The First American Financial Corporation announces the public offering of 1,850,000 ...


October 26, 1992, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NASDAQ: FAMR) announced today the public offering of 1,850,000 shares of its common stock at an offering price of $18 per share. The company's registration statement in connection with the offering was declared effective by the Securities and Exchange Commission on October 22, 1992. Smith Barney; Harris Upham & Co.; Merrill Lynch & Co.; and Van Kasper & Company, the underwriters for the offering, have been granted an over-allotment option to purchase up to an additional 277,500 shares.

The company plans to use the proceeds of the offering for general corporate purposes including increasing the statutory capital and liquidity of First American in order to enhance its competitive position and, as opportunities arise, acquiring title insurance operations and/or related businesses.

Assuming the over-allotment option is not exercised, total shares outstanding will increase from 9,181,000 to 11,031,000.

A written prospectus containing additional information about the company and the offering may be obtained by contacted Mark R Arnesen, Secretary, The First American Financial Corporation, 114 East Fifth Street, Santa Ana, California 92701.

The First American Financial Corporation, based in Santa Ana, Calif., is a leading provider of real estate financial services, including title insurance, tax monitoring and home warranty services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California.

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