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OLYMPIC FINANCIAL LTD. OPENS SEATTLE OFFICE

 SEATTLE, March 16 /PRNewswire/ -- Olympic Financial Ltd. (NASDAQ-NMS: OLYM), a rapidly growing independent automobile finance company based in Minneapolis, has expanded its operations to Washington with the opening of a branch office in the Seattle metropolitan area, the company announced today.
 The Seattle branch, at 155 108th Avenue N.E., Bellevue, Wash., is Olympic Financial's fourth loan origination office. The others are in Denver, Minneapolis, Dallas.
 Olympic Financial specializes in the purchase, pooling, sale and servicing of retail automobile installment loans originated by a network of more than 425 automobile dealers under contract with the company. It is headquartered in Minneapolis.
 "The Seattle expansion is an important step in the continuing expansion of our company nationally," Jeffrey C. Mack, chairman and chief executive officer, said. "It is our third major market entry in less than a year, and we believe that it represents an excellent opportunity to replicate the success we've enjoyed in Colorado, Texas and our home base in Minnesota. We expect to add two additional markets by the end of calendar 1993, including Phoenix.
 "Seattle's excellent base of franchised auto dealers, its favorable demographics and its geographical importance combined to put it high on the list of major metropolitan areas that best meet our expansion criteria."
 Olympic's loan purchases totaled $31.4 million in its most recent fiscal quarter, which ended Dec. 31. Its servicing portfolio grew by $21.1 million to a total o3?.4 million. Assets reached $81.2 million.
 The Seattle office is headed by Richard J. Hooper, formerly a lending officer and branch manager with the First Interstate Bank of Washington.
 -0- 3/16/93
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen Inc., 612-371-0000 or Jeffrey C. Mack of Olympic Financial Ltd., 612-942-9880/
 (OLYM)


CO: Olympic Financial Ltd. ST: Minnesota IN: FIN SU: PDT

KH -- MN006 -- 6503 03/16/93 11:31 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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