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FIDELITY NATIONAL FINANCIAL INC. REPORTS RECORD REVENUES AND EARNINGS FOR THE YEAR ENDED DEC. 31, 1991

 FIDELITY NATIONAL FINANCIAL INC. REPORTS RECORD REVENUES
 AND EARNINGS FOR THE YEAR ENDED DEC. 31, 1991
 IRVINE, Calif., March 11 /PRNewswire/ -- Fidelity National Financial Inc. (NYSE: FNF), a leading title insurance underwriter, today announced record revenues and earnings for the year ended Dec. 31, 1991.
 Revenues for the year ended Dec. 31, 1991, were $220,625,000, compared to $183,263,000 for the fiscal year ended Oct. 31, 1990. This represents a year-over-year increase in revenues of 20.4 percent. Net earnings for the 1991 year-end rose 19.4 percent to $6,235,000, from $5,220,000 for the Oct. 31, 1990, fiscal year-end. Earnings per share for the years ended Dec. 31, 1991, and Oct. 31, 1990, were $1.73 vs. $1.46, respectively. On March 30, 1992, the company will effectuate a four-for-three stock split, payable to all stockholders of record as of March 16, 1992. Earnings per share for the year ended Dec. 31, 1991, adjusted to reflect the four-for-three stock split, were $1.30, compared to fiscal 1990 per share earnings of $1.10.
 Commenting on Fidelity's year-end performance, William P. Foley II, president and chief executive officer, said, "While the decline in interest rates and the resulting surge in home refinancing had a favorable impact on our 1991 operations, other factors played a significant role in our improved performance. The company continued to increase market share in 1991. This was accomplished by expanding existing branch networks, as well as by strategic acquisitions of other title companies. We've also maintained our low-cost structure, without sacrificing high service standards and quality underwriting practices."
 Foley further explained, "In 1991, Fidelity National Financial changed its fiscal year-end from Oct. 31 to Dec. 31 in order to, among other things, conform its year with regulatory and tax reporting periods. As a result, the 1991 and 1990 year-end comparisons are based on the 12-month periods ended Dec. 31 and Oct. 31, respectively."
 Headquartered in Irvine, Fidelity National Financial Inc. issues title insurance and performs other title-related services in 33 states and the District of Columbia through Fidelity National Title Insurance Co., Fidelity National Title Insurance Co. of California, Fidelity National Title Insurance Co. of Tennessee and Fidelity National Title Insurance Co. of Texas.
 FIDELITY NATIONAL FINANCIAL INC. AND SUBSIDIARIES
 Summary of Operations
 (In thousands, except per share data)
 Years ended
 Dec. 31, 1991 Oct. 31, 1990
 Revenues $220,625 $183,263
 Earnings before income taxes 10,043 8,020
 Net earnings 6,235 5,220
 Earnings per share $1.30 (a) $1.10 (a)
 $1.73 (b) $1.46 (b)
 $1.61 (c)
 Weighted average shares
 outstanding 4,804 (a) 4,756 (a)
 (a) Adjusted to reflect 10 percent stock dividend paid Aug. 1, 1991, and four-for-three stock split.
 (b) Adjusted to reflect 10 percent stock dividend.
 (c) As originally reported in 1990 year-end earnings release.
 -0- 3/11/92
 /CONTACT: Frank P. Willey, executive VP and general counsel or Jo Etta Bandy, VP-Investor Relations of Fidelity National Financial, 714-852-9770/
 (FNF) CO: Fidelity National Financial Inc. ST: California IN: INS SU: ERN


CH -- LA018 -- 6159 03/12/92 11:07 EDT
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Date:Mar 12, 1992
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