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Donald T. Nicolaisen Joins MGIC Investment Board

Former SEC Chief Accountant Will Bring Valuable Insight to MGIC's Board of Directors

MILWAUKEE, Oct. 26 /PRNewswire-FirstCall/ -- MGIC Investment Corporation (NYSE: MTG) today announced that Donald T. Nicolaisen has joined the company's Board of Directors. Mr. Nicolaisen is a former Chief Accountant of the Securities and Exchange Commission (SEC).

"We are extremely pleased that MGIC will have the benefit of Don Nicolaisen's long experience garnered though his distinguished career in public service and private business. We look forward to the valuable insight and perspective that Don will bring to our Board," said Curt Culver, MGIC's chairman and CEO.

Mr. Nicolaisen, 62, served as SEC's Chief Accountant from September 2003 to November 2005, acting as the principal advisor to the Commission on accounting and auditing matters. Prior to joining the SEC, he was a senior partner at PricewaterhouseCoopers. He began his career at the firm's predecessor, Price Waterhouse, in 1967, and held a wide range of management and leadership positions, including serving on the firm's U.S. and global boards and leading Price Waterhouse's national office for accounting and SEC services. Mr. Nicolaisen has been a Certified Public Accountant since 1969. He also serves on the Boards of Directors of Morgan Stanley, Verizon Communications and Zurich Financial Services.

About MGIC

MGIC ( http://www.mgic.com ), the principal subsidiary of MGIC Investment Corporation, is the nation's leading provider of private mortgage insurance coverage with $173.4 billion primary insurance in force covering 1.3 million mortgages as of September 30, 2006. MGIC serves 5,000 lenders with locations across the country and in Puerto Rico, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality.

SOURCE MGIC Investment Corporation

CONTACT:
Investor Contact,
Michael J. Zimmerman,
+1-414-347-6596,
mike_zimmerman@mgic.com ,
or Media Contact, Katie Monfre,
+1-414-347-2650,
katie_monfre@mgic.com ,
of MGIC Investment Corporation
Web site: http://www.mgic.com
(MTG)