Olympic Financial Ltd. Files Shelf Registration Statements

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Olympic Financial Ltd. Files Shelf Registration Statements
    MINNEAPOLIS, Dec. 17 /PRNewswire/ -- Olympic Financial Ltd. (NYSE: OLM)
("Olympic") announced today the filings of two shelf registration statements
with the Securities and Exchange Commission (SEC).
    The first filing provides for the future issuance of up to an aggregate of
$500.0 million in debt or equity securities.  Once approved by the SEC, the
shelf registration enables Olympic to issue several types of securities,
including senior and subordinated unsecured debt, and preferred and common
stock.  The Company does not have plans for the immediate issuance of such
securities.
    The second filing is for the future issuance of an aggregate of $4.0
billion in asset-backed securities.  The securities may be offered from time
to time at prices to be determined at the time of sale.  No dates have been
specified for the issuance of the securities and no offering of any of the
securities is scheduled at this time.  To date, the Company has issued an
aggregate of $5.8 billion in asset-backed securities.
    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 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.
    Registration statements relating to these securities have been filed with
the Securities and Exchange Commission but have not yet become effective.
These securities may not be sold, nor may offers be accepted prior to the time
the registration statements become effective.  This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any State in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities law of any such State.
SOURCE Olympic Financial Ltd.