CONVERSE CREDITORS LOOKING FOR A $4M SETTLEMENT

     Converse, Inc. is being asked to pay $4M as part of a
proposed settlement with unsecured creditors of Apex One Inc.,
according to the BOSTON HERALD.  The proposal comes as part of
the Chapter 11 plan filed Friday by Apex One in federal
bankruptcy court.  Converse officials had no comment on the
settlement or its possible impact on earnings.  The settlement,
which is subject to approval by Apex One's unsecured creditors
and the court, asks for a payment of $4M by Converse to the Apex
Estate, and the relinquishment of any claims against the Apex
Estate.  Under the pending deal, Converse would be granted a
release from all claims that may be held by the estate and
individual creditors of Apex.  The settlement will not affect the
outstanding litigation between Converse and the sellers of Apex
One (Steff Gelston, BOSTON HERALD, 6/29).  Converse CFO Donald
Camacho said the company never put Apex up for sale because "its
liabilities were enormous, and its net worth was negative and
increasing every day" (BOSTON GLOBE, 6/29).