Bankruptcy News For - May 2, 1996

  1. PCPI makes announcements
  2. AST reports first quarter results...
  3. Helionetics Says Tri-Lite Subsidiary, Bank Reach Agreement
  4. Dairy Mart announces financial results
  5. Notice To Holders of Common Stock of Bennett Funding Group...
  6. Converse announces first quarter results
  7. Dream Factory files Chapter 7
  8. Forest Oil Corp. Reports First Quarter 1996 Pre-Tax Earnings

PCPI announces record quarterly engineering fees and beginning of
"new-technology" royalty stream; company reassesses "old-technology"
product line, records non-cash restructuring charge

            SAN DIEGO, CA -- May 2, 1996 -- Personal Computer
        Products Inc. (NASDAQ:PCPI), a leading developer of laser printer
        technology and distributor of value-added accessory products,
        Thursday reported record quarterly engineering fees as the result of
        efforts to adapt the company's software products to the hardware
        controllers of its OEM customers.

            During the three months ended March 31, 1996, the company
        recognized approximately $931,000 in engineering fees, compared with
        $406,000 for the three-month period ended March 31, 1995, an
        increase of 129%.  For the nine-month periods ended March 31, 1996,
        and 1995, the company recognized NRE fees of approximately
        $1,444,000 and $716,000, respectively, an increase of 102%.

            In addition, the company recorded $160,000 of "new-technology"
        based royalties as the result of the initial shipments of a product
        that the company developed for Matsushita Electric Co. Ltd.

            "PCPI has been involved in a major transition in its strategic
        direction over the past several years," said Edward W. Savarese,
        president and chief executive officer.  

            "Our emphasis on sales of printer controller technology,
        including Adobe PostScript(r) Level 2 software and multi-function
        laser printer controller technology, has grown significantly.
        Current contracts are now covering our engineering costs and
        overhead.  Absent the one-time, non-cash restructuring charge, this
        quarter represents a return to profitability."  

            During the quarter ended March 31, 1996, the company reassessed
        its ability to market certain "old-technology" product lines.  As a
        result, the company took a one-time, non-cash write-down of
        $2,058,000 ($0.11 per share) against capitalized software, prepaid
        licenses and royalties, inventories and certain pre-paid assets.

            "Since becoming chairman of PCPI in December 1995, I am
        extremely pleased with the progress we have made.  Our change in
        strategy and focus appears to be bearing fruit.  I look forward to
        continuing to work with the company in solidifying its business
        relationships with major OEM customers in Japan and throughout the
        world and helping to ensure that we have the financial resources to
        support them," said Harry J. Saal, chairman of PCPI.

            PCPI reported consolidated revenues of $2,814,000 for the
        quarter ended March 31, 1996, compared with $3,548,000 for the
        quarter ended March 31, 1995.  The decline in revenues reflects the
        strategic shift from lower margin "old-technology" products to
        higher margin "new-technology" products.  

            PCPI reported a net loss for the third quarter (after taxes, and
        extraordinary item) of $2,017,000 which includes the one-time
        restructuring charge of $2,058,000.  The company reported a net loss
        of $70,000 for the quarter ended March 31, 1995.  

            The company reported consolidated revenues of $8,044,000 for the
        nine months ended March 31, 1996, compared with $10,658,000 for the
        nine months ended March 31, 1995.  PCPI reported a net loss (after
        taxes and extraordinary item) for the nine-month period ended March
        31, 1996, of $3,757,000 vs. a net loss of $1,548,000 in the nine
        months ended March 31, 1995.

            PCPI reported a primary loss per common share of $0.11 for the
        third quarter and $0.21 for the nine-month period ended March 31,

        CONTACT:  Personal Computer Products Inc., San Diego
                  Edward W. Savarese or Ralph R. Barry, 619/485-8411

AST reports first quarter results; also
        announces reorganization plans, new CFO, and global workforce

            IRVINE, Calif. -- May 2, 1996 -- AST Research Inc.
        (NASDAQ:ASTA) Thursday announced revenues of $530.0 million for the
        first quarter of fiscal year 1996, ended March 30.  

            This compares with revenues of $670.2 million reported during
        the comparable prior year period.  

            The company reported a net loss of $115.8 million, or net loss
        per share of $2.59, compared to a net loss of $6.5 million and net
        loss per share of 20 cents reported during the prior year period.  

            AST also announced plans to restructure its worldwide
        operations, which will involve organizing the Americas, Europe and
        Asia Pacific regional operating groups into separate entities, each
        with distinct goals and objectives.  The company is also
        consolidating some operations, including the closing of certain
        regional offices.  

            In addition, the plan will ultimately result in a smaller,
        centralized corporate operation at the company's Irvine
        headquarters. This is expected to result in a restructuring charge
        during the second quarter of approximately $10 million - 15 million,
        the amount of which will be determined within the current fiscal

            This restructuring activity will result in a layoff of
        approximately 300 full-time, temporary and contract workers
        worldwide over the next few months.  The current plan provides that
        most sales, service and product development resources will not be

            The planned workforce reductions will occur throughout other
        areas of the company's global organization, including corporate,
        manufacturing and the operating regions.  These actions, when
        combined with previously announced layoffs related primarily to
        manufacturing realignments in the Far East, will reduce the current
        worldwide workforce by approximately 1,000 employees.  

            In a separate release, AST announced that Joseph E. Norberg will
        join the company as senior vice president and chief financial
        officer beginning May 6.  He joins AST following tenures with Hill,
        Holliday, Connors, Cosmopulos Inc., a Boston-based advertising
        agency, and Wang Laboratories.  

            "While the first quarter revenues and losses were worse than
        expected, the company's focus on asset management has continued,
        resulting in the highest inventory turn levels in AST's history,"
        said Ian Diery, AST president and chief executive officer.  

            "Lower sales were caused by excess competitor inventory in the
        channel, reduced industry demand for PCs during the first two months
        of the quarter and greater pricing pressures than initially
        anticipated.  Although the company's product development cycle has
        improved, product development issues also contributed to the lower-
        than-expected results.  

            "AST's restructuring activities are designed to provide greater
        focus and accountability within the Americas, Europe and the Asia
        Pacific regions; further reduce costs; and enhance our progress in
        returning to a market share growth position.  

            "As the PC industry becomes more competitive, AST has been
        forced to adjust the size of its worldwide staff in order to hasten
        our return to profitability.  While we regret the need to take these
        actions, I believe they are both necessary and important in
        improving the company's long-term outlook."  

            "We strongly support the intense efforts AST is making towards
        its turnaround plan and maintain our full confidence in the
        abilities of the company's worldwide management team," said Won S.
        Yang, Samsung Electronics senior executive managing director and an
        AST board member.  

            "We believe these actions, together with the company's new
        product development capabilities, aggressive pricing strategy and
        strengthened service and support operations will quickly distinguish
        AST from its competitors.  Samsung will continue to work closely
        with AST's management to achieve the turnaround."  

            "Prior to implementing the product transitions which are now
        occurring within the Bravo business desktop and Ascentia mobile
        system families, aggressive pricing actions were required during the
        first quarter to reduce channel inventories of older products," said
        Diery.  "Moving forward with the support and assistance of Samsung
        Electronics, we will continue our highly-proactive efforts to gain
        market share and return to profitability."  

            Worldwide revenues for the first quarter included sales of
        $520.0 million, in addition to $10 million received from Samsung
        related to Strategic Consulting and Server Technology Transfer

            Worldwide sales represented a 22 percent decrease from the prior
        year period.  Sales of $260.5 million in the Americas and $259.5 in
        international regions declined 25 and 20 percent, respectively,
        compared to the prior year's quarter.  

           During the quarter, the company shipped approximately 300,000
        units, comprised of 270,000 desktops and 30,000 notebooks.
        Shipments of Pentium(r) and Pentium(r) Pro systems, including
        desktops and notebooks, represented 93 percent of all units shipped.

        Balance Sheet Summary

            During the first quarter, AST continued to focus on improving
        its balance sheet and maintaining prudent inventory management.  

            At March 30, 1996, total cash and cash equivalents were $126.9
        million, with $85.0 million in short-term borrowings.  Total net
        inventory was $190.4 million, down from $252.3 million at Dec. 30,
        1995 and represented inventory turns of 11.5.  Accounts receivable
        totaled $398.3 million, which represented 68 days sales outstanding.

            During the quarter, AST increased its one-year revolving credit
        facility from $100 million to $200 million, which is fully available
        to the company for its working capital needs and is guaranteed by
        Samsung Electronics Co. Ltd.  

        First Quarter Summary

            During the quarter, AST revised its business strategy to focus
        on being first to bring aggressively-priced, leading-edge PC
        technologies to market within the indirect sales channel in order to
        gain a competitive advantage over direct manufacturers like Dell and
        Gateway 2000, as well as traditional channel suppliers including
        Compaq, IBM and Hewlett-Packard.  

            To support this goal and to become the most reliable supplier to
        computer resellers, AST is focused on maintaining short and flexible
        supply lines.  The company also made significant improvements to its
        domestic service and support operations, which resulted in faster
        deliveries of spare parts and reduced wait times on its toll-free
        telephone support lines.  

            To manifest its first to market strategy and commitment to short
        and flexible supply lines, AST has leveraged the strengths of its
        strategic relationships with Intel Corp., Samsung Electronics and
        other manufacturers.  

            The company has significantly increased its use of PC system
        motherboards from Intel enabling AST to quickly deliver systems to
        customers featuring the latest Pentium(r) processors and Pentium(r)
        Pro processors.  

            AST demonstrated progress with its revised business strategy
        during the quarter by being first to begin deliveries of several PC
        technologies to computer resellers, including:

            "Resellers worldwide have expressed strong support and
        extraordinary enthusiasm for our new business strategy," stated
        Diery.  "During the quarter, many of our indirect channel partners
        have begun to lay plans and implement activities to proactively
        promote our notebook and desktop products using their own marketing
        resources.  These efforts, along with our own aggressive marketing
        activities, should help provide additional impetus for achieving
        positive momentum."  

            To create excitement and enhance awareness for the company's new
        products above and beyond reseller's efforts, AST launched a
        comprehensive marketing campaign during the quarter that combines
        advertising, public relations and direct mail components, as well as
        new enhancements for its Internet Worldwide Web site, now on-line.  

            The multi-million dollar campaign represents the most aggressive
        efforts in the company's history and is expected to play a key role
        in AST's efforts to return to profitability and a market share
        growth position.  

         Forward-Looking Statements

            Statements contained in this press release which are not
        historical information are forward-looking statements as defined
        within the Private Securities Litigation Reform Act of 1995.  Such
        forward-looking statements are subject to risks and uncertainties
        which could cause results to differ materially from those projected.

            Such potential risks and uncertainties include, but are not
        limited to: the level of competitive pricing pressures in the
        computer industry; the company's ability to continue to develop,
        produce and deliver new products that incorporate leading-edge PC
        technologies on a timely basis, that are competitively priced and
        achieve significant market acceptance; the effect of any continued
        losses on the company's supplier and customer relationships; and its
        ability to fund continuing operations.  

            Additional factors which could affect the company's financial
        results are included in the company's report on Form 10-K for
        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 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  

            AST(r), Advantage!(r), Ascentia and Bravo are
        trademarks of AST Research Inc.  Intel and Pentium are registered
        trademarks, and Pentium Pro is a trademark of Intel Corp.  Windows
        is a registered trademark and Windows NT is a trademark of Microsoft

                             AST Research Inc.
                    Condensed Consolidated Balance Sheets
                              (In thousands)
                                         March 30,        Dec. 30,
                                           1996             1995
         Cash and cash equivalents           $126,857         $125,387
         Accounts receivable, net             398,305          392,598
         Inventories                          190,414          252,339
         Other current assets                  59,386           67,297
          Total current assets                774,962          837,621
         Property and equipment, net           97,821           98,725
         Other assets                         110,983          119,696
          Total assets                       $983,766       $1,056,042
        Liabilities and shareholders' equity:
         Current liabilities                 $657,822         $614,075
         Long-term debt                       125,493          125,540
         Other non-current liabilities          5,293            5,545
          Total liabilities                  $788,608         $745,160
         Common stock and additional capital  415,218          415,182
         Retained earnings                   (220,060)        (104,300)
          Total shareholders' equity          195,158          310,882
           Total liabilities
           and shareholders' equity          $983,766       $1,056,042
                             AST Research Inc.
               Condensed Consolidated Statements of Operations
                  (In thousands, except per share amounts)
                                              Quarter Ended
                                         March 30,        April 1,
                                           1996             1995
        Net sales                            $519,972         $670,176  
        Revenue from related party             10,000            ---
        Total revenue                         529,972          670,176
        Cost of sales                         549,618          583,234
          Gross profit (loss)                 (19,646)          86,942
        Selling, general and administrative    76,983           80,939
        Engineering and development            10,514            9,016
          Operating loss                     (107,143)          (3,013)
        Financing and other income
        (expense), net                         (8,617)          (5,121)
          Loss before taxes                  (115,760)          (8,134)
        Benefit for taxes                        ---            (1,586)
        Net loss                            $(115,760)         $(6,548)
        Net loss per share                     $(2.59)          $(0.20)
        Shares used in computing
        net loss per share                     44,682           32,376
                                 AST Research Inc.
                         Computation of Net Loss per Share
                     (In thousands, except per-share amounts)
                                                     Quarter Ended
                                               March 30,         April 1,
                                                 1996              1995
        Shares used in computing primary
         loss per share:
          Weighted average shares of
           common stock outstanding                 44,682            32,376
          Effect of stock options treated as
           common stock equivalents under
           the treasury stock method                    --                --
        Weighted average common and common
         equivalent shares outstanding              44,682            32,376
        Net loss                                 $(115,760)        $
        Net loss per share - primary (a)         $   (2.59)        $

        (a)  Fully diluted per share information is not presented as such
         amounts are anti-dilutive.

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

Helionetics Says Tri-Lite Subsidiary,
Bank Reach Agreement; Lighting Company Expects To Emerge From Bankruptcy In
        Third Quarter

            SANTA ANA, Calif. -- May 2, 1996 -- Helionetics
        Inc. (OTC BB:HLXC), Van Nuys, Calif., Thursday said its majority-
        owned subsidiary Tri-Lite Inc.,
presently in Chapter 11 bankruptcy
        proceedings, has reached an agreement with its secured creditor,
        Star Bank, Cincinnati, and expects to submit a plan of
        reorganization to the U.S. Bankruptcy Court, Santa Ana, this
        calendar quarter.  

            Helionetics also said Tri-Lite expects to emerge from bankruptcy
        in the third calendar quarter as a "profitable, viable high-
        technology company in the energy-management business with positive
        cash flow." Tri-Lite sales are currently running at an annualized
        rate of $12 million.

            Tri-Lite, which was delisted from the American Stock Exchange
        subsequent to filing for bankruptcy Feb. 26, 1996, said it plans to
        file its annual report on Form 10K to the Securities and Exchange
        Commission in the near future and will apply at that time for
        listing on NASDAQ's Bulletin Board.

            Tri-Lite President A. Alvin Katz said Star Bank had agreed to a
        monthly payback of the approximate $1.7 million owed to it by Tri-
        Lite with the final payment due on Dec. 15, 1996.  Helionetics
        and/or its principal shareholder, Susan Barnes, have agreed to make
        up any shortfall in the monthly payments.

            Also, as part of the agreement, the bank's cash collateral has
        been released to Tri-Lite as operational capital.

            Helionetics Chairman Bernard B. Katz said that as part of the
        reorganization, Helionetics plans to contribute to Tri-Lite a
        Helionetics subsidiary, AIM Energy Inc., which has developed and
        completed the beta-testing of an electronic filter that mitigates
        harmonics, a pollutant of electrical systems.

            Excessive harmonics, potentially the cause of fires and the
        cause of damage to electrical systems, is an increasingly major
        problem throughout the world.

            Bernard Katz said the underlying motive from the outset was to
        preserve Tri-Lite's shareholder base.  He said "that end is nearing

        CONTACT:  Tri-Lite Inc. -
                  A. Alvin Katz, 800/421-6102 -
                   or -
                  Paul Keil/Andy Malone, 714/366-5803

Dairy Mart announces fiscal 1996 fourth quarter and full
year financial results

            ENFIELD, Conn. -- May 2, 1996 -- Dairy Mart
        Convenience Stores Inc., (NASDAQ: DMCVA & DMCVB) announced financial
        results for its fiscal 1996 fourth quarter and full year, which
        ended Feb. 3, 1996.  

            Excluding nonrecurring charges, the company turned around the
        prior year's pre-tax operating loss of $3.3 million to a pre-tax
        operating profit of $3.0 million for fiscal 1996.  

            Largely because of management's ongoing effort to weed-out
        underperforming convenience stores and because of the closing and
        sale of the company's dairy manufacturing and distribution
        operations, the company's revenues for fiscal 1996 decreased 4.3
        percent to $571.3 million from $596.8 million for the prior year.
        Convenience store revenues declined 3.9 percent in fiscal 1996
        because the company closed or sold 92 underperforming stores during
        the year.  Average sales per store, however, were 5.4 percent higher
        for fiscal 1996 than they were for fiscal 1995, and average gross
        profit per store was up 9.6 percent.  Gasoline revenues increased
        7.6 percent because of an increase in price and in gallons sold.  On
        a per location basis, average gasoline gallonage sold increased 11.4
        percent reflecting the opening of eight new higher-volume locations
        and the closing of 38 lower-volume locations.  

            The company incurred $12.2 million in nonrecurring charges in
        fiscal 1996.  These charges included $9.0 million in legal and
        professional fees and other costs and expenses associated primarily
        with corporate govepnance issues, including the purchase of a former
        majority stockholder's interests in the company, $2.2 million in
        additional costs associated with the previously announced closing of
        certain retail convenience stores and gasoline facilities, and $1.0
        million for the writedown of a non-operating office and plant
        facility to net realizable value in conjunction with the anticipated
        sale of this property.  For fiscal 1995, total nonrecurring charges
        were $14.0 million.  

            "When we factor out these nonrecurring charges, I am extremely
        pleased that the company has achieved a $6.3 million turnaround in
        operating profitability," said Robert B. Stein Jr., Dairy Mart's
        chairman, president, and chief executive officer.  

            The company's net loss of $6.0 million, or $1.12 per share, for
        fiscal 1996 compared favorably with the net loss of $11.2 million,
        or $2.01 per share, for fiscal 1995.  The cumulative effect of an
        accounting change increased the prior year's net loss by $0.07 per

            For the fourth quarter of fiscal 1996, revenues increased 4.7
        percent to $143.1 million from $136.7 million in the prior year's
        comparable quarter primarily because of increased gasoline revenues,
        due again to an increase in both price and gallons sold.
        Convenience store revenues were relatively flat in the fourth
        quarter, but average sales per store were 5.6 percent higher.  

            On a pre-tax basis, exclusive of nonrecurring charges, the
        company's fourth quarter operating loss was $2.2 million in fiscal
        1996 as compared to $2.1 million in fiscal 1995.  The fourth
        quarter, which typically has been a seasonably slow quarter, was
        further impacted by severe winter weather in many of the company's
        operating areas, reduced gasoline gross margins in comparison to the
        prior year fourth quarter margins and because of higher interest
        expense.  The company's fourth quarter net loss of $7.5 million, or
        $1.57 per share, in fiscal 1996, was slightly less than the fourth
        quarter net loss of $7.6 million, or $1.38 per share, in the prior
        year.  The net loss per share increased because of a 14 percent
        decrease in the average number of shares outstanding.  

            As previously announced, in the fourth quarter of fiscal 1996
        the company paid $10.0 million to purchase the total interests of
        Dairy Mart founder Charles Nirenberg and certain of his affiliates
        in DM Associates Limited Partnership, which holds a majority of the
        company's Class B common stock.  Included in nonrecurring charges
        are costs and expenses for certain other matters, among which are
        Nirenberg's waiver of certain claims against the company, his
        execution of a non-compete agreement and his reimbursement for fees
        and expenses incurred in connection with activities relating to
        Dairy Mart.  

            "Dairy Mart's management team is now focused entirely on
        achieving profitable growth of the company's retail convenience
        store business,"  commented Stein.  "The cost of narrowing this
        focus and aligning management's efforts toward this goal was
        substantial and necessary, but the company is now in the best
        position its been in years to build value for the benefit of its
        employees and shareholders in the years ahead.  We are thinking
        strategically and will continue to take advantage of opportunities
        to enhance our position in the industry as we move forward."  

            "Our multi-year business plan calls for divesting additional
        noncore assets, reducing administrative overhead further, closing
        more unprofitable stores, strengthening the balance sheet through
        improved earnings and committing $100 million of internally
        generated funds to asset improvement programs," Stein said.  "Given
        how the plan has progressed so far, we think that cash flow from
        operations and the sale of certain assets will be sufficient to
        provide us with the liquidity and capital necessary to achieve our
        goals for improving and expanding our profitable retail operations."

            "We spent $20.2 million in total capital expenditures in fiscal
        1996," Stein continued.  "These expenditures primarily related to
        store and gasoline equipment for new store locations, remodeling
        some of our existing stores, introducing certain branded fast food
        concepts in a number of stores, and upgrading certain gasoline
        locations to install credit card readers at the pumps, to improve
        outdoor lighting, and to meet current environmental standards.
        These improvements will provide our customers with high-quality
        facilities as Dairy Mart evolves and strengthens its reputation as
        the preferred store in its marketing areas."  

            "We expect fiscal 1997 to be a year during which we continue to
        build for the future," Stein added.  "The severe winter weather this
        year, combined with relatively soft gasoline gross margins, may dull
        our first-quarter financial comparisons, but as we follow our
        business plan and continue our efforts and establish a sustainable
        trend of improving operating and financial results, we view the
        current year with optimism."  

            Dairy Mart, with its corporate offices in Enfield, Conn., is one
        of the nation's leading convenience store chains.  It operates in 11
        states with approximately 900 stores, 375 of which sell gasoline.  

                   Consolidated Statements of Operations
                 (in thousands, except per share amounts)
                          For the fourth fiscal     For the fiscal
                             quarter ended            year ended
                           Feb. 3,    Jan. 28,    Feb. 3,   Jan. 28,
                            1996        1995       1996       1995
        Revenues              $143,117   $136,647   $571,311   $596,782
        Cost of goods sold and
         Cost of goods sold    103,899     99,177    413,548    439,757
         Operating and
          expenses              38,743     37,296    145,122    151,125
         Interest expense        2,679      2,224      9,661      9,219
         Nonrecurring charges    9,750     10,047     12,200     14,000
                            ------    -------    -------    -------
                           155,071    148,744    580,531    614,101
        Income (loss) before
         income taxes and
         cumulative effect
         of accounting change  (11,954)   (12,097)    (9,220)  (17,319)
        Benefit from income
         taxes                   4,451      4,448      3,220     6,558
        Income (loss) before
         cumulative effect of
         accounting change      (7,503)    (7,649)    (6,000)  (10,761)
        Cumulative effect of
         accounting change
         (net of income tax
         benefit of $271)           --         --         --      (389)
        Net Income (loss)      $(7,503)    $(7,649)  $(6,000) $(11,150)
        Weighted average number
         of shares               4,772      5,551      5,374     5,541
        Earnings (loss) per
          Before cumulative
           effect of
           accounting change    $(1.57)    $(1.38)    $(1.12)   $(1.94)
          Cumulative effect of
           accounting change        --         --         --     (0.07)
        Earnings (loss) per
         share                  $(1.57)    $(1.38)    $(1.12)   $(2.01)
                                  Detail of Nonrecurring Charges
                              For the fourth fiscal     For the fiscal
                                  quarter ended           year ended
                               Feb. 3,    Jan. 28,    Feb. 3,   Jan. 28,
                                 1996       1995       1996       1995
        Cost and expenses related
         to settlement agreement
         with stockholder          $5,542       $ --     $6,487       $ --
        Costs to divest of diary
         manufacturing and
         distribution operations      548      2,500      1,313      2,500
        Administrative severance,
         settlement and related
         costs                      1,211        250      1,211      2,800
        Regulatory and administrative
         fees and expenses          1,287        931      1,287      1,216
        Writedown of non-operating
         properties to net
         realizable value           1,000      2,984      1,000      3,584
        Costs of store closings and
         restructuring                162      3,382        902      3,900
        Total nonrecurring charges  9,750     10,047     12,200     14,000

        CONTACT:  Diary Mart;
                  Gregory G. Landry, 860-741-4516

Notice To Holders of Common Stock of
Bennett Funding Group,
        Inc. And Bennett Funding International, Ltd.

            NEW YORK -- May 2, 1996 -- The following Notice is
        issued by the law firm of Wechsler Harwood Halebian & Feffer LLP
        (212-935-7400) on behalf of their clients who have commenced a
        lawsuit on behalf of purchasers of certain securities of href="chap11.bennett.html">Bennett
        Funding Group, Inc.
("Funding") and Bennett Funding
        Ltd.  ("International").  Funding, which has filed for protection
        under Chapter 11 of the United States bankruptcy laws, finances
        companies seeking to fund office equipment; International finances
        timeshares and related transactions.  

            On April 24, 1996, a class action, entitled Spencer, et al. vs.
        Bennett, et al., 96 Civ.  2989 was filed in the United States
        District Court for the Southern District of New York.  The action is
        against International; certain companies affiliated with Funding and
        International; Patrick R.  Bennett; Michael Bennett; Edmund Bennett;
        Kathleen Bennett; Mahoney Cohen and Company, P.C.; and Jameson,
        Dewitt and Associates, Inc.  The Class asserted in the action is
        purchasers of securities of International and certain securities of
        Funding during the period commencing April 28, 1993 and ending April
        1, 1996.  

            The Complaint alleges that the class on whose behalf this action
        is brought was damaged by the defendants because the sales of
        Funding and International were part of a massive Ponzi scheme.  The
        lawsuit alleges that the defendants were able to effectuate their
        Ponzi scheme by assigning to investors payments on equipment leases
        which either did not exist or had previously been sold to other
        investors. It is also alleged that as new investors purchased
        assignments, the proceeds of their investments were used to pay
        longer-term investors. The Complaint further charges that to induce
        new members of the public to invest in Funding and International,
        defendants caused false and misleading financial information to be
        distributed to the proposed class.  

            The Complaint brings claims under both the federal securities
        laws and state statutory and common law.  The Complaint seeks
        damages and equitable relief for all members of the proposed class.

            If you purchased Funding assignments of leases or notes
        supposedly secured by leases or securities of International between
        April 28, 1993 and April 1, 1996, you are a member of the proposed
        Class.  If you purchased such securities during that period, you may
        move the Court within 60 days of the publication of notice to serve
        as lead counsel for the security holders.  In order to serve as lead
        plaintiff, you must meet certain legal standards.  

            Attorneys at plaintiffs' law firm in this action -- Wechsler
        Harwood Halebian & Feffer LLP -- have litigated securities actions
        for decades before many state courts, most of the United States
        Circuit Courts of Appeals, and the United States Supreme Court.  In
        addition, members of the firm have extensive experience in many
        commercial areas of the law, including securities, corporate,
        complex business transactions, as well as various aspects of
        consumer protection.  

            If you have any questions about this Notice or the Action, or on
        your rights, please contact Robert I. Harwood or Jeffrey M. Haber at
        the firm's office, 805 Third Avenue, New York, New York 10022
        (Telephone No.  212-935-7400).  

        CONTACT:  Robert I. Harwood or Jeffrey M. Haber;
                  805 Third Avenue, New York, New York 10022;  

Converse announces first quarter results

            NORTH READING, Mass. -- May 2, 1996 -- Converse
        Inc. (NYSE:CVE) today announced financial results for the first
        quarter ended March 30, 1996.  

            Revenues for the first quarter were $86.6 million compared to
        $131.2 million in the same period of 1995.  Earnings from operations
        were $239,000 versus $17.1 million in the comparable quarter of last
        year.  The net loss was $3.3 million or $0.20 per share compared to
        net income of $8.5 million or $0.51 per share in the first quarter
        of 1995.  

            Financial performance for the quarter reflects declines of 35.5%
        in U.S. sales and 32.4% in international sales.  As reported in the
        1995 year end financial results, net sales for the period are
        reflective of the open order backlog as of December 30, 1995, which
        was approximately 24% lower than the backlog at December 31, 1994.
        The Company continued to recognize strong gains in its children's
        category during the period which were offset by declines in
        athleisure, basketball and cross-training sales.  

            The Company achieved a 17% reduction in its selling, general and
        administrative expenses during the first quarter as a result of its
        restructuring plan announced last November.  

            Converse's backlog of firm customer orders decreased to $149.3
        million at March 30, 1996 from $157.1 million at April 1, 1995.  The
        Company also stated that the order response to its back-to-school
        and holiday product lines are up 19% over 1995.  

            Mickey Bell, President, commented, "Certainly we faced a
        difficult quarter but we are pleased to report that Converse is
        recognizing the benefits of our strategic restructuring plan.  In
        the first quarter alone, we have significantly decreased our SG&A
        expenses due to strict cost controls.  Also, our new All Star 2000
        shoe is demonstrating solid performance and generating momentum for
        the Converse brand.  We will roll out an expanded All Star
        collection beginning with follow-up introductions during the holiday
        selling season and the All Star brand strategy will encompass the
        cross-training and children's categories by spring 1997."  

            Glenn Rupp, Chairman and Chief Executive Officer, stated,
        "Looking ahead we are taking steps to better position Converse
        within an increasingly challenging retail environment.  We are
        placing a strong emphasis on product design and development, while
        also continuing to closely manage our costs."  

            Converse Inc., the largest U.S. manufacturer of athletic shoes,
        is a leading designer, manufacturer and marketer of high quality
        athletic and leisure footwear and is a licensor of sports apparel
        and accessories that are distributed worldwide through over 9,000
        athletic specialty, sporting goods, department and shoe stores.  

            Any statements set forth above which are not historical facts
        are forward looking statements that involve certain risks and
        uncertainties that could cause actual results to differ materially
        from those in the forward looking statements.  Potential risks and
        uncertainties include such factors as the financial strength and
        competitive pricing environment of the footwear and apparel
        industry, product demand, market acceptance, the success of planned
        advertising, marketing and promotional campaigns, and other risks
        identified in documents filed by the Company with the Securities and
        Exchange Commission.

                          CONVERSE INC. AND SUBSIDIARIES
                 (Dollars in thousands, except per share amounts)
                                                Three Months Ended
                                          April 1, 1995   March 30, 1996
        Net sales                                 $131,196     $ 86,551
        Cost of sales                               85,527       64,934
        Gross profit                                45,669       21,617
        Selling, general and administrative
         expenses                                   31,888       26,306
        Royalty income                               3,303        4,928
        Earnings from operations                    17,084          239
        Interest expense                             2,951        3,837
        Other (income) expense, net                     68          877
        Earnings (loss) before income tax           14,065       (4,475)
        Income tax expense (benefit)                 5,556       (1,215)
        Net earnings (loss)                       $  8,509     $ (3,260)
        Net earnings (loss) per share             $   0.51     $  (0.20)
        Weighted average number of common
         shares                                     16,692       16,692

                              CONVERSE INC. AND SUBSIDIARIES
                     (Dollars in thousands, except per share amounts)
                                               December 30   March 30,
                                                  1995         1996   
        Current assets:
        Cash and cash equivalents              $   2,738     $   2,276   
        Restricted cash                              443           448
        Receivables, less allowances or
         $2,237 and $1,614 respectively           61,688        77,402     
        Inventories                               81,903        81,682   
        Refundable income taxes                   11,377         --   
        Prepaid expense and other current
         assets                                   21,059        23,070
          Total current assets                   179,208       184,878   
        Assets held for sale                           3,066         3,066
        Net property, plant and equipment             15,521        16,125
        Other assets                                  26,712        26,141
                                                $224,507      $230,210          
           Liabilities and Stockholders' Equity
        Current liabilities:
        Short term debt                           13,906        14,957   
        Current maturities of long-term debt       6,324         5,322
        Accounts payable                          34,208        40,257   
        Accrued expenses                          33,295        30,583
        Income taxes payable                       1,795         2,705   
          Total current liabilities               89,528        93,824
        Long-term debt, less current maturities      112,824       118,098
        Current assets in excess of reorganization
         value                                        34,454        33,935
        Deferred postretirement benefits other
         than pensions                                10,386        10,315
        Stockholders' equity (deficiency):
        Common stock, $1.00 stated value,
         50,000,000 shares authorized,
         16,692,156 shares issued and
         outstanding at December 30, 1995
         and March 30, 1996                       16,692        16,692
        Preferred stock, no par value,
         authorized 10,000,000 shares,
         none issued and outstanding                  --            --   
        Additional paid in capital                 3,528         3,528   
        Retained earnings (deficit)              (41,830)      (45,090)  
        Foreign currency translation adjustment   (1,075)       (1,092)  
         Total stockholders' equity (deficiency) (22,685)      (25,962)   
                                                $224,507      $230,210
        CONTACT: Converse Inc.
                 Investor Contact: Donald J. Camacho
                                   Chief Financial Officer
                    Media Contact: Jennifer Murray
                                   Director of Corporate Communications
                 Morgen-Walke Associates
                 Investor Contact: Christine DiSanto/Caroline Babbitt
                    Media Contact: Stacy Berns     

Classics International Entertainment Inc. puts dream factory
subsidiary into bankruptcy

            CHICAGO -- May 2, 1996 -- Richard Berger, chairman
        and CEO of Classics International Entertainment Inc. (CIE)
        (NASDAQ:CIEI) announced that its wholly owned subsidiary, Dream
        Factory Inc., filed a petition Thursday for relief under Chapter 7
        of the Bankruptcy Code in the United States Bankruptcy Court for the
        Northern District of Illinois -- Eastern Division.  

            "This action will allow us to focus our energies on the
        strategic alliances being formulated under the Moondog's comic
        book/pop culture concept, as well as further development and
        licensing of the Classics Illustrated properties," said Berger. "It
        will also alleviate much of the cash pressures facing the company,
        and improve CIE's consolidated balance sheet."  

            Classics International Entertainment Inc., headquartered in
        Chicago, is also the parent company of Moondog's Inc., a chain of
        comic book and pop culture stores and departments, and First
        Classics Inc., a licenser of the Classics Illustrated library of
        graphic novels, titles and characters.  Classics International
        Entertainment Inc. is publicly traded on the Nasdaq SmallCap Market
        under the symbol CIEI.  

        CONTACT:  Classics International Entertainment Inc.
                  Jimmy Holton, 800/569-CIEI (2434)
                  Continental Capital & Equity Corp.

Forest Oil Corp. Reports First Quarter 1996 Pre-Tax Earnings

            DENVER, CO -- May 2, 1996 -- FOREST OIL
        CORPORATION(Alberta Stock Exchange:FOC NASDAQ:FOIL,FOILO ) Forest
        Oil Corporation announced today pre-tax earnings of $1.7 million in
        the first quarter of 1996 compared to a pre-tax loss of $3.2 million
        in the first quarter of 1995.  

            For the first quarter of 1996, Forest's net loss was $386,000
        and the net loss attributable to common stock after preferred stock
        dividends was $926,000 or $.04 per share, compared to a net loss of
        $3.1 million and a net loss attributable to common stock after
        preferred stock dividends of $3.7 million or $.65 per share for the
        first quarter of 1995.  

            The improved results for the first three months of 1996 were
        attributable primarily to higher prices received for natural gas,
        increased liquids production as a result of significant Canadian
        acquisitions completed in December 1995 and January 1996, and the
        contribution made by Forest's Canadian marketing and processing
        subsidiary that was also acquired in January 1996.  

            The results of operations of the principal Canadian entities
        acquired, Canadian Forest Oil Ltd.  and ProMark, are included in
        Forest's consolidated results of operations only for the two months
        of February and March, 1996.  

            Earnings from Forest's oil and gas operations (consisting of oil
        and gas sales less oil and gas production and general and
        administrative expense) were $17.4 million in the first quarter of
        1996 while marketing and processing operations earned $2.6 million.
        Oil and gas operations earned $14.9 million in 1995; there were no
        marketing and processing operations in 1995.  

            Robert Boswell, president and chief executive officer, stated,
        "The results in the first quarter reflect better than anticipated
        results from the Canadian assets acquired in December and January.
        Canadian results were enhanced by natural gas production sold into
        the northeast United States under marketing contracts which resulted
        in wellhead prices that were significantly higher than Canadian spot
        market prices.  

            "Wellhead prices in Canada averaged $1.69 per mcf versus an
        average spot market price of approximately $1.10.  In addition, the
        Canadian gas marketing and processing operation handled
        significantly higher volumes, resulting in increased operating

            Oil and gas sales revenue increased 24 percent to $27.7 million
        in the first quarter of 1996 from $22.2 million in the first quarter
        of 1995.  Production volumes for natural gas were approximately the
        same in the first three months of 1996 and 1995 while the average
        sales price received for natural gas in the first quarter of 1996
        increased 8 percent compared to the average sales price received in
        the corresponding 1995 period.  

            Production volumes for liquids (consisting of oil, condensate
        and natural gas liquids) were 79 percent higher in the first quarter
        of 1996 than in the first quarter of 1995 as a result of reporting
        two months of production volumes from the Canadian acquisitions.
        The average sales price received by Forest for its liquids
        production during the first three months of 1996 was approximately
        the same as the price received during the comparable 1995 period.  

            Oil and gas production expense of $7.5 million in the first
        quarter of 1996 increased 41 percent from $5.3 million in the
        comparable period of 1995 due primarily to acquisition of Canadian
        properties.  On a per unit basis, production expenses were $.57 per
        mcfe during the first quarter of 1996, an increase of approximately
        20 percent compared to amounts incurred during the first quarter of
        1995.  The increase is due to higher per-unit costs in the United
        States where fixed costs are being allocated over a lower production

            In addition, there are several fields where operating costs are
        being incurred in order to hold leases pending completion of capital
        projects; recording these production costs concurrently with
        disproportionately low production volumes caused reported production
        costs to increase by approximately $.03 per mcfe.  

            Total overhead costs, including amounts related to exploration
        and development activities, of $4.5 million in the first quarter of
        1996 increased 20 percent from $3.7 million in the comparable period
        of 1995.  The increase is due to the addition of Canadian
        operations, which increased Forest's salaried workforce to 184 at
        March 31, 1996 compared to 115 at December 31, 1995.  

            Interest expense of $5.8 million in the first quarter of 1996
        was comparable to the amount recorded in the first quarter of 1995.
        Depreciation and depletion expense increased 5 percent to $12.9
        million in the first quarter of 1996 from $12.3 million in the first
        quarter of 1995.  

            On a per-unit basis, depletion expense was approximately $.96
        per mcfe in the first three months of 1996 compared to $1.07 per
        mcfe in the corresponding 1995 period.  The decrease in per unit
        depletion expense is the result of first quarter discoveries of oil
        and gas in the U.S.  and the lower than average cost of reserves
        acquired in Canada.  

            Robert Boswell commented, "In addition to better than
        anticipated results in Canada, Forest had a very successful drilling
        program in the Gulf of Mexico in the first quarter.  Initial
        production from some of these Gulf discoveries should begin in the
        third quarter of 1996.  The Federal offshore lease sale in April was
        very strong, both in the number of participants and amounts paid for
        leases, demonstrating the value of our existing Gulf of Mexico
        position.  In addition, the value of existing developed leases in
        the Gulf of Mexico has increased dramatically in the last year.
        Forest's backlog of projects in the Gulf, combined with its existing
        infrastructure and databases, leaves us well-positioned to provide
        attractive returns on the capital employed."  

            Income tax expense increased to $2.1 million in the first
        quarter of 1996 from zero a year ago.  The increase is due to income
        tax expense resulting from Canadian operations.  Forest's U.S.
        operations remain in a non-taxable position.  

            Forest Oil Corporation is engaged in the acquisition,
        exploration, development, production and marketing of natural gas
        and crude oil in North America.  Forest's principal reserves and
        producing properties are located in the Gulf of Mexico, Texas,
        Oklahoma and Canada.  Forest's common and preferred stocks are
        traded on the Nasdaq National Market tier of The Nasdaq Stock Market
        under the FOIL and FOILO symbols, respectively.  

                                FOREST OIL CORPORATION                
                         Condensed Consolidated Balance Sheets        
                                         March 31,   Dec. 31,         
                                           1996       1995            
                                               (In Thousands)
        Current assets:                                                   
          Cash and cash equivalents          $ 5,437     3,287            
          Accounts receivable                 45,867    17,395            
          Other current assets                 3,740     2,557            
              Total current assets            55,044    23,239
        Net property and equipment, at cost  416,635   277,599
        Investment in affiliate               11,499    11,301
        Other assets                          40,060     8,904            
                                        --------  --------            
                                        $523,238   321,043            
        AND SHAREHOLDERS' EQUITY                              
          Cash overdraft                     $ 3,389     2,055            
          Current portion of long-term debt    1,820     2,263            
          Current portion of gas balancing                                
           liability                           4,000     4,700            
          Accounts payable                    45,810    17,456            
          Accrued interest                     1,974     4,029            
          Other current liabilities            3,332     1,917            
              Total current liabilities       60,325    32,420
        Long-term debt                       198,306   193,879
        Gas balancing liability                4,127     3,841
        Other liabilities                     24,268    23,298
        Deferred revenue                      12,211    15,137
        Deferred income taxes                 33,476
        -            Minority interest                      8,247     8,171
          Preferred stock                     24,345    24,359            
          Common stock                         2,453     1,066            
          Capital surplus                    373,067   241,241            
          Common shares to be issued in debt                              
           restructuring                           -     6,073            
          Accumulated deficit               (217,881) (217,495)           
          Foreign currency translation           294    (1,407)           
          Treasury stock, at cost                  -    (9,540)           
          Total shareholders' equity     182,278    44,297            
                                        --------  --------            
                                        $523,238   321,043            
                             FOREST OIL CORPORATION                   
                        Condensed Consolidated Statements             
                          of Production and Operations                
                                         Three Months Ended           
                                          March 31, March 31,         
                                            1996      1995            
                                  (In Thousands Except Production     
                                        and Per Share Amounts)        
         Gas (mmcf)                            9,242     9,297
        Oil, condensate and natural gas liquids                           
         (thousands of barrels)                  623       349            
        OF CONSOLIDATED OPERATIONS                             
           Marketing and processing          $32,747        70            
           Oil and gas sales:                                             
        Gas                               17,934    16,735            
        Oil, condensate and natural                                   
         gas liquids                       9,725     5,504            
          Total oil and gas sales         27,659    22,239            
           Miscellaneous, net                    464        52            
          Total revenue                   60,870    22,361            
           Marketing and processing           30,179         -            
           Oil and gas production              7,487     5,309            
           General and administrative          2,730     2,100            
           Interest                            5,797     5,794            
           Depreciation and depletion         12,938    12,309            
          Total expenses                  59,131    25,512            
         Income (loss) before income taxes     1,739    (3,151)           
         Income tax expense (benefit):                                    
           Current                             1,114        (7)           
           Deferred                              966         -            
                                           2,080        (7)           
         Minority interest in earnings                                    
          of subsidiary                           45         -            
         Net loss                            $  (386)   (3,144)
        Weighted average number of common                                 
         shares outstanding                   20,628     5,647
        Net loss attributable to                                          
         common stock                        $  (926)   (3,684)
        Primary and fully diluted loss                                    
         per common share                    $  (.04)     (.65)           
                                FOREST OIL CORPORATION                
                      Selected Production and Price Information       
                                                Three Months Ended    
                                         March 31,         March 31,  
                                             1996              1995   
                      United States   Canada   Total   United States  
          Natural Gas                                                     
           Total production                                               
        (MMCF)            6,425        2,817   9,242      9,297       
           Sales price received                                           
        (per MCF)        $ 2.36         1.69    2.16       1.61       
           Effects of energy swaps                                        
        (per MCF)          (.31)           -    (.22)       .19       
           Average sales price                                            
        (per MCF)        $ 2.05         1.69    1.94       1.80       
          Oil and condensate:                                             
           Total production                                               
        (MBBLS)             236          298     534        334       
           Sales price received                                           
        (per BBL)        $17.12        17.60   17.16      16.21       
           Effects of energy swaps                                        
        (per BBL)         (1.19)        (.41)   (.53)      (.41)      
           Average sales price                                            
        (per BBL)        $15.93        17.19   16.63      15.80       
          Natural gas liquids:                                            
           Total production                                               
        (MBBLS)              17           72      89         15       
           Average sales price                                            
        (per BBL)        $ 9.06         9.58    9.48      15.50       
          Total liquids production                                        
           (MBBLS)              253          370     623        349       
          Average sales price                                             
           (per BBL)         $15.46        15.71   15.61      15.79       

        CONTACT:  Forest Oil Corp.
                  Zack Hager, 303/812-1610


            ELKIN, N.C., May 2, 1996 - href="chap11.brendle.html">Brendle's Incorporated
        (Nasdaq: BRDL) announced today that it received bankruptcy court
        approval for its $25 million DIP revolving credit loan facility.
        The DIP loan is provided by Foothill Capital Corp., the Company's
        pre- petition secured lender.  The terms of the loan call for the
        maximum borrowing availability to be reduced to $15 million by June
        2, 1996. This reduction is in line with the Company's request when
        it negotiated the loan with Foothill.  The loan will be used first
        to retire Foothill's pre-petition secured loan and second, to the
        extent necessary, by Brendle's to support its operations.

            The primary purpose of the DIP loan is to provide its trade
        vendors with a financial "backstop" to the trade credit the Company
        anticipates will be extended to it during the reorganization

            Judge William L. Stocks, who is overseeing the reorganization
        proceeding in the Middle District of North Carolina, also approved
        going- out-of-business sales in 18 stores and the retention of
        Schottenstein- Bernstein Capital Corporation as agent for the
        Company in the liquidation of the inventory in those stores.  The
        Company previously announced the closure of these 18 stores as part
        of its strategic repositioning.  The Company will use the sale
        proceeds not only to retire the outstanding balance on the DIP
        revolving credit line but to partially fund the plan of
        reorganization it expects to negotiate with its creditors.

            The Company also announced that year-to-date through April 20,
        comparable store sales increased 9.0 percent over last year.
        Business is up across all of the Company's core merchandise
        categories which include jewelry, for the home, giftware, party
        goods, personal health and fitness.

        CONTACT:  David Renegar, Chief Financial Officer, 910-526-6511, or
        Andrew G. Barnett, 910-526-6614 or 212-891-6090, Brendle's


            CHICAGO, May 2, 1996 --         href="Mayer," target=_new>">Mayer,Brown & Platt today
        announced that it has reached a settlement of  civil litigation
        brought against the law firm by the trustee in the bankruptcy of
        Bonneville Pacific Corp.

            The settlement removes Mayer, Brown & Platt as a defendant in
        the civil action entitled Segal v. Portland General et al., now
        pending in U.S. District Court in Utah.  The agreement calls for the
        firm to pay Bonneville Pacific $30 million, plus the possibility of
        an additional $3.5 million if certain conditions in the settlement
        agreement are fulfilled.  All of the settlement is covered by
        insurance, and is conditioned on approval by the U.S. District and
        Bankruptcy Courts.

            "The firm denies that it has any liability in this matter, but
        we made a painful, sensible business decision," said Debora de
        Hoyos, managing partner of Mayer, Brown & Platt.

            The Mayer, Brown & Platt law firm, founded in 1881, is
        headquartered in Chicago and comprises 650 attorneys in Chicago,
        Berlin, Brussels, Houston, Los Angeles, New York and Washington.

        CONTACT:  Tim Metz of Abernathy MacGregor Scanlon, 212-371-5999 or,
        after 7:30 p.m., 212-628-2886


            ATLANTA, May 2, 1996 - Anacomp,
today filed a 14D-9
        with the Securities and Exchange Commission regarding the recent
        tender offer by Questor Partners Fund, L.P.  Questor announced on
        April 19, 1996 that it was seeking to purchase 15% to 44% of new
        common stock that Anacomp will issue when it emerges from Chapter 11

            Anacomp's creditors and preferred stockholders currently are
        voting on a plan of reorganization that provides for the company's
        current debt and accrued unpaid interest and dividends (including
        preferred stock) to be reduced by approximately $175 million.
        Ballots must be cast by May 8, 1996.  The U.S. Bankruptcy Court in
        Delaware has scheduled a confirmation hearing on Anacomp's
        reorganization plan for May 17, 1996.

            A disclosure statement describing the plan of reorganization was
        approved by the Delaware court in March.  That statement contains an
        estimate of the company's value after reorganization ranging from
        $300 million to $400 million.  The Questor offer of $7.75 a share
        values the company within that range.  The company has no other
        information to assist prospective holders of its new stock in
        determining whether to accept Questor's tender offer, and
        accordingly Anacomp has decided to remain neutral and express no
        opinion on whether prospective holders should accept the offer.

            "We're obviously pleased that a respected investment firm like
        Questor is confident about Anacomp's prospects, even before we
        officially emerge from Chapter 11," noted P. Lang Lowrey, Anacomp's
        president and chief executive officer.  "Questor's tender offer
        gives Anacomp's subordinated debt holders the opportunity to sell
        their to-be- issued stock now within the tender offer terms."

            Anacomp is a leading provider of multiple-media data management
        solutions, delivering cost-effective strategies that incorporate
        micrographic, digital, and magnetic output media.

        CONTACT:  Jeff Withem, Corporate Communications, 404-876-3361,
        Ext. 8527; or E-mail:; or Nancy Vandeventer,
        Investor Relations, 800-350-3044; or E-mail:, both of Anacomp