BALTIMORE, Jan. 24, 1996 - Environmental Elements
        Corporation (NYSE: EEC) today announced operating results for its
        third fiscal quarter and nine months ended December 31, 1995.

            The Company reported a loss from continuing operations for the
        quarter of $206,000 ($.03 per share), an improvement from the third
        quarter loss of $538,000 ($.08 per share) last year, despite a
        decline in sales during the quarter to $12,830,000 from $22,937,000
        last year. Bookings were $16.9 million, up from $5.1 million during
        the third quarter last year.

            For the nine months ended December 31, the Company reported a
        loss from continuing operations, including a $950,000 ($.14 per
        share) restructuring charge in the second quarter, of $3,418,000
        ($.50 per share), compared with a loss of $2,446,000 ($.36 per
        share) last year. Sales for the nine months of $47,610,000 were down
        from $54,593,000 for the same period last year.  Year-to-date
        bookings, excluding $32 million of unbooked commitments, were $39.4
        million, compared to $65.1 million for the first three quarters last
        fiscal year.

            Including gains from discontinued operations, the third quarter
        net loss was $206,000 ($.03 per share), compared to net income of
        $1,562,000 ($.23 per share) last year, and the year-to-date net loss
        was $3,067,000 ($.45 per share) compared to a loss of $340,000 ($.05
        per share) last year.

            E.H. Verdery, President and Chief Executive Officer, commented,
        "This third quarter, although not yet in the black, reflects
        significant progress on several fronts.  Bookings were at their
        highest level in five quarters, and included conversion of two of
        our committed projects to firm orders.  Pulp and paper bookings were
        at their highest level in more than a year, and backlog increased
        for the first time since September 1994.  Importantly, despite a 44%
        decline in sales from last year, our operating results improved, due
        to higher margins and much lower overheads.  This indication that
        our restructurings during the past two years are really taking hold
        to improve performance and to lower break-even levels is gratifying.
        While we will not rest until we are back in the black, this
        demonstration of progress is welcome."

            Environmental Elements Corporation, a leading air pollution
        control systems provider for almost fifty years, designs and
        supplies electrostatic precipitator, fabric filter, flue gas
        desulfurization, and acid gas cleaning systems.  Environmental
        Elements' systems enable a broad range of customers in the power
        generation, pulp and paper, waste to energy, rock products, metals
        and petrochemical industries worldwide to operate their facilities
        in compliance with particulate and gaseous emissions standards.  The
        Company also supplies a complete range of aftermarket parts and
        services for its own systems and for systems supplied by others.
        For further information please contact Lisa A. Morris, Investor
        Relations Administrator, at 410-368-7092.

                                  Three Months Ended       Nine Months Ended
                                     December 31,             December 31,
        In thousands of dollars
         except per-share amount
                                       1995      1994      1995     1994
        Sales                        $12,830   $22,937   $47,610 $54,593
        Cost of sales                 10,896    20,490    42,477  48,698
          Gross Profit                 1,934     2,447     5,133   5,895
        Selling, general and
         administrative expenses       2,008     2,900     7,225   8,201
        Restructuring charge               0         0       950       0
        Total Operating Expense        2,008     2,900     8,175   8,201
        Operating Income (Loss)          (74)     (453)   (3,042) (2,306)
        Interest and other expense      (132)      (83)     (376)   (124)
          Income (Loss) from Continuing
           Operations before
           Income Taxes                 (206)     (536)   (3,418) (2,430)
        Provision for income taxes         0         2         0      16
        Income (Loss) from
          Continuing Operations         (206)     (538)   (3,418) (2,446)
        Gain on disposal of discontinued
         operations, net                   0     2,100       351   2,106
        Net Income (Loss)              $(206)   $1,562   $(3,067)  $(340)
        Per share of common stock
         and common stock equivalents:
        Income (Loss) from continuing
         operations                   $(0.03)  $(0.08)   $(0.50)  $(0.36)
        Income from discontinued
         operations                     0.00     0.31      0.05     0.31
        Net Income (Loss)             $(0.03)   $0.23    $(0.45)  $(0.05)
        Average shares outstanding     6,884     6,849     6,875   6,842
        Backlog, end of period       $33,300   $50,900

        /CONTACT:  Lisa A. Morris, Administrator, Investor Relations,
        of Environmental Elements, 410-368-7092/

INTERLINQ Software Corp. announces second-quarter results

            KIRKLAND, Wash.--Jan. 24, 1996--INTERLINQ
        Software Corp. (Nasdaq:INLQ) today reported a net loss of $76,000
        (or 1 cent per share on 5,983,000 shares) for the second quarter
        ended Dec. 31, 1995, compared with a net loss of $69,000 (or 1 cent
        per share on 5,769,000 shares) for the same period last year.  

            Net revenue for the quarter was $3,109,000, up 15% from
        $2,714,000 for the same period last year.  

            For the six months ended Dec. 31, 1995, the company reported a
        net loss of $180,000 (or 3 cents per share on 5,970,000 shares)
        compared with a net loss of $139,000 (or 2 cents per share on
        5,725,000 shares) for the same period last year.  Net revenue for
        the six months was $6,063,000, up 7 percent from $5,682,000 last

            "Interest rates have dropped and the mortgage lending
        environment is improving,"  said Jiri Nechleba, president and chief
        executive officer.  "With this favorable lending environment, we
        have seen three quarters of sequential revenue growth.  While a
        continuation of this trend in our revenue should positively impact
        our business, our restructuring program late in the second quarter
        demonstrates our commitment to proactively manage our bottom line.
        We continue to focus on expense control, leveraging our large
        customer base for revenue opportunities and bringing new products to

            INTERLINQ Software Corp. is a leading provider of PC-based
        software solutions for the residential mortgage lending industry.
        The company's MortgageWare(R) family of products are sold to banks,
        savings institutions, mortgage banks, mortgage brokers, and credit
        unions.  MortgageWare products automate mortgage loan management for
        1,800 customers in more than 5,000 sites throughout the United
        States and its territories.

                            INTERLINQ Software Corp.
                            Statements of Operations
                          Quarter      Quarter     Six mos.     Six mos.
                           ended        ended       ended        ended
                          Dec. 31,     Dec. 31,    Dec. 31,     Dec. 31,
                           1995         1994        1995          1994
        Net revenues:
         Software license
          fees              $1,435,000  $1,011,000  $2,725,000   $2,278,000
         Software support  
          fees               1,397,000   1,403,000   2,794,000    2,792,000
         Other                 277,000     300,000     544,000      612,000
        Total net
         revenues        3,109,000   2,714,000   6,063,000    5,682,000
        Cost of revenues:
         Software license    
          fees                 391,000     332,000     752,000      676,000
         Software support    
          fees                 428,000     439,000     899,000      912,000
         Other                 177,000     157,000     319,000      331,000
        Total cost of    
         revenues          996,000     928,000   1,970,000    1,919,000
        Gross profit     2,113,000   1,786,000   4,093,000    3,763,000
        Operating expenses:
         Product development   514,000     267,000   1,080,000      477,000
         Sales and
          marketing          1,040,000     973,000   2,075,000    2,117,000
         General and
          administrative       870,000     883,000   1,619,000    1,790,000
        Total operating
         expenses        2,424,000   2,123,000   4,774,000    4,384,000
        Operating income  
         (loss)           (311,000)   (337,000)   (681,000)    (621,000)
        Net interest and
         other income          198,000     164,000     409,000      276,000
        Income (loss) before  
         income taxes         (113,000)   (173,000)   (272,000)    (345,000)
        Income taxes           (37,000)   (104,000)    (92,000)    (206,000)
        Net income
         (loss)           ($76,000)   ($69,000)  ($180,000)   ($139,000)
        Per Share Amounts:
        Net income (loss) per
         common and common
         equivalent share       ($ .01)     ($ .01)     ($ .03)      ($ .02)
        Weighted average number
         of common and common
         equivalent shares
         outstanding         5,983,000   5,769,000   5,970,000    5,725,000
                          INTERLINQ Software Corp.
                               Balance Sheets
                                          Dec. 31,         June 30,
                                            1995             1995
        Current assets:
          Cash and cash equivalents           $8,152,000       $12,903,000
          Short-term investments, at cost      5,264,000         1,471,000
          Accounts receivable, less
           allowance for doubtful accounts
           of $136,000 and $119,000,
           respectively                        1,375,000         1,075,000
          Current portion of contracts
           receivable, less allowance for     
           doubtful contracts of $60,000
           and $34,000, respectively              90,000           151,000
          Income taxes refundable                      0           987,000
          Inventory                               47,000            33,000
          Prepaid expenses                       292,000           282,000
          Deferred income taxes                  202,000           172,000
         Total current assets             15,422,000        17,074,000      
        Furniture and equipment, at cost       4,840,000         4,620,000
          Less accumulated depreciation
           and amortization                    2,771,000         2,255,000
         Net furniture and equipment       2,069,000         2,365,000      
        Contracts receivable, excluding
         current portion                          27,000            28,000
        Capitalized software costs, less
         accumulated amortization of
         $1,816,000 and $1,187,000,
         respectively                          3,888,000         2,134,000
        Other assets                               8,000             8,000
                                         $21,414,000       $21,609,000     
        Liabilities and Stockholders' Equity     
        Current liabilities:     
         Accounts payable                       $202,000          $123,000
         Accrued commissions                      65,000           105,000
         Other accrued liabilities               475,000           565,000
         Customer deposits                       142,000           107,000
         Accrued Income Tax Payable               50,000                 0
         Deferred software support fees        2,762,000         2,536,000
           Total current liabilities           3,696,000         3,436,000
        Noncurrent liabilities, excluding
         current installments:
         Deferred rent and other      
          lease obligations                      427,000           446,000
         Deferred software support fees           20,000            19,000
         Deferred income taxes                   238,000           370,000
           Total noncurrent liabilities          685,000           835,000
        Stockholders' equity:                                 
         Common stock, $.01 par value.  
         Authorized 30,000,000 shares;
          issued and outstanding 5,957,550
          shares and 5,968,000 shares       
          respectively                            60,000           60,000
         Additional paid-in capital           13,043,000       13,168,000
         Retained earnings                     3,930,000        4,110,000
           Total stockholders' equity         17,033,000       17,338,000
                                        $ 21,414,000     $ 21,609,000

        CONTACT:  INTERLINQ Software Corp., Kirkland,
                  Stephen A. Yount, 206/827-1112


            IRVINE, Calif.--Jan. 24, 1996--AST Research,
        Inc. (ASTA-NASDAQ) today announced revenues of $612.9 million for
        the second quarter of transition period 1995 and $1.016 billion for
        the six-month transition period, ended Dec. 30, 1995.  This compares
        to revenues of $640.2 million recorded during the prior year quarter
        and $1.136 billion recorded during the previous year's six-month

            AST's 1995 transition period encompasses July 2 through Dec. 30,
        1995.  It was created by the decision to change the fiscal year end
        from the Saturday closest to June 30, to the Saturday closest to
        Dec. 31.  

            The company reported a net loss of $128.6 million, or net loss
        per share of $2.88 for the second quarter of transition period 1995,
        compared to a net loss of $21.7 million and net loss per share of 67
        cents recorded during the comparable prior year period.  The second
        quarter loss includes a $13 million charge for the previously-
        announced restructuring of the Pacific Rim manufacturing operations.
        AST reported a net loss of $225.0 million and net loss per share of
        $5.27 during the six-month transition period 1995, compared to a net
        loss of $61.1 million and net loss per share of $1.89 reported
        during the previous year's six month period.  

            "While the net loss is disappointing, there are some positive
        signs contained within the second quarter numbers, including a
        significant sequential increase in revenues, growth in international
        markets and significant improvements in our balance sheet,"  said
        Ian Diery, AST president and chief executive officer.  "This
        quarter, we focused on improving our sales and laying the foundation
        for more improved results.  Lower margins were caused by sales of
        older technologies to reduce inventories, shipment delays of some
        new products and continued industry pricing pressures.
        Significantly reducing our levels of older inventory should allow us
        to take advantage of new, leading-edge products that are scheduled
        for introduction during the current quarter.  

            "AST's management, board of directors and employees are
        dedicated to returning the company to profitability.  Our goal is to
        make AST consistently one of the first to market in the computer
        industry with leading edge products.  With the help of our largest
        shareholder and strategic partner, Samsung Electronics, AST is
        driving to shorten and add flexibility to its supply chain and
        become the most reliable supplier to the indirect channel, and
        hence, their customers.  

            "While AST is working extremely hard to meet the challenges in
        turning around its business, this is a process which will take some
        time and is subject to many risks and uncertainties."  

            International sales of $351.6 million for the quarter reflect a
        24 percent increase over the comparable prior year period, and
        included a 32 percent increase in Europe.  Significant year-over-
        year sales gains were achieved in the European marketplace, with
        strong gains in the Nordic region, as well as the United Kingdom.
        The company also continued to expand its global presence with new
        offices in Bangkok, Thailand, and was again reconfirmed by Dataquest
        as holding the No.  1 market share position in China.  Total
        international revenues during the six-month transition period 1995
        were $563.2 million, representing a 25 percent increase over the
        previous year's six month period.  

            Revenues in the Americas region for the quarter were $261.3
        million, representing a 27 percent decrease from sales recorded
        during the comparable prior year period.  Total Americas revenues
        during the six-month transition period 1995 were $453.1 million,
        representing a 34 percent decrease over the prior year six-month
        period.  The decrease represents lower consumer retail channel sales
        during the period when compared to the prior year period.  During
        the first quarter of the transition period 1995, the company
        significantly reduced its sales to the domestic consumer retail
        channel, which turned around in the last quarter due to increased
        product offerings. On a sequential quarter basis, the Americas
        region experienced a revenue increase of 36 percent.  

            During the second quarter of transition period 1995, AST shipped
        339,000 units, including 301,000 desktops and servers and 38,000
        notebooks.  Sales of Pentium-based systems represented 84 percent of
        total desktop and server units.  Shipments during the six-month
        transition period 1995 totaled 514,000 desktops and servers and
        70,000 notebooks.  

         Balance Sheet Summary

            At Dec. 30, 1995, total cash and cash equivalents were $125.4
        million, with $75.0 million in short-term borrowings.  Total net
        inventory was $252.3 million, down from $349.2 million at Sept.  30,
        1995 and represented approximately 10 inventory turns.  Accounts
        receivable totaled $392.6 million, which represented 58 days sales
        outstanding, down from 63 days sales outstanding in the previous

            During the quarter, AST announced it had entered into an
        agreement with Samsung Electronics pursuant to which Samsung would
        provide the company with additional credit support in the form of a
        guaranty for a $200 million line of credit for two years and a $100
        million vendor credit line for component purchases from Samsung.  As
        consideration for this support, AST granted Samsung a five-year
        option to purchase up to 4.4 million shares of AST common stock at
        one-cent per share, exercisable beginning on July 1, 1996.  If the
        option is exercised in full, Samsung's ownership position would
        increase to approximately 45 percent, from its present position of
        approximately 40 percent.  

            In December, AST obtained a $100 million revolving credit
        facility utilizing a portion of the Samsung guarantee and is
        negotiating to increase the facility to $200 million.  The company
        expects to complete the increase by the end of the current quarter.

         Second Quarter Summary

            During the second quarter, AST experienced significant changes
        in upper management, introduced new models to its desktop and
        notebook system families and began implementation of its turnaround
        plan.  In November, Ian Diery joined the company as president and
        chief executive officer, following a successful tenure at Apple

            Product deliveries during the quarter included new Premmia and
        Bravo business desktop models, as well as new multimedia models to
        the Advantage! consumer retail family, featuring the latest in
        microprocessors, voice recognition and other technologies.  The
        company also shipped new Ascentia mobile systems, which collectively
        feature some of the industry's fastest processors and largest
        displays, and collaborated with Samsung to deliver the Advantage!
        Explorer notebook PC to the consumer retail market.  

            "We are continuing to work closely with AST as they proceed with
        their turnaround plan,"  said Won S.  Yang, Samsung Electronics
        senior executive managing director and an AST board member.  "Our
        increased support reflects the confidence we have in management's
        efforts and abilities to turn around the company."  

            Except for aforementioned historical information, the forward-
        looking statements contained within this news release involve risks
        and uncertainties.  Potential risks and uncertainties include, but
        are not limited to, continued competitive pricing pressures in the
        computer industry; the company's ability to continue to develop,
        produce and market products that incorporate new technology on a
        timely basis, that are priced competitively and achieve significant
        market acceptance; the effect of any continued losses on the
        company's supplier and customer relationships; and its needs for
        liquidity.  Additional information on factors which could affect the
        company's financial results are included in the company's report on
        Form 10-Q for the first quarter of transition period 1995, which is
        filed with the Securities and Exchange Commission.  

         Corporate Background

            AST Research Inc., a member of the Fortune 500 list of America's
        largest industrial and service companies, is one of the world's
        leading personal computer manufacturers.  The over two billion
        dollar company develops a broad spectrum of desktop, mobile and
        server PC products that are sold in more than 100 countries
        worldwide.  AST systems meet a wide range of customer needs, ranging
        from corporate business applications to advanced home and home
        office use.  Corporate headquarters is located at 16215 Alton
        Parkway, P.O.  Box 57005, Irvine, Calif.  92619-7005.  Telephone
        714/727-4141 or 800/ 876-4278.  Fax: 714/727-9355.  Information
        about AST and its products can be found on the World Wide Web at -0- *T  

                                      AST RESEARCH, INC
                            Condensed Consolidated Balance Sheets
                                       (In thousands)
                                            December 31,          July 1,
        1995 Assets:
          Cash and cash equivalents               $  125,387         $
          Accounts receivable, net                   392,598
          Inventories                                252,339
          Other current assets                        67,297
        Total current assets                     837,621          841,132  
          Property and equipment, net                 98,725
          Other assets                               119,696
        Total assets                          $1,056,042       $1,021,501  
         Liabilities and shareholders' equity:
          Current liabilities                     $  614,075       $
          Long-term debt                             125,540
          Other non-current liabilities                5,545
        Total liabilities                        745,160          758,263  
          Common stock and additional capital        415,182
          Retained earnings (deficit)               (104,300)
        Total shareholders' equity               310,882          263,238  
        Total liabilities and
          shareholders' equity                $1,056,042       $1,021,501  
                                        AST RESEARCH, INC.
                         Condensed Consolidated Statements of Operations
                             (In thousands, except per share amounts)
                        Three Months Ended          Six Months Ended
                            (Unaudited)                (Unaudited)
                    December 30,  December 31,  December 30,  December 31,
                            1995          1994          1995          1994
        Net sales        $   612,926  $    640,159   $ 1,016,283  $
        Cost of sales        623,032       573,841     1,033,158
          Gross profit (loss)(10,106)       66,318       (16,875)
         Selling and
          marketing           66,258        58,548       117,560
         General and
          administrative      24,295        21,567        48,186
         Engineering and
          development         10,041         8,648        19,608
         Restructuring charge  12,967             0        12,967
          Operating loss    (123,667)      (22,445)     (215,196)
         Other expense, net    (4,957)       (4,541)       (9,810)
          Loss before taxes (128,624)      (26,986)     (225,006)
         Income tax benefit         0        (5,262)            0
         Net loss         $  (128,624) $    (21,724)  $  (225,006) $
         Net loss
          per share      $     (2.88) $      (0.67)  $     (5.27) $
         Shares used in
          computing net
          loss per share      44,679        32,369        42,721
                                  AST RESEARCH, INC.
                          Computation of Net Loss per Share
                       (In thousands, except per share amounts)
                          Three Months Ended       Six Months Ended
                             (Unaudited)              (Unaudited)
                     December 30,  December 31, December 30,  December 31,
                             1995          1994         1995          1994
         Shares used in
          computing primary
          loss per share:
          Weighted average
           shares of common
           stock outstanding   44,679        32,369       42,721
          Effect of stock
           options treated as
           common stock
           equivalents under
           the treasury stock
         Weighted average common
          and common equivalent
          shares outstanding   44,679        32,369       42,721
         Net loss          $  (128,624)  $   (21,724) $  (225,006)  $
         Net loss per
          share - primary $     (2.88) $     (0.67)  $     (5.27)  $
         Shares used in
          computing fully
          diluted loss per
          Weighted average
           shares of common
           stock outstanding   44,679       32,369        42,721
          Effect of stock
           options treated
           as equivalents
           under the
           stock method
          Shares assumed
           issued on conversion
           of Liquid Yield
           Option Notes
         Weighted average
          common and common
          equivalent shares
          outstanding          44,679       32,369        42,721
         Net loss
         Net loss - primary
          per share       $  (128,624) $   (21,724)  $  (225,006)  $
         Adjustment for
          interest on LYONs,
          net of tax
         Adjusted net loss -
          fully diluted
          loss per share  $  (128,624) $   (21,724)  $  (225,006)  $
         Net loss per
          share -
          fully diluted   $     (2.88) $     (0.67)  $     (5.27)  $

        CONTACT: AST Research  
                 Emory Epperson (media), 714/727-7958
                 Misty Ohmart (analysts), 714/727-7728


            STAMFORD, Conn., Jan. 24, 1996--Income from Xerox
        Corporation's (NYSE: XRX) core document processing business
        increased 22 percent in the fourth quarter of 1995 to $379 million
        before a $98 million gain from a reduction in the Brazilian tax
        rate. Income in the 1994 fourth quarter was $311 million. For the
        full year, income grew 36 percent before the tax gain, to $1.1
        billion, compared with $794 million in 1994.

            Document processing primary earnings per share in the quarter,
        before the gain, increased 20 percent to $3.30, compared with $2.76
        in the comparable 1994 quarter. For the full year, primary earnings
        per share increased 38 percent to $9.32, compared with $6.73 in
        1994. On a fully diluted basis, earnings per share were $3.11 in the
        quarter, compared with $2.60, and $8.83 for the year, compared with
        $6.44. Including the Brazilian tax gain, fourth quarter income was
        $477 million, or $4.18 per primary share. On a fully diluted basis,
        earnings per share were $3.91. For the full year, document
        processing income, including the tax gain, was $1.2 billion, or
        $10.20 per primary share. On a fully diluted basis, earnings per
        share were $9.63.

            The lower Brazilian tax rate will increase ongoing income by $30
        million to $40 million annually in 1996 and beyond.

            Document processing revenues increased 4 percent to $4.8 billion
        in the fourth quarter, compared with $4.6 billion in the 1994 fourth
        quarter, and 10 percent to $16.6 billion in the full year, compared
        with $15.1 billion in 1994.

            Fourth quarter revenues in Europe and Brazil had double-digit
        growth on a pre-currency basis. U.S. revenues declined 3 percent in
        the quarter due to lingering effects of the realignment of the sales
        force implemented in early 1995, and the comparison with strong
        revenue growth in the 1994 fourth quarter, which included unusually
        high printer component sales. Excluding printer component sales,
        U.S. revenues were equal to the 1994 fourth quarter.

            "U.S. revenues were disappointing, but we have initiated the
        necessary corrective actions to return our U.S. operations to their
        historical effectiveness," said Xerox Chairman and Chief Executive
        Officer Paul A. Allaire. "Our strategic direction is sound and the
        market opportunities remain significant."

            Revenues from enterprise printing products increased 10 percent
        in the quarter and represented 29 percent of total revenues. Black-
        and-white copier revenues declined 2 percent and represented 57
        percent of total revenues.

            The growth in income reflects an operating margin improvement of
        1.7 percentage points in the quarter, driven by an improvement of
        4.1 percentage points in sales gross margins, compared with the 1994
        fourth quarter.

            "We are seeing continuing pricing pressures, but they have been
        more than offset by benefits from our productivity programs,"
        Allaire said.

            The worldwide work force declined by 2,400 in 1995, to 85,200,
        including 400 in the fourth quarter. A reduction of 1,000 in the
        quarter due to the restructuring program initiated in 1993 was
        partially offset by hiring to support the high-growth facilities
        management business. Reductions from the restructuring program now
        total 12,000 employees.

            "We continue to achieve our objectives for this program and have
        invested in systems and other productivity improvements to ensure
        ongoing cost reductions," Allaire said. "Our top priorities remain
        productivity and profitable revenue growth.

            "The global document processing market is growing at more than
        10 percent annually, driven by production publishing, color copying
        and printing, electronic printing and office network systems,"
        Allaire said.

            "With our broad line of highly competitive document products and
        systems, we are in a strong position to continue to grow our
        business and improve our financial returns in 1996," the Xerox
        chairman said, noting the fourth-quarter introduction of the first
        two products in the Document Centre Systems family.  These products
        print, scan, fax and copy documents for workgroups, with all
        operations managed over the network from each user's personal
        computer or on a walk-up basis.

        Insurance Results

            As a result of the agreements to sell the remaining insurance
        units of Talegen Holdings, Inc., announced Jan. 18, results from
        insurance operations are now accounted for as discontinued
        operations and all prior periods have been restated. Therefore,
        document processing will be the only continuing operation. The
        company has agreements to sell the Talegen units to investor groups
        led by Kohlberg Kravis Roberts & Co. for consideration totaling $2.7
        billion in transactions expected to close in the middle of this

            Discontinued operations had a loss of $1.57 billion in the
        fourth quarter, reflecting a charge of $1.546 billion as a result of
        the insurance disengagement. This charge consists of a non-cash loss
        on the sales of $978 million and $568 million primarily to cover
        additional Talegen loss reserves and all estimated future expenses
        associated with the excess-of-loss reinsurance coverage to Talegen.
        In addition, the balance of the insurance operations had a $24
        million loss in the quarter. The fourth quarter loss per share from
        discontinued operations was $14.20, on both a primary and fully
        diluted basis. The full-year loss from discontinued operations was
        $1.646 billion. The full-year loss per share was $14.89, on both a
        primary and fully diluted basis.

        Total Company Results

            As a result of the insurance charge, the company reported a loss
        of $1.1  billion in the fourth quarter, or $10.02 per primary share,
        and a loss of $472 million, or $4.69 per share, for the full year.
        On a fully diluted basis, the company reported a loss of $10.29 per
        share in the quarter and $5.26 for the full year. In the 1994 fourth
        quarter, the company had net income of $311 million, or $2.76 per
        primary share, and $794 million, or $6.73 per primary share, for the
        full year. Fully diluted earnings per share were $2.60 in the fourth
        quarter of 1994 and $6.44 for the full year.

        /CONTACT: Judd Everhart of Xerox, Stamford, Conn. 203 968-3572; or
        Brent Laymon of Xerox, 203 968-4237/

Bausch & Lomb reports financial results for 1995 fourth quarter 1993 and
1994 results to be restated

            ROCHESTER, N.Y.--Jan. 24, 1996--Bausch & Lomb
        (NYSE/BOL) reported today revenues for the fourth quarter ended
        December 30, 1995 amounted to $455.1 million.  A loss of $3.4
        million or $.04 per share was sustained in the period.  

            Earnings were reduced by a previously disclosed restructuring
        reserve of $17.4 million or $.30 per share after taxes, an
        additional provision of $3.6 million or $.06 per share after taxes
        for a litigation reserve, and the recognition of retirement and
        other benefits for former chairman and chief executive officer
        Daniel E.  Gill amounting to $4.4 million or $.08 per share after
        taxes.  Excluding those special items, Bausch & Lomb's net earnings
        for the fourth quarter amounted to $21.9 million or $.40 per share.

            The company also announced today its decision to restate its
        1993 financial results, with a corresponding restatement for 1994.
        Bausch & Lomb continues to believe that the accounting in 1993 was
        made in good faith based on facts known at that time by the company,
        its senior management and its outside auditors.  The company is
        taking this action due to uncertainties surrounding the execution of
        a fourth-quarter 1993 distributor program, designed to shift
        responsibility for the sale and distribution of a portion of Bausch
        & Lomb's U.S.  traditional contact lens business to distributors,
        and the improper recording of certain 1993 sunglass sales in
        Southeast Asia, which were identified in the course of an ongoing
        investigation conducted by the company.  The information obtained
        during the company's investigation over the past year has been
        provided to Price Waterhouse, the company's independent accountants,
        and they concur with management's decision to restate.  

            "The restatement is an effort to resolve continuing
        uncertainties related to past matters,"  said chairman and chief
        executive officer William H.  Waltrip.  "It's time to get on with
        moving our company forward with initiatives that will enhance
        shareholder value."  

            As previously reported, the company has conducted an extensive
        investigation of these matters and has taken several steps,
        including management changes and the curtailing of certain business
        practices, to address identified problems.  The company also is
        continuing to cooperate with an ongoing investigation by the staff
        at the Securities and Exchange Commission concerning these issues.  

            Restatement of the contact lens distributor program will reduce
        Bausch & Lomb's originally reported 1993 sales and net income by
        $22.3 million and $11.0 million respectively, while reversal of the
        sunglass sales in the Southeast Asia region will reduce previously
        reported 1993 sales by $19.8 million and net income by $6.6 million.
        In total, this restatement will reduce 1993 earnings per share by
        $.29.  The restatement will increase Bausch & Lomb's reported 1994
        sales and net income by corresponding amounts, but has no effect
        whatsoever on the company's 1995 financial results.  Bausch & Lomb
        intends to prepare revised financial statements reflecting
        appropriate adjustments to quarterly and annual figures for 1993 and
        1994 as soon as practical.  The income statement and product line
        comparisons released today reflect a restatement of the 1994 fourth
        quarter and full year.  

            Returning to a discussion of its most recent results, Bausch &
        Lomb reported today the $455.1 million in revenues from continuing
        businesses for the 1995 fourth quarter represented an increase of 2
        percent from the year-ago figure of $445.7 million.  This comparison
        does not include $35.9 million in 1994 revenues for a sports optics
        business that was divested in 1995, and for which no revenues were
        recorded in the most recent quarter.  

            Consolidated revenues from continuing product lines for 1995 in
        total reached $1,914.6 million, a gain of 7 percent over the 1994
        amount of $1,781.7 million.  Including results for the divested
        sports optics business, full-year sales were $1,932.9 million in
        1995 versus $1,892.7 million in 1994.  

            Net earnings for all of 1995 amounted to $112.0 million or $1.94
        per share compared to the amounts of $31.1 million or $.52 per share
        in 1994.  Results for both periods were impacted by costs for
        special charges.  The 1995 amounts also include a gain on the sale
        of the sports optics business.  Bausch & Lomb said net earnings
        reached $127.1 million or $2.20 per share in 1995, excluding the
        special charges and the gain on the sports optics divestiture.  

            On a geographic basis, excluding sales from the company's
        divested sports optics business, the company attained higher fourth-
        quarter revenues in all regions of the world except the Latin
        America, where demand was constrained by weak business conditions in
        Mexico and Brazil.  U.S.  revenues were modestly ahead of 1994,
        while gains of 14 percent and 7 percent were attained in Asia and
        Europe.  Currency movements increased consolidated revenues by $4.7
        million or 1 percent in the 1995 fourth quarter.  

            Revenues in Bausch & Lomb's healthcare segment in the 1995
        fourth quarter totaled $344.6 million, up approximately 3 percent
        from the same period a year ago.  Healthcare segment sales for the
        year in total increased 9 percent to $1,359.5 million from the 1994
        level of $1,249.9 million.  

             Fourth-quarter revenues in Bausch & Lomb's personal health
        sector declined 5 percent from the prior year due to sharply lower
        sales for the Interplak line of power toothbrushes.  That business
        has been impacted by intense competition, and Bausch & Lomb's board
        of directors yesterday authorized management to explore the possible
        divestiture of the Interplak line.  Worldwide contact lens care
        product revenues were essentially unchanged from a year ago as good
        demand for the Boston product line in the U.S.  and higher shipments
        of soft lens solutions in Europe, Asia and the Western Hemisphere
        offset a decline in U.S.  sales.  Recent market surveys indicate
        Bausch & Lomb is maintaining its strong position in the U.S.  lens
        care market, and the company said it believes the recent decline in
        revenues stemmed in part from an industry-wide slow down in
        shipments and the absence of retailer promotions.  Revenue growth
        approaching 15 percent was attained in the company's skin care
        business, while sales of over-the-counter medications in Europe grew
        almost 30 percent over the prior year.  Higher sales were also
        attained by the general eyecare product line in the U.S.  

            Medical sector revenues advanced 14 percent over the 1994
        fourth quarter.  Worldwide contact lens sales rose approximately 15
        percent, and were led by a 40 percent increase in sales of lenses
        used in disposable and planned replacement programs.  Double digit
        rates of sales growth were also attained by the company's
        prescription pharmaceutical business and its line of hearing aids.
        Bausch & Lomb's dental implant business achieved revenue growth
        approaching 20 percent during the quarter.  

            Revenues in the biomedical sector increased 5 percent over
        the 1994 fourth quarter.  Higher shipments of pathogen-free eggs and
        increased orders for toxicology testing products were the primary
        factors behind this growth in sales.  

            In Bausch & Lomb's optics segment, fourth-quarter sales for
        continuing product lines reached $110.5 million, 1 percent above the
        comparable 1994 amount of $109.7 million.  This comparison excludes
        $35.9 million in sports optics revenues recorded in the fourth
        quarter of 1994.  For the full twelve months of 1995, optics segment
        revenues were $573.4 million compared to the year-ago amount of
        $642.8 million.  Divested sports optics operations contributed $18.3
        million and $111.0 million to the respective periods.  Excluding
        those amounts, optics segment revenues for 1995 in total advanced 4
        percent over the prior year.  

            Worldwide sunglass revenues increased 3 percent over the fourth
        quarter of 1994.  Double-digit rates of growth were attained in the
        U.S.  and Europe.  This progress, which included substantially
        higher shipments of Revo sunglasses in the U.S., was significantly
        moderated by reduced sales in Mexico and Brazil.  

            "Very good progress has been made in addressing issues that have
        limited Bausch & Lomb's financial performance over the past two
        years.  However, much remains to be done,"  said William H.
        Waltrip. "We must accelerate our efforts to generate the $50 million
        savings in operating expenses that was identified as a key priority
        last December, and plans to bring this about should be finalized in
        coming weeks.  

            "A second major priority is to move new products into the market
        that are more closely aligned with the preferences of consumers
        worldwide.  This is especially true in the sunglass and contact lens

            "During 1996 we will be evaluating a range of strategies for
        improving financial returns in our contact lens business.  We must
        be certain that investments made in that area are commensurate with
        an appropriate level of risk, and that our assumptions about future
        gains in profitability are well founded."  

            Waltrip concluded by saying, "Our entire management team is
        focused on developing additional opportunities for building long-
        term shareholder value.  The next few quarters should see us taking
        new actions directed towards our goals of improved profitability, a
        more focused product portfolio and sharpened competitive strategies
        throughout our major businesses."

                                Bausch & Lomb
                            Statement of Earnings
            (Dollars Amounts in Thousands, Except Per Share Data)
                                 Quarter Ended         Twelve Months Ended
                             Dec. 30,    Dec. 31        Dec. 30,   Dec. 31,
                               1995       1994(a)        1995       1994(a)
        Net Sales
           Healthcare            $  344,595   $  336,022   $1,359,477
           Optics                   110,471      145,592      573,406
                                455,066      481,614    1,932,883    1,892,686
        Costs and Expenses
           Cost of products sold    202,035      237,359      859,984
           Selling, administrative
        and general (1)         195,228      200,165      769,935      724,219
           Research and development  17,988       14,953       65,622
           Restructuring charges (2) 26,697          -         26,697
           Goodwill impairment
        charge (3)                 -          75,000         -          75,000
                                441,948      527,477    1,722,238    1,772,919
        Operating Earnings           13,118      (45,863)     210,645
        Other (Income) Expense
           Investment income        (10,170)      (8,905)     (39,009)
           Interest expense          10,766       11,970       45,765
           (Gain) loss from
        foreign currency          1,986         (393)       6,244       (2,615)
           Gain on sale of Sports
        Optics Division (4)         -             -       (35,902)          -
           Litigation provision (5)   5,700           -        21,700
                                  8,282        2,672       (1,202)       3,425
        Earnings (Loss) Before Income
         Taxes and Minority Interest  4,836      (48,535)     211,847
           Provision for income taxes 2,324        7,058       78,068
        Earnings (Loss) Before
         Minority Interest            2,512      (55,593)     133,779
           Minority interest in
        subsidiaries              5,877        6,483       21,757       24,057
        Net Earnings (Loss)      $   (3,365)  $  (62,076)  $  112,022   $
        Net Earnings (Loss) Per
         Common Share            $    (0.04)  $    (1.04)  $     1.94   $
        Average Common Shares
         Outstanding (000s)                                    57,852
        (a) 1994 results have been restated based on uncertainties
        surrounding the execution of a fourth quarter 1993 distributor
        program and the improper recording of certain 1993 sunglass sales in
        Southeast Asia.  1994 fourth quarter sales, net earnings and
        per share improved by $2,561, $851 and $0.01, respectively.  For the
        full year, 1994 sales, net earnings and earnings per share improved
        by $42,134, $17,645 and $0.29, respectively.  
        (1)  CEO retirement in 1995 reduced full year and quarter four net
        earnings by $4,364 or $.08 per share.
        (2)  Restructuring charges recorded in 1995 reduced full year and
        quarter four net earnings by $17,353 or $.30 per share.
        (3)  Goodwill impairment charge recorded in quarter four 1994
        net earnings by $75,000 or $1.26 per share.
        (4)  The gain on sale of the Sports Optics Division increased full
        year net earnings by $20,823 or $.36 per share.
        (5)  Litigation provisions recorded in 1995 reduced full year net
        earnings by $14,241 or $.24 per share.
        BAUSCH & LOMB
        (Dollar Amounts in Thousands, Except Per Share Data)
                                Quarter Ended         Twelve Months Ended
                             Dec. 30,  Dec. 31,        Dec. 30,    Dec. 31,
                             1995        1994(a)       1995        1994(a)
        Net Sales
           Healthcare           $  344,595   $  336,022   $1,359,477
           Optics                  110,471      145,592      573,406
                            $  455,066   $  481,614   $1,932,883   $1,892,686
        Business Segment Earnings
           Healthcare                                     $  229,231 (1) $
        91,541 (2)
           Optics                                             42,324 (1)
                                                      ------------  ----------
                                                      $  271,555   $  163,616
        (a) 1994 results have been restated based on uncertainties
        surrounding the execution of a fourth quarter 1993 distributor
        program and the improper recording of certain 1993 sunglass sales in
        Southeast Asia.  1994 fourth quarter sales and segment earnings
        improved by $2,561 and $1,019, respectively.  For the full year,
        1994 sales and segment earnings improved by $42,134 and $26,002,
         (1) Restructuring charges recorded in 1995 reduced healthcare and
        segment earnings by $7,868 and $15,829 respectively.
        (2) Goodwill impairment charge recorded in 1994 reduced healthcare
        segment earnings by $75,000.

         CONTACT: Bausch & Lomb, Rochester
                  Investor Contact: Franklin T. Jepson
                   716/338-6025 (office) or 716/461-2534 (residence)
                  Barbara M. Kelley             Holly Echols
                  716-338-5386 (office)         716-338-8064 (office)
                  716-621-7141 (residence)      716-473-7104 (residence)
                                                1-800-701-1816 (pager)

Centex Reports Results for Third Quarter and Nine

            DALLAS--Jan. 24, 1996--Centex Corporation
        today announced results for the quarter ended Dec. 31, 1995, the
        third quarter of the company's 1996 fiscal year, and for the first
        nine months of fiscal 1996.  Dallas-based Centex (NYSE: CTX),
        through its subsidiaries, is the nation's largest home builder, a
        leading residential mortgage originator, and a top-ranked general
        building contractor.  Centex also owns a 49 percent interest in
        Centex Construction Products, Inc. (NYSE: CXP).  

            For the quarter ended Dec. 31, 1995, corporate revenues were
        $790,149,000, about the same as $793,205,000 for the same quarter in
        the prior fiscal year.  Net earnings for the current quarter were
        $15,156,000, a 16 percent improvement over $13,057,000 for the same
        quarter last year.  Earnings per share for the current quarter were
        $.52, an 18 percent increase over $.44 for the same quarter in
        fiscal 1995.  

            For the nine months ended Dec. 31, 1995, corporate revenues were
        $2,277,945,000, 8 percent less than $2,481,431,000 for the same
        period last year.  Net earnings for the current nine months were
        $37,580,000, 18 percent less than $45,861,000 for the same period in
        the prior fiscal year.  Including the gain from the April 1994 sale
        of 51 percent of CXP, Centex's total net earnings for the nine
        months last year were $83,356,000.  

            Earnings per share for the nine months this year were $1.29, 13
        percent less than $1.49 for the same period last year.  Including
        the CXP gain, Centex's total earnings per share for the nine months
        last year totaled $2.71.  

            Earnings per share for both the quarter and the nine months
        declined slightly less than net earnings due to fewer average shares
        outstanding in the current periods.  During the fiscal year ended
        March 31, 1995, Centex repurchased 3.74 million shares of its common
        stock, or about 12 percent of the shares outstanding at the
        beginning of its 1995 fiscal year.  

            Centex said corporate financial results for the quarter improved
        due to substantial earnings gains in its Home Building and its
        Financial Services businesses, as well as in its equity in the
        earnings of CXP.  These increases were offset somewhat by an
        increased loss in the company's Contracting and Construction
        Services business.  


            Home Building revenues for the current quarter were $499.2
        million, slightly higher than $485.0 million for the same quarter
        last year.  Operating earnings from Home Building were $28.6 million
        for the same quarter this year, a 17 percent gain over $24.4 million
        for the quarter in fiscal 1995.  

            Home closings for the current quarter totaled 2,948 units,
        slightly less than 2,994 units for the same quarter in the prior
        fiscal year.  Led by a 42 percent increase in the Southwest, unit
        orders rose in all regions to reach 2,678 for the quarter this year,
        20 percent higher than 2,223 orders for the same quarter a year ago.
        Centex's average home sales price for the quarter this year was
        $165,262, 3 percent higher than $160,331 for the same quarter in
        fiscal 1995 and only slightly higher than the average sales price of
        $163,143 for the Sept.  30, 1995 quarter.  Home Building margin per
        closed unit was $9,697 for the quarter this year, 19 percent higher
        than the per unit margin of $8,133 for the same quarter last year
        and 16 percent above the per unit margin of $8,387 for the quarter
        ended Sept.  30, 1995.  The Home Building operating margin in the
        current quarter rose to 5.73 percent vs.  5.02 percent for the same
        quarter last year and 5.08 percent in the quarter ended September

            For the nine months, Home Building revenues were $1.41 billion
        this year, 10 percent less than $1.57 billion for the same period
        last year.  Operating earnings from Home Building were $71.6 million
        for the nine month period this year, 15 percent less than $84.6
        million for the same period a year ago.  

            Home closings for the current nine months were 8,522 units, 12
        percent less than 9,696 units for the same period last year.  Home
        orders for the nine months of 9,308 were 18 percent higher than
        7,867 units for the same period a year ago.  

            The backlog of homes sold but not closed at Dec. 31, 1995 was
        4,773 units, 20 percent above 3,966 units at Dec. 31, 1994 and 5
        percent less than 5,043 units at Sept. 30, 1995.  


            Current quarter revenues from Financial Services were $33.3
        million, 22 percent higher than $27.3 million for the same quarter
        last year.  Operating earnings from Financial Services were $5.2
        million for the quarter this year, a 31 percent gain over $4.0
        million last year.  Last year's operating earnings were comprised of
        a $2.1 million loss from the company's mortgage banking business and
        a $6.1 million gain related to the December 1994 disposition of the
        company's savings and loan.  

            Mortgage originations for the quarter this year totaled 10,204,
        24 percent higher than 8,250 originations for the same quarter last
        year but slightly below 10,659 originations for the quarter ended
        Sept.  30, 1995.  Originations for Centex-built homes in this year's
        quarter were 2,108, 14 percent higher than 1,851 originations for
        the same quarter last year.  Spot (third-party) originations of
        8,096 were 27 percent above last year's 6,399 originations.  

            Total mortgage applications for the quarter of 9,754 were 36
        percent higher than 7,160 applications for the same quarter last
        year.  Builder applications rose 11 percent while spot applications
        increased 45 percent.  

            For the current nine months, revenues from Financial Services
        were $93.2 million, slightly lower than $94.7 million for the same
        period last year.  Operating earnings from Financial Services were
        $12.2 million for the nine months, 11 percent higher than $11.0
        million for the same period last year.  Last year's operating
        earnings included a $3.1 million profit from the company's mortgage
        banking business and a gain of $7.9 million from the company's
        former savings and loan operation.  

            Mortgage originations for the nine month period this year
        totaled 30,039, a slight increase over 29,910 originations for the
        same period last year.  Originations for Centex-built homes declined
        8.5 percent to 5,859 from 6,403 last year, while spot originations
        rose 3 percent to 24,180 this year from 23,507 for the same period a
        year ago.  

            Total mortgage applications for the nine months this year
        reached 32,337, up 19 percent from 27,110 applications for the same
        period a year ago.  Builder applications rose 42 percent for the
        period while spot applications increased 14 percent.  


            Revenues from Contracting and Construction Services were $257.6
        million for the quarter this year, 8 percent lower than $280.9
        million for the same quarter in the prior year.  Contracting and
        Construction Services reported an operating loss of $2.0 million for
        the quarter this year vs. a loss of $570,000 for the same quarter
        last year.  

            The current quarter loss was due primarily to the non-
        recognition during the quarter of earnings related to the Centex
        Construction Group's contract to build href="chap11.harrahs.html">Harrah's Jazzville Casino in
        New Orleans and to write-downs of certain other projects.  The
        Harrah's contract was suspended on Nov. 22, 1995 as a result of a
        bankruptcy filing by the Harrah's Jazz Company partnership.  

            For the current nine months, revenues from Contracting and
        Construction Services were $774.2 million, 5 percent less than
        $814.8 million for the same quarter last year.  Contracting and
        Construction Services reported an operating loss of $1.8 million for
        the nine months this year compared to last year's loss of $1.7
        million for the same period.  

            Centex said its Construction Group received approximately $166
        million of new contracts during the quarter vs.  $305 million of new
        work for the same quarter last year.  New contracts for the current
        nine month period totaled $729 million compared to $982 million for
        the same period last year.  The backlog of uncompleted construction
        contracts at Dec.  31, 1995 was $1.236 billion, slightly less than
        the backlog of $1.40 billion at Dec.  31, 1994 and the backlog of
        $1.375 billion reported at Sept.  30, 1995.  


            For the current quarter, Centex Corporation's 49 percent "Equity
        in Earnings of Affiliate (CXP)" was $7.5 million, a 73 percent
        increase over $4.3 million for the same quarter in fiscal 1995.  For
        the current nine months, Centex's 49 percent equity in CXP totaled
        $21.4 million, a 55 percent increase over $13.8 million for the same
        period a year ago.  

            CXP benefitted during the quarter from stronger than expected
        product shipments due to unseasonably mild weather.  


            Centex and its subcontractors have a claim totaling nearly $40
        million against Harrah's Jazzville for completed but unpaid work.
        Centex's current liability to its subcontractors is for
        substantially less than the total claim and the company is
        negotiating to minimize that exposure.  Centex said it believes that
        it and its subcontractors will ultimately recover a substantial
        portion of their losses.  Centex said it will complete the
        evaluation of its recovery potential and take any required charges
        in connection with its fiscal year-end report.  

            Centex noted that the recent lower level of interest rates has
        had a positive impact on both its Home Building and Financial
        Services businesses.  Improving backlogs in these businesses,
        coupled with the continuation of favorable results from CXP, should
        continue to generate earnings gains for the remainder of fiscal 1996
        and provide the foundation for additional gains in the following
        fiscal year.

                       Centex Corporation and Subsidiaries
                        Summary of Consolidated Earnings
                (dollar amounts in thousands, except per share data)
                                                  Quarter Ended
                                                   December 31,
                                           1995           1994        Change
                                       -----------    -----------     ------
         Revenues                          $   790,149    $   793,205
         Earnings Before Income Taxes      $    24,906    $    19,311
         Net Earnings                      $    15,156    $    13,057
         Earnings Per Share                $      0.52    $      0.44
         Average Shares Outstanding         29,229,616     29,485,220
                                                  Nine Months Ended
                                                     December 31,
                                           1995           1994        Change
                                       -----------    -----------     ------
         Revenues                          $ 2,277,945    $ 2,481,431
         Earnings Before Income Taxes
        Before Gain on CXP's IPO       $    61,994    $    71,849      (14%)
        Gain on CXP's IPO                       --         59,328
                                       -----------    -----------
          Earnings Before Income Taxes $    61,994    $   131,177
         Net Earnings
        Before Gain on CXP's IPO       $    37,580    $    45,861      (18%)
        Gain on CXP's IPO                       --         37,495
                                       -----------    -----------
          Net Earnings                 $    37,580    $    83,356
         Earnings Per Share
        Before Gain on CXP's IPO       $      1.29    $      1.49      (13%)
        Gain on CXP's IPO                       --           1.22
                                       -----------    -----------
          Earnings Per Share           $      1.29    $      2.71
         Average Shares Outstanding         29,050,846     30,722,621
                      Centex Corporation and Subsidiaries
                  Revenues and Earnings by Lines of Business
                           (dollars in thousands)
                                                  Quarter Ended
                                                   December 31,
                                           1995           1994        Change
                                       -----------    -----------     ------
           Home Building                   $   499,199    $   485,042
                                                63%            61%
           Financial Services                   33,307         27,258
                                                 4%             4%
           Contracting and Construction
        Services                           257,643        280,905       (8%)
                                                33%            35%
                                       -----------    -----------
         Total                             $   790,149    $   793,205
                                               100%           100%
         Operating Earnings
           Home Building                   $    28,587    $    24,351
                                                73%            77%
           Financial Services                    5,227          3,989
                                                13%            12%
           Contracting and Construction
        Services                            (1,950)          (570)    (242%)
                                                (5%)           (2%)
           Other, Net                              (29)          (398)
                                                 -%            (1%)
        Equity In Earnings of
        Affiliate (CXP)                      7,519          4,337       73%
                                                19%            14%
                                       -----------     ----------
         Total Operating Earnings               39,354         31,709
                                               100%           100%
           Corporate General Expenses           (3,540)        (3,980)
           Interest Expense                    (10,908)        (8,418)
                                       -----------    -----------
         Earnings Before Income Taxes      $    24,906    $    19,311
                       Centex Corporation and Subsidiaries
                  Revenues and Earnings by Lines of Business
                           (dollars in thousands)
                                                  Nine Months Ended
                                                    December 31,
                                           1995           1994        Change
                                       -----------    -----------     ------
           Home Building                   $ 1,410,522    $ 1,571,897
                                                62%            63%
           Financial Services                   93,243         94,731
                                                 4%             4%
           Contracting and Construction
        Services                           774,180        814,803       (5%)
                                                34%            33%
                                       -----------    -----------
         Total                             $ 2,277,945    $ 2,481,431
                                               100%           100%
         Operating Earnings
           Home Building                   $    71,619    $    84,615
                                                69%            80%
           Financial Services                   12,199         10,987
                                                12%            10%
           Contracting and Construction
        Services                            (1,795)        (1,720)      (4%)
                                               (2%)            (2%)
           Other, Net                             (275)        (1,306)
                                                 -%            (1%)
        Equity In Earnings of
        Affiliate (CXP)                     21,358         13,812       55%
                                                21%            13%
                                       -----------     ----------
         Total Operating Earnings              103,106        106,388
                                               100%           100%
           Corporate General Expenses          (10,910)       (11,320)
           Interest Expense                    (30,202)       (23,219)
                                       -----------    -----------
         Earnings Before Gain on CXP
          Initial Public Offering
          and Income Taxes                  61,994         71,849      (14%)
           Gain on CXP Initial Public
        Offering                                --         59,328
                                       -----------    -----------
         Earnings Before Income Taxes      $    61,994    $   131,177
         Centex Corporation and Subsidiaries
                      Housing Activity by Geographic Area
                       Three Months Ended       Nine Months Ended
                       ------------------     ---------------------
                       12/31/95  12/31/94     12/31/95     12/31/94
                       --------  --------     --------     --------
           West               568        522       1,680        1,811
           Midwest            317        315         885          948
           East               703        688       2,013        2,175
           Southeast          563        613       1,549        1,927
           Southwest          797        856       2,395        2,835
                       -------    -------    --------     --------
                        2,948      2,994       8,522        9,696
                                           Sales (Orders) Backlog
                                    12/31/95      9/30/95      12/31/94
                                  -----------  ------------   -----------
           West                            695           713           566
           Midwest                         507           566           365
           East                          1,081         1,191           948
           Southeast                     1,079         1,151           965
           Southwest                     1,411         1,422         1,122
                                  -----------   -----------   -----------
                                     4,773         5,043         3,966
                                      Sales (Orders)
                       Three Months Ended       Nine Months Ended
                       ------------------     ---------------------
                       12/31/95  12/31/94     12/31/95     12/31/94
                       --------  --------     --------     --------
           West                550       489        1,772        1,621
           Midwest             258       176          950          691
           East                593       533        2,176        1,844
           Southeast           491       473        1,736        1,505
           Southwest           786       552        2,674        2,206
                       --------  --------     --------     --------
                         2,678     2,223        9,308        7,867

        CONTACT: Centex Corporation,
                 Laurence E. Hirsch or Sheila E. Gallagher, 214/559-6500


            CAMBRIDGE, Mass., Jan. 23-- Genetics Institute,
        Inc. (Nasdaq: GENIZ) today reported a net loss of $22,488,000, or
        $(0.84) per share, on revenues of $172,055,000 for the year ended
        December 31, 1995. The loss includes a special one-time charge of
        $24,857,000, or $0.93 per share relating to the Company's fourth
        quarter acquisition of SciGenics, Inc.  Excluding this nonrecurring
        charge, the Company would have reported net income of $2,369,000, or
        $0.09 per share, for 1995.  This is compared with a net loss of
        $18,875,000, or $(0.71) per share, on revenues of $130,880,000 for
        the year ended December 31, 1994.

            For the fourth quarter of 1995, the Company reported a net loss
        of $26,174,000 (including the special charge of $24,857,000
        described above), or $(0.98) per share, on revenues of $41,880,000.
        Excluding this nonrecurring charge, the Company would have reported
        a net loss of $1,317,000 or $(0.05) per share for the fourth quarter
        of 1995.  This is compared with a net loss of $11,924,000, or
        $(0.45) per share, on revenues of $27,953,000 for the fourth quarter
        of 1994.

            Revenue for the year ended December 31, 1995 increased to
        $172,055,000 from $130,880,000 for the prior year.  This increase
        was driven primarily by: higher product sales that rose to
        $83,220,000 from $43,482,000 a year ago; and higher royalty income
        that totaled 55,993,000 in 1995 compared to $42,603,000 a year ago.
        In addition, Collaborative R&D revenue included $9.5 million and
        $28.9 million for the years ended December 31, 1995 and 1994,
        respectively, relating to collaborations with American Home Products
        Corporation, the Company's majority shareholder.

            "1995 clearly represents a financial turning point for Genetics
        Institute," said Gabriel Schmergel, the Company's President and
        Chief Executive Officer.  "Excluding the SciGenics special charge,
        the Company has achieved profitability based largely on a 91%
        increase in product sales and a 31% increase in royalty income.
        Further, the recently announced restructuring and expansion of our
        EPO license agreement with Boehringer Mannheim GmbH should help us
        to achieve our goal of increased profitability in 1996."

            Genetics Institute is a leading biopharmaceutical firm engaged
        in the discovery, development and commercialization of human
        pharmaceuticals through recombinant DNA and other technologies.  The
        Company has a diversified portfolio of licensed and proprietary
        pharmaceutical products at various stages of development, including
        treatments for anemia, hemophilia, cancer, bone damage, infectious
        disease, inflammatory conditions and immune system disorders.

            American Home Products Corporation (NYSE: AHP) holds a majority
        interest in Genetics Institute.  AHP is one of the worlds largest
        research based pharmaceutical and health care products companies and
        is a leading developer, manufacturer and marketer of prescription
        drugs and over-the-counter medicines.  It is also a leader in
        vaccines, generic pharmaceuticals, biotechnology, agricultural
        products, animal health care, medical devices and food products.

                 TWELVE MONTHS ENDED DECEMBER 31, 1995 AND 1994
                (unaudited - in thousands except per share data)
                                  Three Months Ended    Twelve Months Ended
                                       December 31,         December 31,
                                    1995       1994     1995        1994
        Product Sales             $21,870     $9,030   $83,220     $43,482
        Royalties                  17,301     10,710    55,993      42,603
        Collaborative R&D           2,709      8,213    32,842      44,795
        Total Revenue              41,880     27,953   172,055     130,880
        Cost of Sales               7,296      6,303    38,436      28,369
        Research & Development     31,956     28,866   122,404     108,161
        General & Administrative    5,503      5,009    20,289      18,719
        Special Acquisition Charge 24,857       ---     24,857        ---
        Total Operating Expenses   69,612     40,178   205,986     155,249
        LOSS FROM OPERATIONS      (27,732)   (12,225)  (33,931)    (24,369)
        Other Income, Net           1,558        301    11,443       5,494
        NET LOSS                 $(26,174)  $(11,924) $(22,488)   $(18,875)
        WEIGHTED AVG SHARES        26,825     26,554    26,724      26,440
        NET LOSS PER SHARE          $(.98)     $(.45)   $(.84)      $(.71)
                        AS OF DECEMBER 31, 1995 AND 1994
                           (unaudited - in thousands)
                                                        December 31,
                                                    1995             1994
        Cash and Marketable Securities          $250,839           $269,763
        Other Current Assets                      67,729             40,075
        Total Current Assets                     318,568            309,838
        Property, Plant and Equipment, Net       109,116            105,315
        Other Assets                               6,132              6,440
        Total                                   $433,816           $421,593
        Total Current Liabilities                $43,696            $32,589
        Shareholders' Equity                     390,120            389,004
        Total                                   $433,816           $421,593

        /CONTACT: Dennis Harp or Gina Brazier, Corporate Communications of
        Genetics Institute, 617-876-1170/


            LOS ANGELES, Jan. 24, 1996-- Occidental Petroleum
        Corporation (NYSE: OXY) today reported net income of $7 million (a
        loss of $.05 per share) for the fourth quarter of 1995, compared
        with break- even earnings (a loss of $.06 per share) for the fourth
        quarter of 1994. The fourth quarter 1995 results included a $132
        million pretax charge relating to the previously announced
        reorganizations of the oil and gas and natural gas transmission
        divisions.  Sales were $2.4 billion for the fourth quarter of 1995,
        compared with $2.5 billion for the same period of 1994.

            The reorganization of the oil and gas division, for which a
        charge of $95 million was recorded, is expected to result in
        annualized savings of $100 million.  Approximately 15 percent of
        this charge is to provide for estimated losses on disposition of
        assets as part of the reorganization.  MidCon's reorganization, for
        which a $37 million charge was recorded, is expected to recognize
        annualized savings of $50 million.

            In announcing the results, Dr. Ray R. Irani, chairman, president
        and chief executive officer, stated, "Occidental's earnings before
        special items for the full year 1995 were $623 million.  This is
        Occidental's best performance since the restructuring was announced
        in January 1991 and is the first year since 1981 that we have earned
        the dividend from earnings before special items.  In addition, the
        chemical division's 1995 reported earnings were higher than in any
        previous year."

            Oil and gas divisional earnings before special items were $64
        million for the fourth quarter of 1995, compared with $4 million for
        the fourth quarter of 1994.  Divisional results after special items
        were a loss of $31 million for the fourth quarter of 1995, compared
        with a loss of $42 million for 1994.  The 1995 results included the
        $95 million charge related to reorganization costs.  The 1994
        results included charges to provide reserves for litigation matters
        and impairment of properties and other charges, partially offset by
        the reversal of reserves related to sold businesses.  The increase
        in 1995 operating earnings resulted primarily from higher worldwide
        crude oil production and lower exploration expense.

            Natural gas transmission divisional earnings before special
        items were $59 million for the fourth quarter of 1995, compared with
        $89 million in 1994.  Divisional earnings after special items were
        $22 million for the fourth quarter of 1995, compared with $93
        million for 1994.  The 1995 earnings included the $37 million charge
        related to reorganization costs.  The 1994 earnings included a
        benefit from a LIFO inventory reduction.  The decrease in 1995
        operating earnings resulted from lower margins including those on
        restructured contracts, partially offset by higher throughput

            Chemical divisional earnings were $167 million for the fourth
        quarter of 1995, compared with earnings before special items of $212
        million in 1994.  Fourth quarter 1994 divisional earnings, after
        charges for litigation matters and curtailment of certain plant
        operations, were $127 million.  The decline in 1995 operating
        earnings resulted primarily from decreased profit margins in
        petrochemicals and PVC resins and the absence of income applicable
        to assets divested in 1995.  Partially offsetting these declines was
        the favorable impact of improved profit margins for caustic soda.

            Unallocated interest expense was $13 million lower in the fourth
        quarter of 1995, compared with 1994.  The 1995 interest expense
        reflected the benefit of a net reduction in outstanding debt,
        partially offset by increased expense due to regulatory settlements.
        Unallocated corporate other items were an expense of $7 million in
        the fourth quarter of 1995, compared with income of $6 million in
        1994.  The decline in 1995 primarily reflected lower equity earnings
        from unconsolidated chemical investments.

            For the total year 1995, Occidental's net income totaled $511
        million ($1.31 per share), compared with a net loss of $36 million
        ($.36 per share) in 1994.  Sales increased to $10.4 billion for 1995
        from $9.2 billion in 1994.

           (Millions, except per-share amounts)
                                         Fourth Quarter     Twelve Months
           Periods Ended December 31          1995     1994     1995
          Oil and gas                  $   778  $   665  $ 3,018  $ 2,451
          Natural gas transmission         578      536    2,038    2,110
          Chemical                       1,117    1,364    5,370    4,677
          Other                              -       (1)      (3)      (2)
                                       $ 2,473  $ 2,564  $10,423  $ 9,236
          Oil and gas                  $   (31) $   (42) $    45  $    27
          Natural gas transmission          22       93      213      276
          Chemical                         167      127    1,080      350
                                           158      178    1,338      653
           Unallocated corporate items
          Interest expense, net           (130)    (143)    (540)    (564)
          Income taxes (a)                 (14)     (41)    (295)    (110)
          Other                             (7)       6        8      (15)
           NET INCOME (LOSS)                     7        -      511
           Preferred dividends                 (23)     (20)     (93)
           Earnings (loss) applicable to
          common stock                 $   (16) $   (20) $   418  $  (112)
          Primary                      $  (.05) $  (.06) $  1.31  $  (.36)
          Fully diluted                $  (.05) $  (.06) $  1.30  $  (.36)
           Average common
        shares outstanding               318.8    312.8    318.2    310.8
            (a) Includes an offset for charges and credits in lieu of U.S.
        federal income taxes allocated to the divisions.  Divisional
        earnings in the fourth quarter of 1995 have benefited from credits
        allocated by $4 million, $12 million and $7 million at oil and gas,
        natural gas transmission and chemical, respectively.  Divisional
        earnings in the fourth quarter of 1994 have benefited from credits
        allocated by $5 million, $12 million and $8 million at oil and gas,
        natural gas transmission and chemical, respectively.
                                           Fourth Quarter   Twelve Months
           Periods Ended December 31            1995    1994    1995    1994
           United States
          Crude oil and condensate
            (thousands of barrels)            62      59      64      59
          Natural gas liquids
            (thousands of barrels)            10      13      11       8
          Natural gas
            (millions of cubic feet)         584     612     612     620
           Other Western Hemisphere
          Crude oil and condensate
            (thousands of barrels)           127     116     129     119
           Eastern Hemisphere and other
          Crude oil and condensate
            (thousands of barrels)           100      77      85      59
          Natural gas
            (millions of cubic feet)         125      50     127      52
           Sales (billions of cubic feet)        203     146     648     549
         (billions of cubic feet)            421     381   1,533   1,533
           CAPITAL EXPENDITURES (millions)    $  372  $  476  $  978  $1,186
         AMORTIZATION OF ASSETS (millions)$  213  $  222  $  921  $  882

        CONTACT:  Media contact: Howard Collins, 310-443-6523, or Investor
        contact: Kenneth J. Huffman, 212-603-8183, both of Occidental


            HERSHEY, Pa., Jan. 24, 1996-- Nuclear
Support Services,
(Nasdaq: NSSI) announced today the signing of a Letter of
        Intent to sell the commercial nuclear support business of its NSS
        Numanco subsidiary for cash.  The proposed sale is subject to
        approval of the Bankruptcy Court in its Chapter 11 proceeding and is
        part of a reorganization plan which the Company expects to file by
        the end of January.

            Ralph A. Trallo, NSSI President and Chief Executive Officer,
        stated, "This development is a significant step in the Company's
        efforts toward a timely exit from bankruptcy.  It also allows us to
        focus on value added services as well as achieving a balanced market

            NSSI is a leading supplier of service support and maintenance to
        power generation, pulp and paper, petro-chemical and other general

        CONTACT:  Ralph A. Trallo, President of Nuclear Support Services,

Rational announces strong third-quarter revenues

            SANTA CLARA, Calif.--Jan. 24, 1996--Rational
        Software Corporation (NASDAQ: RATL) today announced revenue and
        results of operations for the third quarter ended December 31, 1995.

            Revenue for the period was $24,004,000, a 29 percent increase
        compared to $18,605,000 for the third quarter last year.  Product
        license revenue for the period was $14,904,000, an increase of 49
        percent compared to $9,983,000 last year.  For the quarter, the
        company's gross profit increased 39 percent to $17,192,000 from
        $12,358,000 last year, while the overall gross profit margin
        increased to 72 percent from 66 percent reported last year.  

            The company reported a net loss of $11,161,000, or $0.69 per
        share, for the third quarter compared to a net profit of $1,564,000,
        or $0.12 per share, reported for the same period last year.  As a
        result, for the first nine months the company reported a net loss of
        $0.52 per share compared to net income of $0.26 per share last year.
        As previously announced, the company's earnings for the third
        quarter were reduced by charges and operating expenses associated
        with the acquisition of Objectory AB and the subsequent
        restructuring and shaping of the company's business.  As a result of
        these actions, the company incurred approximately $14,500,000 of
        third-quarter non-recurring operating and merger-related expenses,
        which includes an $8,700,000 write-off of in-process research and
        development costs associated with the acquisition.  

            Cash and cash equivalents increased to $42,900,000 from the
        $37,200,000 reported at the end of the second quarter.  

            Paul D. Levy, president and chief executive officer of Rational
        Software Corporation, said, "We are pleased with the strong growth
        in third-quarter product revenue.  Based on the strength of third-
        quarter business, Rational's object technology revenue for the first
        nine months of the current fiscal year has more than doubled
        compared to the same period in the prior year.  The net loss for the
        period is in line with what the company had previously announced,
        and we feel that we have completed during the quarter the combining
        of Objectory AB with Rational in an efficient manner."  

            Mr. Levy went on to say, "We are pleased to report that several
        important new products are now shipping.  New releases of the
        company's Rational Apex and Spire products began shipping in the
        third quarter, supporting C/C++.  Rational Rose 3.0 for Windows,
        with the potential to further broaden the company's object
        technology business, began shipping in December, and Rational
        Rose/PowerBuilder began shipping earlier this month.  In addition,
        an early release of Rational Rose/Visual Basic is being tested by
        select customers, and we have completed work on the prototype of
        Rational Rose/Java for Internet software development."  

            Rational Software Corporation develops, markets, and supports a
        comprehensive solution for developing complex software applications.
        The company provides a solution that can be tailored to support a
        customer's specific software-development needs.  This solution is
        supported by an integrated family of tools that provide support for
        the critical phases of the software-development process, from
        business engineering and systems engineering, through initial
        analysis and design, to implementation, delivery, and maintenance.
        In addition, Rational provides a full range of technical consulting,
        training, and support services as an integral component of its

        Rational Software Corporation
        Consolidated Results of Operations
        (in thousands of dollars, except per share data, unaudited)
                              Three months ended December 31,
                              1995      %         1994      %
         Product               $14,904   62.1      $ 9,983   53.7
         Consulting and support  9,100   37.9        8,622   46.3
          Total revenues        24,004  100.0       18,605  100.0
        Cost of sales:                               
         Product                 1,953    8.1        1,741    9.4
         Consulting and
          support                4,859   20.2        4,506   24.2
          Total cost of
           sales                 6,812   28.4        6,247   33.6
        Gross margin                                 
         Product                12,951   86.9        8,242   82.6
         Consulting and
          support                4,241   46.6        4,116   47.7
          Total gross
           margin               17,192   71.6       12,358   66.4
        Operating expenses:                               
         Product development     5,374   22.4        2,876   15.5
         Sales and
          marketing             10,906   45.4        6,558   35.2
         General and
          administrative         3,441   14.3        1,828    9.8
         Merger and
          restructuring costs
          (benefits)                 -      -         (510)  -2.7
         Write-off of in-process     
          research and
           development           8,700   36.2            -      -
          expenses              28,421  118.4       10,752   57.8
        Operating (loss)
         income                (11,229) -46.8        1,606    8.6
        Other income, net          288    1.2           99    0.5
        Provision for income
         taxes                     220    0.9          141    0.8
        Net (loss)
         income               $(11,161) -46.5       $1,564    8.4
        Earnings per share      $(0.69)              $0.12          
        Shares used in computing
         per share amounts      16,233              12,668         
        Rational Software Corporation
        Consolidated Results of Operations
        (in thousands of dollars, except per share data, unaudited)
                            Nine months ended December 31,
                            1995      %            1994    %
         Product             $40,174   61.4         $28,327  53.1
         Consulting and
          support             25,229   38.6          24,989  46.9
          Total revenues      65,403  100.0          53,316 100.0
        Cost of sales:                               
         Product               5,081    7.8           4,480   8.4
         Consulting and
          support             13,788   21.1          13,440  25.2
          Total cost of
           sales              18,869   28.9          17,920  33.6
        Gross margin                                 
         Product              35,093   87.4          23,847  84.2
         Consulting and
          support             11,441   45.3          11,549  46.2
          Total gross
           margin             46,534   71.1          35,396  66.4
        Operating expenses:                               
          development         11,830   18.1           9,153  17.2
         Sales and marketing  26,988   41.3          24,058  45.1
         General and
          administrative       7,223   11.0               -     -
         Merger and restructuring
          costs (benefits)         -      -          (1,100) -2.1
         Write-off of in-process
          research and
           development         8,700   13.3               -     -
         Operating expenses   54,741   83.7          32,111  60.2
        Operating (loss)
         income               (8,207) -12.5           3,285   6.2
        Other income, net        916    1.4             193   0.4
        Provision for income
         taxes                   512    0.8             278   0.5
        Net (loss) income    $(7,803) -11.9          $3,200   6.0
        Earnings per share    $(0.52)                 $0.26          
        Shares used in computing
         per share amounts    14,984                 12,494         
        Rational Software Corporation
        Condensed Consolidated Balance Sheets
        (in thousands of dollars)
                              December 31, 1995       March 31, 1995
         Current assets:               
          Cash and cash equivalents         $42,930             $ 10,476
          Receivables                        18,048               18,741
          Prepaids and other assets           2,124                  766
           Total current assets              63,102               29,983
        Property and equipment, net           5,368                6,117
        Goodwill and other purchased
         intangibles                          2,330                    -
        Deposits and other assets             1,116                1,900
           Total assets                     $71,916              $38,000
        Liabilities and stockholders' equity              
         Current liabilities:               
          Accounts payable                  $ 3,451              $ 2,331
          Accrued employee benefits           7,374                5,619
          Other accrued liabilities           4,197                3,938
          Acquisition-related accruals        1,614                    -
          Current portion long-term
           debt                               1,367                2,572
          Deferred revenue                    6,520                7,781
           Total current liabilities        $24,523              $22,241
        Long-term debt and lease
         obligations                              -                1,911
        Long-term accrued merger and
         restructuring expense                2,459                1,764
        Stockholders' equity:              
         Common stock                       110,924               70,058
         Accumulated deficit                (65,990)             (57,974)
           Total stockholders' equity        44,934               12,084
        Total liabilities and
         stockholders' equity               $71,916              $38,000

        CONTACT:  Investor contacts:
                  Paul D. Levy or Timothy A. Brennan, 408/496-3600


            BURNABY, British Columbia, Jan. 24, 1996-- The Mississippi
        Supreme Court ordered today that the interim stay previously granted
        to The Loewen Group would be lifted effective January 31, 1996.  As
        a result, the company will be required to post a bond in the amount
        of $625 million by January 31.

            The company and its advisors have been and will continue to
        explore options to raise financing to support the bond.  If
        financing is not available for the $625 million bond, or if the
        company otherwise determines that it will not post the bond, then
        following the expiration of the stay the plaintiffs would be
        entitled to attach assets of the company.  Attachment of assets
        could cause certain company indebtedness to accelerate.  If the
        company determines that the assets and operations of the company
        are, absent a stay, at risk, the company may determine that it would
        be in the best interests of its continued operations, shareholders
        and creditors generally to place the company under bankruptcy

            The Loewen Group Inc. is the second largest funeral service
        corporation in North America, with 814 funeral homes and 179
        cemeteries across the United States and Canada.  Approximately 90%
        of the company's total revenue is derived from locations in the
        United States.

        For further information:  Paul Wagler, Senior Vice-President,
        Finance or Dwight Hawes, Vice President, Finance (604) 299-9321/