Exhibit 99


FOR IMMEDIATE RELEASE                   MONDAY, OCTOBER 12, 1998
                                                8:00 A.M. EST



Life Financial Terminates FirstPlus Merger Agreement


Life Financial Corporation today announced that on Friday, October 9, 1998 it 
had advised FirstPlus Financial Group, Inc. that it was terminating the 
Agreement and Plan of Merger by and between Life and FirstPlus dated March 11, 
1998.  Daniel L. Perl, President and Chief Executive Officer of Life Financial 
Corporation, commented "Our Board of Directors determined that it was in the 
best interest of our stockholders to no longer continue with this merger based 
upon certain actions and recent developments concerning FirstPlus."

Life Financial Corporation is traded on the Nasdaq Stock Market under the symbol
"LFCO".  Life Financial is the holding company for Life Bank and Life Capital 
Markets.