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OLYMPIC FINANCIAL LTD. COMPLETES FIRST PUBLIC SALE OF ASSET-BACKED SECURITIES

 MINNEAPOLIS, March 25 /PRNewswire/ -- Olympic Financial Ltd. (NASDAQ-NMS: OLYM) said today that its subsidiary, Olympic Receivables Finance Corp., has completed the sale of a $59.2 million issue of automobile loan-backed certificates. The certificates were rated AAA by Standard & Poor's and Aaa by Moody's, based on a financial guarantee insurance policy provided by Financial Security Assurance Inc. (FSA). The offering was co-managed by Kidder, Peabody & Co. Incorporated and Lehman Brothers.
 It was the first public offering of asset-backed securities by the Minneapolis-based company, which purchases, pools, sells and services retail automobile installment loans originated by a network of automobile dealers in Minnesota, Colorado, Texas and Washington.
 The issue, Olympic Automobile Receivables Trust, 1993-A, is backed by auto loans acquired by Olympic Financial from its network of automobile dealerships during the six months ending Feb. 28. It was priced as 4.65 percent coupon at 99-26/32 to yield 4.66 percent, a 75 basis-point spread above the outstanding two-year Treasury note.
 "This is our third major securitization and our largest to date," Jeffrey C. Mack, Olympic's chairman and chief executive officer, said. "Obtaining a triple-A rating through the guarantee provided by FSA and entering the public asset-backed securities market were prime objectives for our company in fiscal 1993, just one year after our first securitization, which was privately placed.
 "These developments strongly enhance the marketability and liquidity of our product in the securitization marketplace. The pricing of this issue at 75 basis points over the two-year Treasury note is significantly more favorable than the interest spreads on our earlier securitizations."
 Securitization is the process by which the installment loan contracts acquired by Olympic are pooled and sold to investors as asset- backed securities, with servicing retained by Olympic.
 Today's closing brings total securitizations for Olympic to $138 million -- approximately $130 million of which was sold in the last nine months.
 Olympic Financial began operations in Minnesota in 1990 and within the past year has expanded to Colorado, Texas and Washington. The company plans expansion to Phoenix, Ariz., and one other major market by the end of calendar 1993.
 Olympic has entered into agreements with more than 425 auto dealerships and has acquired more than $167 million in retail automobile finance contracts since June 1990.
 -0- 3/25/93
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen Inc., 612-371-0000 or Jeffrey C. Mack of Olympic Financial Ltd. 612-942-9880/
 (OLYM)


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

KH -- MN015 -- 9825 03/25/93 17:35 EST
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Date:Mar 25, 1993
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