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RONALD A. HUIRAS ANNOUNCES RETIREMENT FROM FLEET MORTGAGE GROUP; COMPANY REALIGNS EXECUTIVE MANAGEMENT

 COLUMBIA, S.C., March 22 /PRNewswire/ -- Fleet Mortgage Group (NYSE: FLG) announced today that Ronald A. Huiras is retiring as president of its subsidiary, Fleet Mortgage Corp., effective March 31, and that the company is realigning its executive management, effective immediately.
 Huiras, after a distinguished 33-year career with Fleet Mortgage Corp., will also retire as executive vice president of Fleet Mortgage Group.
 Fleet Mortgage Corp., based in Milwaukee, is a wholly owned subsidiary of Fleet Mortgage Group, Columbia.
 "Throughout my career I have always had aspirations to own and operate my own mortgage company, and now that I have that opportunity, I have decided to pursue it," said Huiras.
 Andrew D. Woodward Jr., chairman, president and chief executive officer of Fleet Mortgage Group, said, "Ron made significant contributions to our growth and success over the years and we wish him the very best in his future pursuits."
 Huiras, 59, joined Fleet Mortgage Corp., in 1960. Since then, he has held positions of controller, treasurer and controller, and executive vice president responsible for all administrative functions. In January 1984, Huiras was appointed president and director of Fleet Mortgage Corp., and in May 1991, he was named an executive vice president of Fleet Mortgage Group with responsibility for mortgage servicing operations.
 Regarding the realignment of executive management, Woodward announced the following:
 -- Michael J. Torke, 42, executive vice president, will have responsibility for the company's two loan servicing centers in Milwaukee and Florence, S.C., as well as master servicing in Columbia. Previously, he was executive vice president, operations.
 -- Gary K. Bettin, 39, executive vice president, marketing and operations, will be responsible for underwriting, marketing, loan operations, quality control, and the commercial production division. Previously, Bettin served as executive vice president, corporate administration and marketing.
 -- Kevin D. Race, 32, formerly senior vice president and treasurer, has been promoted to executive vice president, chief financial officer and treasurer. He will be responsible for accounting, treasury, and corporate communications functions.
 -- Richard M. Duncan, 45, will continue as executive vice president with responsibilities for both retail branch and correspondent division loan production.
 "We are a leader in a dynamic industry and we must ensure that our management team is properly structured to meet the demands of growth and change," Woodward said. "These changes clearly recognize the substantial managerial talent that we have and they provide an optimal match between assigned responsibilities and the particular expertise of each individual involved," he said.
 Fleet Mortgage Group, headquartered in Columbia, is a leading originator and servicer of mortgage loans. Its subsidiaries originate mortgage loans through 91 branches located in 37 states and acquire new mortgage loans from other lenders through an extensive correspondent network.
 BIOGRAPHIES
 Michael J. Torke
 Mike Torke is an executive vice president of Fleet Mortgage Group in Columbia, in charge of loan servicing, master servicing, servicing acquisitions, sales and valuations. He joined Fleet Mortgage Corp. in February 1979 as corporate controller. In 1984, he was promoted to senior vice president and also assumed the responsibility for the servicing division.
 Mr. Torke's responsibilities were changed in 1987 to encompass loan operations, underwriting, data processing, accounting, office services and bulk acquisition/pricing. In 1989, he was promoted to executive vice president and assumed the additional responsibility of the human resource function. Mr. Torke was promoted to executive vice president, operations of Fleet Mortgage Group in 1990.
 Mr. Torke graduated from the University of Wisconsin-Whitewater with a bachelor's of science degree in accounting. He is a certified public accountant having begun his career at KPMG Peat Marwick.
 Gary K. Bettin
 Gary Bettin is an executive vice president for Fleet Mortgage Group in Columbia, responsible for underwriting, marketing, loan operations, quality control and commercial production. He joined Fleet Funding in 1984. After holding various positions within the company, he was promoted to executive vice president of Fleet Mortgage Group in November 1990, with responsibilities for accounting, data processing, human resource, legal, internal audit, office services, marketing and hedging. He is a certified public accountant, having begun his career with Ernst & Young in Milwaukee.
 Mr. Bettin received his bachelor's of science degree in business administration from Marquette University. He is an active member of the Wisconsin Institute of Certified Public Accountants (WICPA), and the American Institute of Certified Public Accountants (AICPA). He is a frequent speaker within the mortgage banking industry.
 Kevin D. Race
 Kevin Race is executive vice president, chief financial officer and treasurer of Fleet Mortgage Group, responsible for accounting treasury and corporate communications.
 Mr. Race joined Fleet Mortgage Group in 1989 as vice president of capital markets with responsibilities for development and implementation of various mortgage and asset-backed securitization programs. In July of 1991, he was promoted to senior vice president and treasurer and assumed responsibilities for managing the company's non-conforming mortgage programs. Prior to joining Fleet, Mr. Race was with Citicorp Investment Bank for four years. During his tenure with Citicorp, he was vice president, CMO product manager for two years and vice president, national product manager, mortgage securities. Mr. Race also spent three years with North American Mortgage Company as assistant vice president, secondary marketing.
 Mr. Race graduated from Trinity University with a bachelor's of science degree in economics/finance. Corporate affiliations and licenses include National Association of Securities Dealers (NASD), Registered Principal, Series 24, Series 7, and Series 63.
 Richard M. Duncan
 Richard Duncan is an executive vice president for Fleet Mortgage Group in Columbia, responsible for residential and wholesale production. This position oversees the supervision of production in Fleet Mortgage Corp. as well as Fleet Real Estate Funding. Mr. Duncan has held this position since October of 1990. He joined the organization in May of 1984, with a background in secondary marketing, underwriting and wholesale administration.
 Prior to joining Fleet Mortgage, Mr. Duncan was employed by American Federal FSB where he was senior vice president in charge of the mortgage banking division. Mr. Duncan is a 1974 graduate of Clemson University where he earned a bachelor's of science degree in administrative management.
 -0- 3/22/93
 /CONTACT: Charles T. Conway Jr., director, corporate communications of Fleet Mortgage Group, 803-929-7910/
 (FLG)


CO: Fleet Mortgage Group, Inc. ST: South Carolina IN: FIN SU: PER

CK-OS -- NY028 -- 8149 03/22/93 10:44 EST
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