MINNEAPOLIS, Aug. 5 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC)
announced today that it closed on a $75 million increase to its existing
$300 million warehouse facility agented by Bank of America.  The larger $375
million facility is funded through a commercial paper conduit administered by
Bank of America and will continue to finance the daily purchase of automobile
receivables prior to securitization.
    This transaction, combined with the warehouse agreement renewed recently
with J.P. Morgan, brings total warehouse commitments to approximately $650
million for the company.  Richard A. Greenawalt, Arcadia's president and chief
executive officer commented, "These renewed warehouse funding arrangements
provide the company with additional capital to fund loan purchases and enhance
the overall liquidity available to Arcadia.  We are pleased with the recent
increases to both warehouse facilities and our continued relationships with
Bank of America and J.P. Morgan."
    Arcadia Financial Ltd. is a Minneapolis-based consumer financial services
company specializing in purchasing, selling and servicing retail installment
contracts for new and used automobiles originated by more than 8,800 dealers
in 42 states.  The company, founded in 1990, is the nation's largest
independent provider of automobile financing.  Its 18 Regional Buying Centers
are located in Arizona; northern and southern California; Colorado; Florida;
Georgia; Maryland; Massachusetts; Minnesota; Missouri; New York; North
Carolina; Ohio; Tennessee; north, south and west Texas; and Washington.

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