FACO First Acceptance Corporation (QX)

First Acceptance Corporation Announces Opening of New Memphis Retail Store

NASHVILLE, TN, May 18, 2015 - First Acceptance Corporation (NYSE: FAC), d/b/a Acceptance Insurance, a leader in the non-standard automobile insurance industry, announced today that it has opened its fourth retail store location in Memphis, Tennessee. This brings the number of Company-operated retail locations to 356 and marks the fifth new store that the Company has opened since November 2014. Acceptance previously had not opened any new retail locations since 2008.

Joe Borbely, the Company's President and CEO commented "While the Acceptance team is currently focused on the upcoming integration of the Titan acquisition, we will continue to add retail locations in our current operating states where we believe opportunities exist to better serve our target customers."

Pending Acquisition

On April 27, the Company announced that it has entered into an agreement to acquire certain assets of Titan Insurance Services, Inc. and Titan Auto Insurance of New Mexico, Inc. These agencies sell private passenger non-standard automobile insurance from 83 retail stores, principally in California, but also in Texas, Arizona, Florida, Nevada and New Mexico.

About First Acceptance Corporation

We are principally a retailer, servicer and underwriter of non-standard personal automobile insurance based in Nashville, Tennessee. We currently write non-standard personal automobile insurance in 13 states and are licensed as an insurer in 12 additional states. Non-standard personal automobile insurance is made available to individuals because of their inability or unwillingness to obtain standard insurance coverage due to various factors, including payment history, payment preference, failure in the past to maintain continuous insurance coverage or driving record and/or vehicle type. In most instances, these individuals are seeking to obtain the minimum amount of automobile insurance required by law.

At May 18, 2015, we leased and operated 356 retail locations and a call center staffed with employee-agents. Our employee-agents primarily sell non-standard personal automobile insurance products underwritten by us, as well as certain commissionable ancillary products. In most states, our employee-agents also sell a complementary insurance product providing personal property and liability coverage for renters underwritten by us. In addition, select retail locations in highly competitive markets in Illinois and Texas offer non-standard personal automobile insurance serviced and underwritten by other third-party insurance carriers. In addition to our retail locations, we are able to complete the entire sales process over the phone via our call center or through the internet via our consumer-based website or mobile platform. On a limited basis, we also sell our products through selected retail locations operated by independent agents. Additional information about First Acceptance Corporation can be found online at www.acceptanceinsurance.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our business strategy, our financial condition, our pending acquisition of certain assets of Titan Insurance Services, Inc. and Titan Auto Insurance of New Mexico, Inc. and our other plans, objectives,  strategies, expectations and intentions and other statements that are not statements of historical fact, and may be identified by words such as  "believe," "continue," "intends," "may," "might," "probable," "projects," or "seek" or the negative of these words and phrases or similar words or phrases.  Factors that may affect these forward-looking statements and our business and financial results are described in the risk factors included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2014.  All forward-looking statements are qualified in their entirety by this cautionary statement.

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