Exhibit 99


Core Industries Inc
500 North Woodward
P. O. Box 2000
Bloomfield Hills, MI 48303-2000
Telephone:        (810) 642-3400
FAX:              (810) 642-6816

                                                                    NEWS RELEASE

FOR IMMEDIATE RELEASE                           Contact:  Raymond H. Steben, Jr.
December 15, 1995                                                 (810) 901-1575

                     CORE INDUSTRIES ACQUIRES CMB INDUSTRIES

Core  Industries  Inc (NYSE:  CRI),  an  expanding  industrial  manufacturer  of
specialized products, today announced the acquisition of CMB Industries Inc. CMB
is a privately held producer of specialty valves,  which further broadens Core's
growing product line of specialty  valves.  CMB, located in Fresno,  California,
has annual revenues of approximately $30 million. CMB stock was purchased with a
combination of debt and approximately  857,000 shares of Core common stock. Core
management  expects  the  acquisition  to be slightly  accretive  to fiscal 1996
earnings.

CMB manufactures proprietary Febco backflow prevention valves and Bailey Polyjet
sleeve  valves.  Backflow  prevention  valves  are  used  in a wide  variety  of
commercial and industrial  applications  to ensure the quality of potable water.
Sleeve valves are used in high-pressure reducing applications. CMB will continue
to  operate  with  its  existing  management  while  certain  functions  will be
integrated with Core's Fluid Control Group (CFCG), led by Robert Whritenour.

David R.  Zimmer,  Core's  President  and  Chief  Executive  Officer,  said "The
acquisition  of CMB,  and our  recently  announced  intent  to  discontinue  the
Cherokee switching power supply business, represent two significant steps in our
strategic  plan to enhance  Core's  focus  businesses  of fluid  control;  test,
measurement  and control;  and farm  equipment.  The  addition of CMB  fortifies
CFCG's position as a leading supplier to the specialty flow control market. Over
the past two  years,  we have been  aggressively  expanding  this  aspect of our
business and are extremely pleased with its progress."

"CMB's market position as the second-largest manufacturer of backflow prevention
valves in the world  and the  leading  producer  of  sleeve  valves  makes it an
excellent  addition  to the Core Fluid  Control  Group,"  commented  Lawrence J.
Murphy,  Core's Executive Vice President  responsible for acquisitions.  "CFCG's
specialty  flow control  products  and cast and  fabricated  strainers  are sold
through similar  distribution  channels to similar industrial and commercial end
users.  We were attracted to CMB because of its outstanding  reputation,  strong
and capable  management,  financial  growth  opportunities,  and the benefits we
perceive in combining their marketing and product development efforts with those
of CFCG."



For fiscal 1995,  which ended August 31, Core  Industries  reported  income from
continuing  operations of $10.7 million,  or $1.09 per share, on sales of $187.9
million.  The  company  expects to report  fiscal 1996 first  quarter  financial
results by December 20, 1995.

Core Industries Inc manufactures  specialty  products for three segments:  Fluid
Control and Construction Products;  Test, Measurement and Control; and Specialty
Farm Equipment.