United PanAm Financial Corp. Announces that its Registration of Initial Public Offering is Effective

Business Wire, April 27, 1998

SAN MATEO, Calif.--(BUSINESS WIRE)--April 27, 1998--United PanAm Financial Corp. (NASDAQ:UPFC) announced today that its registration statement for an initial public offering of 5,500,000 shares of its Common Stock at a price of $11.00 per share has been declared effective by the Securities and Exchange Commission. The underwriting group for the offering is being managed by NationsBanc Montgomery Securities LLC and Piper Jaffray Inc.

The Company is a diversified specialty finance company engaged primarily in originating and acquiring for investment or sale of residential mortgage loans, personal automobile insurance premium finance contracts and retail automobile installment sales contracts.

A prospectus relating to these securities may be obtained from NationsBanc Montgomery Securities LLC, 415/627-2000, or Piper Jaffray Inc., 612/342-6348.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

CONTACT: United PanAm Financial Corp.

Carol Bucci, 650/345-1800