PARTNERS CALL GENCORP &lt;GY> RESPONSE UNPRODUCTIVE

  General Acquisition Co said it was
  disappointed by Gencorp's response to its tender offer and
  asked how the company might give better value to shareholders.
      Gencorp had earlier urged shareholders to reject a 100 dlr
  per share tender offer from General Acquisition, an affiliate
  of Wagner and Brown and AFG Industries Inc, and said it was
  studying financially superior alternatives.
      The General Acquisition partnership called the response
  inflammatory and unproductive, particularly since it had tried
  to discuss the offer with Gencorp.
      The partnership said Gencorp failed to say how it would
  provide a "superior value yet they continue their attempt to
  prevent a satisfactory offer by failing to redeem their poison
  pill." Poison pills are shareholder rights plans that make
  takeovers more expensive.
      Gencorp said in its statement earlier that it planned to
  put off the date its rights will trade separately from the
  common stock to April 6 from April 3. It said the extension was
  subject to further extensions by the board and is conditional
  on no person acquiring beneficial ownership of 20 pct or more
  of Gencorp before April 6.
      General Acquisition said it is confident its offer can be
  completed in a timely manner using its financial arrangements.
      The partnership in its statement again urged Gencorp
  management to work with it to facilitate a transaction.
  

