MINNEAPOLIS, Oct. 21 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC)
announced today that it closed on a $300 million warehouse facility
underwritten by Donaldson, Lufkin & Jenrette Securities Corporation.  This new
two year facility will be used to finance the daily purchases of automobile
receivables prior to securitization.  This facility, when combined with
warehousing agreements renewed earlier in the third quarter of this year,
brings total warehouse commitments for the company to approximately $950
million in three separate facilities.  Richard A. Greenawalt, Arcadia's
president and chief executive officer commented, "This new funding arrangement
provides the company with record levels of liquidity to fund new loan
purchases.  We are very pleased with this additional source of funding.  This
new facility and our recent issuance of $75 million of senior debt have
significantly strengthened our liquidity position."
    Arcadia Financial Ltd. is a Minneapolis-based consumer financial services
company specializing in purchasing, selling and servicing retail installment
contracts for new and used automobiles originated in 43 states.  The company,
founded in 1990, is the nation's largest independent provider of automobile
financing.  Its 18 Regional Buying Centers are located in Arizona; northern
and southern California; Colorado; Florida; Georgia; Maryland; Massachusetts;
Minnesota; Missouri; New York; North Carolina; Ohio; Tennessee; north, south
and west Texas; and Washington.

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