Capital Title Group Subsidiary Acquires Flood Zone Determination Business.SCOTTSDALE, Ariz. -- Capital Title Group, Inc. (Nasdaq:CTGI CTGI Capital Title Group Inc ) named for a second consecutive year in FORTUNE'S 100 Fastest Growing Companies in America in 2005 -- is a national provider of title, appraisal, flood and other transaction services to the real estate and mortgage lending industries. The company today announced that its subsidiary, CTG CTG Cartridge CTG Center for Technology in Government (SUNY, Albany, New York) CTG Center for Technology in Government CTG Computer Task Group (IT consulting company; Buffalo, NY, USA) Real Estate Information Services See Information Systems. (CTG REIS n. 1. The word is used as a Portuguese designation of money of account, one hundred reis being about equal in value to eleven cents. 1. A common title in the East for a person in authority, especially the captain of a ship. ), has acquired the flood zone determination business of America's Flood Services, Inc. (AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System ), a Rancho Cordova Rancho Cordova (răn`chō kôrdō`və), uninc. residential city (1990 pop. 48,731), Sacramento co., N Calif. A suburb of Sacramento, it experienced rapid growth in the late 20th cent. , California-based company. AFS has been serving the lending industry since 1989 providing both flood zone determination and flood insurance services. The flood zone determination business segment acquired from AFS will be merged into Nationwide TotalFlood, a service subsidiary of CTG REIS. AFS will retain their core business unit, Flood Insurance Agency and Insurance Tracking. "The flood zone determination business segment of AFS is a solid, well-managed business," said Richard A. Alexander, president and chief executive officer of CTG REIS. "This acquisition provides us with an enhanced revenue base and will allow us to provide these newly acquired customers access to a full bundle of origination services including appraisal, title, closing and foreclosure services, all available through Nationwide Appraisal Services, another service subsidiary of CTG REIS." John Gibson, president of America's Flood Services commented, "We have been utilizing the Nationwide TotalFlood system for the past two years to handle our customer's flood zone determinations and have been very impressed with their service and accuracy. We feel this is a good time for us to divest this segment of our business and concentrate on our flood insurance agency." Headquartered in Scottsdale, Arizona, Capital Title Group, Inc. through its subsidiaries offers services throughout the United States for title insurance, appraisal and valuation services, and other related services to residential and commercial customers in the real estate and mortgage lending industries. Subsidiary companies include -- Capital Title Agency, New Century Title Company, United Title Company, First California Title Company, Land Title of Nevada, CTG Real Estate Information Services, Nationwide Appraisal Services, Nationwide TotalFlood Services, Inc., NAC See network access control. 1031 Exchange Services, 1031 ExchangePoint, Inc. and AdvantageWare -- with strategically located offices in Arizona, California, Nevada, Pennsylvania and Texas. The Company is also licensed to issue and underwrite title insurance policies in Arizona, California, Florida, Nevada, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pennsylvania and Texas through United Capital Title Insurance Company. The combined companies have in excess of 2,500 employees. Visit our web sites for more information on the Company and its subsidiaries: www.capitaltitlegroup.com www.capitaltitle.com www.nationwide-totalflood.com www.landtitlenv.com www.nationwidesolution.com www.unitedtitle.com www.newcenturytitle.com www.firstcal.com www.awiware.com www.nascopgh.com www.nac1031.com www.1031exchangepoint.com Certain statements in this release may be "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. Some of the important factors that could cause the company's actual results to differ materially from those projected in forward-looking statements made by the company include, but are not limited to, the following: fluctuations in interest rates that can affect operating results, intense competition, past and future acquisitions, expanding operations into new markets, risk of business interruption, management of rapid growth, need for additional financing, changing customer demands, dependence on key personnel, sales and income tax uncertainty and increasing marketing, management, occupancy and other administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. . These factors are discussed in greater detail in the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2004, as filed with the Securities and Exchange Commission. |
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