Genworth      Print Page    Close Window

Press Release



Genworth Financial Repurchases $294 Million of Stock

RICHMOND, Va., Nov 08, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Genworth Financial, Inc. (NYSE: GNW), today announced that it has agreed to repurchase more than 9 million shares of common stock at a price of $32 per share in a privately negotiated transaction.

"We are pleased to complete our existing repurchase program, demonstrating our focus on disciplined capital management," said Michael D. Fraizer, chairman and chief executive officer. "With this transaction we will have repurchased $1 billion of common stock in 2006 and we will evaluate additional repurchase authority as we go forward."

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. For more information, visit http://www.genworth.com.

SOURCE Genworth Financial, Inc.

Investors: Alicia Charity, +1-804-662-2248,
Alicia.Charity@genworth.com, or
Media: Phil Moeller, +1-804-662-2534,
Philip.Moeller@genworth.com,
both of Genworth Financial, Inc.

http://www.genworth.com