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WORLD WIDE FINANCIAL RELOCATES CORPORATE HEADQUARTERS TO ACCOMMODATE EXPLOSIVE GROWTH

 BLOOMFIELD HILLS, Mich., June 7 /PRNewswire/ -- Jack Wolfe, president, and Bob Denton, CEO, of World Wide Financial Services, Inc., have announced that the company will be relocating its Bloomfield Hills headquarters to the 555 Woodward Building in Birmingham as of June 11, 1993. The company will occupy the entire fifth floor and portions of the sixth and seventh floors of the building, utilizing more than 20,000 square feet of office space.
 The move is a result of World Wide Financial's phenomenal growth and a need for more space for personnel and computer support systems. "Strategically, though," Wolfe explained, "Birmingham represents a central location from which to direct World Wide's expansion plans."
 World Wide Financial will retain Bloomfield Hills offices in addition to the currently operating Brighton and Troy offices. World Wide Financial has plans to open additional offices including Grand Rapids and an east side metro Detroit location in the months ahead.
 World Wide Financial's new CEO Denton, noted, "The expansion into servicing additional markets reflects our goal to be the No. 1 mortgage lender in the state. And, with such a demand for our services, we want to be fully prepared to accommodate our current and potential clients -- wherever they may be."
 In addition to a new CEO and corporate headquarters, World Wide has also acquired additional senior-level management staff including Julie McGrann, Quality Control auditor (hired in February); Pao Vang, senior comptroller (hired in March); John Pirtle, director of Information Systems (hired in March); Jon Leszczynski, Computer Systems administrator (hired in June); Paul Moore of Personnel Department, Inc. (retained in April); and Robert Brus, secondary marketing trader (promoted in May).
 World Wide Financial will celebrate its new headquarters with a reception on June 29 at the Old Woodward Grill, followed by a tour of the new facilities and a ribbon-cutting ceremony.
 "We are thrilled to be moving our headquarters to Birmingham," said Wolfe. "We anticipate terrific things developing from our relationship with the city."
 Founded in September 1990, by partners Jack Wolfe, Andrew Jacob, Howard Babcock and Robert Silverstein, World Wide Financial Services,
Inc. is currently headquartered in Bloomfield Hills. Building from a strong base in 1992, World Wide Financial has closed more than $400 million in residential loans during the first five months of 1993.
 -0- 6/7/93
 /CONTACT: Jack Wolfe of World Wide Financial Services, Inc., 313-647-1199; or Susan Alexy of The Berline Group, Inc., 313-540-7557, for World Wide Financial Services, Inc./


CO: World Wide Financial Services, Inc. ST: Michigan IN: FIN SU:

ML-JG -- DE008 -- 5927 06/07/93 10:18 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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