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MFN Names Weeden CEO Designate

November 7, 2000

MFN Financial Corporation has announced that Jeffrey B. Weeden, president and chief operating officer, has been elected chief executive officer and a director of the company, effective January 1, 2001.

Edward G. Harshfield, chairman and chief executive officer, will continue

as executive chairman.

In making the announcement Harshfield said, "the Company has made substantial progress during the past two years, and Jeff and I have worked in a great partnership relationship for the results that have been reflected. He has proven his ability to lead the organization. The Board and I are pleased

and look forward to supporting his efforts as we solidify succession management and continue our focus on maximizing shareholder value."

About MFN Financial Corporation

MFN Financial Corporation, with headquarters in Lake Forest, Ill., is a consumer finance company whose principal subsidiaries operate as Mercury Finance Company

Mercury Finance Company provides specialized, individual financing for automobile nonprime credit buyers through automobile dealerships

and offers credit insurance and other related products directly to consumers.

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