If the over-allotment option is fully exercised, GE will own approximately 18 percent of Genworth's common stock. If the underwriter's over-allotment option is not exercised, GE will own approximately 19 percent of Genworth's common stock. Genworth will not receive any proceeds from the transaction.
GE's sale of shares was concurrent with the addition of Genworth Financial to the Standard & Poor's 500 Index. GE has announced its intent to sell its remaining holdings of Genworth by the end of 2006.
The sole bookrunner and sole manager for the offering was Morgan Stanley & Co. Incorporated. Interested parties may obtain a written prospectus relating to the offering from Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014 or by email at
This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.
About Genworth Financial
Caution Concerning Forward-Looking Statements
This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects," "anticipates," "intends," plans," "believes," "seeks," "estimates," or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.
SOURCE: Genworth Financial
CONTACT: Investors - Alicia Charity, +1-804-662-2248,
Web site: http://www.genworth.com/