.  The
        company's original post-petition financing facility was due to
        expire on January 31, 1995. The company currently has no borrowings
        outstanding against the facility.
        


            "The extension of the DIP facility provides additional assurance
        to our vendors that - as House of Fabrics completes the final stage
        of its Chapter 11 restructuring - we have the continued ability to
        pay for the orders we are currently placing for spring merchandise,"
        said Gary L. Larkins, House of Fabrics President and Chief Executive
        Officer.
        


            "The extended credit facility is more than adequate to provide
        for all of our planned purchases and demonstrates the continued
        support of our bank group," Mr. Larkins said.
        


            The extension is subject to the completion of documentation and
        final approval of, among others, the Bankruptcy Court.  The company
        said it expects to receive court approval on January 11, 1996.
        


        House of Fabrics filed to restructure under Chapter 11 November 2, 1994.


        /CONTACT:  Sandra Sternberg or Rivian Bell, both of Sitrick And
        Company, 310-788-2850/



        ANACOMP POSTPONES FILING REGISTRATION STATEMENT

        
            ATLANTA, Dec. 18, 1995 -- Anacomp, Inc. (NYSE:
AAC) today
        announced that it has postponed filing a registration statement
        relating to a prepackaged plan of reorganization under Chapter 11 of
        the United States Bankruptcy Code.  The company previously announced
        that it has reached an agreement in principle on a financial
        restructuring with the committees of holders representing all of
        Anacomp's publicly held unsecured debt.
        


            Anacomp decided to postpone filing the registration statement to
        give the company's senior secured lenders and publicly held
        unsecured debt additional time to negotiate the terms of the
        restructuring proposal.
        


            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/




        SOUTHWESTERN LIFE INSURANCE CO. CLAIMS PAYING
ABILITY RATING PLACED
        ON RATING WATCH--UP BY DCR

        
            CHICAGO, Dec. 18, 1995 -- Duff & Phelps Credit
Rating Co.
        (DCR) has changed the Rating Watch designation on the `B` (Single-B)
        claims paying ability rating of Southwestern Life Insurance Co.
        (Southwestern Life) from Rating Watch-Uncertain to Rating Watch-Up.
        This action reflects the December 15 sale of the company by href="chap11.ich.html">I.C.H.
        Corp.
(ICH) to Southwestern Financial Corp. (SFC).  SFC is a new
        company formed for the acquisition by PennCorp Financial Group, Inc.
        and Knightsbridge Capital Fund I, L.P.  DCR intends to meet with SFC
        management in the near term to discuss their plans for Southwestern
        Life.  The ultimate rating for Southwestern Life will be based on
        the financing of the acquisition, the terms of the transaction,
        management`s strategic plans and the financial strength of SFC and
        its owners.
        


            Southwestern Life`s claims paying ability rating was downgraded
        in January 1995 from `BB+` (Double-B-Plus) to `B` (Single-B) and
        placed on Rating Watch-Uncertain upon ICH`s announcement of a
        corporate restructuring including the suspension of the preferred
        dividend, the potential write-down of intangible assets, and a
        charge to earnings related to realized CMO (collateralized mortgage
        obligations) losses.
        


            These events reduced the financial flexibility of the parent
        company to meet required debt repayments in late 1995 and 1996.

        
            On October 10, 1995, ICH announced that it had filed voluntary
        petitions for relief under Chapter 11 of the U.S. Bankruptcy Code
        and had signed a definitive agreement to sell Southwestern Life and
        two other subsidiaries to Shinnecock Holdings (Shinnecock) for $202
        million. Later that month, the Bankruptcy Court approved a
        competitive offer procedure by which other parties could compete
        with the Shinnecock agreement.  On December 5, the Bankruptcy Court
        approved a $260 million bid from SFC.  The acquisition closed
        December 15, 1995.
   

     
        /CONTACT:  Julie A. Burke, CPA, CFA, 312-368-3158, Douglas L. Meyer,
        CFA, 312-368-2061, both of Duff & Phelps Credit Rating Co./




        COBRA ANNOUNCES NEW FINANCING

        
            GOSHEN, Ind., Dec. 18, 1995 -- Cobra
Industries
(UL: COI)
        said today that it has received debtor-in-possession (DIP) financing
        of $2.573 million from Congress Financial Corporation, New York, and
        has reached an agreement for continued Cobra dealer Floor Plan
        Financing with Deutsche Financial Services, Matteson, IL.
        


            "Both of these financing arrangements will better enable Cobra
        to fulfill significant customer orders placed at the 33rd Annual
        National RV Trade Show in Louisville," said Thomas A. DeNova,
        chairman and chief executive officer of the recreational vehicle
        manufacturer.  He said that the company exhibited 17 new models at
        the show, including a tent camper with the industry's first king
        size bed slide out option and an extra light weight towable trailer.
        "Orders exceeded our expectations, and the new financing is helping
        us gear up production to meet this demand," he said.
        


            Cobra Industries, headquartered in Goshen, Indiana, is one of
        North America's largest recreational vehicle producers, with
        manufacturing and distribution facilities in Indiana, California,
        Texas and Georgia.  The company produces conventional trailers, park
        trailers, folding camper trailers and van conversions.  Cobra has
        been operating under Chapter 11 of the United States Bankruptcy Code
        since October 27, 1995.
        


        /CONTACT:  James J. Roop or Robert G. Berick of Watt, Roop & Co.,
        216-566-7019/