Troy X. Kelley appointed president of First American Exchange Corporation

October 6, 1998, SANTA ANA, CALIFORNIA

First American Title Insurance Company, one of the nation's largest title insurers, announced today that Troy X. Kelley has been named president of its wholly owned subsidiary, First American Exchange Corporation, a qualified intermediary for 1031 deferred tax exchanges of like-kind investment property. Kelley is responsible for exchange strategy and procedures at the 20 exchange company offices nationwide.

Kelley returned to First American Title Company of Los Angeles in 1993, serving as associate counsel, vice president-regional counsel and ultimately senior vice president-general counsel until his recent promotion. Previously, Kelley had worked at the U.S. Department of Justice, the U.S. Securities and Exchange Commission and in private practice in New York, Washington D.C. and San Diego, respectively. Kelley also worked for First American from 1984 until 1988 in various departments including mail room, customer service, searching, examining, title and legal in Los Angeles and Santa Ana.

Kelley holds a bachelor's degree from the University of California at Berkeley, and a juris doctor and master of business administration from the State University of New York at Buffalo. Kelley is a licensed California real estate broker, and admitted to practice law before the courts of California, New York, the District of Columbia and the U.S. Tax Court. Kelley also serves as chair of a legislative subcommittee of the California Land Title Association and serves on a steering committee of the Los Angeles Bar Association. While at Buffalo, Kelley was editor-in-chief of In the Public Interest Law Journal and executive director of the Jessup Moot Court Board. He has served as a public service project director for the United Way in Berkeley.

A native Californian, Kelley resides in the city of Pasadena with his wife, Diane.

First American Title Insurance Company, principal subsidiary of The First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through a network of more than 300 offices and 4,000 agents throughout the United States and abroad. The company has its headquarters in Santa Ana, California.


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