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GREEN TREE FINANCIAL CORPORATION ANNOUNCES RECORD THIRD QUARTER RESULTS

 ST. PAUL, Minn., Oct. 14 /PRNewswire/ -- Green Tree Financial Corporation (NYSE: GNT) today reported that third quarter 1993 net earnings rose 40 percent to a record $32,320,000, or $1.02 per share. These results compare with net earnings of $23,097,000, or $.76 per share, in the same quarter of 1992.
 For the first nine months of 1993, net earnings were $83,568,000, or $2.66 per share, compared with $55,522,000, or $1.87 per share, last year before the Company's 1992 extraordinary loss on debt exchange.
 Third quarter 1993 and nine month income also set records. Third quarter income increased to a record $98,925,000 from $66,302,000 last year while nine month 1993 income was $248,183,000 compared with $178,909,000 for the first nine months of 1992.
 In the third quarter, Green Tree's loan originations increased 125 percent to $814 million compared with $362 million in the third quarter of 1992. Loan production was strong in all segments with manufactured home loan originations increasing 125 percent compared with the third quarter of 1992; home improvement loans increasing 159 percent and special products lending increasing 32 percent. For the nine months, Green Tree's loan production increased 98 percent to $1,850,758,000 compared with $935,500,000 in 1992.
 Lawrence M. Coss, chairman and chief executive officer, said, "We are gratified with the results and with the strength that the markets we serve are showing. The Company's strong earnings performance together with our successful third-quarter common stock sale increased shareholder's equity to approximately $520 million at September 30. This is a solid financial platform from which we can continue to grow and build the business."
 Green Tree Financial Corporation makes loans to individuals in the 48 contiguous states for manufactured homes, home improvements and special products. Green Tree currently services approximately 387,000 contracts totaling $6.7 billion in outstanding principal balances. Green Tree's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "GNT".
 GREEN TREE FINANCIAL CORPORATION
 CONSOLIDATED STATEMENT OF EARNINGS
 (unaudited)
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 INCOME:
 Net gains on contract
 sales $86,233,000 $51,277,000 $201,478,000 $172,062,000
 Provision for
 losses on
 contract sales (32,361,000)(18,031,000) (68,913,000) (87,477,000)
 Interest 31,650,000 20,524,000 77,674,000 57,738,000
 Service 8,006,000 7,216,000 22,738,000 22,016,000
 Commissions and
 other 5,397,000 5,316,000 15,206,000 14,570,000
 -- 98,925,000 66,302,000 248,183,000 178,909,000
 EXPENSES:
 Interest 13,841,000 10,773,000 37,667,000 33,858,000
 Cost of servicing 6,164,000 5,759,000 18,499,000 16,392,000
 General and
 administrative 17,154,000 11,907,000 46,238,000 37,640,000
 -- 37,159,000 28,439,000 102,404,000 87,890,000
 EARNINGS BEFORE
 INCOME TAXES
 AND EXTRAORDINARY
 LOSS 61,766,000 37,863,000 145,779,000 91,019,000
 INCOME TAXES 29,446,000 14,766,000 62,211,000 35,497,000
 EARNINGS BEFORE
 EXTRAORDINARY
 LOSS 32,320,000 23,097,000 83,568,000 55,522,000
 EXTRAORDINARY LOSS
 ON DEBT EXCHANGE -- -- -- (17,457,000)
 NET EARNINGS $32,320,000 $23,097,000 $ 83,568,000 $38,065,000
 EARNINGS (LOSS)
 PER SHARE:
 Earnings before
 extraordinary loss $1.02 $.76 $2.66 $1.87
 Extraordinary loss -- -- -- (.61)
 Net earnings $1.02 $.76 $2.66 $1.26
 WEIGHTED AVERAGE
 COMMON AND COMMON
 EQUIVALENT SHARES
 OUTSTANDING 31,647,220 30,555,028 31,421,331 28,640,416
 -0- 10/14/93
 /CONTACT: John Mackay of Padilla Speer Beardsley, Inc., 612-871-8877; or John W. Brink of Green Tree Financial, 612-293-3400/
 (GNT)


CO: Green Tree Financial Corporation ST: Minnesota IN: FIN SU: ERN

DS -- MN008 -- 2054 10/14/93 09:17 EDT
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Date:Oct 14, 1993
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