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Secondary Public Offering of Genworth Financial Commences Today
Genworth Financial to Repurchase $500 Million Of Common Stock From GE

RICHMOND, Va., March 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- A secondary public offering of shares of the Class A Common Stock of Genworth Financial, Inc. (NYSE: GNW) will commence today. GE is offering up to 80.5 million Genworth shares, including shares subject to the underwriters' over-allotment option. Concurrently with the offering, Genworth will repurchase directly from GE $500 million of Genworth's Class B Common Stock at the net price GE receives in the secondary offering. The repurchase will be completed at the same time as, and is contingent upon, the completion of the secondary public offering.

Upon completion of the offering GE (NYSE: GE) will own approximately 52 percent of Genworth's common stock if the underwriters' over-allotment option is exercised in full. GE expects, subject to market conditions, to reduce its ownership over the next two years as Genworth transitions to full independence.

Genworth today filed an amended registration statement with the U.S. Securities and Exchange Commission (SEC) relating to the secondary public offering.

The global coordinator and bookrunner is Morgan Stanley. JPMorgan and Merrill Lynch & Co. are joint lead managers and bookrunners for the secondary offering. Copies of the preliminary prospectus may be obtained from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, New York 10036.

A registration statement relating to Genworth's Class A common stock has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

About Genworth Financial

Genworth (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 22 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit http://www.genworth.com.

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, Inc.

Investors: Jean Peters, +1-804-662-2693, jean.peters@genworth.com, or
Media: Mike
Kachel, +1-804-662-2534, mike.kachel@genworth.com, both of Genworth
Financial, Inc.