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AMERICAN RESIDENTIAL HOLDING CORP. FILES AN OFFERING FOR 2.5 MILLION SHARES OF COMMON STOCK

 LA JOLLA, Calif., March 11 /PRNewswire/ -- American Residential Holding Corp. (NASDAQ: AMRS) announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 2.5 million shares of new and existing common stock, $.04 par value.
 Through its wholly owned subsidiary, American Residential Mortgage Corp., American Residential Holding Corp. is the nation's fifth-largest independent mortgage bank. The company originates and services residential mortgages through 56 offices in 17 states.
 Approximately 80 percent of the proceeds from the offering will go to the company to be used to increase production capabilities and acquire servicing, in each case possibly through acquisitions and for general corporate purposes. The remaining 20 percent of the proceeds will go to selling shareholders. There will be no shares sold by management.
 Salomon Brothers Inc., the lead, along with Alex. Brown & Sons Inc. and Morgan Stanley & Co. Inc. are managing and underwriting the offering.
 A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 3/11/93
 /CONTACT: Judith A. Berry, 619-535-4425, or Clay Strittmatter, 619-535-4433, or Kasey Emmel, 619-535-4310, all of American Residential/
 (AMRS)


CO: American Residential Holding Corp.; American Residential
 Mortgage Corp. ST: California IN: FIN SU: OFR


LS-JL -- SD001 -- 4983 03/11/93 09:04 EST
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Publication:PR Newswire
Date:Mar 11, 1993
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