Bankruptcy and Troubled Company News

September 3, 1996

  1. Hayes Names Growth Specialist Marshall Toplansky As VP, Marketing
  2. Dynatronics Announces Fiscal 1996 Year-End Financial Results
  3. Anacomp Makes Early Debt Payment, Announces Listing of Common Stock

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Hayes Comeback Gains Momentum By Naming Growth Specialist Marshall Toplansky As Vice President, Marketing


            ATLANTA,  GA  --  Sept. 3, 1996  --  Hayes Microcomputer Products,
today appointed Marshall Toplansky to the position of Vice
        President of Marketing, rounding out the company's post-Chapter 11
        senior management team.  Mr. Toplansky, former Vice President of
        Marketing of modem manufacturer U.S. Robotics, developed key
        strategies that resulted in the explosive growth of that company.
        Most recently, he has been CEO of Core Strategies, the high
        technology growth marketing consulting firm based in Northbrook,

            "We are very excited to have Marshall join our team," commented
        Joseph Formichelli, President and CEO of Hayes.  "Our ability to
        attract experienced, talented people is critical to our continued
        turnaround.  Marshall's track record in designing growth-oriented
        programs was an important factor in selecting him to lead our
        marketing efforts."

            "Hayes is an amazingly resilient company," said Toplansky.  "It
        has successfully maintained its heritage of technological excellence
        during the most turbulent period of its 20-year history.  Since its
        emergence from Chapter 11, it has seen its market share begin to
        grow again.  The tenacity of its people, combined with new
        strategies, place Hayes in an excellent position to re-establish its
        market leadership in the rapidly growing data communications arena."

            A 1976 MBA graduate of the Harvard Business School, Toplansky
        spent the majority of his career at Ogilvy & Mather, the advertising
        and marketing services conglomerate.  After managing consumer
        packaged goods and healthcare accounts for the company, he managed
        the firm's relationship with U.S. Robotics in 1988.  As a consultant
        to the company, and later as Vice President of Marketing, he
        developed end-user and channel marketing strategies that resulted in
        the company's growing fifteen-fold.

            In January, 1996, Mr. Toplansky founded Core Strategies, a
        marketing consulting firm that specializes in developing fast growth
        sales and marketing strategies for high technology companies.

            Mr. Toplansky is a past member of the Board of Advisors of the
        Computing Technologies Industry Association, and created the
        marketing program for the launch of the organization's highly
        successful A+ Certification Program.  He also serves on the boards
        of directors of three technology companies: Distributed Bits, a
        Chicago-based JAVA application software company; SuperSite.Net, a
        Silicon Valley-based Internet service company; and Wards Creek
        Software, a Baton Rouge, LA-based vendor of employee productivity
        software products.

            Best known as the inventor of the PC modem, Hayes is recognized
        around the globe as a leader in technical innovations, computer
        communications standards, functional and feature-rich products, and
        superior support and service. Founded in 1977, Hayes develops,
        manufactures, and markets value-based computer communications
        solutions for software, business, network, and consumer market
        segments.  The company maintains an extensive global network of
        authorized distributors, dealers, mass merchants, VARs, system
        integrators and original equipment manufacturers.  Hayes customers
        include Fortune 1000 corporations, mid-size companies and corporate
        branch offices, small and home office businesses, on-line and
        telecommunications network providers, and millions of individual PC
        users around the globe.

CONTACT:  Angela Hooper, Hayes Microcomputer Products, Inc.,
        770-840-9200, ext. 6030; Fax: 770-441-1238; Internet:; or Hayes World Wide Web Site:

Dynatronics Announces Fiscal 1996 Year-End Financial Results


            SALT LAKE CITY,  UT  --  Sept. 3, 1996  --  Dynatronics Corporation
        (Nasdaq: DYNT) today announced results of its 1996 fiscal year ended
        June 30, 1996.  Sales for the year increased 11% to $6,784,748 as
        compared to $6,112,241 for the previous year.  Over the course of
        the fiscal year, the Company recognized $720,103 in non-operating
        charges in connection with the bankruptcy of ITEC Attractions, a 36%
        owned affiliate of the Company.  The recognition of these charges
        fully expenses all costs associated with the investment in ITEC.
        During the fourth quarter, the Company also booked a charge of
        $183,101 related to the write-off of certain obsolete inventories.
        The combination of these non-recurring charges resulted in a net
        loss for fiscal 1996 of $193,892 as compared to net income of
        $217,083 in fiscal 1995.

            President Kelvyn H. Cullimore Jr. stated: "We are disappointed
        that these non-recurring charges related to ITEC, and the obsolete
        inventory mask what was otherwise a very profitable year from
        operations.  Exclusive of these charges, net income for fiscal 1996
        increased 50% over fiscal 1995."

            Cullimore continued, "On a positive note, we are pleased to
        report that since the acquisition of Superior Orthopaedics on May 1,
        1996, overall Company sales are up more than 35%.  In addition, the
        recent announcement of Dynatronics' appointment as the exclusive
        distributor to the domestic physical therapy market for Life-Tech's
        iontophoresis products broadens our product line and should increase
        sales another 5-10% in the coming year.  The introduction of several
        other new products in the first and second quarter of fiscal 1997
        will further strengthen our position in the market.  With net
        profits up 50% in fiscal 1996 exclusive of the non-recurring
        charges, and with current sales growth exceeding 35%, we remain very
        optimistic about the future.

        Results for fiscal 1996 compared to the previous year are as follows:

                                                  Fiscal Year Ended
                                                     June 30
                                            1996                    1995
        Net Sales                    $6,784,748              6,112,241
        Gross Profit Margin           2,901,847              2,594,165
        Operating income                262,927                322,551
        Other income (expense)       (689,793)..                 37,019
          ..Includes ITEC charge
           of $720,103
        Income before income taxes    (426,866)                359,570
        Income tax expense (benefit)  (232,974)                142,487
        Net income (loss)            $(193,892)                217,083
        Net income (loss) per share      $(.02)                    .O3

            Dynatronics designs, manufactures, and markets advanced-
        technology medical devices.  In addition, the Company manufactures
        medical supplies and disposables through its newly acquired Superior
        Orthopaedics division.

CONTACT:  Mr. Bob Cardon, Corporate Secretary of Dynatronics Corp.,

Anacomp Makes Early Debt Payment, Announces Listing of Common Stock


            ATLANTA,  GA  --  Sept. 3, 1996  --          expense, signals Anacomp's strong financial health post-bankruptcy,"
        noted Donald L. Viles, Anacomp's recently appointed chief financial
        officer.  "We've repaid almost one-fifth of our senior debt since
        exiting Chapter 11 just three months ago."  Viles said the Company
        expects to continue to make early principal payments on its senior

            "These debt pre-payments are part of Anacomp's overall financial
        strategy to increase shareholder value," commented P. Lang Lowrey,
        Anacomp's chairman, president, and chief executive officer.  "The
        payments contribute to our goal of deleveraging the company's
        balance sheet, and this remains an important focus.  At the same
        time, we have implemented plans to generate additional capital
        resources for new investments, including the acquisition of
        companies and technologies.  And, as always, we continue to put
        strong emphasis on managing the business for cash."

            In other developments, Anacomp also announced today that its
        common stock is now listed on the Nasdaq National Market.  The
        company's trading symbol is ANCO.  In addition, the company said it
        expects to announce further details of its anticipated rights
        offering within the next two weeks.

            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 email,; or Nancy Vandeventer, Investor
        Relations, 800-350-3044, or email,, both of Anacomp,