FNF issued approximately 3.2 million shares of FNF common stock to holders of ANFI common stock, with each share of ANFI common stock exchanged for 0.4540 shares of FNF common stock.

FNF says the ANFI acquisition is a key component to a strategy to expand its Ticor Title brand of title insurance. Fidelity plans to operate the ANFI acquisition under the Ticor brand name, capitalizing on ANFI's operations and referral network throughout the Western US, particularly in California, Arizona and Nevada. ANFI has 106 branches and Fidelity, 1,100 locations.

Irvine-based Fidelity National Financial Inc. posted total revenue of $5.1 billion and earned more than $530 million in 2002. The Company's title insurance underwriters include Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title, which together issue approximately 30% of all title insurance policies nationally. Fidelity's other real estate-related services include escrow, default management, flood and home warranty insurance, and real estate and technology services.