First American purchases Klamath County Title Co.


May 20, 1997, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NYSE: FAF) announced today that its principal subsidiary, First American Title Insurance Company, has purchased Klamath County Title Co. from owner Robert Veatch. Previously, it had been operating as an agent of First American's Oregon state office.

The company will retain its present name and staff, with Trudie Durant being named as county manager, and Robert Veatch continuing as a consultant until 1998.

One of the oldest operating title companies in Oregon, Klamath County Title was started in 1905 as Klamath County Abstract Company, by Don Zumwalt, Allen Sloan and Bert Withrow. The company prepared abstracts until 1927, when it began issuing title insurance policies as an agent for Pacific Abstract & Title Co.

The company was purchased in 1924 by Elbert Veatch. His son, Robert, joined the company in 1946. After Elbert Veatch's death in 1959, the company's name was changed to Klamath County Title Co., and Robert became president and CEO. In 1969, it became an agent of what is now known as First American Title Insurance Company of Oregon.

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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