First National Financial Says Company Agrees To Be Acquired By Birch Hill Equity Partners And Brookfield

July 27 (Reuters) - First National Financial Corp FN.TO:

• FIRST NATIONAL FINANCIAL CORPORATION AGREES TO BE ACQUIRED BY BIRCH HILL EQUITY PARTNERS AND BROOKFIELD, WITH EXISTING SHAREHOLDERS STEPHEN SMITH AND MORAY TAWSE MAINTAINING MINORITY OWNERSHIP

• FIRST NATIONAL FINANCIAL CORP - PURCHASER TO BUY SHARES FOR $48.00 PER SHARE

• FIRST NATIONAL FINANCIAL CORP - SMITH AND TAWSE TO SELL TWO-THIRDS OF SHAREHOLDINGS

• FIRST NATIONAL FINANCIAL CORP - SMITH AND TAWSE TO RETAIN 19% INTEREST

• FIRST NATIONAL FINANCIAL CORP - PURCHASE PRICE IMPLIES $2.9 BILLION EQUITY VALUE

• FIRST NATIONAL FINANCIAL CORP - JASON ELLIS IS EXPECTED TO REMAIN FIRST NATIONAL'S CHIEF EXECUTIVE OFFICER