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AAMES REPORTS PRELIMINARY EARNINGS ESTIMATES FOR FIRST QUARTER

 LOS ANGELES, Sept. 29 /PRNewswire/ -- Aames Financial Corp. (NASDAQ: AAMS) today announced that earnings for its first fiscal quarter will be lower than analysts' expectations.
 The company said it estimates it will report net income of approximately $.16 to $.18 per share for the three months ended Sept. 30, 1993, based on 29 percent more shares outstanding, compared with $.28 per share for the corresponding prior year period. Analysts' estimates for the first quarter were approximately $.23 per share.
 Gary K. Judis, chief executive officer, said earnings were impacted during the quarter by a decline in the average loan size, although the number of loans originated was only slightly below that of the prior year period. He attributed the drop primarily to the continuing recessionary environment in California.
 In addition, Judis said the quarter included increased advertising expenditures and expenses associated with the September opening of the company's first branch office in Las Vegas, which represented Aames' initial entry outside the state of California.
 "We are pleased with the initial consumer response in Las Vegas, which has exceeded our expectations, and are continuing to explore additional geographic expansion opportunities," said Judis. "With regard to the remainder of our current fiscal year, it is still too early to predict trends. Nevertheless, we remain confident about our long-term growth prospects."
 Aames Financial Corp., through its Aames Home Loan subsidiaries, arranges equity-based first and junior trust deeds. The company operates 25 branch offices throughout California and one branch in the state of Nevada.
 -0- 9/29/93
 /CONTACT: Gregory J. Witherspoon, Aames Financial Corp.,


213-351-6100; or Roger S. Pondel or Cecilia A. Wilkinson, Pondel Parsons & Wilkinson, 310-207-9300/
 (AAMS)


CO: Aames Financial Corp. ST: California, Nevada IN: FIN SU: ERP

LS-MF -- LA010 -- 6671 09/29/93 09:02 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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