First American purchases Affiliated Title Company in Orem, Utah


August 21, 1996, SANTA ANA, CALIFORNIA

Affiliated Title Company in Orem, Utah, has been purchased by First American Title Insurance Company, the principal subsidiary of The First American Financial Corporation (NYSE: FAF). The company was purchased from C. Bryant Safford for an undisclosed amount of cash and notes.

Affiliated, which was an exclusive agent of First American, will become a branch office of First American Title Company of Utah. Safford has been named vice president-Utah County manager, and the rest of the staff, which includes five well-respected escrow officers, will also become First American employees.

Orem is located in Utah County, which is the second largest county in Utah. Affiliated has one of most comprehensive and accurate title plants in the county, and holds a number one market share position in the new construction and commercial segments of the real estate market.

"The acquisition of Affiliated Title Company, Inc., will help us in expanding our presence and customer service in Utah County, one of Utah's most rapidly growing areas," said Lane Gidney, president of First American Title Company of Utah. "Affiliated Title is a well-run, well-managed company and will enhance our Number 1 position in Utah. We look forward to having them on our team."

This acquisition further expands First American's extensive Utah branch network. Last year, First American added branches in four Utah counties through the purchase of Security Title Company of Southern Utah, which had operations in St. George, Cedar City, Fillmore, and Richfield.

The First American Financial Corporation, based in Santa Ana, California, is the nation's leading provider of real estate-related financial and informational services. Subsidiaries include First American Title Insurance Company, an international title insurer, First American Real Estate Information Services, Inc., which offers tax monitoring, credit reporting, flood certification, mortgage loan servicing systems and property information services nationally, and First American Home Buyers Protection Corporation, a home warranty company. The corporation also operates trust and banking operations in Southern California. First American Financial has more than 10,000 employees in over 400 offices in the United States and abroad.

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