Exhibit 99.1

INVESTORS TITLE COMPANY ANNOUNCES THIRD QUARTER 2006 RESULTS

	Contact: Elizabeth B. Lewter
	October 31, 2006
	Telephone: (919) 968-2200
	NASDAQ Symbol: ITIC

FOR IMMEDIATE RELEASE:

Chapel Hill, NC - J. Allen Fine, Chairman of Investors Title Company, announced that for the third quarter ended September 30, 2006, the Company reported net income of $3,672,069, a decrease of 15.2% compared with $4,329,529 for the prior year period. Net income per diluted share equaled $1.44, a decrease of 13.8% compared with $1.67 per diluted share in the same period last year. Net premiums written decreased 13.1% to $18,242,676 and revenues decreased 9.6% to $21,722,334 compared with the prior year period.

For the nine-month period ended September 30, 2006, the Company reported net income of $10,862,547, an increase of 11.2%, compared with $9,772,021 for the same nine-month period in 2005. Diluted earnings per share were $4.23, an increase of 13.1% compared with $3.74 for the same nine-month period in 2005. Net premiums written decreased 7.1% to $53,997,893 and revenues decreased 1.8% to $65,027,803 compared with the prior year.

Premiums written declined during the latest reporting period as mortgage originations and real estate activity continued to slow from the record levels of the prior year. Slowing real estate sales also led to a decline in tax-deferred exchange volume. Revenue in the exchange segment increased due to higher rates of interest earned on funds. Also slightly offsetting the decline in premium revenue was an increase in investment income.

Chairman Fine added “As generally expected, transaction volume and mortgage loan origination has continued to slow as a result of higher interest rates, inventory imbalances and other market factors. We continue to monitor conditions in the real estate market in order to best align expenditures with changing activity levels, while looking for opportunities to extend our distribution base and further improve operating efficiencies.”

Investors Title Company is engaged through its subsidiaries in the business of issuing and underwriting title insurance policies. The Company also provides services in connection with tax-deferred exchanges of like-kind property as well as investment management services to individuals, trusts, foundations and businesses.

Certain statements contained herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include any predictions regarding activity in the U.S. real estate market. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from anticipated and historical results. For more details on risk, uncertainties and other factors that could affect expectations, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2005, as filed with the Securities and Exchange Commission.

# # # #

Investors Title Company and Subsidiaries
Consolidated Statements of Income
*September 30, 2006 and 2005*
*(Unaudited)*

	For The Three Months Ended September 30					For The Nine Months Ended September 30
	2006			2005		2006		2005
Revenues:
Underwriting income:
Premiums written	$	18,347,342		$	21,035,519	$	54,315,786	$	58,333,687
Less-premiums for reinsurance ceded		104,666			49,419		317,893		234,234
Net premiums written		18,242,676			20,986,100		53,997,893		58,099,453
Investment income-interest and dividends		1,036,155			812,659		3,064,905		2,373,983
Net realized gain (loss) on sales of investments		(55,930	)		69,597		488,527		89,504
Exchange services revenue		1,604,992			1,222,602		4,541,081		3,272,034
Other		894,441			942,365		2,935,397		2,381,990
Total		21,722,334			24,033,323		65,027,803		66,216,964

Operating Expenses:
Commissions to agents		6,796,146			8,209,799		20,368,864		23,050,329
Provision for claims		1,992,901			2,283,372		5,878,592		6,354,485
Salaries, employee benefits and payroll taxes		4,901,427			4,540,061		14,824,296		14,320,940
Office occupancy and operations		1,247,299			1,133,563		3,978,654		3,722,639
Business development		568,982			591,506		1,622,145		1,483,367
Taxes, other than payroll and income		196,707			67,234		493,599		387,218
Premium and retaliatory taxes		396,851			411,084		1,067,461		1,204,399
Professional fees		554,487			370,297		1,879,643		1,461,478
Other		92,435			186,878		531,002		298,088
Total		16,747,235			17,793,794		50,644,256		52,282,943

Income Before Income Taxes		4,975,099			6,239,529		14,383,547		13,934,021

Provision For Income Taxes		1,303,030			1,910,000		3,521,000		4,162,000

Net Income	$	3,672,069		$	4,329,529	$	10,862,547	$	9,772,021

Basic Earnings Per Common Share	$	1.46		$	1.69	$	4.29	$	3.81

Weighted Average Shares Outstanding - Basic		2,517,691			2,559,154		2,534,883		2,562,247

Diluted Earnings Per Common Share	$	1.44		$	1.67	$	4.23	$	3.74

Weighted Average Shares Outstanding - Diluted		2,550,607			2,600,289		2,569,585		2,611,073

Investors Title Company and Subsidiaries
Consolidated Balance Sheets
*As of September 30, 2006 and December 31, 2005*
*(Unaudited)*


	September 30, 2006		December 31, 2005
Assets
Cash and cash equivalents	$	3,957,098	$	14,608,481

Investments in securities:
Fixed maturities:
Held-to-maturity, at amortized cost		1,200,276		1,648,708
Available-for-sale, at fair value		96,677,536		75,472,342
Equity securities, available-for-sale at fair value		12,363,984		9,437,678
Short-term investments		3,000,463		7,257,734
Other investments		1,629,631		1,336,111
Total investments		114,871,890		95,152,573

Premiums and fees receivable, net		7,326,398		7,818,558
Accrued interest and dividends		1,081,266		1,010,198
Prepaid expenses and other assets		6,796,132		1,592,326
Property acquired in settlement of claims		417,800		359,980
Property, net		6,119,700		5,466,765
Deferred income taxes, net		2,011,981		2,462,647

Total Assets	$	142,582,265	$	128,471,528

Liabilities and Stockholders' Equity
Liabilities:
Reserves for claims	$	36,477,000	$	34,857,000
Accounts payable and accrued liabilities		12,758,421		7,928,384
Commissions and reinsurance payables		353,362		442,098
Current income taxes payable		126,255		946,790
Total liabilities		49,715,038		44,174,272

Stockholders' Equity:
Common stock - no par value (shares authorized 10,000,000;
2,506,784 and 2,549,434 shares issued and outstanding 2006 and 2005,
respectively, excluding 291,676 and 297,783 shares 2006 and 2005,
respectively, of common stock held by the Company's subsidiary)		1		1
Retained earnings		90,002,406		81,477,022
Accumulated other comprehensive income (net unrealized gain on investments)		2,864,820		2,820,233
Total stockholders' equity		92,867,227		84,297,256

Total Liabilities and Stockholders' Equity	$	142,582,265	$	128,471,528

Investors Title Company and Subsidiaries
Net Premiums Written By State
*September 30, 2006 and 2005*
*(Unaudited)*


	For the Three Months Ended						For the Nine Months Ended
	September 30						September 30
State	2006			2005			2006			2005
Alabama	$	185,318		$	304,229		$	759,499		$	1,034,232
Florida		359,531			410,075			965,822			1,182,015
Illinois		291,810			244,111			819,718			735,441
Kentucky		618,829			616,986			1,775,866			1,601,826
Maryland		344,598			471,464			1,126,272			1,331,992
Michigan		825,711			1,229,606			2,584,541			3,614,984
Minnesota		200,469			227,850			842,538			756,642
Mississippi		225,319			249,728			526,996			811,321
Nebraska		172,005			212,204			503,451			597,899
New York		602,667			998,587			1,815,458			2,358,964
North Carolina		9,185,274			10,111,914			27,400,208			27,477,382
Pennsylvania		373,498			460,000			1,100,005			1,287,648
South Carolina		2,045,816			1,748,951			4,984,670			5,136,939
Tennessee		686,497			775,812			1,967,589			2,066,396
Virginia		1,515,282			2,078,630			5,087,324			6,032,643
West Virginia		577,884			728,273			1,673,725			1,740,338
Other States		135,101			167,099			373,945			552,979
Direct Premiums		18,345,609			21,035,519			54,307,627			58,319,641
Reinsurance Assumed		1,733			-			8,159			14,046
Reinsurance Ceded		(104,666	)		(49,419	)		(317,893	)		(234,234	)
Net Premiums Written	$	18,242,676		$	20,986,100		$	53,997,893		$	58,099,453

Investors Title Company and Subsidiaries
Net Premiums Written By Branch and Agency
*September 30, 2006 and 2005*
*(Unaudited)*

	For The Three Months Ended								For The Nine Months Ended
	September 30								September 30
	2006		%		2005		%		2006		%		2005		%
Branch	$	8,602,081		47	$	9,636,878		46	$	25,333,046		47	$	26,017,989		45

Agency	$	9,640,595		53	$	11,349,222		54	$	28,664,847		53	$	32,081,464		55

Total	$	18,242,676		100	$	20,986,100		100	$	53,997,893		100	$	58,099,453		100