Fremont Announces Improved 1Q, Clarendon Deal

Fremont General Corporation (NYSE: FMT) (the 'Fremont') reported today net income of $14,518,000 for the first quarter of 2001. This was comprised of net income from continuing operations of $12,082,000 and an after tax gain on the extinguishment of debt of $2,436,000. On a per share basis, Fremont reports basic and diluted net income per share from continuing operations of $.19 and $.17, respectively, for the quarter ended March 31, 2001. The extinguishment of debt resulted in an after tax gain of $.04 per share on both a basic and diluted basis for the quarter ended March 31, 2001. Total bas...