TCR_Public/960314.MBX BANKRUPTCY CREDITORS' SERVICE, INC.


Bankruptcy News For - March 14, 1996



  1. HARRY'S FARMERS MARKET ANNOUNCES IMPROVED FOURTH QUARTER RESULTS
  2. BROTHERS GOURMET COFFEES REPORTS 25% INCREASE IN EARNINGS
  3. HAUSER REPORTS THIRD QUARTER RESULTS
  4. EAGLE-PICHER INDUSTRIES ANNOUNCES FIRST QUARTER RESULTS
  5. Helionetics to propose a plan to take Tri-Lite Inc., a subsidiary, out of Chapter 11 bankruptcy
  6. SEARCH CAPITAL GROUP ADDS TWO TO BOARD OF DIRECTORS
  7. Jay Jacobs Inc. reports profitable fourth quarter
  8. Porta Systems Corp. announcements
  9. RICKEL ]PLANS TO CLOSE 13 LOCATIONS UNDER LEASEHOLD DISPOSITION PROGRAM
  10. CLI Reports Fourth Quarter and 1995 Results
  11. TODAY'S MAN TO CLOSE THREE UNDERPERFORMING LOCATIONS



HARRY'S FARMERS MARKET ANNOUNCES IMPROVED FOURTH QUARTER RESULTS
        


            ROSWELL, Ga., March 14, 1996 - Harry's Farmers Market,
        Inc., (Nasdaq: HARY) reported that the Company's estimated net loss
        for the fourth quarter of fiscal 1996 (ending January 31, 1996) will
        be in the range of 10 to 12 cents per common share, compared to a
        loss of 26 cents per common share for the same period last year.
        This is considerably better than the results projected by analysts
        for this period. Management said that the majority of this
        improvement was due to strong gross profit growth which as a
        percentage of net sales increased to 26.6% for the quarter from
        24.4% for the comparable quarter in fiscal 1995 (gross profit for
        third quarter '96 was 23.6%).  This increase in gross profit for the
        quarter was primarily the result of improvements in operational
        efficiencies, in particular in manufacturing, distribution and
        procurement.
        


            Harry A. Blazer, Chairman, CEO and President of the Company,
        said, "We are making substantial progress toward our goal of
        returning the Company to profitability.  We believe that the
        improvements in gross margin that we are seeing for the fourth
        quarter are sustainable.  In addition, we believe that continued
        improvements in operations at all levels will provide us with
        opportunities for further expense reduction. A primary focus now is
        in improving sales to match the improvements we have made elsewhere.
        Recently, we have been experiencing a positive trend in comparable
        store sales."
        


            Sales for the fourth quarter were $33.4 million, compared to
        sales of $36.0 million for the same period last year. (The fourth
        quarter contained four days of sales from the Clayton store which
        closed on November 5, 1995).  On a comparable store basis, sales
        declined by 8.1% for the fourth quarter.  Part of this decline was
        weather related. Commenting further on sales, Mr. Blazer said, "It
        appears that we have bottomed out in terms of the negative sales
        trend.  We began to see an improvement in the last weeks of January.
        During the first week of February, we were forced to close the store
        on Saturday due to snow. Since the second week of February, we have
        realized a comparative store sales decline of only 0.5% on average,
        with some stores showing positive comparisons.  We believe that
        recent merchandising initiatives combined with better operational
        performance at store-level, higher employee morale and a more
        cohesive management team are responsible for these recent
        improvements in sales trends."

        
            The Company also reported the sale on March 13, 1996 of an
        outparcel at its Gwinnett megastore location to HiFi Buys for above
        book value. The net proceeds of $562,000 have been used to reduce
        the Company's borrowings.  Recent road improvements and commercial
        development in the area have stimulated interest in the two
        remaining outparcels at the Gwinnett location and an additional
        contract on one of those is anticipated shortly.  The Company also
        reported that the proposed Nashville sale was on track and that the
        Company expected to close this transaction by June 1, 1996.  If the
        sale occurs in accordance with the terms of the contract, the
        Company should receive about $4.3 million net from the sale, which
        will be used to further reduce the Company's borrowings.  The sale
        should provide net proceeds to the Company equal to the book value
        of the tract.
   

     
            The Company reported that it remained out of compliance with a
        financial covenant with respect to the mortgage loan from Citicorp
        Bank on its bakery facility and distribution center.  As announced
        in the third quarter, the Company obtained a waiver from its lenders
        under the senior credit facility with NationsBank as agent bank of
        the financial covenants and received a conditional agreement of such
        lenders to forbear declaring a cross-default as a result of the
        breach of the financial convenant under the mortgage loan.  The
        Company has been unable to obtain a waiver for the violation under
        the mortgage loan. However, it continues to negotiate with the
        mortgage lender for a waiver and believes that an agreement with
        such lender will be reached.

        
            The Company's estimated net loss for the 1996 fiscal year ending
        January 31, 1996 is $1.63 to $1.65 per common share, compared to a
        loss of $1.09 per common share for fiscal 1995.  The loss for fiscal
        1996 included a write-down of $4,430,000 or 72 cents per common
        share in the third quarter due to the closing of the Clayton County
        store.
   

     
            Sales for fiscal year 1996 were $145.9 million, compared to
        sales $143.8 million for fiscal year 1995, an increase of 1.5%
        during the year.  The increase in the fiscal 1996 year revenue is
        attributable to the revenue generated by the Clayton store from the
        time it opened in May 1995 until its closing on November 5, 1996.
      

  
            The Company also reported that its emphasis on food safety had
        been recognized.  Among other things, the January 1996 reviews by
        the Department of Commerce resulted in each of the three megastores
        receiving Final Facility Ratings of Level 1 Compliance in seafood.
        This is the highest rating achievable.  The Company received a
        perfect rating from the Georgia Department of Agriculture in
        February as part of a routine inspection at the Apharetta store and
        Harry's In a Hurry store on Peachtree.  The most recent quarterly
        inspection record for the Company's USDA inspected prepared food
        plant was its highest yet, with a 99.64% compliance.
        


            Harry's Farmers Market, Inc., owns and operates in metro Atlanta
        three megastores and two Harry's In A Hurry Convenience stores
        specializing in fresh food products, as well as specialty and
        gourmet food products that complement the fresh food offering.


        CONTACT:  George Goodwin of Harry's Farmers, Inc., 404-875-1444,
        ext. 238



BROTHERS GOURMET COFFEES REPORTS 25% INCREASE IN EARNINGS
FROM CONTINUING OPERATIONS

        
            BOCA RATON, Fla., March 14, 1996 - Brothers Gourmet
        Coffees, Inc. (Nasdaq: Bean), the largest wholesale branded U. S.
        roaster of gourmet coffees, today reported fourth quarter earnings
        of $1.6 million or $.15 per share from continuing operations as
        compared with $1.3 million or $.12 per share for the comparable
        quarter last year, an increase of 25%.  Donald D. Breen, President
        and CEO, said, "Our return to profitability in the core wholesale
        business is tangible evidence that our strategy to cut costs and
        improve margins is beginning to pay off."
        


            The increased wholesale earnings were primarily attributable to
        improved gross margins due to lower green coffee costs and lower
        SG&A expenses resulting from the Company's restructuring during the
        third quarter.  Gross margins expanded to 50% during fourth quarter
        1995, up dramatically from 35% in the same quarter a year ago and is
        primarily attributable to lower green coffee costs, reduced
        manufacturing overhead and a reduction in the Company's lifo
        reserve.  Operating expenses were also down significantly.  Selling,
        General and Administrative expenses were reduced by over $2 million
        during the fourth quarter dropping to $9.7 million compared to $12.0
        million last year.

        
            As a result of revisions to previous estimates, the Company
        increased its loss from discontinued operations by $3.2 million.
        The increase in the reserve resulted in a $.14 loss per share for
        the quarter and is attributable to higher costs associated with the
        phase out period and the longer than anticipated disposition of the
        Brothers' 28 street front coffee bars.  Commenting on the retail
        disposition Breen said, "We have closed on the sale of the Denver
        and Houston bars with Diedrich's Coffee, and we are in discussions
        with several parties on the sale of our Chicago, Washington D.C. and
        New York stores.  I'm optimistic we can wrap up the sales process
        quickly and concentrate on our core wholesale business."
   

     
            The loss for the year ended December 29, 1995, including the
        loss from discontinued operations of $43.8 million or $3.91 per
        share, was $53.5 million or $4.78 per share.  The loss for Fiscal
        1995 compared to net income of approximately $2.4 million or  $.20
        per share in Fiscal 1994.  Net Sales in Fiscal 1995 were
        approximately $95.0 compared to Net Sales for Fiscal 1994 of
        approximately $114.1 million.
      

  
            With the completion of the sale of Gloria Jeans and the Denver
        and Houston coffee bars, the outstanding borrowing of the Company
        has dropped dramatically from a high of approximately $50 million to
        approximately $15 million.  The Company has entertained several
        refinancing proposals and is working on securing a commitment to
        refinance its revolving credit facility which terminates March 31,
        1996.
        


            Breen went on to say, "1995 has been a year of challenges. I am
        optimistic that the strategic and sweeping changes the Company made,
        principally in the areas of the divestiture of its retail operations
        and the consolidation of its roasting facilities, will reap many
        future benefits and produce improved profitability."
        


            Brothers Gourmet Coffees Inc., headquartered in Boca Raton,
        Florida is the nation's largest branded roaster of gourmet coffee in
        the wholesale distribution channel (grocery, military commissaries,
        warehouse stores, mass merchandisers and specialty stores).
        



                      BROTHERS GOURMET COFFEES, INC.
                   CONSOLIDATED STATEMENT OF OPERATIONS
                 (in thousands, except per share amounts)
        
                              Three-Months Ended       Twelve-Months Ended
                              Dec. 29      Dec.30     Dec. 29        Dec. 30
                                 1995        1994        1995           1994
        
        Net Sales           $  26,052   $  40,595    $  95,005     $ 114,165
            Cost of goods sold       13,096              26,299
        52,951      
        
          63,817
        Gross profit           12,956       14,296       42,064       50,348
        
        Operating Expenses
          Selling,general and
            administrative      9,669     11,996       44,858        42,309
          Restructuring           --         --           945           --
          Amortization of
            intangibles           795        941          3,373 3,785
        Total operating
          expenses             10,464     12,937       49,176        46,094
        Operating Income (loss)
          from continuing
          operations            2,492      1,359      (7,122)         4,254
        
        Interest expense, net     831        630        2,523          1,625
        Other expense              43       (560)          47          (538)
        
        Income (loss) from
          continuing
          operations            1,618      1,289       (9,692)        3,167
        
        Discontinued Operations:
        Income (loss) from
          discontinued
          retail operations       --       1,161       (5,368)        (810)
        Estimated loss on
          disposal of
          discontinued retail
          operations, including
          provision of $6,108
          for estimated
          operating losses
          during phase-out
          period              (3,200)        --       (38,426)          --
        
        Net Income (loss)  $  (1,582)  $  2,450    $  (53,486)   $    2,357
        
        Earnings (loss) per
          common share:
        Earnings (loss) per
          common share from
          continuing
          operations        $   0.15       0.12    $   ($0.87)   $     0.27
        Earnings (loss) per
          common share
          from discontinued
          operations           (0.29)      0.10        ($3.91)        (0.07)
        
        Earnings (loss) per
          common share      $  (0.14)  $   0.22    $    (4.78)   $     0.20
        
        Weighted average
          common shares
          outstanding          11,202    11,784        11,184         11,848


        CONTACT:  Barry Bilmes, Brothers Gourmet Coffees, 407-995-2600; or
        Stephen Salzman, Investor Relations, 407-393-3686


HAUSER REPORTS THIRD QUARTER RESULTS

        
            BOULDER, Colo., March 14, 1996 - Hauser (Nasdaq: HAUS)
        announced today its third quarter results for fiscal year 1996 ended
        January 31, 1996.  The Company reported revenues of $6,504,492 and a
        net loss of $1,706,411, or $(.16) per share compared to revenues of
        $5,608,836 and net loss of $1,956,264 or $(.19) per share for the
        third quarter of fiscal 1995.  For the nine months ended January 31,
        1996, Hauser's total revenues were $17,557,669 with a net loss of
        $5,059,809 or $(.49) per share compared to $17,511,369 with a net
        loss of $983,785 or $(.09) per share for the same period in fiscal
        1995.
        


            William Paukert, Hauser's Chief Financial Officer explained,
        "Progress was made in several of our market areas during the
        quarter. Revenues from Nutraceutical products increased 37% over the
        previous quarter.  We are pleased with the Technical Service group's
        revenue growth of 174% over the same period last year which was
        largely due to the acquisition of Shuster.  Also our paclitaxel
        program with American Home Products continued to progress and is
        meeting our expectations. However, our third quarter results are
        disappointing."
        


            Mr. Paukert added, "Ironwood Evergreens, our subsidiary engaged
        in the manufacture and sales of secondary forest products, did not
        generate anticipated sales and profits.  The Christmas season is
        normally their strongest selling period.  Ironwood experienced an
        operating loss of $796,934 in the quarter, significantly impacting
        overall corporate results.  In light of this situation, management
        has implemented numerous cost control measures designed to return
        the Secondary Forest Products area to profitability, including some
        restructuring of its collection network.  We continue to be in a
        good financial position with substantial cash reserves and a strong
        balance sheet."

        
            According to Dean Stull, Hauser's Chief Executive Officer, "Our
        efforts to develop and market new natural ingredients is beginning
        to bear fruit.  Not only are our Nutraceutical products in the
        market, our new patent pending NaturEnhance(TM) line was introduced
        at the International Color Conference in January.  It includes
        ColorEnhance(TM), a line of natural colorants, and
        StabilEnhance(TM), a product line for preservation of a variety of
        food and non-food products containing fats and oils.  Product launch
        is expected in the next few months."
   

     
            Hauser is a multi-product, multi-customer Company focused on the
        development, manufacturing, and marketing of special products from
        natural sources.  The Company's market areas are Health Care
        Products, Food Ingredients, Technical Services and Secondary Forest
        Products.


        CONTACT:  Dean P. Stull, Chief Executive Officer, or William E.
        Paukert, Chief Financial Officer, 303-443-4662, or email,
        relationshauser.com, both of Hauser



EAGLE-PICHER INDUSTRIES ANNOUNCES FIRST
QUARTER RESULTS
        


            CINCINNATI, March 14, 1996 - href="chap11.epi.html">Eagle-Picher Industries
        (OTC: EPIHQ.U) today announced that for the first quarter ended
        February 29, 1996, sales were $208.6 million compared with $197.6
        million for the first quarter of 1995.  Operating income was $13.4
        million compared with $15.1 million for the same period last year.
        Net income was $11.5 million or $1.04 per share for the first
        quarter of 1996 compared with $13.0 million or $1.18 per share in
        the first quarter of 1995.  At the end of the first quarter of 1996,
        the Company's cash position was $101.4 million.  This compares with
        a cash position of $93.3 million at the end of fiscal year 1995 and
        $80.6 million at the end of the first quarter of 1995.

        
            Thomas E. Petry, Eagle-Picher Chairman, said that, "sales and
        operating income for the Automotive Group for the first quarter of
        1996 were below the levels for the first quarter of 1995.
        Reductions in production schedules, decreased availability of raw
        materials due to weather particularly in December and January, and
        continued delays in start-ups of new programs were the primary
        reasons for the sharp decline in operating income for the Automotive
        Group during the quarter.  Eagle- Picher Industries GmbH, with
        headquarters in Ohringen, Germany, and part of the Automotive Group,
        however, enjoyed higher sales and income levels compared with the
        first quarter of 1995.  Operations in the Automotive Group
        manufacture a wide range of products including molded rubber and
        bonded metal-to-rubber parts, rubber coated materials, precision
        engineered and machined parts, reenforced molded plastic parts, and
        interior trim components.

        
            "Results for the Industrial Group were mixed, although overall,
        sales and operating income were higher than the first quarter of
        1995. The Specialty Materials Division enjoyed excellent results for
        the quarter.  The Division manufactures germanium substrates used
        for space satellite solar arrays; isotopically pure boron materials
        used for a wide range of nuclear applications; unlabeled and labeled
        stable and radioactive compounds for the pharmaceutical and
        institutional research markets; and super clean containers used for
        environmental testing.  The Minerals Division, a producer of
        diatomaceous earth and perlite filter aids which are primarily used
        by the food and beverage industry, experienced increased sales and
        operating income compared with 1995 results.  Export sales of
        diatomaceous earth products have become an increasingly growing
        market.

        
            "Results for virtually every operation in the Machinery Group
        were ahead of those for the same period of a year earlier.  The
        Construction Equipment Division, which manufactures earth moving
        equipment and materials handling equipment, enjoyed improved
        results, although future production schedules suggest a decline in
        shipments as the year progresses.  The Electronics Division, a major
        force in the manufacture of special purpose batteries for aerospace
        and defense applications, continued its efforts to offset reductions
        in the defense business by increasing its market share in the
        commercial aerospace market."
   

     
            The Company filed a plan of reorganization (The Plan) on
        February 28, 1995 with the Bankruptcy Court in Cincinnati, Ohio.
        The Plan was proposed jointly with the Injury Claimants' Committee
        (ICC) and the Legal Representative for Future Claimants (RFC).  The
        Unsecured Creditors' Committee (UCC), which represents bond holders
        and trade creditors, and the Equity Security Holders' Committee, did
        not support the Plan as proposed.  Both committees disputed the
        amount of the Company's liability for present and future asbestos-
        related personal injury claims utilized in the Plan for allocating
        the distributions to the various creditor and shareholder
        constituencies under the Plan. Such amount was the $1.5 billion
        agreed to for settlement purposes among the Company, the ICC, and
        the RFC in the fourth quarter of 1993.

        
            During 1995 and early 1996, there were several developments
        concerning the reorganization effort under chapter 11 that should be
        noted:
   

     
            In order to resolve the controversy as to the Company's
        liability for present and future asbestos-related personal injury
        claims, the Company filed a motion with the Bankruptcy Court in the
        third quarter of 1995 asking the Court to estimate such liability.
      

  
            In December 1995, the Bankruptcy Court rendered its decision
        (the Estimation Ruling) and ruled that the Company's estimated
        liability for such claims is $2,502,511,000.  The UCC, the Equity
        Security Holders' Committee, and two members of the UCC,
        independently, appealed the Estimation Ruling.

        
            As a result of the Estimation Ruling which established the lack
        of existing shareholder equity value, in December 1995, the Company
        filed a motion with the Bankruptcy Court to disband the Equity
        Security Holders' Committee.  The Bankruptcy Court partially granted
        the motion in January 1996 by limiting ongoing activities of the
        Equity Security Holders' Committee to the prosecution of its appeal
        of the Estimation Ruling.
   

     
            As a result of the Bankruptcy Court's Estimation Ruling, the
        aggregate amount of allowed pre-petition unsecured claims to be
        addressed in a plan of reorganization currently is approximately
        $2.663 billion.  Claims by present and future asbestos personal
        injury claimants represent 94 percent of such pre-petition
        liabilities and other unsecured claims in the aggregate amount of
        approximately $157 million represent the balance.

        
            In view of the Estimation Ruling, it is intended that the
        Company will file an Amended Plan of Reorganization.  The Amended
        Plan will be filed as soon as possible.
   

     
             These above developments are described in detail in the
        Company's 1995 Annual Report.
      

  
            Petry also indicated that, "forecasts from certain Divisions,
        particularly those serving capital equipment markets, suggest that
        those areas of the economy reached the top of the cycle in 1995 as
        backlogs for those divisions are declining.  The outlook for the
        Automotive Group is uncertain.  Obtaining appropriate price
        increases and equitable prices for new business from our customers
        continues to be extremely difficult.  This places pressure on profit
        margins and any decline in automotive production could adversely
        affect the results of operations serving this market, particularly
        domestic operations.  Prospects for operations serving general
        industrial markets are promising and should partially offset the
        effect of any potential decline in the Automotive Group in 1996.
        The Company's financial condition is strong and healthy. If an
        economic slowdown occurs in 1996, Eagle-Picher is well positioned to
        cope, to adjust, and to have available the resources necessary to
        take advantage of new business opportunities."


        
        The figures follow:
        (Data in thousands except per share)
        
        Three Months Ended February 29 (28)     1996           1995
        
        Net sales                             $208,582       $197,603
        Operating income                        13,371         15,113
        Other non-operating items                 (160)          (102)
        Reorganization items                        68           (425)
        Income before taxes                     13,279         14,586
        Net income                              11,508         13,032
        Net income per share                      1.04           1.18
            Average shares                      11,041         11,041


        CONTACT:  J. Rodman Nall of Eagle-Picher, 513-721-7010


Helionetics implements 1-10 reverse stock
split; company says it will propose a plan to take Tri-Lite Inc., a subsidiary,
out of Chapter 11 bankruptcy

        
            VAN NUYS, Calif. -- March 14, 1996 -- The board of
        directors of Helionetics Inc. (OTC Bulletin Board:ZAPP) Thursday
        implemented, effective immediately, a 1-for-10 reverse stock split
        authorized by shareholders at the company's annual meeting Dec. 29,
        1995, reducing the number of shares issued and outstanding from 50
        million to 5 million, and increasing authorized shares from 5
        million to 10 million.
        


            Bernard B. Katz, Helionetics chairman, said he believes
        availability of the additional shares will make it possible for
        Helionetics to propose a plan, acceptable to both the bankruptcy
        court and secured and unsecured creditors, to take href="chap11.trilite.html">Tri-Lite Inc.
        (ASE:NRG), a Helionetics subsidiary based in Santa Ana, Calif., out
        of Chapter 11 bankruptcy and preserve Tri-Lite shareholders.
        


            He said a cash collateral hearing is being held today in U.S.
        Bankruptcy Court, Santa Ana, which Helionetics will advise Star Bank
        of Cincinnati, a Tri-Lite secured creditor, that it will propose a
        plan to the court and creditors within the near future.

        
            Katz said that under the plan being constructed by Helionetics,
        Tri-Lite would emerge from bankruptcy a profitable company with
        revenues of about $15 million and liquid net assets sufficient to
        sustain its growth and profitability.
   

     
            He also said that as part of the plan Helionetics is considering
        merging into Tri-Lite its AIM Energy Inc. subsidiary, which has
        developed and is now marketing a proprietary technology-based system
        that mitigates harmonics, a pollutant of electrical systems that may
        result in fires and damage to or destruction of transformers.

        
            With the inclusion of AIM, Katz said, Tri-Lite would emerge as a
        high technology company ensuring the safety of electrical systems
        and an energy conservation company through the sale of Tri-Lite's
        energy-efficient lighting fixtures.
   


        CONTACT:  Paul Keil, 909/625-4707



SEARCH CAPITAL GROUP ADDS TWO TO
BOARD OF DIRECTORS
        


            DALLAS, March 14, 1996 - Search
Capital Group, Inc.
,
        which recently received confirmation of the Joint Plan of
        Reorganization of its eight subsidiaries from the U.S. Bankruptcy
        Court, today announced Susan A. Brown and Frederick S. Hammer will
        join the company's existing board of directors.
        


            The eight Search subsidiaries have been operating under Chapter
        11 bankruptcy protection since August 1995.  Search itself is not in
        bankruptcy, but is a co-proponent of the subsidiaries' joint plan.

        
            The addition of Brown and Hammer, who were nominated by the
        bankruptcy subsidiaries' creditors' committee and approved by
        Search's current board members, increases the number of board
        members from six to eight.
   

     
            Brown, who served as chief executive officer of the reorganized
        First RepublicBank Corp. from 1991-94, is a principal of the Dallas-
        based InterSolve Group and chairman of ICH Corp.  A certified Public
        Accountant, she is a graduate of Southern Methodist University and
        earned an M.B.A. from the University of Texas at Austin.
      

  
            Hammer is a partner of Inter-Atlantic Securities Corp., a New
        York- based boutique investment banking firm which serves primarily
        financial institutions.  He previously served as chairman,
        president, and chief executive officer of Mutual of America Capital
        Management.  He is also the former president of SEI's Asset
        Management Group; chairman and chief executive officer of Meritor
        Financial Group; and executive vice president of Chase Manhattan
        Bank where he was responsible for the bank's global consumer
        operations.

        
            Hammer, who has taught finance and banking at The Wharton
        School, the University of Indiana, and New York University's
        Graduate School of Business Administration, is a graduate of Colgate
        University and earned and M.S. and Ph.D. in economics from Carnegie-
        Mellon University.
   

     
            Dallas-based Search Capital Group, Inc. is a specialized
        financial services company engaging in the purchase and management
        of used motor vehicle receivables.  Search shares are currently
        being traded on the OTC Bulletin Board (SRCG.OB).
      


        CONTACT:  Chris Anderson of Stern, Nathan & Perryman, 214-373-1601,
        or George C. Evans, chairman and CEO of Search Capital Group, Inc.,
        214-965-6000



Jay Jacobs Inc. reports profitable fourth
quarter
        


            SEATTLE, WA -- March 14, 1996 -- Jay
Jacobs Inc.

        (NASDAQ:JAYJ) today reported results for its fourth quarter and
        fiscal year ended Jan. 27, 1996.
        


            For the fourth quarter, the company reported a profit of
        $261,000, or 4 cents per share, on sales of $18,625,000.  This
        compares to a loss of $753,000, or 13 cents per share, on sales of
        $22,861,000 for the fourth quarter of the previous year.  Same store
        sales were equal to the same quarter last year.
        


            For the 12 month fiscal year ended Jan. 27, 1996, the company
        incurred a loss of $2,811,000, or 47 cents per share, on sales of
        $72,886,000.  This compares to a loss after reorganization cost for
        the previous 11 month fiscal year of $13,973,000, on sales of
        $90,490,000, or $2.37 per share.  Comparable store sales during the
        year decreased by 2%.
        


            "We are pleased with our fourth quarter performance," said Rex
        Steffey, president and CEO.  "Our fourth quarter profit represents
        the first quarterly profit in over three years!  We look forward to
        the future and a challenging 1996!"
        


            Jay Jacobs is a Seattle-based specialty apparel retailer selling
        to men and women, operating at year-end 136 stores located in 20
        states.  During the fourth quarter, the company opened four stores
        and closed 13 stores.


        
                      Jay Jacobs Inc. and Subsidiaries
        
                         Consolidated Balance Sheet
                        (Dollar Amount in thousands)
                               (Unaudited)
        
        Assets                               Jan. 27,       Jan. 28,
                                           1996           1995
        
        Current assets:
          Cash and cash equivalents          $   705        $ 8,898
          Accounts receivable                    442            261
          Inventories                          7,323          8,581
          Prepaid expenses                       219            158
        
         Total current assets              8,689         17,898
        
        Property and equipment, net            5,558          6,244
                                         $14,247        $24,142
        
        Liabilities and Shareholders' Equity
        
        Current liabilities:
          Accounts payable                   $ 1,402        $ 2,407
          Accrued payroll                        529            697
          Accrued reorganization liability     3,188            267
          Other accrued expenses                 550            741
        
         Total current liabilities         5,669          4,112
        
        Deferred Rental Credits                  995          1,318
        
        Accrued reorganization liability       4,362         12,718
        
        Shareholders' equity:
          Preferred stock                          0              0
          Common stock                        12,807         12,769
          Retained earnings                   (9,586)        (6,775)
                                           3,221          5,994
        
                                         $14,247        $24,142
        
                      Jay Jacobs Inc. and Subsidiaries
        
                    Consolidated Statement of Operations
                  (In thousands, except per share amounts)
                                (Unaudited)
        
                                  Three months ended    12 months ended
                                       January              January
                                   1996      1995       1996       1995
        
        Net sales                     $18,625   $22,861    $72,886
        $90,490
          Net operating expenses      $18,364   $23,614    $75,697
        $96,866
        
        Income (loss) before
         reorganization items and
          income taxes                    261      (753)   (2,811)
        (6,376)
                                                      
        Reorganization items                                           7,597
        
        Net income (loss)             $   261   $  (753)   $(2,811)
        $(13,973)
        
        Earnings (loss) per share     4 cents (13 cents) (46 cents)
        ($2.37)
        
        Weighted average number of
         shares outstanding             6,054     5,907      6,054     5,907
        
        
        Please note:  
            Fiscal 1996 is for a 12 month period vs. an 11 month period for
        fiscal 1995.
        
            Fourth quarter 1996 figures are for 3 months vs. the 3 month
        comparable fourth quarter figures for 1995.

        
        CONTACT:  Jay Jacobs Inc., Seattle
                  Bill Lawrence, 206/622-5400

        
Porta Systems Corp. announces completion of sale of its
fiber optic
business to Augat Inc. and renewal and extension of loan agreement with
its senior lender
        


            SYOSSET, N.Y. -- March 14, 1996 -- Porta Systems
        Corp.  (ASE-PSI) announces that on March 13, 1996 it completed the
        transaction with Augat Inc.  (NYSE-AUG) to sell the assets
        representing its fiber optic management and component business for
        approximately $8,000,000 and assumption of certain liabilities.  
        


            Porta Systems' fiber optic business was conducted through Porta
        Systems and a number of its subsidiaries, primarily Aster
        Corporation and Aster (Ireland) Limited.  During 1995, fiber optic
        sales amounted to approximately $6,500,000.  Porta Systems utilized
        the proceeds of the sale to reduce its outstanding senior debt and
        to provide working capital for the remainder of its operations.  

        
            Additionally, the Company announces the amendment and extension
        of its Loan and Security agreement with Foothill Capital
        Corporation, its senior lender.  The term of the agreement has been
        extended from November 30, 1996 to November 30, 1998.  This new
        agreement, among other things, provides for waivers of events of
        default through the date of the agreement and provides for
        additional letter of credit facilities.  
   

     
            As previously reported, the Company does not presently satisfy
        all of the American Stock Exchange's financial guidelines for the
        continued listing of its common stock.  In the event that this
        situation is not remedied, there can be no assurance that the
        listing of its common stock will continue.  
      

  
            Porta Systems Corp.  designs, manufactures, markets and supports
        communications equipment used in telecommunications, voice, video
        and data networks worldwide.  


        CONTACT: Mr. Edward B. Kornfeld,
                 Vice President - Chief Financial Officer:
                 Porta Systems Corp.,
                 (516) 364-9300
        




RICKEL PLANS TO CLOSE 13 LOCATIONS UNDER LEASEHOLD DISPOSITION PROGRAM
        


            SOUTH PLAINFIELD, N.J., March 14, 1996 - href="chap11.rickel.html">Rickel Home
        Centers, Inc.
announced today that, as part of its plan to
improve
        performance and position itself for the future, it plans to close up
        to 13 additional stores under its leasehold disposition program,
        which was originally announced in the Fall of 1995.  Eight of the
        stores will close within the next 90 days and two are expected to be
        closed by July, 1996, with the balance to be announced in the near
        future.
        


            "We have been analyzing our operations with the intention of
        identifying and closing underperforming, non-prototype stores," said
        Jules Borshadel, Chief Executive Officer of Rickel.  "The closing of
        these stores will eliminate a drag of unprofitable locations on our
        financial performance.  Moreover, the sale of our valuable
        leaseholds on several of these stores will help us fund investments
        in inventories and store improvements, including the rollout of
        improved store formats and departments now in prototype at certain
        of our locations.  Some of these closings should also drive
        additional sales at nearby Rickel stores.

        
            "While the action we announced today is a difficult one, the net
        result should be a more profitable Rickel focused on a solid group
        of successful and competitive stores, with the means to maintain our
        position as a significant force in the Northeast do-it-yourself home
        improvement marketplace," continued Mr. Borshadel.
   

     
            The eight stores to be closed in the next 90 days include the
        Cheltenham Avenue store in Philadelphia, PA and the Reading, PA
        location, the company's three stores in Manhattan, NY, locations in
        Middletown, NY and Totowa, NJ, as well as its one Maryland store
        located in Hagerstown.  Rickel expects to close its Menlo Park and
        Elmwood Park, NJ stores during the second quarter.

        
        The closings are subject to approval of the Delaware Bankruptcy Court.
            Including the stores to be closed, Rickel currently operates 79
        stores.  Since late 1995, Rickel has closed 13 stores under its
        leasehold disposition program.
   

     
            Rickel is a full-service home improvement retailer serving the
        do-it-yourself marketplace in New Jersey, Pennsylvania, New York
        and Delaware.
      

  
        CONTACT:  Dawn Dover or Andrea Bergofin of Kekst and Company,
        212-593-2655



CLI Reports Fourth Quarter and 1995 Results; Announces
Major Restructuring of the Company and Related Charges Against 1995
Results of Operations
        


            SAN JOSE, Calif. -- March 14, 1996 -- Compression
        Labs Inc. (CLI) (NASDAQ:CLIX) today announced a major restructuring
        of the company aimed at maximizing stockholder value by focusing on
        achieving consistent profitability and growth in the
        videoconferencing market.
        


            As part of the restructuring, the company is pursuing a number
        of strategic alternatives for its Broadcast Division.  Accordingly,
        CLI reported a net loss from discontinued operations of $37.9
        million for the fourth quarter of 1995.
        


            Revenue from continuing operations for the fourth quarter was
        $26.8 million, resulting in a net loss from continuing operations of
        $17.5 million for the quarter.  Results from continuing operations
        compare to fourth quarter 1994 revenue and net loss of $29.3 million
        and $1.0 million for continuing operations, respectively.

        
            The company reported revenue of $113.0 million and a net loss of
        $21.0 million from continuing operations for 1995, compared to 1994
        revenue and net loss from continuing operations of $115.0 million
        and $4.9 million, respectively.
   

     
            Gary Trimm, CLI's recently appointed president and chief
        executive officer, said, "We have achieved numerous technical
        successes in our Broadcast Division.  We have concluded that we
        cannot ultimately compete as we are presently positioned in the
        digital broadcast market against larger companies with greater
        financial resources, end-to-end product lines, and extensive
        worldwide sales reach.
      

  
            "We are in discussions with a number of companies which have
        expressed an interest in our Broadcast business, and we intend to
        pursue a strategy that achieves the best value for our stockholders.
        I want to be clear that although discussions are proceeding, no
        definitive agreement with respect to any offer has been reached, and
        there can be no assurance that a definitive agreement will be
        entered into, or if it were, that any transaction would be
        consummated."
        


            Trimm added, "As a part of the company restructuring, we also
        decided to restructure our videoconferencing division.  As a result
        of this decision, CLI recorded certain adjustments as of Dec. 31,
        1995 to the assets that were directly impacted.  These items
        consisted primarily of inventories, capitalized software and
        accounts receivable.  This resulted in approximately $15.1 million
        of incremental expenses in the fourth quarter.

        
            "As a result of our actions, we believe CLI will be better
        positioned to focus on the videoconferencing business.  To
        effectively capitalize on significant videoconferencing market
        opportunities, we will address each aspect of our operations to
        improve our efficiency and responsiveness to customer needs and
        reduce our costs.
   

     
            "This restructuring will result in an immediate and significant
        reduction in the company's operating expense levels.  Nonetheless,
        we will continue to invest in research and development to enhance
        our product offerings and introduce next generation technology."
      

  
            Trimm summarized, "We believe that this fundamental
        restructuring of CLI's business is essential to our long-term
        success.  Our priorities will be to establish consistent
        profitability in our videoconferencing business, and to reestablish
        a growth rate for CLI consistent with the growth rate of the
        videoconferencing industry.
        


            "We expect certain expenses to be recorded in the first quarter
        of 1996 relating to these actions that will contribute to an overall
        net loss for the company.  However, we expect that these cost
        reductions will have a favorable impact on net results beginning in
        the second quarter of 1996."

        
            As a result of the decision regarding the Broadcast Division,
        CLI's 1995 Statement of Operations presents the results of the
        Broadcast Division as discontinued operations.  Prior year
        statements have been reclassified to be consistent with the 1995
        presentation.  
   

     
            Net results in previous years have not been impacted by the
        revised presentation.  Videoconferencing results are shown as
        results from continuing operations.
      

  
            Statements in this press release which are not historical facts
        may be considered "forward-looking statements" regarding CLI's
        business.  CLI's operating results are subject to a variety of
        risks.  For a discussion of such risks, as well as further
        information about CLI's operating results, please see "Management's
        Discussion and Analysis of Financial Condition and Results of
        Operations" in CLI's most recent 10-Q.

        
            CLI is a leading designer and manufacturer of solutions for
        digital video communications.  Using its core technology, compressed
        digital video, the company provides a range of video communications
        products for business, government, educational and healthcare
        organizations.
   


        
                         COMPRESSION LABS, INC.
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                  (In thousands, except per share amounts)
                               (Unaudited)
        
                                        Three Months Ended Dec. 31,
                                        1995                    1994
        
        Revenues                       $  26,755                $ 29,324
        
        Cost of Revenues                  27,372                  17,936
        
           Gross Margin                     (617)                 11,388
        
        Operating Expenses:
          Selling, general and
        administration                13,562                   9,644
        Research and development       3,040                   2,528
                                      ------                  ------
                                      16,602                  12,172
                                  
        Loss from operations:        (17,219)                   (784)
        
        Interest income                       12                      18
        Interest expense                    (278)                   (225)
        
        Net Loss from continuing
         operations                      (17,485)                   (991)
        Discontinued operations of
         Broadcast Products Division:
           Income (Loss) from
        discontinued operations       (3,315)                  1,492
           Loss on disposal of
        discontinued operations      (34,601)                    ---
           Net Loss from discontinued
         operations                  (37,916)                  1,492
        
        Net Income (Loss)              $ (55,401)                  $ 501
        
        Net Income (Loss) Per Share:
          Net Loss from continuing
        operations                    ($1.13)                 ($0.07)
          Net Income (Loss) from
        discontinued operations       ($2.45)                  $0.10
        
          Net Income (Loss) Per Share     ($3.58)                  $0.03
        
        Weighted average common shares
          and common share equivalents
          outstanding                     15,463                  15,000
                           
        
                                           Year ended Dec. 31,
                                       1995                    1994
        
        Revenues                       $ 112,979               $ 114,958
        
        Cost of Revenues                  79,359                  70,904
        
           Gross Margin                   33,620                  44,054
        
        Operating Expenses:
          Selling, general and
        administration                43,658                  38,153
        Research and development       9,974                  10,158  
                                      ------                  ------
                                      53,632                  48,311
                                   
        Loss from operations         (20,012)                 (4,257)
                                   
        Interest income                      114                     177
        Interest expense                  (1,142)                   (798)
        
        Net Loss from continuing
         operations                      (21,040)                 (4,878)
        Discontinued operations of
         Broadcast Products Division:
           Income (Loss) from
        discontinued operations       (1,941)                  4,985
           Loss on disposal of
        discontinued operations      (34,601)                    ---
           Net Income (Loss) from
        discontinued operations      
                                     (36,542)                  4,985
        
        Net Income (Loss)              $ (57,582)                  $ 107
        
        Net Income (Loss) Per Share:
          Net Loss from continuing
        operations                    ($1.37)                 ($0.32)
          Net Income (Loss) from
        discontinued operations       ($2.39)                  $0.33
          Net Income (Loss) Per Share     ($3.76)                  $0.01
        
        Weighted average common shares
          and common share equivalents
          outstanding                     15,304                  15,160
        
                           COMPRESSION LABS, INC.
                               BALANCE SHEETS
                                 (Audited)
        
                                         Dec. 31,        Dec. 31,
                                             1995            1994
                                                (In thousands)
        
        ASSETS
        Current Assets
          Cash and cash equivalents         $  12,638       $  11,319
          Accounts receivable, less
        allowance for doubtful
        accounts of $10,028 in
        1995, and $1,992 in 1994           46,798          54,470
          Inventories                          22,821          29,511
          Prepaid expenses and other
        current assets                      1,096           2,715
            Total Current Assets           83,353          98,015
        Property and Equipment                 37,443          40,133
        
          Less: Accumulated depreciation
        and amortization                  (20,171)        (19,251)
         Net Property and Equipment        17,272          20,882
        
        Capitalized Software, net               3,828          11,868
        
        Other Assets                              300             886
        
            Total Assets                 $104,753        $131,651
        
        LIABILITIES AND STOCKHOLDERS' EQUITY
        
        Current Liabilities               
          Short-term debt                    $ 12,795        $  9,803
          Current portion of long-
        term debt and capital
        lease obligations                     876             750
        Accounts payable                   26,169          20,040
        Accrued liabilities                21,976           6,362
        Deferred income                     6,278           7,240
        
        Total Current Liabilities          68,094          44,195
        
        Long-Term Debt and Capital                                    
          Lease Obligations                       985             494
        
        Stockholders' Equity
        
          Preferred Stock
        Undesignated Preferred
          Stock, $.001 par value;
          4,000,000 shares authorized;
          none issued and outstanding          --              --
          Common Stock
        $.001 par value; 25,153,658
          shares authorized, shares
          issued and outstanding;
          15,491,475 in 1995, and
          14,655,745 in 1994                   15              15
          Additional paid-in capital          120,696         114,402
          Accumulated deficit                 (85,037)        (27,455)
        
          Total Stockholders' Equity       35,674          86,962
        
          Total Liabilities and    
            Stockholders' Equity        $ 104,753       $ 131,651
        

        CONTACT:  CLI
                  William A. Berry, 408/922-4653
                             or
                  William Dunk Partners Inc.
                  William Dunk, 214/960-9611



TODAY'S MAN TO CLOSE THREE UNDERPERFORMING LOCATIONS


            MOORESTOWN, N.J., March 14, 1996 - href="chap11.todays.html">Today's Man, Inc.
        (Nasdaq-NNM: TMANQ), operating under the protection of Chapter 11 of
        the U.S. Bankruptcy Code as a Debtor-In-Possession, announced today
        that it will close three underperforming locations - Staten Island,
        New York, Springfield, Virginia and 81st and Broadway in Manhattan.
        The three closings, which will occur on or around March 31, 1996,
        are in addition to the seven Chicago locations the Company closed
        shortly after filing for Chapter 11 protection.
        


            "After reviewing the Company's performance on a store-by-store
        basis, we believe that we have a core of strong locations in all
        three markets.  Closing these three underperforming stores, in
        addition to those already closed in Chicago, allows us to focus our
        turnaround efforts on our best performing stores in our three key
        markets," said David Feld, President and Chief Executive Officer.
        "While we continue to monitor and evaluate the performance of every
        Today's Man location, we believe that the remaining 25 stores
        represent a strong base for the future.  We are committed to
        maintaining a significant presence in the greater New York,
        Philadelphia and Washington, D.C. areas."

        
            In order to reduce the impact of the store closings on Today's
        Man associates, where possible, the Company will attempt to transfer
        certain employees to other area locations.  The Company expects the
        close proximity of additional superstores to provide its customer
        base with the opportunity to continue shopping at Today's Man with
        minimal inconvenience.

        
            "Closing stores is never an easy decision, and we recognize the
        difficulty that these store closings may create for our associates
        and our customers," added Feld.  "After careful consideration, we
        determined that our strong presence in both the New York and
        Washington, D.C. markets and the proximity of our other locations
        will allow us to take these actions in an effort to improve the
        Company's  performance with the least impact on our employees and
        customers."
   

     
            Today's Man is a men's apparel superstore retailer offering a
        wide selection of tailored clothing, furnishings, accessories and
        sportswear at every day low prices.  After these closings, the
        Company will operate 25 locations and employ approximately 1,250
        people in the greater New York , Philadelphia and Washington, D.C.
        markets.
      

  
        CONTACT:  Michael W. Kempner or Carreen Winters of MWW/Strategic
        Communications, Inc. Public Relations, 201-507-9500