Capital Title Announces Agreement to Acquire Nationwide Appraisal Services

January 27, 2004

SCOTTSDALE, Ariz., /PRNewswire-FirstCall/ -- Capital Title Group, Inc. (Nasdaq: CTGI) -- a title agency, title insurance underwriter and provider of real estate-related services, announced today the signing of a definitive agreement to acquire Nationwide Appraisal Services Corporation, headquartered near Pittsburgh, Pennsylvania.

Nationwide provides appraisal and valuation services to customers in the mortgage lending and real estate industries throughout the United States. Nationwide is also licensed as an agent to issue title insurance policies in 35 states.

The acquisition of Nationwide significantly expands the geographic scope of Capital Title's operations, as well as the breadth of bundled real estate settlement services that Capital can offer to its lending and real estate clients.

Terms of the acquisition call for payment of $25 million in cash at closing, with deferred payments of up to $3 million dependent upon specified conditions. The acquisition is subject to customary closing conditions, including receipt of all necessary regulatory approvals.

Soure: Capital Title Group, Inc.

Contact ALTA at 202-296-3671 or

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.