JACKSONVILLE, Fla., Aug. 2 /PRNewswire-FirstCall/ -- Fidelity NationalFinancial, Inc. (NYSE: FNF), a leading provider of title insurance,specialty insurance and claims management services through a portfolio ofcompanies, today announced that it has acquired Property Insight, LLC("Property Insight"), a leading provider of title plant managementservices, from Fidelity National Information Services (NYSE: FIS). Property Insight primarily manages, maintains and updates the titleinsurance plants that are owned by FNF, as well as managing potential titleplant construction activities for FNF. It also provides title plantmanagement services for several national underwriters and numerous smallerunderwriters. Its TitlePoint system is a Web browser-based applicationdesigned to link title plants across the country, providing its customerswith enhanced capabilities and greater efficiency. Property Insightprimarily maintains title plants in populous states, such as California,Florida, Texas, Illinois, Arizona, Washington and Nevada, as well as anumber of smaller states. "With the November 2006 separation of FNF and FIS, we believe thatProperty Insight is a better strategic fit at FNF," said Chairman WilliamP. Foley, II. "Owning Property Insight provides FNF with complete ownershipand control of its vital title plant assets." The transaction and all terms were approved by the disinteresteddirectors of the Board of Directors of FNF. The purchase priceconsideration of $95 million will be paid in cash. The transaction isexpected to be completed during the third quarter of 2007, subject tocertain regulatory approvals and customary closing conditions. Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider oftitle insurance, specialty insurance and claims management services. FNF isone of the nation's largest title insurance companies through its titleinsurance underwriters -- Fidelity National Title, Chicago Title, TicorTitle, Security Union Title and Alamo Title -- that issue approximately 28percent of all title insurance policies in the United States. FNF alsoprovides flood insurance, personal lines insurance and home warrantyinsurance through its specialty insurance business. FNF also is a leadingprovider of outsourced claims management services to large corporate andpublic sector entities through its minority-owned subsidiary, Sedgwick CMS.More information about FNF can be found at http://www.fnf.com. This press release contains forward-looking statements that involve anumber of risks and uncertainties. Statements that are not historicalfacts, including statements about our beliefs and expectations, areforward-looking statements. Forward-looking statements are based onmanagement's beliefs, as well as assumptions made by, and informationcurrently available to, management. Because such statements are based onexpectations as to future economic performance and are not statements offact, actual results may differ materially from those projected. Weundertake no obligation to update any forward-looking statements, whetheras a result of new information, future events or otherwise. The risks anduncertainties which forward-looking statements are subject to include, butare not limited to: changes in general economic, business and politicalconditions, including changes in the financial markets; adverse changes inthe level of real estate activity, which may be caused by, among otherthings, high or increasing interest rates, a limited supply of mortgagefunding or a weak U. S. economy; our potential inability to find suitableacquisition candidates, acquisitions in lines of business that will notnecessarily be limited to our traditional areas of focus, or difficultiesin integrating acquisitions; our dependence on operating subsidiaries as asource of cash flow; significant competition that our operatingsubsidiaries face; compliance with extensive government regulation of ouroperating subsidiaries; and other risks detailed in the "StatementRegarding Forward-Looking Information," "Risk Factors" and other sectionsof the Company's Form 10-K and other filings with the Securities andExchange Commission.
