MINNEAPOLIS, Nov. 17 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC)
announced today that it closed on a $25 million increase and a one year
extension to its existing $375 million warehouse facility agented by Bank of
America.  The larger $400 million facility is funded through a commercial
paper conduit administered by Bank of America and will continue to finance the
daily purchase of automobile receivables prior to securitization.
    Richard A. Greenawalt, Arcadia's president and chief executive officer
commented, "The warehouse funding arrangement provides the company with
additional capital to fund loan purchases and enhances the overall liquidity
available to Arcadia on favorable terms.  We are pleased with the increase and
extension to the warehouse facility and our continued relationship with Bank
of America."
    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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