CHICAGO, October 23 /PRNewswire/ _ Chicago Title and Trust Co., a
subsidiary of Alleghany Corporation (NYSE: Y), today announced the election of
John Rau, formerly president and chief executive officer of LaSalle National
Bank, as president and chief executive officer of Chicago Title and Trust Co.
(CT&T) and Chicago Title Insurance Co. (CTIC), effective Jan. 1, 1997.
    Rau succeeds Richard P. Toft in both roles for Chicago Title and Trust Co.
Toft retains his responsibilities as non-executive chairman of the combined
boards of directors of CT&T and CTIC and has been elected chairman and chief
executive officer of Alleghany Asset Management Inc., Alleghany Corporation's
investment management and advisory services subsidiary.  Rau also succeeds
Richard L. Pollay as president and chief executive officer of Chicago Title
Insurance Co., and as chief executive officer of  Ticor Title Insurance Co.
and Security Union Title Insurance Co.  Pollay, who earlier announced his
year-end retirement after 40 years with Chicago Title, will retain his
membership on the combined boards of directors of CT&T and CTIC.
    Chicago Title and Trust Co. is the leading title insurer in the country
with gross revenues of approximately $1.3 billion.  The company provides title
insurance, escrow and closing services, as well as appraisal, credit and flood
certification products through a network of more than 250 offices and
approximately 3,700 agents nationwide.  In a typical year, the company
provides insurance and escrow closing services for more than one million real
estate transactions.
    In making the announcement, John J. Burns, Jr., president of  Alleghany
Corporation, said:  "CT&T has exceptional growth opportunities in its
investment management business and its real estate services operation where we
are now positioned to provide credit, appraisal and flood certification
products along with our traditional title products.  John Rau's proven
strategic leadership abilities and extensive experience in business and
finance equip him well to build on a fine foundation.  John's banking
background provides a true 'customer perspective' that will significantly
strengthen CT&T's ability to deliver a full range of services to its real
estate partners, particularly lenders who play an important role in real
estate services decision-making."
    "I am excited and enthused about joining such a great company as Chicago
Title and Trust Co.," said Rau.  "It is truly one of the country's household
brand names and the fit is exceptional.  I am complimented by this appointment
and look forward to working with its many talented people to keep it the
leader in this industry into the next century.  We have our challenges, but no
company is better positioned to emerge as the winner in a market that is
becoming more national, more sophisticated and more demanding in its choice of
suppliers."
    Rau was previously the president and chief executive officer of LaSalle
National Bank and of its predecessor, the Exchange National Bank of Chicago,
from 1983 to 1993.  The two banks agreed to merge under the LaSalle National
Bank name in 1989.  Prior to joining Exchange National Bank in 1980 as chief
operating officer,  Rau spent eight years with the First National Bank of
Chicago.  Rau has been Dean of the School of Business at Indiana University
since August 1993.
    While chief executive officer of Exchange/LaSalle, Rau implemented two of
the largest mergers in Illinois banking history.  In 1982, Exchange National
acquired the similarly sized Central National Bank of Chicago.  It was one of
the pioneering "mergers of equals" among banks.  He also was responsible for
the merger of Exchange National and LaSalle, now owned by the ABN-Amro Banking
Group of the Netherlands, into one of the most successful commercial banks in
the country.  During his tenure with the First National Bank of Chicago, he
directed the International Banking and Trade Services group, the Computer
Services division, the Corporate Development division and Domestic Planning
and Administration.
    Rau earned his bachelor's degree at Boston College in 1970 and his
master's degree in Business Administration at Harvard University in 1972.  He
and his wife, Sandy, have three children: Michael, 14; Caroline, 11; and
Rebecca, 7.  They currently reside in Bloomington, Ind., and will relocate to
Chicago in the near future.
    Chicago Title and Trust Co. is a wholly-owned subsidiary of Alleghany
Corporation.  The Chicago Title and Trust Family of Title Insurers includes
Chicago Title Insurance Co., Ticor Title Insurance Co., and Security Union
Title Insurance Co.  In addition to title insurance services, CT&T owns
National Flood Information Services Inc., Market Intelligence Inc. and Credit
Data Reporting Services Inc.  Alleghany  Asset Management Inc., which provides
mutual fund and investment management and advisory services, is composed of
Montag and Caldwell Inc., The Chicago Trust Company and Chicago Deferred
Exchange Corp. and has total assets under management in excess of $12.5
billion.

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