H. F. AHMANSON & COMPANY           HOME SAVINGS OF AMERICA            NEWS
                                   SAVINGS OF AMERICA

4900 Rivergrade Road
Irwindale, California  91706
(818) 814-7922


FOR IMMEDIATE RELEASE                        Contacts:
                                             Media:    Mary Trigg
                                                       818-814-7922
                                             Investor: Steve Swartz
                                                       818-814-7986


                 AHMANSON ANNOUNCES NEW STOCK REPURCHASE PROGRAM
  -Additional $150 Million Authorized; Preferred Stock Series B To Be Redeemed-

     Irwindale, CA, May 14, 1996 -- H.F. Ahmanson & Company (AHM-NYSE), parent
company of Home Savings of America, today announced that it has completed its
initial $250 million stock repurchase program and will begin a new program to
purchase an additional $150 million of its common stock.

     During the initial program, which was announced on Oct. 3, 1995, the
company purchased 10.4 million shares, or 9% of the outstanding common shares,
at an average price per share of $23.98.  In addition to its new program to
repurchase common stock, the company announced that on Sept. 3, 1996 it will
redeem its 9.60% Preferred Stock, Series B, at $25.00 per Depositary Share, plus
accrued and unpaid dividends to and including the redemption date.  First
Chicago Trust Company of New York, NY, will serve as the redemption agent for
this issue.

     Charles R. Rinehart, chairman and chief executive officer of Ahmanson and
Home Savings, said, "In keeping with the company's commitment to shareholder
value, the board of directors authorized a new $150 million stock repurchase
plan.  Our cash flow projections for the remainder of the year anticipate
sufficient cash to accomplish the redemption and additional common stock
repurchase.  We believe this program is an excellent way to deploy our excess
capital."

     "The redemption of the Series B Preferred Stock will contribute
approximately $0.09 to annualized earnings per share," Kevin M. Twomey, chief
financial officer, added.  "Although we do not plan to replace the preferred
issue at this time, we may decide to add to our outstanding preferred stock in
the future."

     On completion of the initial common stock repurchase program, the company
had 107.8 million common shares outstanding.

     H.F. Ahmanson & Company, with $49.8 billion in assets, is the parent
company of Home Savings of America.  Home Savings' deposit base is $34.2
billion.  It operates 347 financial service centers in four states and 115
mortgage lending offices in nine states.

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     Additional information, including monthly financial data, about H.F.
Ahmanson & Company and Home Savings of America can be retrieved free of charge
using the following  services:

               *    Internet:  http://www.investquest.com
               *    Fax-on-Demand:  (614) 844-3860
               *    On-line BBS:  (614) 844-3868