FNF Fidelity National Financial Inc

JACKSONVILLE, Fla., May 22 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc., (NYSE:FNF), a Fortune 500 provider of outsourced products and services to a variety of industries, today announced that it has acquired an approximately 70% controlling interest in Cascade Timberlands LLC ("Cascade Timberlands"). The primary assets of Cascade Timberlands are approximately 293,000 acres of productive timberlands, known as Oregon tree farm, located on the eastern side of the Cascade mountain range extending from Bend, Oregon south on State Highway 20 toward the California border. Cascade Timberlands was created by the secured creditors of Crown Pacific LP upon the conclusion of the bankruptcy case of Crown Pacific LP in December 2004. "We intend to review all twenty-six properties in the Oregon tree farm and determine the optimal use for each property on its own and in relation to the other properties," said Chairman and Chief Executive Officer William P. Foley, II. "This may entail utilizing the timber assets themselves, conservation and preservation of the land or the exploration of other alternative development uses for the timberland. We have also had preliminary conversations with Deschutes Basin Land Trust concerning the Skyline Forest section of the timberlands and we will continue to work with that Land Trust in pursuit of our respective goals." Fidelity National Financial, Inc., number 248 on the Fortune 500, is a provider of outsourced products and services to a variety of industries. Through its majority-owned, publicly-traded subsidiary, Fidelity National Title Group, Inc. (NYSE:FNT), FNF is one of the nation's largest title insurance companies, with nearly 31 percent national market share. Through its majority-owned, publicly-traded subsidiary, Fidelity National Information Services, Inc. (NYSE:FIS), FNF provides an industry leading suite of data processing, payment and risk management services to financial institutions and retailers. Through its wholly-owned subsidiaries, FNF is also a leading provider of specialty insurance products, including flood insurance, homeowners insurance and home warranty insurance. Through its minority-owned subsidiary, Sedgwick CMS, FNF is a leading provider of outsourced insurance claims management services to large corporate and public sector entities. More information about the FNF family of companies can be found at http://www.fnf.com/ , http://www.fntg.com/ , http://www.fidelityinfoservices.com/ and http://www.sedgwickcms.com/ . This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on operating subsidiaries as a source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission. DATASOURCE: Fidelity National Financial, Inc. CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations, Fidelity National Financial, +1-904-854-8120, or Web site: http://www.fnf.com/ http://www.fntg.com/ http://www.fidelityinfoservices.com/ http://www.sedgwickcms.com/

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