well as improving market penetration with existing offices and agents.  $^{ }$CREDIT RATING $^{ }$RESULTS OF OPERATIONS OPERATING REVENUES ITIC has been recognized by two independent Fannie Mae approved actuarial firms, Demotech,  Inc. and Lace Financial Corporation, with rating categories of "A Double Prime - unsurpassed  financial stability" and "A - strong overall financial condition."  NE-ITIC' s financial stability has been recognized by two Fannie Mae approved actuarial firms,  Demotech, Inc. and Lace Financial Corporation, with rating categories of "A Prime -  unsurpassed financial stability" and "A - strong overall financial condition."  A summary by segment of the Company’ s operating revenues is as follows:  2000 Title Insurance $ 37,925,106 Exchange Services 1,046,176 All Other 626,130 $ 39,597,414 1999 95.6% $ 43,942 374 2.6% 723,054 1.6% 106 265 100.0% $ 44,772,495 1995 96.2% $ 45,553 649 1.6% 636 639 2% 52,216 100.0% $ 46,242 704 98.5% 1.4% 1% 100.0% $^{ }$Title Insurance:  Net premiums written decreased 14% and 3% in 2000 and 1999, respectively  and increased 52% in 1998. The decline in sales in 2000 resulted primarily from increases in  mortgage interest rates in the first half of the year coupled with a dramatic decline in refinance  activity. In 2000, the number of policies and commitments issued declined to 196,836, a decrease  of 23% compared with 256,272 in 1999. In 1999, policies and commitments issued declined by  24,979 policies, a decrease of 9% compared with 281,251 in 1998. The number of policies and  commitments issued increased by 97,014 in 1998, an increase of 53% compared with 184,237 in  1997. Shown below is a schedule of net premiums written for 2000, 1999 and 1998 in all states  where our two insurance subsidiaries, Investors Title Insurance Company and Northeast  Investors Title Insurance Company, underwrite title insurance:  © Investors Title Company  11