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OLYMPIC FINANCIAL LTD. OPENS ORLANDO OFFICE

 ORLANDO, Fla., Aug. 11 /PRNewswire/ -- Olympic Financial Ltd. (NASDAQ-NMS: OLYM), a rapidly growing Minneapolis-based consumer finance company specializing in automobile financing, has expanded operations into its sixth major metropolitan area with the opening of a branch office in Orlando, Fla., the company announced today.
 The company has also opened branch offices in Arizona, Colorado, Texas and Washington since April 1992 as part of a national expansion strategy that began with its Minnesota operations in 1990.
 Olympic Financial specializes in the purchase, pooling, sale and servicing of retail automobile installment loans originated by a network of more than 600 automobile dealers under contract with the company.
 The network has grown by 397 dealerships in the past year -- a 150-percent increase -- and Olympic has accelerated its market expansion this summer.
 "Our opening in Arizona last month was three months ahead of schedule, and the Florida opening is six months ahead," said Jeffrey C. Mack, chairman and chief executive officer. "Our expansion strategy is aimed at building loan originations across a broad geographic area to take advantage of economies of scale.
 "The strategy is producing a dramatic increase in loan originations for Olympic. Our loan origination volume for our fiscal year ended June 30 was $173 million, up 158 percent from $67 million in fiscal 1992. For the three months ended June 30, loan originations totaled $73 million, a 198-percent increase from the same period a year ago."
 -0- 8/11/93
 /CONTACT: Tom Langenfeld of Swenson Falker Associates, 612-371-0000; or Jeffrey C. Mack of Olympic Financial Ltd. 612-942-9880/
 (OLYM)


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

KH -- MN003 -- 1566 08/11/93 10:09 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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