Jose H. Villarreal To Stand for Election to Board of Directors of The

    Business Editors

    WALNUT CREEK, Calif.--(BUSINESS WIRE)--March 17, 2005--The PMI Group, Inc. (NYSE:PMI), announced today that Jose H. Villarreal has joined the slate of nominees the Board will recommend be elected by shareholders at the company's annual meeting on May 19, 2005.
    A resident of San Antonio, Texas, Mr. Villarreal is a partner in the law firm of Akin, Gump, Strauss, Hauer & Feld. He currently sits on the board of directors of Wal-Mart and from 1993 to 1999, served as a presidential appointee to the board of directors of Fannie Mae. His extensive experience includes stints as national treasurer of the Gore-Lieberman 2000 presidential campaign, deputy campaign manager for the Clinton 1992 presidential campaign, and a stint in the Texas Attorney General's office as assistant attorney general specializing in public finance transactions. He also served in the Consumer Protection Division of the Texas Attorney General's office, where he won a special award for outstanding work from the Attorney General. He began his career as a civil rights attorney in East Texas, focusing in the fair-housing, voting rights and municipal services discrimination areas.
    "Jose's broad political and legal background, as well as his dedication to important civic causes, makes him an excellent fit for PMI. We are delighted that he has agreed to stand for election to our board," said Chairman and Chief Executive Officer Roger Haughton.
    Mr. Villarreal is nationally recognized in the civic, not-for-profit, and civil rights worlds. He has served for close to a decade on the board of the U.S. Congressional Hispanic Council Institute, and is currently serving on the board of the Close-up Foundation, the nation's leading civic education organization. He is a charter founder of the New American Alliance, whose aim is to empower Hispanic Americans through education, civic participation, economics, and philanthropy and is the past chairman of the National Council of La Raza, the nation's largest Hispanic constituency based non-profit organization.
    Mr. Villarreal holds a J.D. from the Indiana University School of Law and a B.A. in Political Science from Purdue University.
    The PMI Group, Inc., headquartered in Walnut Creek, CA, is an international provider of credit enhancement products that promote homeownership and facilitate mortgage transactions in the capital markets. Through its wholly owned subsidiaries and unconsolidated strategic investments, the company offers residential mortgage insurance and credit enhancement products domestically and internationally, financial guaranty insurance and financial guaranty reinsurance.

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CONTACT: The PMI Group, Inc. Beth Haiken, 925-658-6192 (Media) Bill Horning, 925-658-6193 (Investor)

KEYWORD: CALIFORNIA INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION INSURANCE BANKING SOURCE: The PMI Group, Inc.

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