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Welcome! ANNUAL SHAREHOLDERS meeting May 20, 2004.

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Presentation on theme: "Welcome! ANNUAL SHAREHOLDERS meeting May 20, 2004."— Presentation transcript:

1 Welcome! ANNUAL SHAREHOLDERS meeting May 20, 2004

2 May 2004 introduction  Result of the June 2003 Merger of The First American Corporation’s Screening Technologies Division and US  More than 1,700 Employees Today  Corporate HQ in St. Petersburg, FL  Offices Across the United States and Abroad  Ranked Among Top Three Providers in Major Business Lines

3 May 2004 stock BASICS  NASDAQ Ticker: FADV  75% Owned by First American (NYSE: FAF)  10% by Pequot Capital Management  TSO: 21.4 Million Shares –Class A Common (Tradable): 5.4 Million Shares –Class B Common (Non-tradable; Owned by FAF): 16 Million Shares

4 May 2004 business LINES

5 May 2004 ENTERPRISE screening segment  Employment Background Services –Criminal Records –Employment Verification –Education Verification –Credit Reports –Social Security Number Verification –Motor Vehicle Records USP: We provide a flexible, integrated employment screening program designed to maximize due diligence and reduce time to hire – improving our client’s workflow. Client Base: 240 of F1000; 10,000+ Companies Nationwide

6 May 2004 ENTERPRISE screening segment  Occupational Health Services –Drug-Free Workplace Programs –Occupational Health Testing  Physical Examinations  Other Required Medical Tests –Employee Assistance Programs USP: We provide a flexible, integrated employment screening program designed to maximize due diligence and reduce time to hire – improving our client’s workflow. Client Base: 240 of F1000; 10,000+ Companies Nationwide

7 May 2004 ENTERPRISE screening segment  Tax Retrieval, Credit, Compliance and Consulting Services –Employment Tax Incentives & Credits  WOTC/WtW  Business Location –Sales and Use Tax Services  Consulting, Overpayment Recovery, Compliance and Monitoring –Transportation Consulting Services  Fleet Asset Management and Compliance  Fuel Tax Consulting and Recovery USP: We provide turnkey tax retrieval services focused on identifying and securing tax benefits for corporate clients -- maximizing their tax savings and incentive benefits while ensuring compliance. Client Base: 400+ Nationwide

8 May 2004 ENTERPRISE screening segment  Resident Screening Services –Eviction Court Records, Rental Histories and Payment Trends Database –Criminal Record Checks and Database –Lease Performance/Payment History –Consumer/Business Credit Reports –Employment Verification –Property Management Software USP: We are the nation’s most innovative and experienced provider of screening and risk management services to the multi-family housing market. Client Base: 25,000+ Properties Nationwide (5+ Million Apartment Units)

9 May 2004 RISK mitigation segment  Motor Vehicle Record Services –Driver History –Vehicle Registrations –Financial Responsibility Filings –Driver Activity Monitoring –ZapApp ® Agent Management System USP: We are expert at delivering motor vehicle record data to the insurance and employment screening markets in a very customized flexible way, backed by excellent client service. Client Base: 7,500 Agents, Insurers, and Companies Nationwide

10 May 2004 RISK mitigation segment  Investigative Services –Computer Forensics –Electronic Discovery –Investigations and Litigation Support –Insurance Fraud  Discovery Investigations  Surveillance  Statements and Field Interviews USP: With state-of-the-art technology and renown expertise, our services assist the nation’s law firms, insurers and corporations with the information needed to support litigation and investigations, and detect insurance fraud. Client Base: 500 Corporations, Law Firms, Insurers, TPAs and Self-Insured Employers Nationwide

11 May 2004 CONSUMER direct segment  Consumer Services/US –People Locate –Public Data Search –Home and Family Services –Background and Verify –Real Estate Data USP: As the top provider of consumer location and verification services, our Web- based services lead the industry by providing consumers quality data via an easy-to-use Website. Client Base: 6.0 Million Unique Visitors to Web Portal Monthly; 2,000+ Daily Transactions

12 May 2004 GROWTH strategy

13 May 2004 GROWTH strategy  Companywide 2004 Revenue Goal is to Exceed $250 Million  Focus on Growing Core Enterprise Screening Segment Via Acquisition –2004 Revenue Goal: Exceed $150 Million –2006 Revenue Goal: Exceed $250 Million  Continue to Expand in the Risk Mitigation Segment Via Acquisition  International Expansion

14 May 2004 GROWTH strategy Acquisitions to Date Enterprise Screening 6 Employment Screening 4 Occupational Health 3 Resident Screening 1 Tax Credits & Consulting Risk Mitigation 2 Motor Vehicle Record 2 Investigative 1 Supply Chain Security

15 May 2004 CONSOLIDATION strategy

16 May 2004 CONSOLIDATION strategy  First Priority: Client Retention  Consolidate Acquisitions to Take Advantage of Increased Scale –Back Office Operations –Technology  Integrate Employment Screening and Occupational Health Services on a Single Technology Platform –Keep Customer Facing Positions

17 May 2004  Take Advantage of “Low Hanging Fruit” –Executive Management, Corporate Services, Vendor Pricing/Contracts, Telecom, Insurance, Etc.  Full Consolidation of Physical Operations and Systems –Small Subsidiaries3 - 6 Months –Larger Subsidiaries12 - 18 Months CONSOLIDATION strategy

18 May 2004 CONSOLIDATION strategy  Cross Sell/Up Sell Combined Client Base  Branding Initiatives –Transition/Eliminate Subsidiary Brands by 2005 –First Advantage Brand Clarity  Facilitate Internal Culture Development  Facilitate Sales and Cross-sell Opportunities  Leverage Marketing Expenditures

19 May 2004 FINANCIAL performance

20 May 2004 ANNUAL operating results Revenues$166,495,000$100,925,000$ 49,167,000 Gross Margin96,756,00055,506,00034,552,000 Net Income (Loss)2,803,0002,702,000(579,000) EPS (Fully Diluted)$0.14N/AN/A 200320022001

21 May 2004 QUARTERLY operating results Revenues$57,433,000$ 31,541,000 Gross Margin31,978,00017,722,000 Net Income 639,000330,000 EPS (Fully Diluted)$0.03N/A 20042003 Quarter Ended March 31,

22 May 2004 SEGMENT operating results Enterprise Screening$ 36,019,000$ 1,900,000 Risk Mitigation17,739,0001,120,000 Consumer Direct4,232,000(17,000) Corporate and Eliminations(557,000)(1,681,000) Total$ 57,433,000$ 1,322,000 RevenueOperating Income Quarter Ended March 31, 2004

23 May 2004 SELECTED financial data Total Assets$ 316,622,000 Stockholders’ Equity250,769,000 Long-term Debt35,843,000 Working Capital6,722,000 Book Value Per Share$ 11.71 March 31, 2004

24 May 2004 SUMMARY  Excellent Market Position  Increasing Demand for Risk Mitigation  Scalable Technology  Cross-sell Opportunities Within and Between Business Lines  Innovative Products  Strong National Sales Force of 100+ Reps  Financial Strength

25 May 20, 2004 ANNUAL SHAREHOLDERS meeting

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