Date: Fri, 29 Jul 1994 17:49:39 -0400
Subject: Update on Publisher Payments for 94 and Assurances for 95
From:  Judy Davis, President; Michael Markwith, Director of Sales

This memo is to update everyone on the progress we have made to stabilize the
Faxon Company as we promised.

As of today, July 29, Faxon has made arrangements to pay the publishers in FULL
for all outstanding 1994 promisory notes.  We began to wire-transfer funds
today for the 1994 payments. The transactions will be completed shortly.

The publishers involved are drafting a letter of support for Faxon to express
their commitment to work with us to handle your 1995 subscriptions.  This
letter of Publisher Assurance is expected by August 5 and will be shared with
you immediately.

It is business as usual at Faxon.  We appreciate the loyalty and support of
our clients and assure you that subscription service for 1995 will in no way be
jeopardized or interrupted by the events of the past year.

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 Michael Markwith                 Voice:  804-320-7837; 800-999-3594 x258
 Director of Sales                Fax:  804-320-2213; 800-933-6831
 Faxon Company                    Email:  markwith@faxon.com

       "If you want peace you must work for justice"

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