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GREEN TREE FINANCIAL CORPORATION ANNOUNCES ONE-TIME CHARGE REFLECTING NEW FEDERAL TAX RATE

 ST. PAUL, Minn., Aug. 10 /PRNewswire/ -- Green Tree Financial Corporation (NYSE: GNT) today announced that as a result of today's enactment of the new federal corporate income tax rate, Green Tree is taking a one-time charge to earnings of $4,685,000, or 15 cents per share. The charge reflects the increase in the federal corporate income tax rate on the Company's deferred tax liability.
 Green Tree Financial makes loans to individuals in the 48 contiguous states for manufactured homes, home improvements and special products. Green Tree currently services approximately 365,000 contracts totaling $6.2 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- 8/10/93
 /CONTACT: John Mackay of Padilla Speer Beardsley, 612-871-8877, or in New York, 212-752-8338, for Green Tree Financial; or John W. Brink, Sr. vice president, treasurer, and chief financial officer of Green Tree Financial, 612-293-3400/
 (GNT)


CO: Green Tree Financial Corporation ST: Minnesota IN: FIN SU:

DB -- MN006 -- 1354 08/10/93 16:31 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:177
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