Industry News

Announces Quarterly Cash Dividend of $0.18

JACKSONVILLE, Fla., /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), today reported operating results for the three-month period ended June 30, 2004.

2nd Quarter 2004 Net Earnings $222.1 million $1.26 per diluted share

2nd Quarter 2003 Net Earnings $248.3 million $1.62 per diluted share

• The segment reporting of the company has been changed to be consistent
  with the operating structure of the company
• Fidelity National Information Services (FIS), a wholly-owned subsidiary
  of FNF, has filed a registration statement to offer shares in an
  initial public offering
• After the completion of the initial public offering, FIS will consist
  of Financial Institution Software and Services (FISS), Lender
  Outsourcing Solutions (LOS) and Information Services (IS); it will
  also have a Corporate and Other segment
• After the completion of the FIS IPO and the spin-off of FNF's remaining
  ownership in FIS, FNF will consist of the Title and Escrow and
  Specialty Insurance segments; it will also have a Corporate and Other
  segment
• Operating revenue for the second quarter of 2004 was $2.2 billion,
  compared with $2.0 billion for the second quarter of 2003
• Title and escrow revenue was $1.5 billion for the second quarter of
  2004 versus $1.4 billion in the second quarter of 2003
• Revenue from FISS, which includes the financial institution and
  mortgage processing businesses, was $300 million for the second
  quarter of 2004 versus $220 million for the second quarter of 2003
• FISS gross organic revenue growth, including inter segment revenue, was
  10.9 percent for the second quarter of 2004 over the second quarter of
  2003
• LOS revenue, which includes the loan facilitation services of LSI,
  outsourced default management services and the loan fulfillment and
  processing services for U.S. homebuilders, was $129 million for the
  second quarter of 2004 versus $155 million for the second quarter of
  2003; LSI contributed $59 million and Default Management $58 million
  in revenue for the second quarter of 2004 versus $98 million for LSI
  and $46 million for Default Management in the second quarter of 2003
• IS revenue, which includes property data such as real estate tax
  services, flood certifications and credit reporting and real
  estate-related services, such as valuation and appraisal services,
  1031 exchange intermediary services and multiple listing services, was
  $145 million for the second quarter of 2004 compared with $147 million
  for the second quarter of 2003
• Specialty Insurance contributed $58 million for the second quarter of
  2004 versus $30 million in the second quarter of 2003

The Board of Directors has declared a quarterly cash dividend in the amount of $0.18 per share. The dividend will be payable September 1, 2004 to stockholders of record as of August 18, 2004.

Source: Fidelity National Financial, Inc.