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COLUMBIA GAS COMPANIES SEEK BANKRUPTCY COURT APPROVAL TO EXTEND EXCLUSIVITY PERIODS

 WILMINGTON, Del., Nov. 12 /PRNewswire/ -- The Columbia Gas System, Inc. (NYSE: CG) and Columbia Gas Transmission Corp., its principal pipeline subsidiary, have filed a motion with the U.S. Bankruptcy Court for the District of Delaware seeking to extend until March 22, 1994, the period during which they have exclusive rights to file Chapter 11 reorganization plans. The current period expires Nov. 22.
 Both companies have been developing proposals for reorganization with their advisers and meeting with representatives of their official committees to seek solutions to the complex issues involved in the proceedings. The motion states that a reorganization plan for Columbia Transmission is being finalized and is expected to be filed before the end of the requested 120-day extension period. Since the structure of Columbia Transmission's plan will affect the parent company's plan, it is anticipated that the parent company's reorganization plan would be filed after Columbia Transmission's plan.
 The Columbia Gas System, Inc., and Columbia Gas Transmission Corp. have been operating as debtors-in-possession under Chapter 11 of the U.S. Bankruptcy Code since July 31, 1991. The Bankruptcy Court has granted seven previous requests by the companies to extend exclusivity.
 /delval/
 -0- 11/12/93
 /CONTACT: W.R. McLaughlin (media), 302-429-5443, or T.L. Hughes (analysts), 302-429-5363, of Columbia Gas/
 (CG)


CO: The Columbia Gas System, Inc. ST: Delaware IN: OIL SU:

MJ-MP -- PH014 -- 3724 11/12/93 13:29 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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