Prospectus Supplement No. 25
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
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NatWest Securities Corporation (1) $4,175,000
175 Water Street, 19th Floor
New York, NY 10038
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(1) NatWest Securities Limited, an affiliate of the above-named Selling
Security Holder, served as a Manager in the offering of the Company's 5.5%
Convertible Subordinated Debentures due 2006 pursuant to a Subscription
Agreement dated February 16, 1996.
The date of this Prospectus Supplement is September 16, 1997.
