WAYNE, N.J.--March 22, 1995--The Grand Union
Co. announced
today that it had filed an amended plan and disclosure statement with the U.S.
Bankruptcy Court in Delaware.  A representative of the company stated "the
amended plan represents the substantial progress we have made in negotiations
with our creditor groups.  The company is pleased with the progress to date
and believes that this filing will enable the company to adhere to the
accelerated schedule for emergence from Chapter 11 to which we are
committed."

A hearing to approve the amended disclosure statement is scheduled for April
6, 1995.

           CONTACT: The Grand Union Co., Wayne,
New Jersey,  
             Donald C. Vaillancourt, 201/890-6100

  NEW YORK, N.Y.--March 22, 1995--The General Partners of href="chap11.gold.html">Gold
Company of America announced today that they intend to make the first
liquidating distribution in connection with the previously announced proposed
liquidation of the company during the second quarter of 1995 and that the
record date for investors who will be entitled to receive liquidation proceeds
distributed prior to July 1, 1995 will be April 1, 1995.  The General Partners
currently anticipate that gold on hand, having a current market value of
approximately $1,098,662 based on the closing COMEX spot price on March 20
1995, will be distributed during the initial three month period.  The record
date for investors who will be entitled to receive liquidation proceeds
distributed in subsequent calendar quarters will be the first day of each such
quarter.

    CONTACT: Chet Piskorowski, 212/214-1339