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Genworth Financial's Class A Common Stock Priced at $29.50 in GE's Secondary Public Offering


RICHMOND, Va., Sept. 21 /PRNewswire-FirstCall/ -- Genworth Financial (NYSE: GNW) today announced the pricing of GE's secondary public offering of Genworth's Class A common stock. GE agreed to sell a total of 80 million shares at a price to the public of $29.50 per share. GE also agreed to sell 21 million shares to Citigroup Global Markets Inc., an affiliate of which will issue securities exchangeable for Genworth Class A shares. GE granted over- allotment options to permit the underwriters of the common stock offering to purchase an additional 12 million shares and to permit Citigroup Global Markets Inc. to purchase an additional 3.15 million shares.

If the over-allotment options in both offerings are fully exercised, then GE will own approximately 27 percent of Genworth's common stock. If the underwriters' over-allotment options are not exercised, GE will own approximately 30 percent of Genworth's common stock. Genworth will not receive any proceeds from either transaction.

The global coordinator and bookrunner for the common stock offering was Morgan Stanley, and Bank of America Securities, JP Morgan and Merrill Lynch were joint lead managers and bookrunners. Interested parties may obtain a written prospectus relating to the common stock offering from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, New York 10036. Citigroup Global Markets Inc. was the sole bookrunner of the offering of the exchangeable securities. Interested parties may obtain a written prospectus relating to the exchangeable securities offering from Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, New York 11220.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, with operations in 24 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. The company has more than 6,500 employees worldwide. For more information, visit

Caution Concerning Forward-Looking Statements

This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", plans", "believes", "seeks", "estimates", or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

SOURCE Genworth Financial

CONTACT: Investors: Alicia Charity, +1-804-662-2248,, or Anthony Attard, +1-804-281-6148,, or Media: Neal McGarity, +1-804-662-2534,, all of Genworth

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