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Genworth Financial to Host 2006 National Long Term Care Symposium in Washington, DC. Sept. 20th, 2006

Sen. Debbie Stabenow, Hon. Newt Gingrich to Join Genworth,
Key Stakeholders for 'Town Hall' Meeting
Examining Issues Affecting Women, Families and Caregivers

RICHMOND, Va., Sept. 18 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) will host a national long term care symposium in Washington, D.C., on September 20, bringing together elected officials, researchers, caregivers, media observers and business leaders to present an in-depth review of one of the most serious issues facing America -- the costs and challenges of long term care.

The symposium will be moderated by Susan Dentzer of PBS' "NewsHour with Jim Lehrer." Speakers and panel participants include:

  • The Honorable Debbie Stabenow (D-MI), United States Senate
  • The Honorable Newt Gingrich, former Speaker of the U.S. House of Representatives and commissioner, National Commission for Quality Long Term Care
  • Douglas Holtz-Eakin, director of the Congressional Budget Office (2003-2005)
  • Glen Bolger, partner, Public Opinion Strategies
  • Mary Beth Franklin, senior editor, Kiplinger's Personal Finance
  • Dr. Mike Magee, director, Pfizer Medical Humanities Initiative
  • Meryl Comer, caregiver, former television journalist

"Long term care has rightfully emerged as a top public policy priority in this country as 77 million baby boomers near retirement," said Buck Stinson, president of Genworth's long term care insurance business. "This year alone, $129 billion will be spent on older individuals receiving paid care. As the cost of care continues to rise -- and Americans live much longer lives -- it's imperative we discuss, pursue and evaluate public-private solutions as an integral part of America's evolving national long term care policy."

Among the issues the symposium will highlight are:

  • Why are women disproportionately impacted by long term care issues?
  • The realities of long term care; who needs it and what does it cost?
  • How will the federal government pay for it? Tax increases or program cuts?
  • How are employers affected and what benefits are they offering employees?
  • What role will long term care play in the 2006 and 2008 elections?

Genworth's benchmark annual "cost of care" study for 2006 found that the average national cost of a private nursing-home room had risen to nearly $71,000 a year. The study is available at genworth.com. A national poll conducted on behalf of Genworth this year by Public Opinion Strategies indicated that 65 percent of Americans had made no long term care plans.

About Genworth Financial

Genworth Financial (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, with operations in 24 countries, including the United States, Australia, Canada, Japan, Mexico, New Zealand, the United Kingdom and 17 other European countries. Genworth is the leading provider of long term care insurance in the United States. For more information, visit http://www.genworth.com.

NOTE: MEDIA RSVP IS MANDATORY FOR THE SYMPOSIUM

Wednesday, September 20th, 8:30AM-12:30PM
Breakfast will be served
Mayflower Hotel, Washington D.C.

SOURCE Genworth Financial, Inc.

CONTACT: Neal McGarity of Genworth Financial, Inc., +1-203-708-3460,
Neal.McGarity@genworth.com