MINNEAPOLIS, Dec. 9 /PRNewswire/ -- Olympic Financial Ltd. (NYSE: OLM)
("Olympic") announced today that it has closed on a new $300 million warehouse
facility agented by Bank of America and using Receivables Capital Corporation
as the conduit vehicle.  Financial Security Assurance, Inc. is providing a
guarantee on the notes issued to the conduit.  This facility replaces a $200
million facility that matures on December 16, 1996.  This additional amount of
credit will be used to finance the daily purchase of automobile receivables
prior to securitization.
    Warren Kantor, Olympic's Chairman of the Executive Committee of the Board
of Directors commented, "This net increase in warehousing funds provides
Olympic with additional capital to fund loan purchases.  We anticipate future
increases in our warehousing facilities to accommodate our projected growth in
automobile loan purchases."
    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 7,000 dealers nationwide.
Olympic is the largest independent provider of automobile financing.  The
Company, which was founded 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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