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GREEN TREE FINANCIAL LEASES MORE SPACE IN ST. PAUL, EXPANDS HOME IMPROVEMENT DIVISION

 ST. PAUL, Minn., Nov. 18 /PRNewswire/ -- Green Tree Financial Corporation (NYSE: GNT) today announced that it had signed a long-term lease for 77,000 square feet of space in the First National Bank Building in downtown St. Paul.
 The company's rapidly expanding Home Improvement Division will move into the space in January. The division, which now occupies three floors of Landmark Towers, has doubled its business in the past year. Most of the division's 275 employees were added this year, with approximately 225 individuals working in St. Paul.
 Robert Hegstrom, executive vice president, who heads Green Tree's Home Improvement Division, said more than 200 new employees are likely to be added as the division continues to grow. Anticipating that expansion, Green Tree has an option to lease an additional 36,650 square feet of space in the First National Bank Building.
 "We are very happy to be expanding once again in our headquarters city of St. Paul," said Lawrence M. Coss, Green Tree's chairman and chief executive officer. "We have a lot of opportunities for further growth in our businesses, and this area provides a good work force that enables us to take advantage of those opportunities."
 Green Tree's corporate headquarters and its loan operations for manufactured housing, special products, and insurance will remain in downtown St. Paul's Landmark Towers, which the company purchased earlier this year. Approximately, 800 of Green Tree's 1,800 employees are based in St. Paul. The company's expansion is the result of increased loan volume, up 98 percent for the first nine months of the year and up 125 percent for the third quarter.
 The First National Bank Building, located at 332 Minnesota Street, is owned by Minnesota Street Associates Limited Partnership.
 Green Tree Financial Corporation makes loans to individuals in the 48 contiguous states for manufactured homes, home improvements and special products. Green Tree currently services approximately 387,000 contracts totaling $6.7 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- 11/18/93
 /CONTACT: Melissa Quinn of Padilla Speer Beardsley, 612-871-8877, or In New York, 212-752-8338, for Green Tree Financial; or John W. Brink of Green Tree, 612-293-3400/
 (GNT)


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

AL -- MN009 -- 6071 11/18/93 13:18 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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