PMI Group Announces Hiring of CFO, Donald Lofe, Jr.

December 18, 2002

The PMI Group Inc. named Donald P. Lofe, Jr. executive vice president and CFO, effective Jan. 6, 2003. Lofe will manage the financial, accounting and reporting functions for PMI. His roles will include overseeing GAAP and statutory accounting and reporting, investments and asset management, treasury, planning and budgeting, investor relations, reinsurance, taxes, as well as PMI’s liaison to other external constituencies including rating agencies and external auditors.

“Don’s hiring creates a tremendous opportunity for PMI to utilize his extraordinary talents, highly successful track record and strong leadership skills. We’re pleased to attract an individual of Don’s caliber to PMI,” said PMI Chairman and CEO Roger Haughton.

Lofe joins PMI from CNA Financial Corporation where he was senior vice pesident, Corporate Finance. Lofe’s responsibilities with CNA included treasury services, capital planning and risk assessment, rating agencies, investor relations, regulatory analysis and compliance, as well as investment operations and analysis. Prior to CNA, Lofe was a Partner with PricewaterhouseCoopers LLP where he specialized in insurance for a wide range of property and casualty, life, and other financial service companies.

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