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INVESTORS TITLE COMPANY ANNOUNCES EARNINGS

 CHAPEL HILL, N.C., Oct. 28 /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, 1993, net income increased 21 percent over the previous year's quarter from $601,035 to $727,018, premiums written increased 22 percent from $3,174,331 to $3,862,297, investment income increased 7 percent from $216,450 to $232,026, and revenues increased 21 percent from $3,401,560 to $4,108,338. Net income per share totalled $.25 for the third quarter, an increase of 19 percent compared to $.21 for the third quarter last year.
 For the nine months ended Sept. 30, 1993, premiums written increased 6 percent from $9,594,510 to $10,130,832, investment income increased 14 percent from $630,164 to $721,267, and revenues increased 6 percent from $10,268,187 to $10,920,546, all compared to the same period in 1992. The net income for the nine month period increased to $1,696,397 compared to a net loss of $1,197,121 for the same period in 1992. Net income per share totalled $.59 for the nine months compared to a net loss of $.42 for the same period in 1992.
 "Home sales and mortgage refinancing continue to increase, contributing greatly to the increase in our premiums written," said Fine. "In this quarter, we have achieved record levels of premiums and income from operations."
 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 on real property primarily in the southeast.
 Another subsidiary, Investors Title Exchange Corporation, provides assistance to attorneys and certified public accountants in structuring delayed tax-free exchanges for their clients.
 -0- 10/28/93
 /CONTACT: Elizabeth P. Bryan of Investors Title, 919-968-2200/
 (ITIC)


CO: Investors Title Company ST: North Carolina IN: FIN SU: ERN

CM-SB -- CH014 -- 7929 10/28/93 12:33 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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