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Home > About Us > Press Releases > May 05, 2004

MONROE TITLE INSURANCE CORPORATION DECLARES DIVIDEND AND ANNOUNCES FIRST QUARTER, 2004 OPERATING RESULTS

FOR IMMEDIATE RELEASE May 05, 2004

INQUIRIES TO:  Thomas A. Podsiadlo - CFO or Thomas P. Moonan - CEO at (585) 232-2070


Monroe Title Insurance Corporation (OTCBB: MTTL), today announced a dividend of $ .05 per share, payable on May 13, 2004 to shareholders of record on May 6, 2004.

Monroe also announced today its first quarter, 2004 results. Revenues for the first quarter 2004 were $6.1 million and net income was $176,913 or $ .16 per share.

In making the announcement, Thomas P. Moonan, Monroe's President and Chief Executive Officer, noted "I am very pleased with the results for the first quarter, 2004. Interest rates remained low during this first quarter of 2004 which helped to generate these positive results. Home purchases, mortgage refinancing and equity lending continued strong but at a somewhat slower pace than last year. Investment returns also improved during the quarter and contributed to these fine results."

Monroe Title Insurance Corporation provides a full range of title insurance and abstract services throughout western, central and upstate New York. Headquartered in Rochester, New York, the Company has 23 full service and subsidiary offices and a network of agents and examining counsel throughout the State.


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