LandAmerica Expands Commercial Services; Acquires Due Diligence Firm

August 2, 2002

RICHMOND, Va., /PRNewswire-FirstCall/ -- LandAmerica Financial Group, Inc. (NYSE: LFG), a provider of real estate transaction services, announces that it has acquired the assets of National Assessment Corporation (NAC), a full service real estate due diligence firm specializing in engineering, construction and environmental assessments associated with commercial real estate acquisition, finance and surveillance. Headquartered in Alameda, California, NAC, utilizing a network of over 300 professional associates, provides environmental site and property condition assessments and real estate loan services throughout the country.

NAC will operate as a part of LandAmerica's National Commercial Services group. According to Jeffrey C. Selby, LandAmerica executive vice president- national commercial services, "The acquisition of NAC affirms LandAmerica's commitment to expanding its service offerings to meet the needs of its commercial customers. By providing a comprehensive menu of due diligence products, LandAmerica now offers a broader line of commercial services in addition to its traditional title insurance, appraisal and closing activities."

Jan Alpert, president of LandAmerica said, "Our company has long been recognized as a leader in facilitating large complex commercial transactions. We are pleased to be able to bring to our commercial customers a broader array of services which will help reduce the amount of uncertainty in their commercial transactions."

According to Timothy Conner, NAC's president, CEO and co-founder, "This is a good strategic fit for both companies. It also represents the next stage in the growth of NAC for our principals and employees." Charles Victor, executive vice president and co-founder, will continue to direct the company's operations. NAC's current clients include real estate investment trusts, insurance companies, commercial mortgage-backed securities originators, and commercial mortgage and construction lenders.

Source: LandAmerica Financial Group, Inc.

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North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.