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OLYMPIC FINANCIAL ANNOUNCES SALE OF $18 MILLION OF SENIOR SECURED NOTES

 MINNEAPOLIS, Dec. 1 /PRNewswire/ -- Olympic Financial Ltd. (NASDAQ-NMS:OLYM) sold $18 million of 11.05-percent senior secured notes due Nov. 22, 2000, the company said today. Kidder, Peabody & Co. Incorporated acted as placement agent on behalf of Olympic.
 The issue, offered on a private-placement basis, is one of two current financings anticipated and developed by Olympic to help fund its market-expansion and securitization strategies. The second is a public offering of 1,000,000 shares of cumulative convertible exchangeable preferred stock priced last week. Proceeds from both financings will be used for general working capital purposes.
 Olympic Financial is a rapidly growing Minneapolis-based consumer finance company specializing in the purchase, pooling, sale and servicing of retail automobile installment loans originated by a network of more than 800 automobile dealers. It has opened branch offices in Arizona, Colorado, Florida, Georgia, Texas and Washington since April 1992 as part of a national expansion strategy that began with its Minnesota operations in 1990. It plans to expand into at least three more major metropolitan areas before the end of next summer.
 -0- 12/1/93
 /CONTACT: Tom Langenfeld of Swenson/Falker Associates, 612-371-0000, for Olympic Financial; or Jeffrey Mack of Olympic Financial, 612-942-9880/
 (OLYM)


CO: Olympic Financial, Ltd. ST: Minnesota IN: FIN SU:

AL-DS -- MN020 -- 9255 12/01/93 12:07 EST
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Publication:PR Newswire
Date:Dec 1, 1993
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