Les Covington Named President of Ultima Corp.

May 27, 2004

HARDY, Ark. – Les Covington has assumed duties as the new president of Ultima Corp., a wholly-owned subsidiary of Stewart Information Services Corp. (NYSE-STC) . Known as the developer of TitleSearch®, an award-winning document imaging software designed for title plants, eTitleSearch, an e-commerce Web site for publishing land records, and FileStor®, a single-source document management solution, Ultima is a leader in imaging and indexing software products for the title industry.

“Les has eight years of experience at Ultima and a great following from within the organization to his new position as president,” said Mike Davis, Stewart’s chief information officer. “I thank Les for stepping up to the challenge and I know he will do well.”

During his time at Ultima, Covington engaged in such activities as conversion, installation, technical support and training for Ultima’s industry-leading software. His most recent role as implementation director oversaw those activities for the organization.

In his new role, Covington plans to maintain Ultima’s primary directives.

“Our vision is clear. First, establish TitleSearch, eTitleSearch, and FileStor as the de facto standards for the title industry. Second, expand deployment of our products within the Stewart family of companies. Third, increase productivity for our customers through Advanced Search Analysis, Search Manager and AIM® for Windows® integration,” said Covington. “We will focus our resources on realistic deliverables for software development, more effective project management, and enhanced market perception of Ultima and its products.”

Kent Weiand, founder of Ultima Corp., stepped down from his position as president on April 2, 2004 to explore other business opportunities. During his 12-year tenure, Weiand oversaw the development of TitleSearch, eTitleSearch and FileStor.

Ultima Corporation, a subsidiary of Stewart Information Systems Corporation in Houston, has been developing imaging and indexing software for the title industry for more than 12 years. They are headquartered in Hardy, Arkansas.

Source: Stewart Information Services Corp.


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