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FARRAGUT ANNOUNCES A NEW DIRECTOR

 FARRAGUT ANNOUNCES A NEW DIRECTOR
 MANSFIELD, Mass., May 13 /PRNewswire/ -- Farragut Mortgage Company


Inc. (AMEX: FMS), announced today the appointment of Roger J. Stone, Jr., to the board of directors. Stone is recognized as one of the nation's top political and corporate media strategists. Stone has served as a political and media consultant on numerous major political campaigns during his 20-year career in American politics, which included: 1988 California campaign for Bush-Quayle; 1981 and 1985 campaign of Governor Thomas Kean of New Jersey; 1984 Eastern Regional Campaign Director for Reagan-Bush committee. Stone also worked on Capitol Hill for U.S. Senator Robert Dole, who later became Senate Majority leader, and U.S. Representative Robert Steele (R-Conn.).
 Stone is a partner in Black, Manafort, Stone and Kelly, a public affairs firm in Alexandria, Va. Black, Manafort is a Burson- Marsteller Company.
 Stone serves a member of the Amtrak Commuter Services Board and board of directors of Pietro Food Corporation of Buena, N.J. Stone was the former national chairman of the Young Republican Federation from 1977-1979.
 Farragut Mortgage Co., Inc. is engaged in the residential mortgage banking business, which involves the origination, purchase, sale and servicing of one-to-four family mortgage loans.
 -0- 5/13/92
 /CONTACT: Edward D. Lagarde, president and CEO of Farragut, 508-337-8605/
 (FMS) CO: Farragut Mortgage Company, Inc. ST: Massachusetts IN: FIN SU: PER


DH -- NE012 -- 9810 05/13/92 15:06 EDT
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Date:May 13, 1992
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