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FREMONT GENERAL CORP. PUBLIC OFFERING OF LIQUID YIELD OPTION(TM) NOTES DUE 2013 (ZERO COUPON-SUBORDINATED)

 SANTA MONICA, Calif., Oct. 5 /PRNewswire/ -- Fremont General Corp. (NYSE: FMT) announced today the commencement of a public offering of $325,000,000 principal amount at maturity of Liquid Yield Option(TM) Notes Due Oct. 12, 2013 (Zero Coupon-Subordinated) (the "LYONs") at an issue price of $372.42 for total net proceeds to the company of approximately $117 million (before any exercise of the over-allotment option) and a yield to maturity of 5 percent. The offering was underwritten by Merrill Lynch & Co. The underwriter has an over- allotment option to purchase up to an additional principal amount at maturity of $48,750,000 of LYONs. All LYONs were sold by the company and represent new financing. Fremont General's Common Stock has been traded on the New York Stock Exchange since March 22, 1993.
 The LYONs are initially convertible into the company's Common Stock at a price of $31.86 per share, or a conversion premium of 18 percent over the Common Stock price at the time of the sale. The LYONs, noncallable for five years, are rated Ba2 by Moody's Investment Services and BB- by Standard & Poor's Corp. The settlement date is Oct. 12, 1993.
 A prospectus relating to these securities may be obtained from Merrill Lynch & Co. at North Tower, World Financial Center, New York, NY 10024, 212-449-6500.
 Fremont General is a diversified financial services holding company, which through its subsidiaries, is engaged in various insurance and financial service businesses.
 -0- 10/5/93
 /CONTACT: W.R. Bailey, 310-315-5500/
 (FMT)


CO: Fremont General Corp. ST: California IN: FIN SU: OFR

EH -- LA010 -- 8744 10/05/93 09:37 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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