Item 7.01 Regulation FD Disclosure
As previously announced, PICO Holdings, Inc.'s wholly-owned subsidiary, UCP, LLC ("UCP"), acquired a defaulted note at a significant discount to the original principal amount on August 7, 2009. UCP foreclosed on the property and acquired title to the property, free and clear, on September 8, 2009.
UCP's press release is attached as Exhibit 99.1 and is hereby incorporated by reference in its entirety. The information in this Current Report on Form 8-K and the exhibit attached hereto is being furnished (not filed) under Item 7.01 of Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits

Exhibit Number Description 99.1 Press release of UCP, LLC dated September 8, 2009 announcing acquisition of East Garrison master-planned community.

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