EARNINGS UPDATE - FREMONT GENERAL

Fremont General reported its Fourth Quarter and full year results for 2002, which were quite strong. The highlights of the earnings report were as follows:

· Earnings for the Fourth Quarter were $0.43 per share, which were up 119% over the Fourth Quarter of 2001. For the year ended December 31, 2002, Fremont General earned $1.40 per share as compared with $0.76 in 2001 (an 84% increase).

· The company increased its quarterly cash dividend from 2 cents per share to 3 cents per share, which represents a 50% increase.

· Fremont General announced a 4 million share buy back. At the present time, the company has about 80 million shares outstanding.

· The company took a $77 million special charge to completely discharge its financial obligation regarding the discontinued insurance operations.

The quarterly and year-end reports were very good. We continue to view Fremont as an undervalued company. For 2003, we estimate the company could earn $1.55-$1.60 per share.

Stock Traders Press Management