MINNEAPOLIS, March 7 /PRNewswire/ -- Olympic Financial Ltd. (NYSE: OLM)
("Olympic") announced today that it has extended its offer to purchase all of
its outstanding 13% Senior Notes due 2000 and the related consent
solicitation, which were scheduled to expire at 5:00 p.m., New York City time,
on March 6, 1997.  The new expiration date for both the offer to purchase and
the related consent solicitation is 5:00 p.m., New York City time, on
March 11, 1997, unless further extended.  Other than the extensions, the
financial and other terms of the offer to purchase and the consent
solicitation are unchanged from the terms as previously amended on
February 20, 1997.
    To date, Senior Notes aggregating approximately $66.5 million in principal
amount have been deposited in the tender offer and have provided consents in
the consent solicitation. The Company has been informed by the Dealer-Manager
that the Dealer-Manager has received indications from substantial holders that
such holders' Senior Notes will be tendered and consents will be given prior
to the expiration dates, as so extended.  Upon receipt of such tenders and
consents, the Company would have the Requisite Consents, as defined in the
amended Offer to Purchase for Cash and Consent Solicitation dated February 20,
1997.
    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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