MINNEAPOLIS, Oct. 16 /PRNewswire/ -- Olympic Financial Ltd. (NYSE: OLM)
today announced that the party which indicated an interest to buy the Company
which was announced on August 26, 1996 and certain other interested parties
have not elected to make a definitive offer.  The Company, assisted by its
financial advisor, Donaldson, Lufkin & Jenrette, will continue to examine
strategic alternatives available to it, but no assurance can be given that the
Company will receive any acceptable proposals to buy the Company.  The Company
indicated that any proposal would be evaluated in light of market conditions
that prevail at the time of the proposal and that no specific price range or
deal terms for an acceptable transaction have been set by the Company's Board
of Directors.
    The Company is scheduled to release 3rd quarter earnings on Tuesday,
October 22, 1996, and while the Company has not completed its close, earnings
are expected to meet analysts' expectations.
    Olympic Financial Ltd. is a Minneapolis-based consumer finance company
which purchases, sells and services prime retail installment contracts for new
and used automobiles originated by more than 6,800 dealers nationwide.
Olympic is the largest independent provider of automobile financing.  The
Company, which was founded in 1990, has Regional Buying Centers in Arizona,
Northern and Southern California, Colorado, Florida, Georgia, Massachusetts,
Minnesota, Missouri, New York, North Carolina, Ohio, Tennessee, North, South
and West Texas and Washington.  The Company acquires loans through 17 Regional
Buying Centers and has expanded its dealer network to include dealers in 38
states.

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