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Nancy J. Karch Elected to Genworth Financial Board of Directors


RICHMOND, Va., Oct 28, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Genworth Financial, Inc. (NYSE: GNW) announced today that Nancy J. Karch has been elected to the Genworth Financial Board of Directors. She fills one of two newly created independent director positions.

Karch is director emeritus and retired senior partner of international consulting firm McKinsey & Company. During her 26-year career with McKinsey, she advised firms in retailing, mass merchandising, apparel manufacturing, and the food and hospitality industries on issues of marketing, strategy, and organization. At McKinsey, she held various leadership positions, including managing partner of the retail and consumer industry sectors and managing partner of McKinsey Southeast United States.

Karch currently serves on the boards of the Corporate Executive Board Company and Liz Claiborne, Inc. She has also served on the boards of The Gillette Company and Toys "R" Us, Inc.

"We are delighted to be able to add a director of Nancy Karch's extensive experience and talent to Genworth's board as we continue to build strong corporate governance and move toward a majority independent board," said Michael D. Fraizer, chairman and chief executive officer. "We especially look forward to tapping her expertise in consumer marketing as we refine strategies to market the increasing array of products Genworth offers across protection, retirement income and mortgage insurance, as well as future opportunities that may evolve."

Genworth's board composition expanded by two independent positions as a result of the reduction in holdings by its former parent, the General Electric Company, from 52 percent to 27 percent subsequent to a secondary offering of shares in September 2005. Genworth expects to fill the second vacancy as soon as practicable.

About Genworth Financial

Genworth Financial, Inc. (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, and has operations in 24 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit

SOURCE Genworth Financial, Inc.

Media: Tom Topinka, +1-804-662-2444,, or Investors: Alicia Charity, +1-804-662-2248,, both of Genworth Financial, Inc.

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