Fitch: LandAmerica's Outlook 'Negative'

The rating outlook for LandAmerica Financial Group Inc., Richmond, Va., has been revised from stable to negative by Fitch Ratings.Fitch said it took the action because LandAmerica, the third-largest title insurer in the nation, "has not yet attained optimal consolidated operating performance during one of the strongest real estate markets in recent history. This view is supported by recent exits of ancillary real estate operations that had not generated favorable operating performance." Therefore, Fitch continued, LandAmerica is more reliant on its title business than some industry peers who have profitable ancillary service operations. In addition, LandAmerica's market share fell from 20.9% at the end of 2000 to 19.8% at the end of 2001. Fitch can be found online at http://www.fitchratings.com.