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LOAN AMERICA FILES REGISTRATION STATEMENT TO SELL ONE MILLION CLASS B COMMON SHARES

 MIAMI LAKES, Fla., April 5 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB), a publicly owned residential mortgage banking firm, has filed a registration statement with the Securities and Exchange Commission relating to the proposed sale by the company of 1 million shares of Class B common stock, not including 150,000 shares subject to an over-allotment option in favor of the underwriters.
 The Robinson-Humphrey Company, Inc. of Atlanta will manage the underwriting.
 Loan America's Class B common stock, which has 2,566,464 shares presently outstanding, is traded on the NASDAQ National Market System under the symbol LAFCB.
 John S. Kuczwanski, president of Loan America, stated: "The proceeds from this offering will be used to support our growth in both loan production and servicing portfolio."
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration, or qualification under the securities laws of any such state.
 A prospectus covering the offering can be obtained from Stephen D. Matheson, senior executive vice president, Loan America Financial Corporation, 8100 Oak Lane, Miami Lakes, FL 33016; phone, 305-557-9282.
 -0- 4/5/93
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282; or John K. Schulte of Schulte, Ross & Aguilar, 305-856-1442, for Loan America Financial Corp./
 (LAFCB)


CO: Loan America Financial Corporation ST: Florida IN: FIN SU: OFR

AW-SS -- FL003 -- 2938 04/05/93 10:30 EDT
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Publication:PR Newswire
Date:Apr 5, 1993
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