EXHIBIT 99

Contact:
Tom Klemens
Executive Vice President & Chief Financial Officer
(714) 800-4402

                   FIRST AMERICAN EXPECTS TO REPORT LOSSES AND
                       ANNOUNCES STOCK REPURCHASE PROGRAM
                      - Quarterly Cash Dividend Declared -

SANTA ANA, Calif., - December 10, 1999 The First American Financial  Corporation
(NYSE:  FAF), the nation's leading provider of business  information and related
products and services,  announced today that it expects to report a loss for the
fourth  quarter of 1999 and the first  quarter of 2000.  The  company  indicated
that,  among other factors,  the impact of the current interest rate environment
on the real estate  market,  seasonal  fluctuations  and costs  associated  with
continuing  adjustment  to  declining  new order  counts  continue to affect its
profitability.

         First  American  also  announced  today that its board of directors has
approved the repurchase of up to 5 percent of the company's currently issued and
outstanding  common shares.  Purchases of shares would be made from time to time
in open market  transactions at prevailing  prices. The amount and timing of any
share repurchases will depend on, among other factors, the market performance of
the shares,  the  availability  of, and alternative uses of, the company's funds
and Securities and Exchange Commission regulations.

         In  reaction  to the board of  directors'  action,  Parker S.  Kennedy,
president of The First American Financial  Corporation,  said:  "Considering the
diversification  of the company  and its  prospects  for growth,  we believe our
shares are  significantly  undervalued.  Repurchasing  our shares  represents an
excellent   investment   opportunity  and  is  consistent  with  our  continuing
commitment to enhance shareholder value."

         First American noted that while the company does not typically  comment
on its earnings expectations,  and does not undertake to do so in the future, it
believes  the   announcement  of  the  share   repurchase  today  warrants  such
disclosure.

         The company also  announced  that its board of directors has declared a
regular  quarterly cash dividend of 6 cents per common share.  The cash dividend
is payable on Jan.  14,  2000,  to  shareholders  of record as of Dec. 31, 1999.
First American has paid a cash dividend every year since 1909.

         The First American Financial  Corporation,  based in Santa Ana, Calif.,
is the nation's  leading  provider of business  information and related products
and services.  The corporation's three primary business segments include:  title
insurance;  real  estate  information  and  services,  which  includes  mortgage
origination, mortgage servicing and database products and services; and consumer
information and services, which provides home warranties;  automotive,  subprime
and  direct-to-consumer  credit  reporting;  property  and  casualty  insurance;
property  and  automotive  insurance  tracking  services;   resident  screening;
pre-employment screening;  lender-placed flood and hazard insurance;  investment
advisory;  and trust and banking services.  Information about the company and an
archive of its press releases can be found on the Internet at www.firstam.com.

         Any statements in this document that look forward in time involve risks
and  uncertainties,  including but not limited to the  following:  the effect of
interest  rate  fluctuations;  changes  in the  performance  of the real  estate
markets; the effect of changing economic  conditions;  general volatility in the
capital  markets;  the demand for and the acceptance of the company's  products;
changes in applicable government regulations;  continued consolidation among the
company's significant  customers;  consolidation among significant  competitors;
the impact of the legal proceedings commenced by the California attorney general
and related  litigation;  the  continued  ability to identify  businesses  to be
acquired;  changes in the  company's  ability to integrate  businesses  with its
acquires;  and the  contingencies  associated  with the  Year  2000  issue.  The
company's  actual results,  performance or achievement  could differ  materially
from those  expressed in, or implied by, any  forward-looking  statements,  and,
accordingly,  no assurances  can be given that any of the events  anticipated by
the  forward-looking  statements  will transpire or occur or, if any of them do,
what impact they will have on the results of operations  or financial  condition
of the company.