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FIRST AMERICAN ADOPTS NEW SECURITIES ACCOUNTING

 FIRST AMERICAN ADOPTS NEW SECURITIES ACCOUNTING
 NASHVILLE, Tenn., Sept. 1 /PRNewswire/ -- First American Corporation


(NASDAQ-NMS: FATN) followed recent industry trends with an announcement today that it is classifying certain of its investment securities as "securities available for sale."
 The classification has no effect on earnings, total capital or total assets reported in previously filed financial statements.
 The changes are being made in conjunction with a review by the Securities and Exchange Commission of the company's registration statement for an offering of 1.5 million shares of common stock. In addition, it reflects an expectation that federal regulators and accounting rule makers will require broader disclosure of securities available for sale in the future. In recent months, a number of financial institutions have adopted this classification of securities.
 As of June 30, 1992, First American reported total investment securities of $2.014 billion. Using the new categories, $1.499 billion will be classified as investment securities and $515 million as securities available for sale. The classification will be reflected by an amendment to previously filed financial statements beginning Dec. 31, 1991, with comparable prior year periods also reflecting the change.
 First American's stock is traded in the over-the-counter securities market and is quoted on the NASDAQ National Market System under the symbol FATN.
 -0- 9/1/92
 /CONTACT: Financial -- Carroll Kimball, 615-748-2455, or Media -- Vicki Kessler or Janeen Gregory, 615-748-2912, all of First American Corporation/
 (FATN) CO: First American Corporation ST: Tennessee IN: FIN SU:


JZ -- CH009 -- 5632 09/01/92 17:21 EDT
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Date:Sep 1, 1992
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