PMI Mortgage Insurance Company Limited Opens Tokyo Representative Office; Names J. Steven Beagles as Managing Director

WALNUT CREEK, Calif., Aug. 26 /PRNewswire-FirstCall/ -- The PMI Group, Inc. today announced that PMI Mortgage Insurance Company Limited, a subsidiary, has opened a representative office in Tokyo, Japan, and appointed J. Steven Beagles as Managing Director.

"Opening a representative office in Tokyo is our first step toward entering the Japanese market," said Brad Shuster, CEO of PMI Capital Corporation and President of International and Strategic Investments for PMI. "Japan is the second largest market economy in the world after the U.S., and growth and evolution in the economy and mortgage industry have created significant opportunity. Steve's experience in international business development generally and in the Japanese market specifically, combined with his creative approach and industry expertise, make him the ideal choice to lead this exploratory effort."

Beagles commented, "The current homeownership rate in Japan is about 60 percent, and there are a lot of people who would like to own their own homes but have not been able to. We believe that our products and services can add significant value to the Japanese market and help push this rate upwards, and we're excited about the opportunity we see to contribute."

Beagles joined PMI in 2004 as a Deal Manager and has held several progressively more responsible positions, most recently as Director, International Business Development, where he was responsible for developing business expansion capabilities in new markets. Prior to joining PMI he ran a consulting firm, sourcing and managing strategic consulting and business development projects for United States-based firms interested in accessing the Japanese marketplace. Beagles has significant international business experience, having lived and worked in Japan and led in-country projects in Hong Kong, Singapore, London, and Australia. He completed his BA degree at Temple University Japan in Tokyo and holds a Masters of Science in Finance (MSF) from Seattle University.

The PMI Group, Inc.

The PMI Group, Inc. , headquartered in Walnut Creek, CA, provides innovative credit, capital, and risk transfer solutions that expand homeownership and fund essential services for our customers and the communities they serve around the world. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products, financial guaranty insurance, and financial guaranty reinsurance. PMI has operations in Asia, Australia and New Zealand, Canada, Europe, and the United States. For more information: http://www.pmigroup.com/.

Cautionary Statement: Statements in this release that are not historical facts or that relate to future plans, events or performance are "forward- looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Many factors could cause actual results to differ materially from those expressed or implied by forward-looking statements, and there can be no guarantee that PMI will do business in Japan or that certain results will be achieved. Risks and uncertainties, including changes in the economic and market conditions, are discussed in PMI's SEC filings, including its Form 10-Q for the period ended June 30, 2007 and its Form 10-K for the year ended December 31, 2006. PMI undertakes no obligation to update forward- looking statements.