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GREEN TREE ACCEPTANCE ANNOUNCES SALE OF 3,000,000 SHARES OF COMMON STOCK

GREEN TREE ACCEPTANCE ANNOUNCES SALE OF 3,000,000 SHARES OF COMMON STOCK
 ST. PAUL, Minn., March 12 /PRNewswire/ -- Green Tree Acceptance, Inc. (NYSE: GNT), announced today it has sold 3,000,000 shares of common stock to the public at a price of $36 per share. The company will use the proceeds of the offering to purchase all of the company's outstanding preferred stock held by the Resolution Trust Corporation. The company has granted the underwriters the option to purchase an additional 450,000 shares to cover over-allotments. Merrill Lynch & Co. and The First Boston Corporation were co-managers for the offering.
 Green Tree Acceptance, Inc., purchases, pools, sells and services conditional sales contracts for manufactured homes, home improvements and motorcycles through 42 regional offices nationwide. It currently services approximately 320,000 contracts totaling $5.3 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- 3/12/92
 /CONTACT: John W. Brink of Green Tree, 612-293-3400, or John Beardsley of Padilla Speer Beardsley, 612-871-8877, for Green Tree/
 (GNT) CO: Green Tree Acceptance, Inc. ST: Minnesota IN: FIN SU:


KH -- MN010 -- 7537 03/12/92 16:29 EST
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Publication:PR Newswire
Date:Mar 12, 1992
Words:202
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