S&P: LandAmerica's Title Outlook 'Stable'

The rating outlook for the title insurance operations of LandAmerica Financial Group Inc., Richmond, Va., has been revised from negative to stable by Standard & Poor's Ratings Services.S&P also affirmed its A-minus counterparty credit and financial strength ratings on LandAmerica. The rating agency said it revised LandAmerica's outlook because its market position as the third-largest domestic title insurer has stabilized. S&P said it expects LandAmerica to be "well positioned to manage any downturn or moderation in the real estate sector given the variable cost structure of its predominant agency distribution channel, which accounted for 54% of total title revenues as of Sept. 30, 2003." S&P can be found online at http://www.standardandpoors.com.