For additional information contact:
Parag Bhansali, Sr. VP, Investor Relations and Strategic Planning
Phone: 904-854-8640
Michelle Kersch, Sr. VP, Marketing and Corporate Communications, Marketing Communications
Phone: 904-854-5043
JACKSONVILLE, Fla. – July 1, 2008 – Lender Processing Services, Inc., a leading provider of integrated technology and services to the mortgage industry, will commemorate its spin-off from Fidelity National Information Services (NYSE:FIS) by ringing the Opening Bell at the New York Stock Exchange on July 2. LPS began trading on a when-issued basis on June 24, 2008, and expects to begin regular-way trading on July 3 (NYSE:LPS).
“This spin-off will enable investors to more easily understand the LPS story, its capabilities, and its strong growth prospects,” said William P. Foley II, chairman of LPS.
LPS, which has been operating as a segment of FIS for the last two years, is the leading provider of outsourced technology and processing services, default solutions and centralized settlement services to the mortgage industry.
“LPS’ technology and services help lending institutions gain efficiency across all major mortgage operations including loan origination and loan servicing,” said Jeff Carbiener, president and chief executive officer of LPS. “Our clients rely on us to provide the solutions they need to achieve a competitive edge, and we have a successful history of delivering those solutions. We are excited about our new status as a stand-alone company, the prospects that lie ahead and look forward to delivering value to our clients, partners and investors.”
About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS’ Mortgage Servicing Package (MSP). In fact, many of the nation’s top servicers rely on MSP, including seven of the top 10 and 16 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.
Forward Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.