Investors Trust Company Receives Charter

March 3, 2004

CHAPEL HILL, N.C.--(BUSINESS WIRE) -- J. Allen Fine, Chairman of the Board of Investors Trust Company, announced that the Company has received its charter from the North Carolina Commissioner of Banks. The Company will serve clients throughout North Carolina and neighboring states by providing professional portfolio management services along with trust services.

Fine said, "Investors Trust Company has employed an experienced management team with over 75 years of combined experience in the trust and money management services, headed by Thomas W. Murray who has been named President". Stephen E. Pike, Executive Vice President and D. Carlisle Whitlock, Chief Investment Officer complete the team.

Investors Trust Company is a wholly owned subsidiary of Investors Title Company, a publicly-held North Carolina company whose stock is traded on the NASDAQ National Market (Nasdaq:ITIC).

Source: Investors Title Company

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