Concentra Corp. announces third-quarter results

            BURLINGTON, Mass.--Jan. 18, 1996--Concentra
        Corporation (NASDAQ: CTRA), a leading supplier of sales and
        engineering automation software solutions, today announced its
        operating results for the third quarter and nine months ending
        December 31, 1995.  

            Revenues for the third quarter of fiscal year 1996 were $4.3
        million, compared with $5.3 million for the same period last year.
        The net loss for the third quarter was $1.2 million, compared with
        net income of $0.8 million.  The net loss per share for the quarter
        was $0.23 on 5.3 million shares outstanding compared with net income
        per share of $0.19 on a pre-IPO share count of 4.2 million shares
        outstanding for the same period last year.  The net loss for the
        third quarter of fiscal 1996 includes a one-time restructuring
        charge of $0.04 per share for severance costs associated with a
        reduction in the company's workforce.  

            Revenues for the nine months ending December 31, 1995 were $13.9
        million, which was approximately even with the same period last
        year. Including the one-time restructuring charge, the net loss for
        the nine month period ending December 31, 1995 was $0.8 million, or
        $0.15 per share, on 5.3 million shares outstanding, compared with
        net income of $1.5 million, or $0.40 per share, on a pre-IPO share
        count of 3.9 million shares for the same period last year.  

            "As previously stated, the third-quarter loss was due to lower
        revenues and restructuring charges," said Lawrence W. Rosenfeld,
        chairman and chief executive officer.  "The lower revenues reflect
        purchasing delays in a number of accounts.  Despite these delays,
        Concentra did receive several significant orders during the quarter
        from United Technologies, Morton International, Ford Motor, Boeing,
        Airbus and Valeo.  Although the timing of large orders is not always
        predictable, we are confident about our long-term business outlook.
        To enhance our operations, we implemented programs focused on
        controlling and reducing costs, sharpening our marketing focus and
        increasing efficiencies throughout the organization."  

            Mr. Rosenfeld added, "While the task of introducing our new
        product, Selling Point has been challenging, I am encouraged by our
        progress during the past quarter.  Our sales and technical support
        organization is fully trained and proficient in the use of the
        product.  Moving forward, our sales efforts will be focused on
        striking a better balance between large, long-term strategic
        accounts and small- and medium-sized accounts where our design and
        engineering expertise provide us with competitive advantages.  Our
        marketing and engineering organizations continue to enhance the
        functionality of Selling Point, demonstrated by the integration of
        Selling Point with i2's Rhythm 3.0 product to better serve
        manufacturing users and the integration of Xcellnet's Remoteware
        software to support communications with remote users while
        minimizing data replication." Concentra Corporation is the leading
        provider of object-oriented sales and engineering software
        solutions.  Using Concentra's software, market-leading companies
        worldwide in the aerospace, automotive, industrial equipment and
        construction industries are creating customer-driven product
        designs, configurations and sales proposals in minutes, not months.
        Headquartered in Massachusetts, the company maintains offices across
        the U.S., Europe and Asia.  

            The consolidated condensed statement of operations and condensed
        balance sheets are attached.  

                             CONCENTRA CORPORATION
                      (in thousands, except per share data)
                             Three months ended   Nine months Ended
                                 December 31,        December 31,
                              1995       1994      1995       1994
           Software              $3,077     $3,036    $8,201     $6,386
           Services               1,114      2,130     5,334      5,527
           Related party software
        and services             83        139       358      2,049
        Total revenues            4,274      5,305    13,893     13,962
        Operating expenses
           Cost of software
        licenses                318        319       888      1,026
           Cost of services         686        574     1,705      1,397
           Sales and marketing    3,077      2,319     8,388      6,233
           Research and development 756        560     2,247      1,775
           General and
        administrative          712        535     1,906      1,619
           Restructuring charge     196                  196
        Total operating expenses  5,745      4,307    15,330     12,050
        (Loss) Income from
         operations              (1,471)       998    (1,437)     1,912
        Interest income (expense),
         net                        166        (69)      561       (212)
        Other income (expense)       (8)        21        61        129
        (Loss) Income before
         income taxes            (1,313)       950      (815)     1,829
        (Benefit) Provision for
         income taxes               (99)       141                  285
        Net (loss) income       ($1,214)      $809     ($815)    $1,544
        Net (loss) income per common and common
          equivalent shares      ($0.23)     $0.19    ($0.15)     $0.40
        Weighted average number of
         common and common equivalent
         shares outstanding       5,315      4,152     5,283      3,896

                            CONCENTRA CORPORATION
                               (in thousands)
                                    December 31, March 31,
                                         1995       1995
           Cash and cash equivalents       $9,571    $17,010
           Accounts receivable              6,570      5,919
           Property and equipment, net      3,067        891
           Intangible assets and
        capitalized software, net       2,655      1,920
           Other assets                     1,172        722
        TOTAL ASSETS                      $23,035    $26,462
           Accounts payable and accrued
        expenses                       $2,475     $4,226
           Deferred revenue                 1,762      3,696
           Other liabilities                1,459        633
        Total liabilities                   5,696      8,555
        Total stockholders' equity         17,339     17,907
           STOCKHOLDERS' EQUITY           $23,035    $26,462

        CONTACT:  G.M. Schimmoeller,
                  Vice President and C.F.O.   
                  (617) 229-4647              
          Janet Page,
Marketing Communications
(617) 229-4669  

General Acceptance Corp. makes

            BLOOMINGTON, Ind.--Jan. 18, 1996--General
        Acceptance Corp. announced today that GE Capital Corporation has
        notified General Acceptance Corp. of the occurrence of an event of
        default under the Loan and Security Agreement for covenant
        violations relating to loan loss and delinquency ratios.  

            GE Capital has agreed to continue funding under the $100 million
        revolving line, while the companies expeditiously develop a plan,
        which is designed to restore and maintain these ratios at acceptable

            General Acceptance Corp. continues to review its contracts
        receivable and the adequacy of loan loss reserves.  Due to
        significantly higher loan losses in the 4th quarter of 1995, the
        company anticipates that the results of this review will require an
        additional loan loss provision, which would create a net loss for
        the 4th quarter of 1995.

            General Acceptance Corp. is a specialized consumer finance
        company, principally engaged in purchasing and servicing installment
        sale contracts, relating to the sale of used automobiles by dealers,
        with whom the company has established a formal business
        relationship, to consumers with limited access to traditional
        financing sources.  The company operates in 19 states, is
        headquartered in Bloomington and has regional offices in Ohio,
        Illinois, Florida, Missouri, New Jersey, Pennsylvania, Arizona and

        GAC's stock is traded on the NASDAQ under the symbol "GACC."

        CONTACT:  General Acceptance Corp., Bloomington,
                  Russell Algood, 812/876-3555


            WILMINGTON, Del., Jan. 18, 1995 -- href="chap11.columbia.html">The Columbia Gas System
(NYSE: CG) announced today that Catherine Good Abbott,
45, has
        been named Chief Executive Officer of its two interstate pipeline
        subsidiaries effective immediately.

            Abbott, a Principal of Gem Energy Consulting, Inc., with more
        than 18 years experience in the energy industry, replaces James P.
        Holland, who has resigned as chairman and CEO of Columbia Gas
        Transmission Corp. and Columbia Gulf Transmission Co. after more
        than 20 years of service. The two companies operate the second
        largest underground natural gas storage system in the country and a
        23,000 mile interstate natural gas pipeline system that extends from
        the Gulf of Mexico to New England and the Eastern Seaboard.  They
        deliver about five percent of the natural gas consumed in the United

            Columbia System Chairman Oliver G. Richard III said he
        considered both internal and external candidates in seeking a
        successor for Holland.  "We wanted someone with an extensive
        background in the energy business, an innovative thinker and a
        dynamic leader," Richard said. "Cathy Abbott was the perfect choice,
        and I am excited to have her join the management team of the new
        Columbia.  Her extensive experience in the natural gas industry, in
        both the public and private sectors, makes her well suited to lead
        the company."

            Richard praised Holland for maintaining the profitability and
        operational stability of Columbia's transmission operations during
        the four years that Columbia Transmission operated under Chapter 11.
        "He and his staff not only successfully weathered the financial
        problems, but also restructured both companies to make them strong
        competitors in the new energy marketplace."

            In announcing his resignation, Holland said that "with the
        Chapter 11 proceedings successfully concluded, I believe that the
        companies' as well as my own personal interests are best served by
        my stepping aside to pave the way for new leadership at the
        transmission companies.  The past four years have been particularly
        stressful, and I look forward to spending more time with my family
        and exploring other business opportunities."

            Abbott also complimented Holland and his management team,
        stressing that Columbia's transmission companies are "well-
        positioned to capitalize on growth opportunities in the months and
        years ahead.  I look forward to building on this strong foundation
        to lead the company in four key directions:  developing creative
        regulatory policies, expanding and tailoring our services to meet
        customer needs and external competition, promoting cost discipline,
        and providing more opportunities for employees to develop their
        skills and assume responsibility." Abbott pointed to the $400
        million market expansion program that Columbia Transmission
        announced recently as an example of the strength of the companies
        and their growth potential.

            Speaking on behalf of Columbia's Board of Directors, Lead
        Director James R. Thomas II of Charleston, W.Va., said:  "We're
        enthusiastic at the course that Rick Richard is charting for
        Columbia and endorse his game plan for making the new Columbia a
        major player in the nation's energy marketplace and a company that
        is committed to providing its customers with real choices and its
        shareholders with increasing value."

            From 1985 to 1995, prior to the formation of Gem Energy
        Consulting, Abbott was a vice president for various business units
        within Enron Corporation.  Among her many responsibilities were
        managing Enron's national marketing of unregulated natural gas,
        directing marketing and supply for Transwestern Pipeline Co., an
        Enron subsidiary, establishing Enron's first approach to trading and
        valuing "basis"( natural gas locational price differentials) and
        developing on and off balance sheet financing products for storage
        operators and end-users.

            Before joining Enron, Abbott was vice president of policy
        analysis for the Interstate Natural Gas Association of America
        (INGAA) where she organized the first Policy Analysis Department.

            From 1977 to 1982, she directed a number of analytic offices in
        the Department of Energy, making policy recommendations on
        deregulation of natural gas and electricity.  While in Washington,
        she also served at the White House Office of Energy Policy and
        Planning and at the Environmental Protection Agency.

            Abbott holds a master's degree in public policy from the John F.
        Kennedy School of Government at Harvard University and a bachelor's
        degree with high honors from Swarthmore College in Pennsylvania.

            The Columbia Gas System, Inc., is one of the nation's largest
        natural gas systems.  Its 17 operating subsidiaries are engaged in
        the exploration, production, purchase, marketing, storage,
        transmission and distribution of natural gas as well as other energy
        operations including electric power generation.

        /CONTACT:  Bill McLaughlin, 302-429-5443, or  Bill Chaddock,
        302-429-5261, or financial, Tom Hughes, 302-429-5363, or Ken Murphy,
        302-429-5471, all of Columbia Gas/


            OLDWICK, N.J., Jan. 18, 1995 -- Effective
        A.M. Best Company has raised the "B+" (Very Good) Best's Ratings of
        three life insurance subsidiaries of Southwestern Financial Corp. to
        "B++" (Very Good) and removed their ratings from "under review"

            The companies include Southwestern Life Insurance Company,
        Constitution Life Insurance Company and Union Bankers Insurance
        Company, all of Dallas.

            This rating action follows Southwestern Financial Corp.
        completing its acquisition of these companies and a review of the
        ongoing operations and financial structure of the group with
        management. Southwestern Financial is a newly formed entity
        sponsored by PennCorp Financial Group and Knightsbridge Capital Fund
        I.L.P., with PennCorp holding a 65% interest. Southwestern Financial
        Corp. purchased these units from I.C.H.
pursuant to a
        bankruptcy court auction in which the winning bid was $260 million,
        consisting of $210 million in cash $40 million in convertible notes
        and $10 million in Penncorp common stock.

            A.M. Best anticipates that this acquisition by Southwestern
        Financial will afford the life insurance subsidiaries an enhanced
        level of financial stability with the ultimate backing of PennCorp
        and Knightsbridge. These insurance companies had previously been
        hindered in their operations by the well publicized problems of
        I.C.H., the former parent organization. It is also noted that the
        life insurance companies continue to be well capitalized, have ample
        liquidity, maintain strong asset and liability portfolios, and have
        viable marketing franchises in their fields of operation.

            In addition, the following PennCorp subsidiaries were removed
        from "under review" status and affirmed with a Best's Rating of
        "B++" (Very Good): Pioneer Security Life Insurance Company, American-
        Amicable Life Insurance Company of Texas and Pioneer American
        Insurance Company, all of Waco, Texas; Professional Insurance Corp.,
        Jacksonville, Fla.; Occidental Life Insurance Company of North
        Carolina, Raleigh, N.C.; and Executive Fund Life Insurance Company
        and Pennsylvania Life Insurance Company, both of Lemoyne,

            Also, Georgia International Life Insurance Company and Integon
        Life Insurance Corp., both of Winston-Salem, N.C., were removed from
        "under review" status and affirmed with a Best's Rating of "B+"
        (Very Good), while Peninsular Life Insurance Co., Raleigh, N.C., had
        its Best's Financial Performance Rating of "5" (Average) affirmed.

            Unaffected by this announcement were the "NA-4" (Rating
        Procedure Inapplicable) designations held by Integon Financial Life
        Insurance Corporation, Winston-Salem, and Pacific Life and Accident
        Insurance Company, Austin, Texas. Marquette National Life Insurance
        Company, Louisville, Ky., another subsidiary of I.C.H. that has been
        acquired by Southwestern Financial Corp. as part of this
        transaction, also maintains its Best's Classification of "NA-4."

        /CONTACT:  Tom Upton of A.M. Best Company, 908-439-2200, x5380/


            OAK BROOK, Ill., Jan. 18, 1995--Growth Environmental,
        Inc., an Oak Brook, Ill. based environmental services company,
        announced today that two of its operating subsidiaries, Growth
        Environmental Services, Inc. and Growth Energy Services, Inc.,
        intend to seek protective relief under Chapter 11 of the Bankruptcy
        Code.  The subsidiaries will continue to work to restructure their
        finances and hope to quickly emerge from Chapter 11.

            As previously announced, effective at the close of business Dec.
        11, 1995, the company's common stock no longer trades on The Nasdaq
        SmallCap Market.

            Growth Environmental, Inc. provides consulting, engineering,
        remediation and analytical services to commercial and industrial
        clients primarily in the continental U.S.

        /CONTACT:  Michael N. Marsh, executive vice president, Growth
        Environmental, 708-990-2751/

Digital Microwave Corp. Reports Third
        Quarter 1996 Results; Orders up 21%; Charge to Earnings

            SAN JOSE, Calif.--Jan. 18, 1996--Digital
        Microwave Corp. (NASDAQ:DMIC) today reported a net loss of $6.7
        million ($0.43 per share) on sales of $32.7 million in the third
        quarter ended Dec. 31, 1995, compared with net income of $2.8
        million ($0.20 per share) on sales of $48.9 million in the third
        quarter of the prior fiscal year.  

            The financial results for the third quarter ended Dec. 31, 1995
        include one-time charges of $7.5 million, and a one-time tax credit
        of $2.0 million.  

            Sales for the first nine months of fiscal 1996 were $114.2
        million, compared to sales of $120.3 million for the first nine
        months of fiscal 1995.  For the first nine months of fiscal 1996,
        the company reported a net loss of $6.2 million ($0.43 per share),
        compared with net income of $7.0 million ($0.50 per share) for the
        first nine months of the previous fiscal year.  

            During the third quarter, the company received $40 million in
        new orders shippable over the next 12 months.  The 12-month backlog
        at Dec. 31, 1995 was $74 million (net of orders cancelled during the
        quarter), compared to $76 million at Sept. 30, 1995.  

            Charles D. Kissner, president and chief executive officer of
        Digital Microwave Corp., attributed the third quarter loss to
        "inventory and other reserves taken this quarter, as well as lower
        revenue, as previously anticipated.  As we previously announced, the
        company's recent restructuring, reductions in the workforce, and
        changes in the product mix and backlog prompted the need for the
        additional charges.  We are confident that the actions taken in the
        third quarter will strengthen the company's position as we continue
        to address the worldwide market demand for wireless communications.

            "We are encouraged by the 21% increase in new orders over the
        prior quarter.  Orders in the Asia Pacific region were particularly
        strong.  We are also pleased by the positive reception in the
        marketplace for the SPECTRUM II product line," Kissner said.  

            "We are optimistic as we move forward with a significantly
        improved balance sheet position, broad product offering, and focused
        management team," Kissner added.  

            Headquartered in San Jose, CA, Digital Microwave Corp. is a
        leading worldwide designer, manufacturer and marketer of advanced,
        high-performance digital microwave radios and other short- and
        medium-haul communications products, systems and services.  This
        comprehensive family of technologically advanced products is
        designed for use in cellular telephone systems, private networks and
        other wireless telecommunications applications worldwide.  -0-

                       DIGITAL MICROWAVE CORP.
              (in thousands, except per share amounts)
                               Three Months Ended    Nine Months Ended
                                     Dec. 31,             Dec. 31,
                                 1995      1994        1995       1994
        Net sales                   $32,698   $48,921    $114,183   $120,289
        Cost of sales                32,329    36,691      93,581     86,539
        Gross profit                    369    12,230      20,602     33,750
        Operating expenses:            
          Research and
        development               2,731     2,910       8,567      8,223
          Selling, general and
        administrative            6,936     5,998      20,279     17,568
        Total operating expenses      9,667     8,908      28,846     25,791
        Operating income (loss)      (9,298)    3,322      (8,244)     7,959
        Other income (expense)          566      (254)         81
        Income (loss) before
           income tax                (8,732)    3,068      (8,163)     7,727
        Tax provision (credit)       (2,010)      307      (1,953)       773
        Net income (loss)           $(6,722) $  2,761   $  (6,210)  $  6,954
        Net income (loss) per share $( 0.43) $   0.20   $  ( 0.43)  $   0.50
        Weighted average shares
         outstanding                 15,772    13,955      14,592     13,798
                          DIGITAL MICROWAVE CORP.
                               (in thousands)
                                             Dec. 31,         March 31,
                                               1995             1995
                                            (unaudited)       (audited)
        Cash                                    $  2,889          $  3,019
        Accounts receivable - net                 30,670            32,513
        Inventories                               36,536            46,732
        Other current assets                       3,702             6,344
           Total current assets                   73,797            88,608
        Property & equipment - net                15,355            13,977
           Total assets                          $89,152          $102,585
        Liabilities and Stockholders' Equity
        Lines of credit                         $  2,035           $11,700
        Note payable - current                     3,333             3,364
        Capital lease obligations - current        1,010               776
        Accounts payable                          12,680            26,373
        Income taxes payable                       1,195             1,629
        Other accrued liabilities                 15,922            17,770
           Total current liabilities              36,175            61,612
        Note payable - long term                   2,778             5,556
        Capital lease obligations - long term        909               806
        Total liabilities                         39,862            67,974
        Stockholders' equity                      49,290            34,611
            Total liabilities and
                 stockholders' equity        $89,152          $102,585

        CONTACT:  Digital Microwave Corp.,
                 Rebecca Wallo, 408/943-0777