First American Financial completes acquisition of Data Tree


June 3, 1998, SANTA ANA, CALIFORNIA

The First American Financial Corporation (NYSE: FAF) announced today that it has completed its agreement to acquire by merger Data Tree Corporation and will issue to Data Tree shareholders, in aggregate, 632,006 First American Financial shares.

First American believes the transaction will be accretive to its earnings.

"We are very pleased to welcome Data Tree and Harish Chopra to our company," said Parker S. Kennedy, president of The First American Financial Corporation. "This is a very important acquisition for First American and we look forward to expanding our imaged document business."

Data Tree is a California company in the business of providing database management and document imaging systems to county recorders, governmental agencies and the title industry. Harish Chopra will continue to serve as president. Founded in 1988, Data Tree’s headquarters are in San Diego, California, and it has additional offices in Arizona, Nevada, Texas and Florida.

The First American Financial Corporation, based in Santa Ana, California, is the nation’s leading provider of real estate-related financial and information 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, property data services, flood certification, field inspection services, appraisal services, mortgage loan servicing systems, and mortgage document preparation nationally; First American Home Buyers Protection Corporation, a home warranty company; and First American Capital Management, an investment advisory firm. The Corporation also operates First American Trust Company and First Security Thrift Company in Southern California. First American Financial has more than 13,000 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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