Prospectus Supplement No. 22
The Prospectus dated November 14, 1996 (the "Prospectus")
relating to the offer for resale of up to $115,000,000 aggregate
principal amount of 5.5% Convertible Subordinated Debentures due
2006 of Aames Financial Corporation (the "Company") and 6,160,713
shares of the common stock of the Company, par value $0.001 per
share, into which such Debentures are convertible is hereby
amended as follows:
The following entity is hereby named as a Selling Security Holder
as contemplated on page 33 of the Prospectus:
Selling Security Holder Principal Amount of Debentures
- ----------------------- ------------------------------
The Hotel Union - $45,000
ILWU Pension Trust
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Equitable Life Assurance $1,165,000
Separate Account Convertibles
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Memphis Light, Water & Gas Retirement Fund $460,000
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
The Hotel Union & Industry of Hawaii $150,000
c/o Susan Olifiers,
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Columbia / HCA Money Purchase Plan $345,000
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
The Frist Foundation $120,000
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Equitable Life Assurance $ 80,000
Separate Account Balanced
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Hudson River Trust Balanced Account $465,000
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Hudson River Trust Growth Investors $370,000
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
Hudson River Trust Growth & Income Account $290,000
c/o Susan Olifiers
Alliance Capital Management
1345 Avenue of the Americas, 40th Floor
New York, New York 10105
The date of this Prospectus Supplement is May 30, 1997.
