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GREEN TREE ACCEPTANCE ANNOUNCES DEVELOPMENTS IN LITIGATION STATUS WITH RESOLUTION TRUST CORPORATION

 GREEN TREE ACCEPTANCE ANNOUNCES DEVELOPMENTS IN
 LITIGATION STATUS WITH RESOLUTION TRUST CORPORATION
 SAINT PAUL, Minn., Dec. 19 /PRNewswire/ -- Green Tree Acceptance, Inc. (NYSE: GNT) today provided new information on its pending litigation with the Resolution Trust Corporation.
 On Oct. 25, 1991, Green Tree announced that it had reached an understanding with the local RTC office on terms to settle Green Tree's litigation with the RTC. In that press release, the company indicated that, among other matters, settlement was dependent on approval by appropriate RTC authorities. Green Tree has learned that the RTC will not accept the settlement proposal Green Tree had outlined. In its letter, the RTC further indicated its desire to continue meaningful settlement negotiations with Green Tree and further stated that the RTC would present Green Tree with an alternative settlement proposal in the future.
 Green Tree Acceptance purchases, pools, sells and services conditional sales contracts for manufactured homes and home improvements through 42 regional offices nationwide. Green Tree services approximately 315,000 contracts totaling $5.2 billion in outstanding principal balances. Green Tree's common stock is traded on the New York and Pacific stock exchanges under the symbol GNT.
 -0- 12/19/91
 /CONTACT: Richard G. Evans of Green Tree, 612-293-3400, or John Mackay of Padilla Speer Beardsley, 612-871-8877 or 212-752-8338 (New York) for Green Tree/
 (GNT) CO: Green Tree ST: Minnesota IN: SU:


KH -- MN002 -- 3730 12/19/91 09:07 EST
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Publication:PR Newswire
Date:Dec 19, 1991
Words:236
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