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Non-Tech : Aames Financial (AAM) - Undervalued or what??? -- Ignore unavailable to you. Want to Upgrade?

To: Bill De who wrote (312)	11/21/1997 9:33:00 AM
From: John	Read Replies (1) \| Respond to of 510

-------------------------------------------------------------------------------- Friday November 21, 8:45 am Eastern Time Company Press Release SOURCE: Aames Financial Corporation Aames Financial Corporation Holds Annual Meeting - Elects Three New Directors; Board Appoints Georges C. St. Laurent, Jr., and Neil B. Kornswiet Co-Chairmen LOS ANGELES, Nov. 21 /PRNewswire/ -- Aames Financial Corporation (NYSE: AAM - news) reported today that it held its Annual Meeting of Stockholders Wednesday, November 19, 1997, as scheduled. A quorum of stockholders was present in person or by proxy. All three nominees for the board of directors were elected for a three-year term expiring in the year 2000. The newly-elected directors are Georges C. St. Laurent, Jr., 61, former chairman and chief executive officer of Western Bank, Oregon; George W. Coombe, Jr., 72, a senior fellow at Stanford Law School and former general counsel of Bank of America; and Neil B. Kornswiet, 40, president and director of Aames Financial Corporation. Stockholders also approved a 1997 Stock Option Plan and the appointment of Price Waterhouse LLP as the Company's independent accountants for the fiscal year ending June 30, 1998. The Company announced that Georges C. St. Laurent, Jr., and Neil B. Kornswiet have been appointed co-chairmen of the board, filling the vacancy created by the retirement of former chairman Gary K. Judis. In his remarks to stockholders, Cary H. Thompson, Aames' chief executive officer said that the Company remains committed to building its core businesses -- the retail and One Stop broker production channels and the loan servicing division. ''These are the businesses that have true long-term franchise value, and we believe that the strategy of focusing on these core businesses will significantly enhance stockholder value,'' Thompson stated. Aames Financial Corporation is a leading home equity lender and currently operates 59 Aames Home Loan offices in 23 states throughout the United States. Its wholly owned subsidiary, One Stop Mortgage, Inc. operates in 41 offices in 35 states. From time to time the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. The risks and uncertainties that may affect the operations, performance and results of the Company's business include the following: negative cash flows and capital needs, delinquencies; negative impact on cash flow; right to terminate mortgage servicing, risks of contracted servicing, prepayment and credit risk, dependence on funding sources, capitalized interest-only strips; mortgage servicing rights, recent acquisition of One-Stop, dependence on broker network, impact of increases in correspondent pricing, risks associated with high loan-to-value loan products, competition, concentration of operations, timing of loan sales, economic conditions, contingent risks and government regulation. For a more complete discussion of these risks and uncertainties, see ''Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations -- Risk Factors'' in the Company's form 10-K for the fiscal year ended June 30, 1997. SOURCE: Aames Financial Corporation