EXHIBIT 11.1

EFJ, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME (LOSS) PER SHARE
(Unaudited)
(in thousands, except share and per share data)

|                                       |                                                                 | Three Months Ended September 30, |            | Nine Months Ended September 30, |  
|-------------------------------------- | --------------------------------------------------------------- | -------------------------------- | ---------- | ------------------------------- | -
|
|Net income (loss)                      |                                                                 | $                                | 491        |                                 | $
|                                       |                                                                 |                                  |            |                                 |  
|Net income (loss) per shareBasic:     |                                                                 |                                  |            |                                 |  
|Weighted average common sharesBasic   |                                                                 |                                  | 17,577,315 |                                 |  
|                                       |                                                                 |                                  |            |                                 |  
|Net income (loss) per shareBasic      |                                                                 | $                                | 0.03       |                                 | $
|                                       |                                                                 |                                  |            |                                 |  
|Net income (loss) per shareDiluted:   |                                                                 |                                  |            |                                 |  
|Shares used in this computation:       |                                                                 |                                  |            |                                 |  
|                                       | Weighted average common sharesBasic                            |                                  |            | 17,577,315                      |  
|                                       | Dilutive effect of shares under employee stock planssee Note 4 |                                  |            | 260,290                         |  
|                                       |                                                                 |                                  |            |                                 |  
|Weighted average common sharesDiluted |                                                                 |                                  | 17,837,605 |                                 |  
|                                       |                                                                 |                                  |            |                                 |  
|Net income (loss) per shareDiluted    |                                                                 | $                                | 0.03       |                                 | $
|                                       |                                                                 |                                  |            |                                 |  

| | Note: |  | Common stock equivalents were not included for the three and nine months ended September 30, 2001, as their effect would be anti-dilutive.
| | ----- |  | ------------------------------------------------------------------------------------------------------------------------------------------

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