TCR_Public/960805.MBX BANKRUPTCY CREDITORS' SERVICE, INC.


Bankruptcy and Troubled Company News


August 5, 1996



  1. AMERIQUEST REDUCES THIRD-QUARTER LOSS...
  2. Presidio to be acquired by Tom Brown Inc.
  3. Zeigler/NRG, Trustee Forge Amended Cajun Agreement





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AMERIQUEST REDUCES THIRD-QUARTER LOSS FROM
YEAR EARLIER AND INITIATES FURTHER COST-REDUCTIONS


        


            SANTA ANA, Calif. -- Aug. 5, 1996 -- AmeriQuest
        Technologies, Inc. (NYSE:AQS) announced improved financial results
        for the third quarter ended June 30, 1996.  
        


            Net loss for the quarter was $8,472,000, compared to a net loss
        of $58,123,000 reported for the same period in 1995.  Loss per share
        for the quarter was $0.14, compared to a net loss of $2.85 per share
        for the same period in 1995, and includes a $2,700,000 charge for
        the relocation of the corporate headquarters.
        


            Year-to-date results also showed marked improvement.  While year-
        to-date revenues decreased to $320,953,000, compared to $367,095,000
        in the same period last year, this year's net loss of $22,440,000
        for the nine-month period ending June 30, 1996, was about one-third
        of the $66,453,000 loss for the same period in 1995.  That
        translates to a $0.59 loss per share versus a $3.28 loss per share
        for the first three quarters of fiscal year 1995.
        


            The current year-to-date loss includes a non-recurring charge of
        $3,700,000 relating to the sublease of a significant property, and
        $2,700,000 relating to restructuring costs associated with the
        headquarters move.
        


            While the Company expects continuing losses, senior management
        expects them to substantially diminish during the next fiscal year.
        


            "AmeriQuest has taken the difficult steps needed to put us on
        the road toward profitability," says AmeriQuest Chairman and Chief
        Executive Officer Steve DeWindt, "and the continued financial
        support and know-how of our majority investor, Computer 2000, will
        definitely help us complete our journey."
        


            Also, in a recent press conference, Computer 2000's parent
        holding Company, VIAG, pledged its continued support and commitment
        to the strengthening of AmeriQuest.
        


        Substantially Reduced Operating Expenses
        


            While third quarter revenue was flat at $110,983,000, compared
        to $110,907,000 in the same quarter last year, the Company reduced
        operating expenses from $51,913,000 to $14,013,000.  Overall
        operating expenses during the same period last year included a
        $23,777,000 write-off of intangibles which did not recur this year.
        Selling, general and administrative expenses also fell 59 percent
        from $28,136,000 in the third quarter of 1995 to $11,313,000.
        


        AmeriQuest Names Michael Dressen President
        


            The AmeriQuest board named Michael Dressen as president of
        AmeriQuest.  Dressen brings more than nine years of experience at
        Computer 2000, most recently as a managing director of Computer
        2000's Italian subsidiary where he was directly responsible for
        returning that Company to profitability.  
        


            Prior to his tenure in Italy, Dressen held a number of senior
        posts within Computer 2000, Germany.  Dressen now fills a position
        that has been vacant since May, when Mark Mulford's contract ended
        as President/COO of AmeriQuest.  Harry Krischik, co-chairman of
        AmeriQuest and co-president of Computer 2000 AG, stated that the
        appointment of Michael Dressen "underscores Computer 2000's
        commitment to AmeriQuest to provide experience and knowledge gained
        in other countries around the world."
        


        Headquarters Move to Florida
        


            The Company also announced plans to streamline and consolidate
        operations aimed at restoring the firm to profitability.  It is
        planned that by October 7, 1996, AmeriQuest will move the Southern
        California headquarters to existing facilities in the greater Miami,
        Florida area.  The move and the elimination of redundant operations,
        facilities and personnel is expected to reduce operating expenses
        significantly beginning in early 1997.  
        


            "By bringing our operations together in one location, we will
        not only reduce operational expenses, but should be able to improve
        communication, service and support to both customers and vendors,
        and eliminate the redundancies we have today," said DeWindt.  
        


            AmeriQuest will move purchasing, marketing and administration
        together with their extensive sales and customer service
        organization already stationed in Florida.  The consolidation is
        expected to significantly improve synergy between departments.  
        


            AmeriQuest's Advanced Systems Group will remain in its current
        location in Horsham, Pennsylvania.  Also, CMS Enhancements, Inc.,
        the AmeriQuest mass storage manufacturing subsidiary, will remain
        located at its manufacturing and distribution facilities in Anaheim,
        California.  
        


        Adds Two New Board Members
        


            In a recent board meeting Manfred Guenzel, co-president of
        Computer 2000 AG, and Richard Iverson, past President of the
        American Electronics Association, joined the seven member AmeriQuest
        board of directors, filling recently vacated positions.  
        

        
            This news release contains forward-looking statements, including
        statements as to the expectation of reducing future losses and the
        possibility of achieving future profitability.  These statements
        involve a number of risks and uncertainties.
        


            Among other factors that could cause actual results to differ
        materially are general economic and business conditions, the
        possibility that the anticipated cost reductions will not
        materialize or will adversely affect revenue and profitability, the
        rate of growth in the computer industry, competitive factors and
        pricing pressures, changes in product mix, inventory risks due to
        shifts in market demand, the effect of continued losses on the
        Company's supplier and customer relationships and the Company's
        needs for additional capital.  
        


        AmeriQuest
        


            AmeriQuest Technologies, Inc. is a distributor of advanced
        technology solutions including computer systems, peripherals,
        networking products and accessories.  AmeriQuest offers products
        from the best names in computer hardware to its customer base of
        value-added resellers throughout the United States and Latin
        America. AmeriQuest's headquarters are located in Santa Ana, Calif.
        with regional offices in Hollywood, Fla.; Miami, Fla.; and Horsham,
        Pa.  
        


            The Company distributes products nationwide through its six
        warehouses in Visalia, California; Dallas; Chicago; Philadelphia;
        Atlanta and Miami.  In addition, AmeriQuest distributes products
        throughout Latin America via an export operation located in Miami
        and Computer 2000 subsidiaries located in several Latin American
        countries.  
        


            Majority share in the publicly traded Company is owned by
        Munich, Germany-based Computer 2000 Group, the largest distributor
        of computer products in Europe and the third largest world-wide.  
        


        Computer 2000
        


            AmeriQuest's majority investor is Computer 2000 AG of Munich,
        Germany, which was founded in 1983.  In the fiscal year 1994/95
        (September 30), the Computer 2000 Group, with over 40 subsidiaries
        in more than 30 countries in Europe, USA, Latin America, Asia and
        the Middle East, reached a sales volume of almost DM 5 billion.
        This makes Computer 2000 the leading European wholesale and service
        Company for PC products and solutions and one of the three largest
        world-wide.  
        



                       SELECTED INCOME STATEMENT DATA
                           (Dollars in thousands)
        
                               Three Months Ended      Nine Months Ended
                                    June 30,                June 30,
                                1996        1995        1996         1995
        
        Net Sales               $110,983    $110,907    $320,953
        $367,095
        Net inc./
          (loss)                 ($8,472)   ($58,123)   ($22,440)(a)
        ($66,453)
        
        Earnings/
          (loss) per share        ($0.14)     ($2.85)     ($0.59)
        ($3.28)
        
        Avg. no. of shares    60,332,570  20,360,478  38,006,160
        20,248,193
        
        (a):  includes non-recurring charge of $2.7 million in the three
          months ended June 30, 1996, for moving headquarters to Florida
          and a $3.7 million charge relating to the sublease of a
          significant property in the nine months ended June 30, 1996.
        
CONTACT:  AmeriQuest
                  Peter Quill, 714/445-5119 (Press contact)
                  Peter S.H. Grubstein, 714/445-5009 (Financial contact)
                        or
                  Shafer Public Relations
                  Linda Waters, 800/503-1177 (PST)



Presidio to be
acquired by Tom Brown Inc.


        


            DENVER, CO -- Aug. 5, 1996 -- PRESIDIO OIL COMPANY
        (PRS/A) today announced that it had signed a definitive agreement to
        be acquired by Tom Brown, Inc. for $183 million (consisting of
        approximately $101 million of cash and 5 million shares of Tom Brown
        Common Stock), plus the assumption of certain liabilities.  
        


            In as much as such consideration is not sufficient to pay the
        full amount of all of Presidio's indebtedness, the transaction will
        be consummated through a Chapter 11 bankruptcy proceeding, which was
        filed today.  The transaction is anticipated to close in the fourth
        quarter of 1996.  
        


            Presidio is an independent oil and gas company engaged in
        onshore oil and gas exploration, development and production in the
        continental United States.  
        


        For further information contact Investor Relations at 212/593-2244.  
        


        CONTACT:  Presidio Oil Co., Denver
                  Investor Relations, 212/593-2244



Zeigler/NRG, Trustee Forge Amended Cajun Agreement


        


            FAIRVIEW HEIGHTS, Ill.,  --  Aug. 5, 1996  --  Zeigler Coal
        Holding Company (NYSE: ZEI) and NRG Energy, Inc., the non-regulated
        affiliate of Minneapolis-based Northern States Power Company (NYSE:
        NSP), today reported that their affiliate (Louisiana Generating LLC)
        has amended its agreement with the bankruptcy trustee to purchase
        the non-nuclear assets of Cajun Electric Power Cooperative, Inc. of
        Baton Rouge, Louisiana.
        


            According to a statement by the NRG/Zeigler team, "Our revised
        agreement with the trustee resolves concerns that could have
        prevented our participation in the plan confirmation process.  We
        are pleased that the trustee continues to believe that the
        Zeigler/NRG proposal represents the best overall option, and look
        forward to advancing our plan."
        


            The Zeigler family of companies is among the largest coal
        producers and marketers in the United States, and controls more than
        1.3 billion tons of economically recoverable coal reserves,
        including 1 billion tons of low sulfur coal.  The Zeigler family of
        companies currently operates underground and surface coal mining
        complexes in Illinois, Kentucky, Ohio, West Virginia and Wyoming.
        In addition, the company owns and operates two East Coast
        transloading terminals, a land company and a clean coal technology
        corporation.
        


CONTACT:  Vic Svec of Zeigler Coal Holding Company, 618-394-
        2430; or Mike O'Sullivan of NRG Energy, Inc., 612-373-5408/