First American closes on 705 properties of ExxonMobil Corporation

March 24, 2000, SANTA ANA, Calif.

The First American Financial Corporation (NYSE: FAF), the nation's leading provider of business information and related products and services, today announced that the Houston National Accounts division of its largest subsidiary, First American Title Insurance Company, has closed on 705 properties of the ExxonMobil Corporation. The closing is part of a Federal Trade Commission-mandated liquidation of assets in ExxonMobil Corporation's agreement to sell its Northeast and Mid-Atlantic service stations and supply arrangements to Tosco Corp., a refiner and marketer of petroleum products.

The underwriters in Houston were led by members of the Santa Ana, Calif., and Boston National Accounts underwriting staff and were assisted by underwriters from the states involved in the transaction. The closing process began in mid-February and within 14 days First American closed the transaction, which will result in the issuance of approximately 1,500 title policies by First American and its agents for a total liability in excess of $1 billion on more than 700 properties located in Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Washington D.C. and Virginia.

ExxonMobil Corporation is a leading global oil, natural gas and petrochemicals company with subsidiaries operating in approximately 200 countries. ExxonMobil Corporation was formed by the merger of Exxon and Mobil on November 30, 1999.

First American's National Accounts division offers expert handling of highly complex multiproperty, multicounty and multistate commercial/industrial real-estate transactions throughout the country. Staffed by underwriting teams who are fully empowered to make decisions throughout the country, National Accounts offers clients who begin transactions in one office the assurance of being able to deal with that same office no matter where their properties are located. First American's National Accounts division offers the title underwriting, escrow closing and coordinating services vital to processing multimillion-dollar, commercial/industrial real-estate transactions throughout the country.

The First American Financial Corporation, based in Santa Ana, Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance; real estate information and services, which includes mortgage information services and database information and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at