First American Financial's principal subsidiary, First American Title Insurance ...


May 1, 1997, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NYSE: FAF) announced today that its principal subsidiary, First American Title Insurance Company, has acquired Hillam Title Agency from co-owners Brent Kirkland and Brad Mortensen, according to Parker S. Kennedy, president of First American.

"This acquisition will further expand the presence of First American's direct operations in Utah and will serve to increase our statewide title and escrow service," said Lane Gidney, president of First American Title Company of Utah and regional vice president for First American Title Insurance Company. Hillam Title Agency serves Box Elder County and Cache County.

Clark Hillam acquired the title company in 1947. It was known as Hillam Abstracting and Insurance Agency until he changed its name to Hillam Title Agency in 1961. In 1982, he sold the company to Brent Kirkland and a partner. Eight years later, Brad Mortensen, who had been working for the company as a title officer since 1987, bought out the partner's interest in the company and joined Kirkland as co-owner.

Until further notice the company will be known as First American Title Company of Utah d.b.a. Hillam Title Agency. The company's 15 employees will continue with the operations. Brent Kirkland, a 20-year veteran of the title industry, will work out of the Tremonton office as a county manager. Brad Mortensen will also become a county manager, and will work out of the Brigham City office. Both Kirkland and Mortensen will serve as co-county managers for Box Elder County.

The First American Financial Corporation, based in Santa Ana, California, is the nation's leading provider of real estate-related financial and informational services. The corporation's subsidiaries include First American Title Insurance Company, a national and 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; First American Home Buyers Protection Corporation, a home warranty company; and First American Capital Management, an investment firm. The corporation also operates First American Trust Company and First Security Thrift Company in Southern California. First American Financial has more than 10,000 employees in over 400 branch offices in the United States and abroad. Information about the company's subsidiaries and an archive of its press releases can be found at http://www.firstam.com on the Internet.

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