David W. Berson Joins PMI as Chief Economist and Strategist

WALNUT CREEK, Calif., Sept. 28 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: PMI) today announced the appointment of David W. Berson as Chief Economist and Strategist. Berson's responsibilities include domestic and global market research and planning, support of government relations and public policy and strategic environmental planning. He will also act as a PMI spokesperson on topics related to global economic housing, and mortgage market conditions, prospects, and policy.

"PMI is committed to being a global leader in risk management and hiring an exceptionally talented officer like David Berson is an important part of fulfilling that commitment," said Steve Smith, PMI's Chairman and Chief Executive Officer. "We are very excited to have David join PMI. His deep knowledge of the housing and mortgage finance markets will make him a major asset to PMI."

Berson comes to PMI from Fannie Mae, where he was Vice President and Chief Economist since 1989. At Fannie Mae Berson was responsible for advising the company on national and regional economic, housing, and mortgage policy and conditions, including forecasts and analyses of the economy, interest rates, and housing and mortgage finance markets. Berson was also a senior member of the corporate strategy group, where he provided alternative views and risk analyses based on economic and market changes.

"PMI is one of the world's foremost providers of mortgage insurance and a well-respected leader in the mortgage finance industry," Berson said. "I look forward to contributing to PMI's role in expanding homeownership opportunities and strengthening communities around the world."

Prior to Fannie Mae, Berson held senior management positions at Wharton Econometric Forecasting Associates overseeing domestic services, financial analysis, and modeling. As well, he has held several teaching positions at the University of Michigan, Claremont McKenna College, and Claremont Graduate School. Berson has published more than ten papers on the U.S. housing and mortgage markets.

Berson received a Ph.D. in economics and a M.P.P. in public policy from the University of Michigan, and a B.A. in history and economics from Williams College. He has a long history of civic activity and currently serves on the advisory board for the Middle Patuxent Environmental Area and the board of directors for Crossway Community, a transitional housing project for homeless families.

The PMI Group, Inc.

The PMI Group, Inc. (NYSE: PMI) , 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. PMI is rated A by Standard and Poor's, A1 by Moody's, and A+ by Fitch. 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. Risks and uncertainties 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.