The First American Corporation Announces Stock Buy-Back Program

May 19, 2004

Board Authorizes Repurchase of Up to $100 Million in FAF Stock

SANTA ANA, Calif., /PRNewswire-FirstCall/ -- The board of directors the First American Corporation (NYSE: FAF) has approved the repurchase of up to $100 million of the company's currently issued and outstanding common shares. Purchase of shares will be made from time to time in open market transactions at prevailing prices. The amount and timing of any share repurchases will depend on, among other factors, the market performance of the shares; the availability of, and alternative uses of, the company's funds; and Securities and Exchange Commission regulations.

"The current market price of our stock does not begin to reflect our success in transforming First American into a diversified provider of data and data-related products and services," stated Parker S. Kennedy, chairman and chief executive officer of The First American Corporation. "Given our current stock price and growth prospects, we believe a repurchase of our shares represents an excellent investment opportunity."

Source: The First American Corporation


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. 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.