Fremont Sees 60% Increase in Net

Fremont General Corporation (the "Company") (NYSE: FMT) reported net income of $18,057,000 for the first quarter of 2002. This was comprised of net income from continuing operations of $17,535,000 and an after tax gain on the extinguishment of debt of $522,000. The net income from continuing operations for the first quarter of 2002 of $17,535,000 is compared to $14,559,000 for the fourth quarter of 2001 and $11,781,000 for the first quarter of 2001 . Diluted net income per share from continuing operations was $.25 for the quarter ended March 31, 2002, as compared to $.21 per share for the fo...