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INVESTORS TITLE ANNOUNCES EARNINGS

 INVESTORS TITLE ANNOUNCES EARNINGS
 CHAPEL HILL, N.C., Oct. 21 /PRNewswire/ -- J. Allen Fine, President


and Chairman of the Board of Investors Title Company (NASDAQ-NMS: ITIC), announced that for the three months ended Sept. 30, 1992, net income increased 28 percent over the previous year's quarter from $470,954 to $601,035. Premiums written increased 25 percent from $2,540,852 to $3,174,331, investment income declined 2 percent from $220,964 to $216,450, and revenues increased 22 percent from $2,778,091 to $3,401,560. Net income per share totaled $.21 for the third quarter, an increase of 31 percent compared to $.16 for the third quarter last year.
 For the nine months ended Sept. 30, 1992, premiums written increased 40 percent from $6,854,291 to $9,594,510, investment income declined 3 percent from $648,073 to $630,164, and revenues increased 39 percent from $7,382,683 to $10,268,187, all compared to the same period in 1991. The net loss for the nine month period was $1,633,246, which included an extraordinary charge of $3,001,565 net of taxes in the second quarter as previously reported, compared to net income of $486,412 in the same period of 1991.
 "The level of our premiums written has remained high due largely to our continued focus on business development and the low level of mortgage interest rates," Fine said. "We are proud of the progress we have made which is attributable to the hard work and dedication of our employees and the continued support of our customers and shareholders."
 Investors Title Company is a publicly held North Carolina Company whose stock is traded on the NASDAQ National Market (Symbol: ITIC). The Company's two title insurance subsidiaries write title insurance in the states of North Carolina, South Carolina, Virginia, Tennessee, Illinois, Oklahoma, New York, Florida, Pennsylvania, Louisiana and Indiana.
 Another subsidiary, Investors Title Exchange Corporation, provides assistance to attorneys and certified public accountants in structuring delayed tax-free exchanges for their clients.
 -0- 10/21/92
 /CONTACT: Glenda H. Oxendine, Investors Title Company, 919-968-2200/
 (ITIC) CO: Investors Title Company ST: North Carolina IN: INS SU: ERN


SB -- CH006 -- 2937 10/21/92 13:28 EDT
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Publication:PR Newswire
Date:Oct 21, 1992
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