EXHIBIT 99.1

FNF Reports Second Quarter 2003 EPS of $1.78; $2.97 for Six Months Ended June 30, 2003

Jacksonville, Fla. — (July 23, 2003) — Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products, services and solutions to the real estate and financial services industries, today reported operating results for the three and six-month periods ended June 30, 2003.

2nd Quarter 2003	2nd Quarter 2002
Net Earnings	Net Earnings
$248.3 million	$112.3 million
$1.78 per diluted share	$0.90 per diluted share

Six Months Ended June 30, 2003	Six Months Ended June 30, 2002
Net Earnings	Net Earnings
$391.8 million	$213.3 million
$2.97 per diluted share	$1.73 per diluted share

• Revenue for the second quarter of 2003 was $2.0 billion, compared with $1.1 billion for the second quarter of 2002

• Total title premiums were $1.2 billion for the second quarter of 2003 versus $796 million for the prior year period

• Revenue from Fidelity Information Services was $209 million for the second quarter of 2003, after the April 1, 2003 acquisition

• Real estate related services revenue was $193 million for the second quarter of 2003, compared with $122 million for the second quarter of 2002

• Cash flow from operations was $415 million for the second quarter of 2003

• Annualized return on average equity was 35.8 percent for the second quarter of 2003

• The Company repurchased 712,375 shares of its common stock for $21.0 million during the second quarter of 2003 and has repurchased a total of 4,004,963 shares for $101.9 million from inception of its systematic repurchase program on May 15, 2002 through June 30, 2003

     “This was another tremendous quarter for FNF, as we achieved record quarterly revenue, net earnings and cash flow from operations,” said Chairman and Chief Executive Officer William P. Foley, II. “Total revenue topped $2 billion for the first time in the history of the company, net earnings were nearly $250 million and cash flow from operations was $415 million. We achieved these results because of the strength of the residential real estate markets, the surge in refinance transactions and the recurring revenue and earnings contribution from Fidelity Information Services, which contributed nearly $210 million in incremental revenue in the second quarter. The outsourcing and processing services revenue provided by the mortgage loan servicing and core bank and loan processing platforms of Fidelity Information Services supply a stable, long-term, contractual, recurring stream of revenue and earnings that is not correlated with the mortgage cycle. One of our strategies is to better balance FNF’s financial profile with significant contributions from our core title insurance business, real estate related services and outsourced processing solutions for the mortgage and financial services markets. More stable revenue and earnings should provide a higher multiple of earnings for FNF’s stock, giving us a higher valued currency for future acquisitions in the core processing area.”

     The following table depicts monthly direct orders opened and closed for the second quarter of both 2003 and 2002:

Month		Direct Orders Opened		Direct Orders Closed		Closing %
	April 2003		458,000		344,700		75	%
	May 2003		561,900		331,500		59	%
	June 2003		653,700		360,400		55	%
Second Quarter 2003			1,673,600		1,036,600		62	%
	April 2002		208,500		157,800		76	%
	May 2002		215,800		158,400		73	%
	June 2002		218,600		147,900		68	%
Second Quarter 2002			642,900		464,100		72	%

     “Once again, open orders gained significant volume during the quarter, growing from 20,000 open orders per day in April and peaking at more than 30,000 open orders per day in June,” said President Randy Quirk. “We are well positioned as we enter the third quarter.”

     Fidelity National Financial, Inc., number 326 on the Fortune 500, is a provider of products, services and solutions to the real estate and financial services industries. The Company had total revenue of $3.4 billion and earned nearly $400 million in the first six months of 2003, with cash flow from operations of more than $600 million for that same period. FNF is the nation’s largest title insurance company and also performs other real estate-related services such as escrow, default management, mortgage loan fulfillment, exchange intermediary services and homeowners, flood and home warranty insurance. FNF is also one of the world’s largest providers of information-based technology solutions and processing services to the mortgage and financial services industries through its subsidiary Fidelity Information Services. It processes nearly 50 percent of all U. S. residential mortgages, with balances exceeding $2.5 trillion, has processing and technology relationships with 48 of the top 50 U. S. banks and has clients in more than 50 countries who rely on Fidelity Information Services’ processing and outsourcing products and

services. Including mortgages, more than 34 percent of the total dollar volume of all outstanding consumer loans in the country are processed on Fidelity Information Services software applications. Fidelity National Information Solutions (NASDAQ: FNIS), a majority-owned, publicly traded subsidiary of FNF, provides data and valuations, technology solutions and services for the real estate and mortgage industries. More information about the FNF family of companies can be found at www.fnf.com, www.fidelityinfoservices.com and www.fnis.com.

     This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those expressed or implied above. The Company expressly disclaims any duty to update or revise forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition and other risks detailed from time to time in the “Management’s Discussion and Analysis” section of the Company’s Form 10-K and other reports and filings with the Securities and Exchange Commission.

SOURCE: Fidelity National Financial, Inc.

CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations,

805-696-7218, dkmurphy@fnf.com

FIDELITY NATIONAL FINANCIAL, INC.
SUMMARY OF EARNINGS
(In thousands, except per share amounts and order information)
(Unaudited)

		Three months ended				Six months ended
		June 30,				June 30,
		2003		2002		2003		2002
Direct title premiums		$	659,601	$	357,143	$	1,132,831	$	694,319
Agency title premiums			523,442		439,346		1,017,873		831,532
	Total title premiums		1,183,043		796,489		2,150,704		1,525,851
Escrow and other title-related fees			368,791		199,528		635,718		388,823
Real estate related services			193,129		121,592		367,334		237,501
Information services			209,378		—		209,378		—
Interest and investment income			14,637		18,903		31,694		37,184
Realized investment gains			33,254		627		39,887		7,685
Other income			4,069		5,825		8,462		12,780
	Total revenue		2,006,301		1,142,964		3,443,177		2,209,824
Personnel costs			667,533		335,742		1,108,872		665,880
Other operating expenses			444,254		236,177		759,863		457,300
Agent commissions			406,666		343,454		793,879		652,425
Claim loss expense			64,995		39,824		113,379		76,292
Interest expense			10,871		9,011		18,931		17,628
	Total expenses		1,594,319		964,208		2,794,924		1,869,525
Earnings before income taxes			411,982		178,756		648,253		340,299
Income tax expense			156,554		64,353		243,974		122,507
Minority interest			7,168		2,117		12,440		4,521
Net earnings		$	248,260	$	112,286	$	391,839	$	213,271
Net earnings per share – basic		$	1.84	$	0.94	$	3.07	$	1.79
Net earnings per share – diluted		$	1.78	$	0.90	$	2.97	$	1.73
Weighted average shares – basic			134,854		119,463		127,663		118,845
Weighted average shares – diluted			139,284		124,180		131,787		123,189
Direct orders opened			1,673,600		642,900		2 929,900		1,246,600
Direct orders closed			1,036,600		464,100		1,783,500		956,900

SUMMARY BALANCE SHEET INFORMATION
(In thousands, except per share amounts)

	June 30,		December 31,
	2003		2002
	(Unaudited)
Cash and investment portfolio	$	3,119,836	$	3,048,208
Goodwill		1,631,267		996,613
Capitalized software and other intangible assets		725,232		145,391
Total assets		6,900,017		5,245,744
Notes payable		716,615		493,458
Reserve for claim losses		911,666		887,973
Total equity		3,034,733		2,253,936
Book value per share		22.52		18.84

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