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FREMONT GENERAL CORP. REPORTS RECORD EARNINGS FOR THE 1992 YEAR

 SANTA MONICA, Calif., Feb. 8 /PRNewswire/ -- For the year ended Dec. 31, 1992, the company reported earnings of $35,200,000, or $4.25 per share, vs. $29,138,000, or $3.52 per share, a year ago. For the three months ended Dec. 31, 1992, net income was $9,926,000, or $1.20 per share, up from $8,190,000, or $0.99 per share, for the like quarter a year ago.
 James A. McIntyre, chairman and chief executive officer, stated that pre-tax earnings from the company's financial service businesses increased to $15.4 million for the 1992 year from $10.8 million in 1991, for a 43 percent increase. Pre-tax earnings from the workers' compensation insurance business segment were $42 million for 1992, vs. $41 million for 1990.
 McIntyre further stated, "Given the consistency in profitability that the company's workers' compensation insurance business segment has displayed over the past three years and the strong earnings improvement in the company's financial services business segment, I am optimistic about the prospects for 1993."
 During the fourth quarter of 1992, the company adopted the provisions of Financial Accounting Standards Board (FASB) Statement
109 "Accounting for Income Taxes." Earnings for the 1991 year have been restated from $3.76 to $3.52 per share, and for the fourth quarter of 1991, from $1.03 to $0.99 per share. The impact on 1992 earnings was immaterial. The cumulative effect through Dec. 31, 1992, of adopting FASB 109 was an increase in shareholders' equity of approximately $36 million, or $4.41 per share. The book value per share of the company at Dec. 31, 1992, was $33.35.
 Fremont General Corp. is a holding company, engaged through subsidiaries in select insurance and financial service businesses.
 FREMONT GENERAL CORP. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Thousands of dollars, except per share data)
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 (Restated) (Restated)
 Revenues
 Premiums $105,705 $105,898 $429,113 $434,048
 Net investment
 income 18,760 20,176 87,028 79,086
 Loan interest 19,831 16,036 73,310 60,685
 Other revenue 2,894 1,995 9,242 7,355
 Total revenues 147,190 144,105 598,693 581,174
 Expenses
 Losses and loss
 adjustment
 expenses 79,092 75,078 343,945 315,802
 Operating costs
 and expenses 40,963 38,844 151,831 149,197
 Dividends to
 policyholders 3,200 9,842 10,576 36,396
 Interest expense 11,208 9,957 43,760 38,135
 Total expenses 134,463 133,721 550,112 539,530
 Total 12,727 10,384 48,581 41,644
 Provision for
 income taxes 2,801 2,194 13,381 11,542
 Income before
 discontinued
 operations 9,926 8,190 35,200 30,102
 Discontinued
 operations 0 0 0 (964)
 Net income $9,926 $8,190 $35,200 $29,138
 (a) Per share data:
 Income before
 discontinued
 operations $1.20 $0.99 $4.25 $3.64
 Discontinued
 operations 0.00 0.00 0.00 (0.12)
 Net income $1.20 $0.99 $4.25 $3.52
 (a) Based on weighted average shares:
 1992 -- 8,282,000
 1991 -- 8,279,000
 -0- 3/8/93
 /CONTACT: W.R. Bailey of Fremont General Corp., 310-315-5500/
 (FRMT)


CO: Fremont General Corp. ST: California IN: INS SU: ERN

BP-KJ -- LA019 -- 4268 02/08/93 16:31 EST
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Date:Feb 8, 1993
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