PMI Mortgage Insurance Co.

PMI Mortgage Insurance Co. (PMI US), a subsidiary of The PMI Group, Inc., provides residential mortgage insurance to mortgage lenders, capital market participants, and investors throughout the United States. PMI US is incorporated in Arizona, headquartered in Walnut Creek, CA, and licensed in all 50 states, the District of Columbia, Puerto Rico, Guam, and the Virgin Islands. By mitigating default risk, residential mortgage insurance expands home ownership opportunities and assists financial institutions in reducing the capital they are required to hold against low down payment mortgages. PMI US is rated AA by Standard and Poor's, Aa2 by Moody's, and AA+ by Fitch. For more information: http://www.pmigroup.com/.

Cautionary Statement

Statements in this news release that are not historical facts or that relate to future plans, events or performance are "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause PMI's actual results to differ materially from those expressed or implied in this release. Risks and uncertainties related to PMI's business are discussed in PMI's SEC filings, including its Form 10-K for the year ended December 31, 2005 and Form 10-Q for the quarter ended September 30, 2006. We undertake no obligation to update forward-looking statements. David Katkov