Hawthorne Savings Announces New Home Advantage Equity Line

Hawthorne Savings Announces New Home Advantage Equity Line 


EL SEGUNDO, Calif., Feb. 6  /PRNewswire-FirstCall/ -- Hawthorne Savings, F.S.B.
("Hawthorne"), a subsidiary of Hawthorne Financial Corporation , announces the
availability of the Home Advantage Equity Line, the newest addition to the
Bank's product portfolio.  Home Advantage offers customers the opportunity to
borrow against the equity in their homes in amounts from $10,000 to $250,000 --
the difference between what the property is worth and what is still owed.

Hawthorne offers borrowers several special benefits with Home Advantage Equity
Line: no application fees*; free checks**; no annual fee assessed for one
year***; no minimum draw; and 24/7 online access to account information. Home
Advantage Equity Line makes debt consolidation easy with an interest rate lower
than most credit cards and loan payments may also be tax-deductible(1).
Potential borrowers are invited to pick up an application at any of Hawthorne's
15 branches or to call their loan specialists at 1-800-838-0277.

Hawthorne Savings strives to make a positive impact on the lives of those people
that live and work in the communities surrounding its branches by creating a
friendly and customer-service-based atmosphere and by partnering with many
community-enrichment programs and non-profit organizations. Integral to these
relationships, the Bank encourages employees to volunteer at community events
around Southern California.  Hawthorne has a special 3-year relationship with
the Estelle Van Meter Multipurpose Center and Youth Opportunities Unlimited, and
maintains other long-term partnerships including Operation HOPE, Inglewood
Neighborhood Housing Services, St. Margaret's Center and the Richstone Family
Center.  Hawthorne also sponsors a special honor roll program, scholarships and
a summer reading program for children.

About Hawthorne Savings

Hawthorne Savings, F.S.B., an El Segundo, California-based financial
institution, and federally-chartered savings bank, was incorporated in 1950 and
commenced operations on May 11, 1951.  The Bank's 15 full-service retail
branches are located in the coastal communities of Southern California, from
Westlake Village to Mission Bay in San Diego, with its newest branches located
in Baldwin Hills and Irvine.  Hawthorne Savings maintains a strong presence in
the South Bay region of Los Angeles County and was voted 'Best Bank in the South
Bay' for three of the last four years.  Hawthorne also offers construction and
permanentfixed and adjustable rate loan programs for single-family,
multi-family, income and commercial properties in Southern California.  For more
information, please call 888-TRUE-411 or visit the bank online at
http://www.hawthornesavings.com/ .

Annual Percentage Rate (APR).  This account has a variable rate feature. Current
rate is 4.00% with a 4.00% APR as of February 1, 2004.  Rate subject to change
without notice.  Maximum APR is 18%.  Property insurance is required.

*An appraisal fee of approximately $300 may be charged which must be paid by
check prior to opening the account.  If account is closed before the third
anniversary of the opening of the account, an Early Closure Fee of $500 will be
assessed.

**First box of checks is free.  There is anominal charge for subsequent boxes
of checks.

***An annual fee of $50.00 will be imposed beginning on the first anniversary of
the opening of your Account and on each anniversary thereafter during the Draw
Period.

(1) Please consult your tax advisorregarding tax deductibility 

DATASOURCE: Hawthorne Savings, F.S.B.



CONTACT:  Michelle Menna, Marketing Liaison of Hawthorne Savings, F.S.B.,

[phone]



Web site:  http://www.hawthornesavings.com/ 

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