First American Title Insurance Company acquires Donegan Abstract in Texas


October 14, 1997, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NYSE: FAF) announced that its principal subsidiary, First American Title Insurance Company, purchased 100 percent of the issued and outstanding stock of The Donegan Abstract Company in Guadalupe County, Texas. According to Parker S. Kennedy, president of First American, the acquisition was completed on July 1, 1997.

The new acquisition, with offices in Schertz and Sequin, was merged into the San Antonio division of First American Title Insurance Company of Texas, and will retain its current staff of 14. Rick Radigan, division president for First American, has been named manager, and Robert Raetzsch, former owner of Donegan Abstract, has been named vice president-counsel of First American Title Insurance Company of Texas, San Antonio Division.

"It's a strategic acquisition for us," Radigan says. "Donegan has had a very successful history and the future outlook is tremendous. This enhances our present local operations."

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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