Three Months Ended     Three Months Ended                                     June 30, 2009          June 30, 2008                                  --------------------    ------------------            Total revenue               $1.57 billion         $1.17 billion   Net earnings attributable to         common shareholders            $91.9 million          $6.9 million      Net earnings per diluted     share attributable to common             shareholders                       $0.40                 $0.03      Cash flow from operations        $154.8 million         $12.8 million                                    Six Months Ended        Six Months Ended                                    June 30, 2009           June 30, 2008                              ---------------------    ------------------          Total revenue                $2.93 billion         $2.29 billion   Net earnings attributable      to common shareholders           $79.5 million         $34.2 million     Net earnings per diluted      share attributable to       common shareholders                     $0.35                 $0.16   Cash flow from (used in)           operations                 $283.2 million        ($62.0 million)    

The following are summary financial and operational results for the operating segments of FNF for the three-month and six-month periods ended June 30, 2009 and 2008:

   Fidelity National Title Group ("FNT")                        Three Months Ended    Three Months Ended                         June 30, 2009         June 30, 2008                      --------------------   -------------------      Total revenue           $1.45 billion        $1.04 billion   Pre-tax earnings          $133.3 million         $5.1 million     Pre-tax margin                    9.2%                 0.5%                         Six Months Ended        Six Months Ended                        June 30, 2009            June 30, 2008                      --------------------   -------------------       Total revenue           $2.71 billion        $2.05 billion   Pre-tax earnings          $140.6 million        $58.2 million     Pre-tax margin                    5.2%                 2.8%             Month               Direct Orders Opened     Direct Orders Closed           -----               --------------------     --------------------          April 2009                      300,400                 172,500          May 2009                       243,200                 171,300          June 2009                      202,200                 180,300                                         -------                 -------     Second Quarter 2009                 745,800                 524,100                                         =======                 =======             Month              Direct Orders Opened     Direct Orders Closed            -----              --------------------     --------------------         April 2008                      168,900                 113,200          May 2008                       156,900                  99,800          June 2008                      136,800                  94,500                                         -------                 -------     Second Quarter 2008                 462,600                 307,500                                         =======                 =======                         Open        Closed         Commercial                     Commercial   Commercial        Revenue     Commercial                      Orders       Orders      (In thousands)  Fee Per File                   ------------ -------------  --------------   -------------   2nd Quarter 2009      23,200       13,300          $52,200         $3,900   2nd Quarter 2008      16,000        9,300          $59,600         $6,400   

- The preceding table only includes commercial activity from FNF's commercial offices in the national commercial division and does not attempt to capture potential commercial activity in our local offices.

   Specialty Insurance                       Three Months Ended         Three Months Ended                          June 30, 2009              June 30, 2008                     ------------------------   --------------------     Total revenue              $98.1 million          $97.1 million   Pre-tax earnings             $14.5 million          $13.2 million     Pre-tax margin                      14.7%                  13.6%                        Six Months Ended             Six Months Ended                        June 30, 2009                June 30, 2008                     ----------------------      -------------------     Total revenue            $184.9 million          $185.6 million   Pre-tax earnings            $27.7 million           $22.6 million     Pre-tax margin                     15.0%                   12.2%    

"The second quarter was successful on a number of fronts," said Chairman William P. Foley, II. "First, we achieved a significant increase in revenue and earnings in the title business as we began to close a meaningful number of the orders we opened in the first quarter and early second quarter, producing a 9.2% pre-tax margin for the full quarter. Additionally, we exceeded a 10% pre-tax title margin for the month of June."

"We effectively completed the integration of Lawyers and Commonwealth during the second quarter, generating an additional $32 million in cost synergies, in addition to the $231 million in cost synergies previously realized, for a total cost reduction of $263 million. These underwriters are now fully integrated into the FNF family and we look forward to their continued significant contribution to our market-leading title insurance business in the future."

"In April we were successful in issuing 18.2 million shares of our common stock for approximately $331 million in proceeds to further strengthen our balance sheet. The proceeds were primarily used to reduce the outstanding balance on our credit facility and to repurchase some of our existing public debt, resulting in a 22% debt to capital ratio at the end of the second quarter versus our credit facility limit of 35%."

"Overall, the title insurance market has improved considerably in the first half of 2009, albeit with some volatility, as the significant increase in open order volumes slowed down late in the second quarter as mortgage rates increased. Order counts in July have been consistent with the levels we experienced for most of the month of June and we believe we are in a position to continue to generate solid profitability in today's market environment."

Fidelity National Financial, Inc. , is a leading provider of title insurance, mortgage services, specialty insurance, claims management services and information services.