MINNEAPOLIS, Feb. 20 /PRNewswire/ -- Olympic Financial Ltd. (NYSE: OLM)
("Olympic") announced today that it has amended its offer to purchase all of
its outstanding 13% Senior Notes due 2000 to increase the purchase price from
$1,137.50 to $1,142.50 for each $1,000 principal amount thereof, together with
accrued and unpaid interest up to the date of purchase, including consent fees
to amend the Indenture governing the 13% Senior Notes.  The offer remains
subject to certain conditions, including the completion of financing.  The
Amended Offer to Purchase for Cash and Consent Solicitation, including a copy
of Olympic's Annual Report on Form 10-K for the fiscal year ended December 31,
1996, was mailed today to record holders of the Senior Notes as of the close
of business on February 19, 1997.  The offer to purchase and the related
consent solicitation were previously extended and will expire at 5:00 p.m.,
New York City time, on March 6, 1997, unless further extended.  Norwest Bank
Minnesota, N.A. is serving as depositary for purposes of the offer to purchase
and the consent solicitation.
    Olympic Financial Ltd. is a Minneapolis-based consumer finance company
which purchases, sells and services retail installment contracts for new and
used automobiles originated by more than 7,700 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 40 states.

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