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Genworth Financial Files Shelf Registration Statement

RICHMOND, Va., Aug. 12 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) today filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC) registering for possible future sales any or all of the 243.2 million shares of Genworth common stock currently held by an affiliate of General Electric Company (NYSE: GE).

The registration statement was filed in connection with GE's stated intent that, subject to market conditions, it expects to reduce its ownership in Genworth in an orderly manner over the next two years as Genworth transitions to full independence.

Once declared effective by the SEC, the shelf registration statement will permit GE to offer and sell all or part of its current 52 percent equity interest in Genworth over time through a series of transactions. However, the filing of the shelf registration statement does not obligate GE to sell any shares. At such time that any securities are offered for sale, a prospectus supplement will be provided containing specific information about the terms of any such offering. Genworth will not receive any proceeds from any sale of shares by GE.

The registration statement relating to these securities 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 23 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.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company's future business and financial performance. Forward- looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors.

SOURCE Genworth Financial, Inc.

CONTACT: Investors: Alicia Charity, +1-804-662-2248, alicia.charity@genworth.com; or Media: Tom Topinka, +1-804-662-2444, thomas.topinka@genworth.com, both of Genworth Financial, Inc.