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EXHIBIT 99.1
LIBERTE INVESTORS NEWS RELEASE
FOR IMMEDIATE RELEASE Contact: Bradley S. Buttermore
(214) 720-8920
LIBERTE INVESTORS ANNOUNCES REORGANIZATION
INTO A DELAWARE CORPORATION AND SALE OF SHARES
DALLAS, TEXAS -- August 16, 1996 -- Liberte Investors Inc. (NYSE/LBI)
announced today that at its Special Shareholders' Meeting held August 15, 1996,
the shareholders approved an amendment to Liberte's Declaration of Trust
permitting it to reorganize into a Delaware corporation, the reorganization of
Liberte from a Massachusetts business trust into a Delaware corporation, and
the sale of 8,102,439 newly issued shares of common stock to Hunter's
Glen/Ford, Ltd., an affiliate of Mr. Gerald J. Ford.
Today, Liberte consummated its reorganization into a Delaware
corporation and closed the sale of the shares to Mr. Ford's affiliate.
Accordingly, Mr. Ford's affiliate now owns approximately 40% of the outstanding
shares of Liberte. In connection with the sale, Mr. Ford became a director of
Liberte and its Chief Executive Officer.
Additionally, Liberte announced earnings per share and net income
results as follows:
Quarter Ended June 30
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1996 1995
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Net Income (Loss) $20,890 $(99,824)
Earnings Per Share --- $(0.01)
Average shares outstanding 12,153,658 12,153,658
Fiscal Year Ended June 30
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1996 1995
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Net Income (Loss) $835,367 $(2,867,579)
Earnings Per Share $0.07 $(0.23)
Average shares outstanding 12,153,658 12,322,773