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CHARLES RINEHART PROMOTED TO VICE CHAIRMAN AND FREDRIC FORSTER NAMED PRESIDENT OF HOME SAVINGS

 IRWINDALE, Calif., Jan. 28 /PRNewswire/ -- Richard H. Deihl, chairman and chief executive officer of H.F. Ahmanson & Co., (NYSE: AHM) and its principal subsidiary, Home Savings of America, announced that Charles R. Rinehart, president and chief operating officer of Ahmanson and Home Savings, has been promoted to vice chairman of Home Savings. Rinehart, 45, who joined the company in 1989, remains president and chief operating officer of Ahmanson as well as chief operating officer of Home Savings.
 Deihl also announced that Fredric J. Forster, president of ITT Federal Bank in Newport Beach, Calif., will join the company as president of Home Savings of America and senior executive vice president of H.F. Ahmanson & Co. Forster, who will report to Rinehart, will spend several months in the field becoming familiar with the company's operations, after which he is expected to eventually assume the role of chief operating officer of Home Savings.
 "Charlie Rinehart has demonstrated superb leadership and management skills in running the company's daily operations and will continue to be critical to its ongoing success as its future leader," said Deihl.
 "Fred Forster, who is a highly respected executive in the savings and loan industry, brings more than 20 years experience in financial services and residential real estate lending to Home Savings, Deihl added. "He is an important addition to our management team and further strengthens the company's management succession plan."
 Forster, 48, was the founding president of Newport Balboa Savings and Loan Association in 1979, which was purchased by ITT Financial Corp. in 1983 and renamed ITT Federal Bank in 1989.
 Earlier in his career, Forster held several senior management positions at American Savings, including vice president of Loan Administration and assistant to the president. Prior to that, he served in a variety of capacities at The Larwin Group, a Los Angeles- based residential home builder, including director of Corporate Planning and a senior officer of its affiliate company, Rexford National Mortgage Corp.
 Forster received his bachelor of arts degree in physics from Princeton University in 1966 and his master of business administration degree from Harvard Graduate School of Business Administration in 1968. He is currently a director of the Federal Home Loan Bank of San Francisco and serves as chairman of its Affordable Housing Committee. He is also a member of the Legislative Committee of the California League of Savings Institutions.
 Home Savings of America, with $48 billion in assets and more than $39 billion in deposits, is the nation's largest savings institution. It serves more than 2.5 million customers from 372 savings branches in nine states and 92 mortgage lending offices in 13 states.
 -0- 1/28/93
 /CONTACT: Mary Trigg of H.F. Ahmanson & Co., 818-814-7922/
 (AHM)


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

EH-JL -- LA020 -- 0263 01/28/93 12:27 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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