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INVESTORS TITLE COMPANY ANNOUNCES RESULTS

 INVESTORS TITLE COMPANY ANNOUNCES RESULTS
 CHAPEL HILL, N.C., July 23 /PRNewswire/ -- J. Allen Fine, President


and Chairman of the Board of Investors Title Company (NASDAQ-NMS: ITIC), announced that for the three months ended June 30, 1992, premiums written increased 37 percent from $2,421,077 to $3,325,231, investment income increased 1 percent from $207,807 to $209,233, and revenues increased 42 percent from $2,494,934 to $3,533,538 all compared to the same quarter in 1991.
 Net income before an extraordinary charge totaled $451,500. This represents an increase of approximately 13 percent over the quarter ended June 30, 1991, after adjusting the prior quarter for the demolition of our former office building and an unusual and large claim.
 Fine stated that, "After an extraordinary charge of $3,001,565, in the current quarter for expenses related to the settlement of an antitrust lawsuit, the company experienced a net loss of $2,550,065. The settlement was completed May 29, 1992, and all related expenses were financed and paid by the holding Company, Investors Title Company, without effecting the financial statements of its subsidiary, Investors Title Insurance Company."
 Fine further stated, "We are extremely pleased to report an increase in revenues and earnings from operations in this transitional quarter."
 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 to certified public accountants in structuring delayed tax-free exchanges for their clients.
 -0- 7/23/92
 /CONTACT: James A. Fine, Jr., Investors Title Company, 919-968-2200/
 (ITIC) CO: Investors Title Company ST: North Carolina IN: INS SU: ERN


JZ -- CH011 -- 2423 07/23/92 10:52 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
Words:309
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