VENDOR MANAGEMENT SERVICES, INC. ANNOUNCES APPOINTMENTS TO THREE KEY POSITIONS


April 24, 2001, MINNEAPOLIS

Vendor Management Services, Inc. (VMS) today announced the appointments of Neil Ackley as chief financial officer, Patrick Weaver as vice president of product management and Molly Holden as vice president of project management.  VMS is a wholly owned subsidiary of The First American Corporation (NYSE: FAF).

Ackley will join VMS while continuing to serve as controller and chief financial officer of First American Lenders Advantage.  He will be responsible for setting up and maintaining VMS as a corporation in good standing and planning for future expansion and rollouts of joint ventures.

Prior to joining First American, Ackley spent four years as the chief financial officer for Transcom, a privately held business-to-business company serving the trucking industry. Previously, he worked for Deloitte & Touche in Columbus, Ohio, for four years, where he rose to the position of manager. Ackley, who is a certified public accountant, received a bachelor’s degree in business and accounting from Miami University.  He lives in Newport Beach, Calif.

Weaver will support the evaluation and implementation of strategic product technologies and solutions for VMS and provide tactical support in the development and extension of The Vendor Managerä, VMS’ product technology platform that enables clients to electronically order, track, receive and pay for real estate-related products and services through a single technology channel.

Weaver joined VMS after having served as director of technology product management at Ellie Mae, Inc., the leading provider of Internet solutions for the mortgage industry.  Weaver received bachelor’s degrees in management and marketing from the University of Phoenix.  He lives in Concord, Calif., with his wife, Kathy, and their four children.

Holden will be responsible for the project management team, which handles client, vendor and strategic alliance implementations for VMS.  Prior to joining VMS, she served as project manager for RELS Title Services LLC, helping to create the RES-direct vendor platform.  RES-direct is a joint venture between VMS and Wells Fargo that provides a Web-based solution for ordering, service management and delivery of real estate-related products and services.  

From 1995 to1999 Holden worked for Norwest Mortgage, the nation’s leading mortgage lender, first as an operations supervisor and later as an operations trainer.  She received a bachelor’s degree from the University of Minnesota in speech communication, and is now residing in Carlsbad, Calif.

Vendor Management Services, Inc. provides national mortgage lenders with a complete menu of solutions designed to reduce the cost of their operations, enhance the performance of their vendors and create new sources of revenue that add to the lenders’ net earnings. Information on VMS’ Bottom Line Solutions, which includes technology, workflow management, vendor management and new revenue generation, can be found on the company’s Web site at www.tvmsi.com.

The First American Corporation, based in Santa Ana, Calif., is the nation’s leading, diversified provider of business information and related products and services. The corporation’s three primary business segments include: title information and services; real estate information and services, which includes mortgage information services and database information and services; and consumer information and services, which provides automotive, subprime and direct-to-consumer credit reporting; resident screening; pre-employment screening; property and automotive insurance tracking services; property and casualty insurance; home warranties, 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 www.firstam.com.

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