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Genworth Financial Completes Sale Of Group Benefits Unit
RICHMOND, Va., May 31, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Genworth Financial, Inc. (NYSE: GNW) said today that it had completed the previously announced sale of its employee benefits group (EBG) business to Sun Life Financial, Inc. Proceeds from the transaction will be used to fund core growth and other capital priorities, including acquisitions, share repurchase, dividends or debt repayment.

"We are pleased to complete this transaction," said Michael D. Fraizer, chairman and chief executive of Genworth. "It allows us to sharpen our focus and allocate capital to opportunities which create future growth and improve returns for our shareholders."

About Genworth Financial

Genworth is a leading financial security company meeting the retirement, longevity, lifestyle protection, investment and mortgage insurance needs of more than 15 million customers, with a presence in 25 countries. For more information, visit http://genworth.com.

Caution Concerning Forward-Looking Statements

This press release 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 release 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, Inc.

Investors, Cass English,
+1-804-662-2614,
Cass.English@genworth.com, or
Media, Terry Souers,
+1-919-846-4459,
Terry.Souers@genworth.com,
both of Genworth Financial, Inc.

http://www.genworth.com/