GREAT WESTERN FINANCIAL CORP
DEFA14A, 1997-03-04
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                         SCHEDULE 14A INFORMATION

Revocation Statement Pursuant to Section 14(a) of the Securities Exchange Act
of 1934

Filed by the Registrant {X}

Filed by a Party other than the Registrant {_}

Check the appropriate box:
{_}Preliminary Proxy Statement (Revocation of Consent Statement)
{_}Definitive Proxy Statement (Revocation of Consent Statement)
{_}Definitive Additional Materials
{X}Soliciting Material Pursuant to (S)240.14a-11(c) or (S)240.14a-12

                   GREAT WESTERN FINANCIAL CORPORATION
                -----------------------------------------
             (Name of Registrant as specified in its charter)

                   GREAT WESTERN FINANCIAL CORPORATION
                -----------------------------------------
                (Name of person(s) filing proxy statement)

Payment of Filing Fee (Check the appropriate box):
{X}     No fee required.
{_}     Fee computed on table below per Exchange Act Rules 14a-6(i)(1) 
        and 0-11.
(1)     Title of each class of securities to which transaction applies:
(2)     Aggregate number of securities to which transaction applies:
(3)     Per unit price or other underlying value of transaction computed 
        pursuant to Exchange Act Rule 0-11:  _____________________________
(4)     Proposed maximum aggregate value of transactions: ________________
(5)     Total fee paid.

- -------------
{_}     Fee paid previously with preliminary materials.

{_}     Check box if any part of the fee is offset as provided by
        Exchange Act Rule 0-11(a)(2) and identify the filing for which
        the offsetting fee was paid previously. Identify the previous
        filing by registration statement number, or the Form or Schedule
        and the date of its filing.

(1)     Amount Previously Paid:  _________________________________________
(2)     Form, Schedule or Registration Statement No.: ______________________
(3)     Filing Party:  _____________________________________________________
(4)     Date Filed:    _____________________________________________________




                                                        IMMEDIATE RELEASE
                                                            March 3, 1997


Contact:       Ian Campbell (818) 775-3773
               Charlie Coleman (818) 775-3766


           GREAT WESTERN SETS CONSENT SOLICITATION RECORD DATE

        CHATSWORTH, Calif. -- Great Western Financial Corporation
(NYSE: GWF) today announced that it has set March 13, 1997 as the record
date for the consent solicitation inititated by H.F. Ahmanson & Company.

        With assets of $42.9 billion, Great Western Financial Corporation
is a diversified financial services company operating more than 1,150
mortgage lending, retail banking, and consumer finance offices
nationwide. Great Western's principal subsidiary, Great Western Bank, is
a mortgage-oriented consumer bank with banking branch networks in
California and Florida.

        Great Western and certain other persons named below may be deemed
to be participants in the solicitation of revocations of consents in
response to Ahmanson's consent solicitation. The participants in this
solicitation may include the directors of Great Western (James F.
Montgomery, John F. Maher, Dr. David Alexander, H. Frederick Christie,
Stephen E. Frank, John V. Giovenco, Firmin A. Gryp, Enrique Hernandez,
Jr., Charles D. Miller, Dr. Alberta E. Siegel and Willis B. Wood, Jr.);
the following executive officers of Great Western: J. Lance Erikson
(Executive Vice President, Secretary and General Counsel), Carl F.
Geuther (Vice Chairman and Chief Financial Officer), Michael M. Pappas
(Vice Chairman and President, Consumer Finance Division), A. William
Schenck III (Vice Chairman), Ray W. Sims (Executive Vice President), and
Jaynie M. Studenmund (Executive Vice President); and the following other
members of management of Great Western: Stephen F. Adams (First Vice
President, Associate General Counsel and Assistant Secretary), Bruce F.
Antenberg (Senior Vice President-Finance, Treasurer and Assistant
Secretary), Barry R. Barkley (Senior Vice President and Controller),
Ian D. Campbell (Senior Vice President), Charles Coleman (Vice
President, Great Western Bank), Allen D. Meadows (Senior Vice President,
Great Western Bank), and John A. Trotter (First Vice President, Great
Western Bank).

        As of the date of this communication, James F. Montgomery and
John F. Maher beneficially owned 605,488 shares and 611,762 shares of
Great Western common stock, respectively (including shares subject to
stock options exercisable within 60 days). The remaining participants do
not beneficially own, individually or in the aggregate, in excess of 1%
of Great Western's equity securities.





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