First Advantage (FA) 8-K First Advantage Corporation Reports

EXHIBIT 99.1

NEWS FOR IMMEDIATE RELEASE

Contacts:
Henri Van Parys	Cindy Williams
Corporate Communications Manager	Investor Relations Manager
727.214.1072	727.214.3438
henri.vanparys@FADV.com	clwilliams@FADV.com

FIRST ADVANTAGE CORPORATION REPORTS

OPERATING RESULTS FOR THE SECOND QUARTER OF 2008

POWAY, Calif., July 28, 2008—First Advantage Corporation (NASDAQ: FADV) (“the Company”), a global risk mitigation and business solutions provider, today announced operating results for the second quarter ended June 30, 2008.

First Advantage reported income from continuing operations of $13.7 million (23 cents per diluted share) for the quarter ended June 30, 2008, compared to $18.2 million (31 cents per diluted share) for the quarter ended June 30, 2007. Results of operations for the quarter ended June 30, 2008 include a restructuring charge of $1.7 million ($1 million after tax or 2 cents per diluted share) primarily relating to consolidation of facilities in the Employer Services and Lender Services segments. Earnings were negatively impacted by $1.8 million in the Employer Services segment due to a portion of the restructuring charge, and the expiration in the third quarter of 2007 of the Hurricane Katrina tax credit legislation. This reduced operating margins in this segment by approximately 3 percentage points. The Dealer Services, Multifamily Services and Investigative and Litigation Support Services segments all reported increased earnings and margins.

Total revenue for the company was $195.5 million and $210.1 million for the quarters ended June 30, 2008 and 2007, respectively.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $35.3 million and $44 million for the quarters ended June 30, 2008 and 2007, respectively.

“Earnings in the Lender Services, Employer Services and Data Services segments declined primarily due to the challenging economic environment in the mortgage industry and a weakening U.S. labor market. We are in the midst of aggressive cost reduction initiatives that will improve efficiencies in future quarters,” stated Anand Nallathambi, president and chief executive officer.

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First Advantage Corporation Reports Operating Results for the Second Quarter of 2008

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In the quarter ended June 30, 2008, the Company completed the previously announced sale of Credit Management Solutions, Inc., its automotive consumer credit software business, and of First Advantage Investigative Services, its investigative and surveillance business. Loss from discontinued operations for the quarter ended June 30, 2008 was $1.3 million, net of tax (2 cents per diluted share). Income from discontinued operations for the quarter ended June 30, 2007, also includes the results of operations for US SEARCH.com, the Company’s consumer location business which was sold in the fourth quarter of 2007. “Now that the strategic repositioning and disposition of non-strategic assets are almost over, we remain committed to generating long-term shareholder value by focusing on product expansion and enhancing operational efficiencies,” stated Mr. Nallathambi.

First Advantage’s second quarter 2008 results will be discussed in more detail onMonday, July 28, 2008, at 5:00 p.m. EDT, via teleconference and webcast. The teleconference dial-in number is 888.889.1652 within the U.S. and 210.795.9764 outside the U.S. The teleconference pass code is “Advantage”. The live audio webcast of the call will be accessible from the Investor Relations section of First Advantage’s Web site atwww.FADV.com. An audio replay of the teleconference call will be available through August 11, 2008, by dialing 800.839.3420 within the U.S., or 402.998.1036 outside the U.S. An audio archive of the webcast will also be available for replay on First Advantage’s Web site following the call.

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First Advantage Corporation Reports Operating Results for the Second Quarter of 2008

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Summary Consolidated Income Statement (Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands, except per share amounts)	2008			2007			2008			2007
Service revenue	$	182,423		$	196,641		$	370,677		$	387,828
Reimbursed government fee revenue		13,122			13,470			27,147			27,544
Total revenue		195,545			210,111			397,824			415,372
Cost of service revenue		53,487			58,461			107,203			117,300
Government fees paid		13,122			13,470			27,147			27,544
Total cost of sales		66,609			71,931			134,350			144,844
Gross margin		128,936			138,180			263,474			270,528
Salaries and benefits		62,927			62,745			129,376			133,386
Facilities and telecommunications		8,084			7,800			16,284			15,518
Other operating expenses		22,909			23,787			45,743			46,374
Depreciation and amortization		11,023			9,825			20,919			19,362
Income from operations		23,993			34,023			51,152			55,888
Interest (expense) income:
Interest expense		(1,075	)		(3,097	)		(1,500	)		(6,323	)
Interest income		172			309			591			641
Interest (expense) income, net		(903	)		(2,788	)		(909	)		(5,682	)
Equity in earnings of investee		—			670			—			1,450
Income from continuing operations before income taxes and minority interest		23,090			31,905			50,243			51,656
Provision for income taxes		9,676			13,241			20,650			21,279
Income from continuing operations before minority interest		13,414			18,664			29,593			30,377
Minority interest		(238	)		469			(325	)		1,029
Income from continuing operations		13,652			18,195			29,918			29,348
(Loss) income from discontinued operations, net of tax		(1,264	)		152			(4,241	)		242
Net income	$	12,388		$	18,347		$	25,677		$	29,590
Per share amounts:
Basic earnings per share
Income from continuing operations	$	0.23		$	0.31		$	0.50		$	0.50
Loss from discontinued operations, net of tax		(0.02	)		—			(0.07	)		—
Net income	$	0.21		$	0.31		$	0.43		$	0.50
Diluted earnings per share
Income from continuing operations	$	0.23		$	0.31		$	0.50		$	0.50
Loss from discontinued operations, net of tax		(0.02	)		—			(0.07	)		—
Net income	$	0.21		$	0.31		$	0.43		$	0.50
Basic weighted-average shares outstanding		59,435			58,954			59,297			58,665
Diluted weighted-average shares outstanding		59,617			59,445			59,374			59,130
EBITDA calculation:
Net income	$	12,388		$	18,347		$	25,677		$	29,590
Provision for income taxes		9,676			13,241			20,650			21,279
Interest expense		903			2,788			909			5,682
Income (loss) from discontinued operations, net of tax		1,264			(152	)		4,241			(242	)
Depreciation and amortization		11,023			9,825			20,919			19,362
Earnings before interest, taxes, depreciation and amortization (EBITDA)*	$	35,254		$	44,049		$	72,396		$	75,671

* EBITDA is not a measure of financial performance under generally accepted accounting principles. EBITDA is used by certain investors to analyze and compare companies.

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First Advantage Corporation Reports Operating Results for the Second Quarter of 2008

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Segment Financial Information (Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands, except percentages)	2008			2007			2008			2007
Service revenue
Lender Services	$	33,680		$	43,682		$	72,994		$	90,294
Data Services		27,882			32,615			56,511			66,312
Dealer Services		24,955			27,489			50,881			54,825
Employer Services		55,511			57,971			109,198			112,796
Multifamily Services		19,986			19,676			38,335			37,281
Investigative & Litigation Support Services		21,178			15,752			44,681			28,075
Corporate		(769	)		(544	)		(1,923	)		(1,755	)
Consolidated	$	182,423		$	196,641		$	370,677		$	387,828
Income (Loss) from operations
Lender Services	$	5,518		$	11,686		$	14,983		$	24,342
Data Services		5,561			9,976			11,694			20,661
Dealer Services		4,646			3,743			9,165			7,411
Employer Services		3,004			6,799			6,475			11,910
Multifamily Services		6,569			5,866			11,341			10,180
Investigative & Litigation Support Services		7,535			5,027			17,060			7,948
Corporate		(8,840	)		(9,074	)		(19,566	)		(26,564	)
Consolidated	$	23,993		$	34,023		$	51,152		$	55,888
Operating margin percentage of service revenue
Lender Services		16.38	%		26.75	%		20.53	%		26.96	%
Data Services		19.94	%		30.59	%		20.69	%		31.16	%
Dealer Services		18.62	%		13.62	%		18.01	%		13.52	%
Employer Services		5.41	%		11.73	%		5.93	%		10.56	%
Multifamily Services		32.87	%		29.81	%		29.58	%		27.31	%
Investigative & Litigation Support Services		35.58	%		31.91	%		38.18	%		28.31	%
Corporate		N/A			N/A			N/A			N/A
Consolidated		13.15	%		17.30	%		13.80	%		14.41	%

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First Advantage Corporation Reports Operating Results for the Second Quarter of 2008

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About First Advantage Corporation

First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and specialty finance markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; corporate and litigation investigations; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software and renters insurance. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in Poway, Calif., and more than 4,700 employees in offices throughout the United States and abroad. More information about First Advantage can be found atwww.FADV.com.

First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a FORTUNE 500^® company that traces its history to 1889. First American is America’s largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people’s lives. Additional information about the First American Family of Companies can be found atwww.firstam.com.

Certain statements in this press release including those related to cost reduction initiatives and impact on improved efficiencies in the future quarters, product expansion and enhanced operational efficiencies are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company’s Class A common stock; interest rate fluctuations; changes in the real estate market; changes in employment trends; limit on access to public records; the company’s ability to successfully raise capital; the company’s ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; heightened regulations and regulatory scrutiny; the degree and nature of the company’s competition; increases in the company’s expenses; inability to realize the benefits of offshore strategy; continued consolidation among the company’s competitors and customers; unanticipated technological changes and requirements; the company’s ability to identify suppliers of quality and cost-effective data; and other risks identified from time-to-time in the company’s SEC filings. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Investors are advised to consult the company’s filings with the SEC, including its 2007 Annual Report on Form 10-K, 2008 First Quarter Report on Form 10-Q and any subsequent amendments, for a further discussion of these and other risks.

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