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


September 3, 1997, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NYSE: FAF) announced today that its principal subsidiary, First American Title Insurance Company, has purchased three title companies in the Peoria, Illinois, area, according to President Parker S. Kennedy. Illini Title Services, Inc., Pekin Abstract & Title Company and Woodford County Abstract & Title will retain their current names and operate as direct operations of the company.

"First American has always done well in Illinois," says Kennedy. "With these new acquisitions we will increase our agency revenue and establish ourselves as the primary title company in the Peoria area. We will also enhance our agency support services throughout central Illinois."

Illini Title Services, Inc., was established in 1985 by Duane and Joan Serck and is a former agent of First American. The company employs a staff of 30. Jan Raney has been promoted to manager. Duane Serck will stay on as counsel for First American and will also be responsible for various downstate projects. Joan Serck, the former manager, will continue handling the company's marketing activities.

Pekin Abstract & Title Company, previously an exclusive agent of Chicago Title for 50 years, has offices in Tazwell and Mason counties. The company operates with a staff of 12 employees with Fred Luke as manager.

Woodford County Abstract & Title, a former agent of First American, operates out of Eureka, the Woodford county seat. Beth Brush will serve as manager of the nine-employee office.

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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