MINNEAPOLIS, March 5 /PRNewswire/ -- Olympic Financial Ltd. (NYSE: OLM)
today announced that a shareholder has commenced in the United States District
Court for the District of Minnesota an action against Olympic challenging the
Company's reporting and disclosure standards.  The plaintiff seeks
certification of the case as a class action.  Olympic stated that after
reviewing the complaint, it believes that the suit is without merit.
    Richard A. Greenawalt, Chief Executive Officer, commented, "The Company's
policy has always been, and will continue to be, complete and accurate
disclosure.  We fully intend to contest the suit and expect to prevail."
    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 7,700 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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