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WRIGHT NAMED HOMEFED CFO, SHEEHAN RESIGNS FROM BOARD

 WRIGHT NAMED HOMEFED CFO, SHEEHAN RESIGNS FROM BOARD
 SAN DIEGO, March 18 /PRNewswire/ -- HomeFed Corp. (NYSE: HFD), the


parent company of HomeFed Bank, Federal Savings Bank, has named Mark H. Wright, 46, chief financial officer and managing director of the financial service group, replacing William D. Nichol, who resigned last week.
 Wright joined HomeFed in July 1991, as managing director of plans and budget. He will retain those responsiblities in addition to his position as CFO.
 Wright has 22 years of experience in all aspects of financial institution management and funding for banks and thrifts. He spent five years as executive vice president of the banking group for Dallas-based Sunbelt Savings, FSB, before joining HomeFed.
 HomeFed also announced today that John E. Sheehan, 62, has resigned from the board of directors. Sheehan had been elected to the board last month.
 Sheehan, who lives on the East Coast, cited the travel distance and time required as the reasons for his resignation. "It wasn't until I actually became part of the board that I fully realized the amount of time that the board members would be required to dedicate to the company as it works through its difficulties. Given the distance and my other obligations, I felt it was best to resign as soon as I saw how intensive it would be to devote the time I felt was necessary to serve the board effectively."
 Sheehan said that there were no conflicts or disagreements with the board influencing his decision. "I have a lot of confidence in Tom Wageman, his management team and the other members of the board," he added.
 A native of Johnstown, Pa., Sheehan maintains residences in Laughlintown, Pa., and Washington D.C.
 HomeFed now has seven directors on its board.
 Founded in 1934, HomeFed Bank operates a network of 203 retail offices throughout California.
 -0- 3/18/92
 /CONTACT: Monica Wiley of HomeFed Corp., 619-450-7885/
 (HFD) CO: HomeFed Corp.; HomeFed Ban, Federal Savings Bank ST: California IN: FIN SU: PER


JL -- SD004 -- 9400 03/18/92 16:52 EST
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Publication:PR Newswire
Date:Mar 18, 1992
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