GITC Yearly Business Review

Continued low interest rates, moderate economic growth and a strong real estate market allowed Greater Illinois Title Company (GIT) to complete its fiscal year with revenue and earnings higher than expected. The company exceeded its revenue expectations by 12.5 per cent while closing 79.2 per cent of all transactions ordered by customers. The company exceeded growth objectives by increasing market share and revenue in targeted market segments.

In 2004, Greater Illinois Title Company saw total order volume decrease by 20.3% and total closing volume decrease by 25.2%. As expected, refinance orders accounted for the all of the decrease in orders and closings. However, the company was successful in achieving revenue increases in targeted segments to partially offset an overall drop in sales revenue resulting from fewer refinance transactions.

Strategically, 2004 was a year of positive change. The company continued its commitment to building on its reputation of integrity, professionalism and customer service. Exceptional customer service remains the key fundamental and in 2004, new customer service training initiatives were launched and completed in the first quarter. GIT made calculated strategic moves by opening offices in the high growth areas of Will County (Shorewood) and McHenry County (Crystal Lake). The company will continue to take advantage of growth opportunities to advance its core title business. Also this past year, the company implemented a VOIP (Voice Over Internet Protocol) phone system in five offices with plans to expand it to all GIT offices within a year. This new technology utilizes the GIT computer data network for the transmission of local and long distance telephone calls. Cost savings and enhanced communication capabilities will be realized.

GIT continues to dedicate resources to specific market segments in an effort to diversify its product lines and revenue. In 2004, the commercial/construction division saw an increase in revenue of 27 per cent and it continues to be a major contributor to the company's revenue growth. This is a result of devoting critical resources to ensure that customers are serviced with the highest level of professionalism and customer service. In this market segment, GIT offers an expanded menu of products and services for customers by providing 'one-stop' shopping capabilities for commercial, industrial, condominium and new construction projects. This includes acting as a Qualified Intermediary to facilitate the use of 1031 tax deferred exchanges through GIT's wholly owned subsidiary, Greater Illinois Tax Deferred Exchange Corporation. Land surveys ordered through Greater Illinois Survey Company, allow parties to review the surveys along with the title insurance commitment prior to closing to ensure that closing problems are minimized and closing deadlines are met. The Rapid Title Services Department (RTS), a separate division that provides short-form title commitments and title searches for a variety of customers, continued its growth in 2004 by increasing revenue 11% over the previous year.

Another targeted segment resulted in the steady growth of the Gateway Services Program. Through this program, GIT offers title and closing services to policy-issuing agents of Chicago Title Insurance Company. The company has successfully grown this market segment with nearly 800 title agents utilizing GIT as a title and escrow services provider. By providing personalized customer serviceand attending to the needs of attorneys and their clients, GIT has grown its revenue and market share in this critical segment.

GIT is celebrating its 20th Anniversary in 2005. Since 1985, Greater Illinois Title Company has been providing the Chicago area with an innovative range of title insurance, escrow closing and real estate information services. What started out as a little start-up title company with nine employees has grown to over 130 employees today. GIT is now the largest title agent in Illinois and one of the largest title agents in the country. During its history, the company has achieved impressive growth in a highly competitive market by making a commitment to speed, reliability and exceptional customer service. Today, as a market leader, GIT can handle any transaction within the state of Illinois and throughout the United States. This ' one-stop' shopping provides a more efficient way for GIT customers to meet the needs of their clients regardless of where the property is located.

About Greater Illinois Title
Greater Illinois Title, celebrating its 22nd Anniversary in 2007, is Chicago Title's largest title agent in Illinois and one of its largest title agents in the country. The company provides title insurance, construction and commercial escrow services, sale and refinance closing services, 1031 tax deferred exchanges, land surveys and real estate information in the Chicago metro region. It currently operates through a network of nineteen offices located in Arlington Heights, Crystal Lake, Downers Grove, Geneva, Homewood, Joliet, Libertyville, Lindenhurst, Naperville, Oak Lawn, Oak Park, Shorewood, Tinley Park, Waukegan, Westchester, Wheaton, Yorkville, in Chicago on North Milwaukee Avenue and in the Loop at 120 N. La Salle Street. Greater Illinois Title is authorized to write Title Insurance and issue policies in the Counties of Cook, DeKalb, Du Page, Grundy, Lake, Kane, Kankakee, Kendall, Lake, LaSalle, McHenry and Will. The company coordinates title insurance and escrows in all Illinois Counties and across the United States.