CHICAGO, Feb. 29 /PRNewswire/ -- Chicago Title Corporation (NYSE: CTZ)
today announced that completion of its merger with Fidelity National
Financial, Inc. still remains on track, subject to the receipt of approvals
from the insurance regulatory authorities in the states of California and
Oregon. While the merger will not take place on March 1, 2000 as previously
anticipated, the insurance regulatory approvals are expected shortly. Upon
their receipt, Chicago Title plans to issue a press release announcing the
scheduled date of the merger and the deadline by which Chicago Title
stockholders must submit election forms in order for their elections of
consideration to be received in the merger to be valid.
Chicago Title Corporation, through its subsidiaries, provides title
insurance, escrow and closing services as well as property valuation, credit
information, default management and flood compliance products through a
network of more than 340 offices and approximately 4,300 agents nationwide.
Chicago Title Corporation's title insurance subsidiaries, Chicago Title
Insurance Co., Ticor Title Insurance Co. and Security Union Title Insurance
Co., issue approximately one in every five title insurance policies in the
United States. Subsidiaries furnishing other real estate-related products
include Chicago Title Flood Services Inc., Chicago Title Credit Services Inc.,
Chicago Title - Market Intelligence Inc. and Chicago Title Field Services Inc.
The statements made in this press release contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that involve a number of
uncertainties and risks that could significantly affect current plans and
anticipated actions and Chicago Title's future financial condition and
results. In addition to the matters described in this press release, risk
factors listed from time to time in Chicago Title's reports and filings with
the Securities and Exchange Commission may affect the results achieved by
Chicago Title.
Investors are urged to read the Registration Statement on Form S-4 filed
by Fidelity, which relates to the shares of Fidelity common stock to be issued
in the merger and includes the joint proxy statement/prospectus of the parties
in respect of the merger. The Registration Statement (and other filings of
the parties incorporated by reference therein) are available for free at the
Securities and Exchange Commission's web site ( http://www.sec.gov ). Investors also
may obtain copies of the joint proxy statement/prospectus and Chicago Title
SEC filings for free from Chicago Title.
Note: For further information on Chicago Title's products and services,
visit the company's web site at http://www.ctt.com .
For more information on Chicago Title Corporation via fax, free of charge,
dial 1-800-PRO-INFO and enter the ticker "CTZ".
SOURCE Chicago Title Corporation
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Related links:
http://www.ctt.com
CONTACT:
Media, Barbara Harms, 312-223-2461, or
Analysts, Toshie Davis, 312-223-4788, both of Chicago Title
Corporation
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