EX 99.1


                                                             Contact: Brock Hill
                                                                  (626) 535-1932



                       COAST LITIGATION TRUST ANNOUNCES
                           FILING OF STATUS REPORTS
               AND POSSIBLE EFFECT OF RECENT RULING ON RECOVERY

          PASADENA, California, January 24, 2001 - The Coast Federal Litigation
Contingent Payment Rights Trust (the "Trust") (NASDAQ:CCPRZ) announced today
that, in connection with Coast Federal Bank, Federal Savings Bank ("Coast
Federal") v. The United States (Civil Action No. 92-466C (the "Litigation") in
the United States Court of Federal Claims (the "Claims Court")), on January 22,
2001, Coast Federal and the government filed status reports with Judge Hewitt of
the Claims Court.

          Coast Federal's status report proposes that the focus of the parties
and the Court for the next several weeks should be on Coast Federal's motion,
filed on January 17, 2001, for interlocutory appeal of Judge Hewitt's December
28, 2000, order (the "Order") granting partial summary judgement to the
government as to the duration of Coast Federal's capital credit. In the event
that Judge Hewitt denies Coast Federal's motion for interlocutory appeal, Coast
Federal's status report requests that Judge Hewitt establish a schedule pursuant
to which the parties may revise their damages analyses to take account of the
Order. The schedule suggested in Coast Federal's status report contemplates the
filing of revised expert reports by Coast Federal's expert witnesses, the
deposition of such experts regarding their revised reports by the government,
the filing of revised reports by the government's expert witnesses and, finally,
the deposition of the government's experts regarding their revised reports by
Coast Federal. Coast Federal's status report suggests that the time period
needed to complete the proposed schedule could be as much as approximately ten
months from the date that Judge Hewitt adopts such a schedule, but the status
report also contemplates the possibility that a shorter period may be feasible.

          The government argues in its status report that, in light of the
Order, every element of damages asserted by Coast Federal in the reports of its
expert witnesses is invalid and inadmissible and that the Claims Court should
deny any motion by Coast Federal seeking leave to file revised expert witness
reports.  The government argues that a dismissal of the Litigation by the Claims
Court is appropriate, after which Coast Federal can appeal such dismissal.  The
government's status report includes proposed schedules for the filing of briefs
and reply briefs on Coast Federal's motion for interlocutory appeal, on the
government's motion for reconsideration and clarification of the Order, filed on
January 16, 2001, (if the Court should want a responsive brief) and on a motion
which the government anticipates that Coast Federal may file for "leave to
present new damage claims."  The schedules proposed by the government
contemplate that oral argument on all motions would occur on March 21, 2001.

          The Trust is unable to predict when Judge Hewitt will issue an order
specifying how the Litigation is to proceed in response to the positions of the
parties articulated in their respective status reports.

          As disclosed by the Trust in prior filings with the Securities and
Exchange Commission, there can be no assurance that Coast Federal will obtain
any monetary or other recovery in the Litigation.  As discussed in such filings,


no judge in any of the Winstar related cases which have gone to trial has made
an award for lost profits damages, which is one of the primary theories of
damages for which Coast Federal is currently seeking a recovery. Further, in
only one of the seven cases in which a judgment has been entered after a trial
on damages, Glendale Federal Bank v. United States, Claims Court Docket No. 90-
772C (the "Glendale Case"), has an award been granted that is in excess of $40
million.

          If upheld on eventual appeal, Judge Hewitt's ruling in the Order that
Coast Federal's capital credit did not constitute a permanent credit to its
regulatory capital, as well as Judge Hewitt's determination that the capital
credit is required to be amortized over 12.7 years rather than 25 years,
significantly increases the possibility of a monetary recovery to Coast Federal
which would be below an amount sufficient to provide a payment by the Trust to
certificateholders. Judge Hewitt's ruling, if upheld on appeal, would also
greatly reduce the damages amounts that Coast Federal will likely be able to
seek in the Litigation as compared with the damages amounts set forth in Coast
Federal's expert witness reports previously filed with the Claims Court.

          The Trust, established as part of the transaction pursuant to which
Coast Savings Financial, Inc. ("Coast Savings"), merged with and into H.F.
Ahmanson & Co., holds Ahmanson's or its successor's commitment to pay the Trust
the net after-tax proceeds, if any, received by Coast Federal, or its successor,
in the Litigation. Certificates representing undivided interests in the assets
of the Trust, and therefore interests in Ahmanson's commitment, were publicly
issued by the Trust to the holders of Coast Savings' common stock immediately
prior to the effectiveness of Coast Savings' merger with Ahmanson on February
13, 1998. The certificates trade on The NASDAQ National Market under the symbol
CCPRZ.##