Fidelity National Financial (FNF) Receives IRS Letter Regarding Merger with Fidelity National Information Services (FIS)

October 9, 2006 7:55 AM EDT

Fidelity National Financial, Inc. (NYSE: FNF) announced that it has received a formal private letter ruling from the Internal Revenue Service that the previously announced distribution of Fidelity National Title Group, Inc. (NYSE: FNT) stock to FNF shareholders and the merger of FNF with and into Fidelity National Information Services, Inc. (NYSE: FIS) will be tax-free to FNF and its shareholders. FNF shareholders will recognize a gain or loss on the receipt of cash in lieu of any fractional shares in both the distribution of FNT common stock and in the merger of FNF with and into FIS.

The merger of FNF with and into FIS is currently expected to occur on November 9, 2006. Under the terms of the merger, FNF shareholders will receive an aggregate number of shares of FIS common stock equal to the number of shares of FIS common stock held by FNF on the closing date of the merger. The final exchange ratio will be announced following the closing of the merger.

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