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AAMES FINANCIAL CORP. REPORTS SHARP INCREASE IN NET INCOME AND REVENUE

 LOS ANGELES, Aug. 5 /PRNewswire/ -- Aames Financial Corp. (NASDAQ: AAMS) today announced a 72 percent increase in net income on a 46 percent revenue gain for its fiscal year ended June 30, 1993.
 Net income for the year advanced to $5,003,000 from $2,914,000 the prior year. Earnings per share, based on 16 percent more shares outstanding, rose to $1.13 from $0.76 a year ago. Revenues for the year advanced to $31,311,000 from $21,492,000 for the previous year.
 For the fourth quarter ended June 30, 1993, net income rose 13 percent to $1,322,000, from $1,169,000 for the corresponding prior year period. Earnings per share for the quarter increased to $0.30, from $0.27 per share a year earlier. Revenue for the fourth quarter rose to $7,954,000 from $7,542,000 last year.
 Earnings per share figures for both prior year periods were adjusted for a 4-for-3 split of the company's common stock, effective May 3, 1993.
 Gary K. Judis, Aames' chief executive officer, attributed the improved


performance to continued brisk lending activity, reflecting, in part, the present interest rate environment. He noted that increased advertising during the year also resulted in added revenue, and net income further benefitted from completion of four mortgage-backed investment pools. On a pre-tax basis, income for fiscal 1993 increased 108 percent over the prior year.
 At fiscal year end, Aames had increased the size of its loan portfolio to $262 million from $205 million. Loan recordings for fiscal 1993 advanced to $156 million from $116 million a year earlier.
 During fiscal 1993, Aames opened new branch offices in Stockton, Orange and Chula Vista, Calif. Subsequent to the close of the fiscal year, the company opened an office in Oceanside, Calif., bringing the number of branches to 25. In addition, this September Aames plans to open its first out-of-state branch in Las Vegas.
 "We are gratified by the results achieved in fiscal 1993, and committed to further growth and progress in the new fiscal year," said Judis. "Our program of quarterly sales of mortgage-backed investment pools is expected to continue to enhance margins. Moreover, we are continuing to place emphasis on innovative marketing and advertising and are pursuing geographic expansion opportunities."
 Aames Financial Corp.'s subsidiary, Aames Home Loan, has arranged equity-based first and junior trust deed financing since 1954. The company operates 25 branch offices throughout California.
 AAMES FINANCIAL CORP. & SUBSIDIARIES
 Consolidated Statements of Income
 Fiscal Year Ended Fourth Quarter Ended
 1993 1992 1993 1992
 Revenue $31,311,000 $21,492,000 $7,954,000 $7,542,000
 Income before
 income taxes 8,356,000 4,026,000 2,213,000 1,976,000
 Provision for
 income taxes 3,353,000 1,112,000 891,000 807,000
 Net income 5,003,000 2,914,000 1,322,000 1,169,000
 Net income
 per share $1.13 $0.76 $0.30 $0.27
 Weighted average
 number of shares
 outstanding 4,415,000 3,811,000 4,462,000 4,405,000
 -0- 8/5/93
 /CONTACT: Gregory J. Witherspoon of Aames Financial, 213-351-6100; or Roger S. Pondel or Cecilia A. Wilkinson of Pondel Parsons & Wilkinson, 310-207-9300, for Aames Financial/
 (AAMS)


CO: Aames Financial Corp. ST: California IN: FIN SU: ERN

BP-MF -- LA014 -- 9720 08/05/93 09:03 EDT
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Date:Aug 5, 1993
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