Fidelity National Title Group, Inc. Announces Results of Exchange Offers to Date and Extends Offers until 5:00 P.M. EST on Tuesday, January 17, 2006
Jacksonville, Fla. -- (January 17, 2006) Fidelity National Title Group, Inc. (NYSE: FNT), the nation's largest title insurance company and a majority-owned, publicly traded subsidiary of Fidelity National Financial, Inc. (NYSE: FNF), today announced, in connection with its previously announced exchange offers for outstanding notes of FNF and its related solicitation of consents to amend the indenture pursuant to which the FNF notes were issued, that it is extending the expiration of the exchange offers until 5:00 p.m., New York City time, on Tuesday, January 17, 2006, to allow holders of the approximately $9.10 million aggregate principal amount of the FNF notes not yet tendered additional time to tender in the exchange offers.
The exchange offers were scheduled to expire at midnight, New York City time, on January 13, 2006. As of that time, $240,922,000 aggregate principal amount (approximately 96.37%) of the 7.30% FNF Notes due 2011 and $249,975,000 aggregate principal amount (approximately 99.99%) of the 5.25% FNF Notes due 2013 had been validly tendered and not withdrawn in the exchange offers and consent solicitations.
Except for the extension of the expiration time and as set forth below, all of the other terms of the exchange offers remain as set forth in the prospectus and consent solicitation statement dated January 9, 2006 and the related letter of transmittal and consent. Under the terms and conditions of the exchange offers and consent solicitations, holders who tendered prior to midnight, New York City time, on January 13, 2006, and any other holders of FNF notes who tender prior to the extended expiration time, will not be permitted to withdraw their tendered FNF notes or revoke the related consents to the amendments to the FNF indenture. Copies of the prospectus and consent solicitation statement may be obtained from D.F. King & Co., Inc., which is serving as exchange agent for the exchange offers.
Contact information for D.F. King & Co., Inc. is as follows:
48 Wall Street
New York, New York 10005
Banks and brokers call (212) 269-5550
All others call collect: (800) 848-2998
This news release is neither an offer to sell nor a solicitation of an offer to buy or exchange any securities, nor shall there be any sale or purchase of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The exchange offers are made solely by the prospectus and consent solicitation statement and the related letter of transmittal and consent, and are subject to the conditions set forth therein.
Fidelity National Title Group, Inc. is the nation's largest title insurance company. The Company's title insurance underwriters -- Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title -- issue approximately 31 percent of all title insurance policies in the United States. Through its direct operations and agencies, the Company provides title insurance in 49 states, the District of Columbia, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and Canada. In 2005, FNT also acquired Service Link, a leading provider of title and closing services to major financial institutions and lenders, including six of the top 10 lending institutions in the United States ranked by loan origination volume. More information about Fidelity National Title Group can be found at www.fntg.com
This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of FNF or FNT to be different from those expressed or implied above. FNF and FNT expressly disclaim any duty to update or revise forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition, the possibility that the conditions for the exchange offers will not be met or that the anticipated benefits of the exchange offers will not be obtained and other risks detailed from time to time in the "Management's Discussion and Analysis" section of FNT's Form 10-K and other reports and filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Title Group, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations, Fidelity National Financial, Inc., 904-854-8120, email@example.com