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Genworth Financial Confirms GE Intent to Sell Shares

RICHMOND, Va., Nov. 18 /PRNewswire-FirstCall/ -- Genworth Financial (NYSE: GNW) today confirmed its understanding that General Electric Company (GE) intends to reduce its ownership of Genworth shares from 27 percent to just below 20 percent by the end of 2005 and to fully divest its ownership of Genworth by the end of 2006.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy Genworth shares, nor shall there be any sale of these shares in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.

About Genworth Financial

Genworth 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 24 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.

SOURCE Genworth Financial

CONTACT:
Investors:
Alicia Charity, +1-804-662-2248
alicia.charity@genworth.com
Media:
Phil Moeller, +1-804-662-2534
phillip.moeller@genworth.com
both of Genworth Financial