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OLYMPIC FINANCIAL LTD. OPENS PHOENIX OFFICE

 PHOENIX, July 6 /PRNewswire/ -- Olympic Financial Ltd. (NASDAQ-NMS:OLYM), a rapidly growing Minneapolis-based consumer finance company specializing in automobile financing, has expanded operations into its fifth major metropolitan area with the opening of a branch office in Phoenix, the company announced today.
 Olympic has also opened branch offices in 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 592 automobile dealers under contract with the company.
 "Our dealer network has grown by 349 in the past year, a 144-percent increase that reflects our highly successful expansion in Colorado, Texas and Washington," Jeffrey C. Mack, chairman and chief executive officer, said. "Our opening in Arizona is three months ahead of our original schedule and marks an important step in our strategic plan for expanding our company nationally.
 "Our market expansion is producing a dramatic increase in loan originations for Olympic. Our loan origination volume for our fiscal year ended last Wednesday -- 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."
 The company is scheduled to add a sixth market next month with the opening of an office in Orlando, Fla.
 -0- 7/06/93
 /CONTACT: Tom Langenfeld of Swenson Falker Eilertsen, 612-371-0000, for Olympic Financial; or Jeffrey C. Mack of Olympic Financial 612-942-9880/
 (OLYM)


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

DB -- MN008 -- 8597 07/06/93 11:54 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
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