Capital Title Group Inc. (Nasdaq: CTGI) -- listed No. 21
in FORTUNE'S 100 Fastest Growing Companies in America for 2004 -- is a
national provider of title, appraisal and other transaction services
to the real estate and mortgage lending industries. The company
announced today the selection of Burton J. Rain to serve as president
of a newly formed subsidiary headquartered in Florida that will
operate under the brand name New Century Title Co. Rain's extensive
title industry career includes executive management responsibility for
operations of multistate branch office networks, and expansion and
development of new territories. His successful execution of developing
new markets will be invaluable to Capital Title as it implements its
plan to expand its network of offices into the east and southeastern
United States. His territory will include the Texas market, which is
ranked third, behind California and Florida, with respect to annual
title premiums written.
Rain most recently served as executive vice president of Fidelity National Title Insurance Co., responsible for agency operations for all Fidelity National companies in 13 western states. For five years he had served as national agency director for all Fidelity National companies where his responsibilities included national agency sales and operations, and business development for agency acquisitions and financing. Prior to joining Fidelity he served in various management capacities and was vice president and national agency director for SAFECO Title Insurance Co. when SAFECO was acquired by Chicago Title and Trust in 1987. In the early years of his career in the title industry, Rain held management positions in charge of multistate agency operations based out of Illinois, Michigan and Texas. He holds a Bachelor of Science degree in business administration from Menlo College in Menlo Park, Calif. Rain has been actively involved as a member of the board of several of Fidelity National Financial's subsidiary companies.
"It is with great enthusiasm that we welcome Burt as a member of our senior management team. Burt's wide-ranging experience and the strong network of relationships he has developed within the title industry will be helpful to Capital Title as we move into new markets starting with Florida and spreading throughout the east and southeastern United States. Texas is also a primary expansion market that Burt will oversee," said Donald R. Head, chairman, president and chief executive officer of Capital Title Group Inc. "Burt will be instrumental in identifying target acquisitions and in charge of integration and operations of newly acquired companies within his markets. We are pleased to add Burt to the senior management team that will lead this company to its next level of performance."
Commenting on his appointment Rain stated, "I look forward to joining a growth-oriented company that is energetically moving into new territories. Contributing to this effort I will use my many years of experience within the industry to successfully implement the expansion of Capital Title's national footprint."
Headquartered in Scottsdale, Ariz., Capital Title Group Inc. through its subsidiaries offers services throughout the United States for title insurance, appraisal and valuation services, and other related services to residential and commercial customers in the real estate and mortgage lending industries. Subsidiary companies include Capital Title Agency, New Century Title Co., United Title Co., First California Title Co., Land Title of Nevada, CTG Real Estate Information Services, Nationwide Appraisal Services, Nationwide TotalFlood Services Inc., Real Estate Appraisal Services Inc., NAC1031 Exchange Services, 1031 ExchangePoint Inc. and AdvantageWare, with strategically located offices in Arizona, California, Nevada, Ohio, Pennsylvania and Texas. The company is also licensed to issue and underwrite title insurance policies in Arizona, California, Nevada, New York, Pennsylvania and Texas through United Capital Title Insurance Co. The combined companies have in excess of 2,500 employees.
Visit our Web sites for more information on the company and its subsidiaries: -0- www.capitaltitlegroup.com www.capitaltitle.com www.nationwide-totalflood.com www.landtitlenv.com www.nationwidesolution.com www.unitedtitle.com www.newcenturytitle.com www.firstcal.com www.awiware.com www.nascopgh.com www.nac1031.com www.1031exchangepoint.com
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Certain statements in this release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information.
Some of the important factors that could cause the company's actual results to differ materially from those projected in forward-looking statements made by the company include, but are not limited to, the following: fluctuations in interest rates that can affect operating results, intense competition, past and future acquisitions, expanding operations into new markets, risk of business interruption, management of rapid growth, need for additional financing, changing customer demands, dependence on key personnel, sales and income tax uncertainty and increasing marketing, management, occupancy and other administrative costs.
These factors are discussed in greater detail in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2004, as filed with the Securities and Exchange Commission.
Rain most recently served as executive vice president of Fidelity National Title Insurance Co., responsible for agency operations for all Fidelity National companies in 13 western states. For five years he had served as national agency director for all Fidelity National companies where his responsibilities included national agency sales and operations, and business development for agency acquisitions and financing. Prior to joining Fidelity he served in various management capacities and was vice president and national agency director for SAFECO Title Insurance Co. when SAFECO was acquired by Chicago Title and Trust in 1987. In the early years of his career in the title industry, Rain held management positions in charge of multistate agency operations based out of Illinois, Michigan and Texas. He holds a Bachelor of Science degree in business administration from Menlo College in Menlo Park, Calif. Rain has been actively involved as a member of the board of several of Fidelity National Financial's subsidiary companies.
"It is with great enthusiasm that we welcome Burt as a member of our senior management team. Burt's wide-ranging experience and the strong network of relationships he has developed within the title industry will be helpful to Capital Title as we move into new markets starting with Florida and spreading throughout the east and southeastern United States. Texas is also a primary expansion market that Burt will oversee," said Donald R. Head, chairman, president and chief executive officer of Capital Title Group Inc. "Burt will be instrumental in identifying target acquisitions and in charge of integration and operations of newly acquired companies within his markets. We are pleased to add Burt to the senior management team that will lead this company to its next level of performance."
Commenting on his appointment Rain stated, "I look forward to joining a growth-oriented company that is energetically moving into new territories. Contributing to this effort I will use my many years of experience within the industry to successfully implement the expansion of Capital Title's national footprint."
Headquartered in Scottsdale, Ariz., Capital Title Group Inc. through its subsidiaries offers services throughout the United States for title insurance, appraisal and valuation services, and other related services to residential and commercial customers in the real estate and mortgage lending industries. Subsidiary companies include Capital Title Agency, New Century Title Co., United Title Co., First California Title Co., Land Title of Nevada, CTG Real Estate Information Services, Nationwide Appraisal Services, Nationwide TotalFlood Services Inc., Real Estate Appraisal Services Inc., NAC1031 Exchange Services, 1031 ExchangePoint Inc. and AdvantageWare, with strategically located offices in Arizona, California, Nevada, Ohio, Pennsylvania and Texas. The company is also licensed to issue and underwrite title insurance policies in Arizona, California, Nevada, New York, Pennsylvania and Texas through United Capital Title Insurance Co. The combined companies have in excess of 2,500 employees.
Visit our Web sites for more information on the company and its subsidiaries: -0- www.capitaltitlegroup.com www.capitaltitle.com www.nationwide-totalflood.com www.landtitlenv.com www.nationwidesolution.com www.unitedtitle.com www.newcenturytitle.com www.firstcal.com www.awiware.com www.nascopgh.com www.nac1031.com www.1031exchangepoint.com
May we have your opinion?
http://www.b2i.us/sendFeedBack.asp?B=576&RL=11159&S=17413
Certain statements in this release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information.
Some of the important factors that could cause the company's actual results to differ materially from those projected in forward-looking statements made by the company include, but are not limited to, the following: fluctuations in interest rates that can affect operating results, intense competition, past and future acquisitions, expanding operations into new markets, risk of business interruption, management of rapid growth, need for additional financing, changing customer demands, dependence on key personnel, sales and income tax uncertainty and increasing marketing, management, occupancy and other administrative costs.
These factors are discussed in greater detail in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2004, as filed with the Securities and Exchange Commission.
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