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PARKER S. KENNEDY ELEVATED TO PRESIDENT OF FIRST AMERICAN FINANCIAL; D.P. KENNEDY NAMED CHAIRMAN

 SANTA ANA, Calif., April 29 /PRNewswire/ -- A shift in top management was announced by the board of directors of The First American Financial Corp. (NASDAQ: FAMR) today. Also, at the company's annual meeting, the board of directors was reelected by the majority of shareholders.
 D.P. Kennedy will be moving up from president of the corporation to chairman, while his son, Parker S. Kennedy, has been promoted to president from executive vice president. In 1989, the same position changes were announced for the company's principal subsidiary, First American Title Insurance Co.
 D.P. Kennedy, 74, became associated with the company in 1948. He was elected president in 1963. Parker S. Kennedy, 45, has been executive vice president of The First American Financial Corp. since 1986. He is only the fifth president of First American since his great grandfather started the firm in the late 1800s.
 Shareholders reelected the incumbent 15 directors. They are George L. Argyros, chairman and chief executive officer, Arnel Development Co. and Affiliates, Costa Mesa, Calif.; J. David Chatham, president and chief executive officer, Chatford Properties Inc., Atlanta; William G. Davis, counsel, Tory Tory DesLauriers & Binnington, and chairman of the board, Bramalea Ltd., Toronto; James L. Doti, president and professor of economics, Chapman University, Orange, Calif.; Lewis W. Douglas Jr., oil exploration, Denver; Paul B. Fay Jr., president, The Fay Improvement Co., San Francisco; Frank C. Harrington, president, Harrington Development Co., Newport Beach, Calif.; Harold C. Kean, director, Washington Federal Savings and Loan Association, Seattle; D.P. Kennedy, chairman of the board, The First American Financial Corp. and First American Title Insurance Co., Santa Ana; Parker S. Kennedy, president, The First American Financial Corp. and First American Title Insurance Co., Santa Ana; Robert B. McLain, president, McLain Development Co., Newport Beach; Anthony R. Moiso, president and chief executive officer, Santa Margarita Co., San Juan Capistrano, Calif.; R.J. Munzer, retired chairman of the board, Petrolane Inc., Long Beach, Calif.; Roslyn B. Payne, president, Jackson Street Partners Ltd., San Francisco; and Virginia M. Ueberroth, president, Ueberroth Family Foundation, Laguna Beach, Calif.
 The First American Financial Corp., based in Santa Ana, is a leading provider of real estate financial services, including title insurance, tax monitoring and home warranty services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California. The company offers its title services through a network of more than 300 offices and 4,000 agents in all 50 states. It also provides title services abroad in the Bahamas, Bermuda, Canada, Guam, Mexico, Puerto Rico, the Virgin Islands and the United Kingdom.
 Parker S. Kennedy
 Parker S. Kennedy, 45, is president of The First American Financial Corp. and its principal subsidiary, First American Title Insurance Co. He has held his position with the title company since 1989, and the financial corporation since April 1993.
 Kennedy was named to the board of directors of First American Title Insurance Co. in 1981. In 1987, he was elected to the board of The First American Financial Corp.
 In 1984, Kennedy was named executive vice president of First American Title, and was elected to the same position with First American Financial in 1986. Since joining First American in 1977, he has also been vice president-national sales director on corporate staff and manager of the firm's Ventura County office in Oxnard, Calif. Earlier, he was senior vice president of the firm's Los Angeles subsidiary, First American Title Co. of Los Angeles.
 Kennedy serves on the boards of several First American subsidiaries and affiliates. He also serves on the boards of directors of various charitable organizations, including the Fletcher Jones Foundation and the Independent Colleges of Southern California. He is a past chairman of the board of the Santa Ana Chamber of Commerce. Kennedy is also president-elect of the American Land Title Association.
 A member of the California Bar Association, Kennedy practiced law for four years with Levinson & Lieberman, Beverly Hills, Calif. He was graduated from the University of Southern California, Los Angeles, in 1970, with an A.B. degree in economics, and received his law degree from Hastings College of Law, San Francisco, in 1973.
 Kennedy was born in Orange, Calif., where he now resides. He is the son of D.P. Kennedy, First American Title's chairman of the board, and the great grandson of the company's founder, C.E. Parker. Kennedy and his wife, Sherry, are the parents of a son, Donald and a daughter, Katie.
 Donald Parker Kennedy
 D.P. Kennedy, 74, is chairman of the board of The First American Financial Corp. and its principal subsidiary, First American Title Insurance Co. A 1940 graduate of Stanford University, Kennedy became associate counsel of First American's predecessor, Orange County Title Co., in 1948, after receiving his law degree from the University of Southern California School of Law. He was elected vice president of the firm in 1951, executive vice president in 1958, president in 1963, and chairman of the board of the title insurance subsidiary in April 1989. He is a member of the Orange County and California Bar Associations.
 Kennedy is past president of the California Land Title Association, has served as a member of its board of governors, and as chairman of its title industry committee and member of its executive committee since 1957. In the American Land Title Association, he has held the offices of president (1983-84), treasurer, chairman of the finance committee and chairman of the title insurance and underwriters section. He served as a member of ALTA's board of governors and executive committee, and chaired the government affairs committee.
 He is presently a member of the board of trustees of Chapman University, Orange, and the board of trustees of the University of California at Riverside, a member of the University of Southern California Presidential Associates, a director of the Orange County Business Committee for the Arts, and a member of the board of trustees and treasurer of South Coast Repertory, Costa Mesa. He also is a director of the Festival of Learning and Performing, serves on the executive committee of the World Affairs Council of Orange County, and is a director of The First American Financial Corp. and many of its subsidiaries.
 Kennedy has held directorships in several financial institutions and businesses in Southern California. He was inducted into the California Building Industry Hall of Fame in June 1989, and he is listed in "Who's Who in America."
 He has always been active in community affairs and was Orange County chairman of the U.S. Savings Bond program for 20 years, is past president of the Santa Ana-Tustin Community Chest and former member of the board of trustees of St. Joseph's Hospital Foundation. His community service also includes terms as a member of the board of directors of the Santa Ana-Tustin YMCA; president of the Santa Ana Country Club; director of the Southern California Golf Association; as well as chairman of the Golden Eagle Boy Scouts of America. He is also a past president of the Southern California Racing Association.
 Kennedy is the grandson of First American's founder, C.E. Parker. He and his wife, Dorothy, are the parents of a son, Parker, attorney- at-law, president of The First American Financial Corp. and First American Title Insurance Co.; and two daughters, Elizabeth (Mrs. Hal Riney) of San Francisco, and Amy Kennedy of Los Angeles.
 -0- 4/29/93
 /EDITOR'S NOTE: Photographs are available./
 /CONTACT: D.P. Kennedy, chairman, or Parker S. Kennedy, president, of The First American Financial Corp., 714-558-3211 or 213-626-0526/
 (FAMR)


CO: The First American Financial Corp.;
 First American Title Insurance Co. ST: California IN: FIN INS SU: PER


BP-JL -- LA017 -- 2428 04/29/93 08:04 EDT
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Date:Apr 29, 1993
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