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CHAMBERS DEVELOPMENT COMPANY ISSUES STATEMENT

 CHAMBERS DEVELOPMENT COMPANY ISSUES STATEMENT
 PITTSBURGH, March 31 /PRNewswire/ -- Chambers Development Company,


Inc. (AMEX: CDVA CDVB), responded today to continued unsubstantiated reports of insider trading in Chambers' stock during the period preceding Chambers' announcement on March 17, 1992, of a change in accounting method which reduced its earnings per share.
 Chambers is conducting an internal investigation of any trading in the company's stock during the period leading up to March 17, and can state categorically, that there has been no evidence that any officer or director sold Chambers stock, sold short Chambers stock, or traded in put options during the period in which the change in accounting method was being considered. In fact, during February and March 1992, the only transaction by any of the company's officers or directors was a purchase of stock by one of Chambers' outside directors.
 The company is cooperating fully with the Securities and Exchange Commission in the SEC's inquiries into the trading, and is continuing its internal investigation.
 Chambers Development Company, Inc., headquartered in Pittsburgh, is a leading environmental firm offering services in landfill development, transfer station operation and recycling, as well as the collection, transportation and disposal of residential, commercial and non-hazardous industrial and medical solid wastes.
 -0- 3/31/92
 /CONTACT: Jim Leonard of Chambers Development Company, 412-244-7560/
 (CDV) CO: Chambers Development Company, Inc. ST: Pennsylvania IN: SU:


CD-JT -- PG013 -- 3556 03/31/92 16:12 EST
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Publication:PR Newswire
Date:Mar 31, 1992
Words:235
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