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FREMONT FINANCIAL EXPANDS IN EASTERN U.S. WITH ACQUISITION OF DANA BUSINESS CREDIT

 FREMONT FINANCIAL EXPANDS IN EASTERN U.S.
 WITH ACQUISITION OF DANA BUSINESS CREDIT
 SANTA MONICA, Calif., May 6 /PRNewswire/ -- Fremont Financial Corp., a subsidiary of Fremont General Corp. (NASDAQ: FRMT), today announced it has completed the acquisition of the loan portfolio and business of Dana Business Credit Corp., an asset-based lender headquartered in Cleveland, with a current loan portfolio of $41 million.
 Fremont said it will retain the firm's headquarters office as well as its loan production offices and staff in Detroit; Charlotte, N.C.; and Richmond, Va. Terms of the transaction were not disclosed.
 Dana Business Credit, a unit of the Dana Corp. (NYSE: DCN), is an asset-based lender serving mid-sized manufacturers, distributors and service companies in the eastern United States.
 Robert N. Tenney, president of Fremont, said Dana Business Credit's current president, Regis Gallagher, will become senior vice president and the Cleveland regional manager for Fremont.
 According to Tenney, this new regional office will be Fremont's sixth full-service office in the nation. With the new loan production offices in Detroit, Charlotte and Richmond, Fremont's market penetration will be further reinforced throughout the East, Southeast and Midwest.
 Founded in 1969, Fremont Financial Corp. is the commercial finance subsidiary of Fremont General Corp., a financial services and insurance holding company traded on NASDAQ. Fremont Financial specializes in providing asset-based loans ranging from $1 million to $5 million to middle-market companies. Based in Santa Monica, Fremont Financial is a nationwide lender with offices in Los Angeles, New York, Chicago, Atlanta and Minneapolis.
 -0- 5/6/92
 /CONTACT: Robert Tenney of Fremont Financial, 310-315-5550; or Roger Pondel or Keith Karpe of Pondel Parsons & Wilkinson, 310-207-9300, for Fremont Financial/
 (FRMT DCN) CO: Fremont Financial Corp.; Fremont General Corp.; Dana Corp. ST: California, Ohio IN: FIN SU: TNM


KJ-CH -- LA022 -- 7153 05/06/92 13:53 EDT
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Publication:PR Newswire
Date:May 6, 1992
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