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RINEHART TO SUCCEED DEIHL AS CEO OF AHMANSON AND HOME SAVINGS; DEIHL WILL CONTINUE AS CHAIRMAN OF AHMANSON

 IRWINDALE, Calif., Oct. 26 /PRNewswire/ -- H.F. Ahmanson & Company (NYSE: AHM) announced that Richard H. Deihl, 65, chairman and chief executive officer of H.F. Ahmanson and its principal subsidiary, Home Savings of America, will step down as planned on Oct. 29, 1993, as chief executive officer of Ahmanson and Home Savings. Deihl will remain as chairman of the Board of Ahmanson.
 Charles R. Rinehart, 46, was named by the Ahmanson Board of Directors to succeed Deihl as president and chief executive officer of Ahmanson and chairman and chief executive officer of Home Savings. Rinehart was previously president and chief operating officer of Ahmanson and vice chairman and chief operating officer of Home Savings.
 "We have been working towards an orderly transition of management since Charlie Rinehart joined the company four years ago," said Deihl. "Day to day he has done an outstanding job of managing operations and guiding the company through a particularly difficult economic environment. I have every confidence that Charlie and his management team have the skills to lead the company into the future."
 "I look forward to building on the strong assets of this great institution as we meet the challenges of the 1990s and beyond," said Rinehart. "Dick Deihl's accomplishments as CEO of this company are unparalleled in our industry," he added. "He has led the company through nearly three decades of economic change, regulatory challenges, and formidable competition. We are fortunate to still have the benefit of his wisdom and experience."
 Deihl's retirement as chief executive officer marks a 33-year career with the company, 26 years of which were spent as chief executive officer of Home Savings and nine years as chief executive officer of Ahmanson. During his tenure, Home Savings has grown from $2 billion to $50 billion in assets, $2 billion to more than $38 billion in deposits, and maintained its leadership position as one of the strongest savings institutions in the country and one of the nation's leading retail mortgage originators. In the early 1980s, Deihl was instrumental in creating the Adjustable Rate Mortgage -- now an industry standard -- and also oversaw the company's expansion from its home state of California into 13 other states across the nation.
 Rinehart joined the company in 1989 and was named president and chief operating officer shortly thereafter. He was appointed to the Board of Directors of Ahmanson in 1990 and currently serves on the Executive Committee of the Ahmanson Board.
 Rinehart was previously president and chief executive officer of Avco Financial Services, a multinational company with operations in consumer finance, life insurance, and property casualty insurance. He began his career with Fireman's Fund Insurance Company in 1969 where he worked in various actuarial and underwriting positions before being appointed executive vice president in charge of field operations, sales and, distributions systems in 1982.
 Rinehart is currently a member of the Casualty Actuarial Society, a member of the California Business Roundtable and a Fellow of the American Academy of Actuaries. He is also on the Board of Trustees for the University of San Francisco and serves on the advisory Committee of Drug Use is Life Abuse. A native of San Francisco, Rinehart graduated from the University of San Francisco with a degree in mathematics.
 H.F. Ahmanson & Company, with more than $50 billion in assets, is the parent company of Home Savings of America, the nation's largest savings institution. Home Savings' deposit base of more than $38 billion is the largest of any savings institution in the United States. It operates 375 savings branches nine states and 88 mortgage lending offices in 13 states.
 -0- 10/26/93
 /CONTACT: Mary Trigg, 818-814-7922/
 (AHM)


CO: H.F. Ahmanson & Co.; Home Savings of America ST: California IN: FIN SU: PER

JB-LS -- LA033 -- 6862 10/26/93 14:22 EDT
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Date:Oct 26, 1993
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