EXHIBIT 99.2


                          Investor Contact and Media Contact
FOR IMMEDIATE RELEASE     Jack A. Green, Senior Vice President
                          Administration, General Counsel and Secretary
                          978/664-7577


                CVEO CORPORATION ANNOUNCES STATUS OF BANKRUPTCY

          North Reading, MA, August 8, 2001 - CVEO Corporation, formerly known
as Converse Inc., announced today that it continues to sell its remaining assets
under the supervision of the U.S. Bankruptcy Court in Delaware.  No
determination has been made as to when a distribution will be made to unsecured
creditors or the amount thereof.

          As previously disclosed, the Company does not expect any distribution
or payment to holders of common stock as a result of the liquidation.

                                *      *      *

          This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.  Words such as
"expect," "believe," "intend" and words or terms of similar substance used in
connection with any discussion of future events identify forward-looking
statements.  All forward-looking statements are management's present
expectations of future events that are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements.

                                      12