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FIDELITY NATIONAL FINANCIAL INC. ANNOUNCES PURCHASE OF PEOPLES ABSTRACT INC.

 IRVINE, Calif., Nov. 11 /PRNewswire/ -- Fidelity National Financial Inc. (NYSE: FNF), one of the nation's leading title insurance underwriters, today announced that its wholly owned subsidiary, Fidelity National Title Insurance Company of Pennsylvania, has acquired the operating assets of Peoples Abstract Inc., a Philadelphia-based title insurance agency.
 Peoples Abstract Inc., with two offices located in Philadelphia and one in King of Prussia, Pa., will now become direct operations of Fidelity National Title Insurance Company of Pennsylvania. Prior to the acquisition, Peoples Abstract Inc. had served as one of Fidelity's agents.
 "The acquisition of Peoples Abstract is in line with our strategy of expanding our direct title operations, as opposed to emphasizing agency relationships," said William P. Foley, II, president and chief executive officer of Fidelity National Financial Inc. "Additionally, this acquisition will allow us to further grow our market share in Pennsylvania and New Jersey.
 "We are also fortunate to have Dennis Ryan, the former president of Peoples Abstract, and his staff joining our organization. Dennis brings over 16 years of experience to Fidelity. His extensive background and expertise in the title insurance industry should prove to be a real asset for our company."
 Headquartered in Irvine, Fidelity National Financial Inc., is one of the largest national underwriters engaged in the business of issuing title insurance policies and performing other title-related services in 48 states, the District of Columbia, Puerto Rico, the Bahamas and the Virgin Islands through its principal underwriting subsidiaries, Fidelity National Title Insurance Co., Fidelity National Title Insurance Company of California, Fidelity National Title Insurance Company of New York, Fidelity National Title Insurance Company of Pennsylvania, Fidelity National Title Insurance Company of Tennessee, Fidelity National Title Insurance Company of Texas and American Title Insurance Company.
 -0- 11/11/93
 /CONTACT: Frank P. Willey, Executive VP & General Counsel, or Jo Etta Bandy, VP-Investor Relations, 714-852-9770/
 (FNF)


CO: Fidelity National Financial Inc.; Peoples Abstract Inc.;
 Fidelity National Title Insurance Company of Pennsylvania ST: California IN: FIN SU: TNM


EH-LM -- LA032 -- 3341 11/11/93 15:33 EST
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Publication:PR Newswire
Date:Nov 11, 1993
Words:338
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