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HOMEFED ANNOUNCES NEW BOARD MEMBER

 HOMEFED ANNOUNCES NEW BOARD MEMBER
 SAN DIEGO, Jan. 8 /PRNewswire/ -- HomeFed Corp. (NYSE: HFD), the


parent company of HomeFed Bank, Federal Savings Bank, announced today that Timothy M. Considine, 51, has been elected to the company's board of directors.
 Considine is the managing partner of Considine & Considine, Certified Public Accountants, in San Diego. A fifth-generation San Diegan, Considine has many ties to the local community. He was chairman of the Civil Service Commission, San Diego County, and has served on the county's Tax Appeals Board and the board of trustees of the San Diego State University Foundation. Currently, Considine serves in many academic and athletic activities at SDSU and is a trustee for the San Diego Space and Science Foundation, which includes the Reuben E. Fleet Space Center.
 He has written numerous articles and presentations on tax law and real estate.
 "We are pleased to welcome Tim to HomeFed's board," said Kim Fletcher, HomeFed chairman. "His knowledge of finance and real estate, and his community involvement will be an asset to the board and the company."
 Considine holds a bachelor of science degree in accounting from San Diego State University. He is a member of the San Diego and California Societies of Certified Public Accountants and the American Institute of Certified Public Accountants.
 HomeFed now has nine directors on its board.
 Founded in 1934, HomeFed Bank operates a network of 204 retail offices throughout California.
 -0- 1/8/92
 /CONTACT: Monica Wiley of HomeFed, 619-450-7885/
 (HFD) CO: HomeFed Corp. ST: California IN: FIN SU: PER


KJ -- SD003 -- 7709 01/08/92 10:59 EST
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Date:Jan 8, 1992
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