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CHAMBERS' BOARD NAMES NEW DIRECTOR

 PITTSBURGH, Aug. 5 /PRNewswire/ -- Peter J. Gibbons, a retired senior partner from Price Waterhouse, has been appointed to serve on Chambers Development Company, Inc.'s (AMEX: CDVA, CDVB) board of directors until the company's shareholders' meeting later this year, it was announced today.
 Gibbons was also nominated to be elected by the shareholders for a two-year term.
 Gibbons, 57, has more than 32 years of public accounting and auditing experience with Price Waterhouse, independent accountants, primarily in Philadelphia. He has industry experience, both domestic and abroad, in manufacturing, financial institutions, governmental units and health care.
 As part of Gibbons' recent Price Waterhouse experience, he led the team that was engaged by Chambers' major lenders to review the company's financial condition and business plans in conjunction with the lenders working out a new long-term financial arrangement. This review was an important component to the lenders as part of the process by which they evaluated Chambers' current position and potential.
 Gibbons joined Price Waterhouse in 1961, became a CPA in 1964 and was admitted to partnership in 1973. He has more than 13 years of experience with financial restructuring and reorganization. In addition, as Price Waterhouse's lead technical specialist, he had nationwide responsibility for restructuring services for more than 10 years.
 "We are extremely pleased to add a person of Mr. Gibbons' professional and personal stature to Chambers' board of directors," John G. Rangos Sr., Chambers' president and CEO, said in announcing Gibbons' appointment.
 "Mr. Gibbons' demonstrated integrity and outstanding record of performance will complement Chambers' goals of improving its financial performance and remaining an environmental leader in the waste industry," he said.
 "I'm pleased to be appointed to Chambers' board," Gibbons said. "I obtained a thorough familiarity with the company through my service to the lender group and was pleased that the lenders reached a satisfactory financial arrangement. I am pleased with the company's actions and business plan and look forward to serving on its board of directors."
 Gibbons graduated magna cum laude from LaSalle University in 1961 with a bachelor's degree in accounting.
 Presently, he is chairman of the board and a former three-term president of The Association of Reorganization Accountants; a member of the Task Force on Financial Reporting by Entities in Reorganization, Accounting Standards Executive Committee (AcSec) of the American Institute of Certified Public Accountants; and a member of the Pennsylvania Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.
 He has three children and resides with is wife, Joanne, in Ambler, Pa., a suburb of Philadelphia.
 Chambers Development Company, Inc., headquartered in Pittsburgh, is a leading environmental services firm involved in landfill, transfer station and recycling operations, as well as the collection, transportation and disposal of residential, commercial, non-hazardous industrial and medical wastes.
 -0- 8/5/93
 /CONTACT: media, Jim Leonard, 412-244-7560, or financial, Lew Nevins, 412-244-6195, both of Chambers Development/
 (CDV)


CO: Chambers Development Company, Inc. ST: Pennsylvania IN: ENV SU: PER

KC-DB -- PG001 -- 9682 08/05/93 08:26 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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