Fidelity National Asset Management Solutions Buys Client REO Contracts from Freddie Mac

August 23, 2002

Westminster, Colo.--Fidelity National Asset Management Solutions Inc. (FNAMS), a leading third party provider of REO outsource services, announced today that it reached a definitive agreement with Freddie Mac to purchase existing third party contracts for the management and disposition of real estate assets. The agreement is expected to close on September 13, 2002.

According to Tom DiMercurio, president and chief operating officer of FNAMS, "The assignment of these management contracts significantly expands both the client and asset base of our company. This agreement makes sense for both parties because FNAMS is the only national REO asset management firm with deep financial resources, depth and breadth of management and truly state-of-the art case management technology." FNAMS is a facet of Fidelity National Financial 's default division which includes the following national services designed to assist investors, servicers and owners of non-performing loans: foreclosure, bankruptcy and eviction processing, real estate valuations, field service and property preservation work, preparation, research and recording of releases, and reconveyances, foreclosure posting and publishing, REO title and escrow, title curative, and electronic bill presentment.

According to Freddie Mac, the sale does not involve intellectual property or other assets from Freddie Mac. The sale also does not involve the transfer of staff. Freddie Mac says that the sale will provide an economic return and further streamline and automate its own inventory processes. Freddie Mac's staff working on third party contracts is being reassigned to the company's portfolio and community development lending initiatives.

Fidelity National Asset Management Solutions is a division of Fidelity National Financial Inc. (NYSE: FNF). Fidelity, a Fortune 500 company, is the nation's largest title insurance and diversified real estate related services company. FNF had total revenue of nearly $3.9 billion and earned more than $300 million in 2001, with cash flow from operations of more than $425 million. The Company's title insurance underwriters -- Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title -- together issue approximately 30 percent of all title insurance policies nationally. The Company provides title insurance in 49 states, the District of Columbia, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and Canada.

In addition, Fidelity, through its principal subsidiaries, performs other real estate-related services such as escrow, flood certifications, real estate tax services, credit reporting, property appraisal services, exchange intermediary services in connection with real estate transactions, home warranty insurance and real estate information and technology services. More information about FNAMS can be found on www.default.fnf.com/fnams/index.html or www.fnams.com. For more information about FNF, visit www.fnf.com.