Inspectech Acquires Indiana-based Home Inspection Company

March 13, 2003

ATLANTA, /PRNewswire-FirstCall/ -- Inspectech, a division of LandAmerica Financial Group, Inc. (NYSE: LFG), has acquired C.W. Schnepf & Associates (CWSA), an Indiana-based home inspection company.

Inspectech, headquartered in Atlanta, Georgia, is the nation's second largest home inspection company providing commercial and residential inspections throughout Northern and Southern California, Florida, Georgia, Indiana, Illinois, and New Jersey.

Located in Zionsville, Indiana, CWSA has been performing residential and commercial inspections since 1991, and is one of the larger firms in the area. The company's president Chris Schnepf will remain with the company and help execute Inspectech's growth plans in Indiana. The acquisition will not result in any major staffing changes.

Inspectech has been executing a controlled expansion strategy, which includes both organic growth and selected acquisitions in key markets. "The Indiana acquisition strengthens our presence in the Midwest where LandAmerica can offer a broad range of services," said Revell Fraser, who heads the inspection business for LandAmerica Financial Group. "This acquisition is consistent with our commitment to build a solid, reputable firm that can deliver real value to both real-estate professionals and consumers."

Source: LandAmerica Financial Group, Inc.