PMI Affirms Support for National American Indian Housing Council.

News Editors/Real Estate Writers

WASHINGTON--(BUSINESS WIRE)--April 6, 2004

The PMI Foundation (NYSE:PMI) announced that it will enhance its commitment to provide financial support for the National American Indian Housing Council (NAIHC). As part of its enhanced commitment to NAIHC, The PMI Foundation is supporting NAIHC and its "Housing First for First Americans" initiative with a $60,000 grant over the course of the next four years.

The PMI Foundation's contribution will help promote homeownership through educational seminars and consumer tools; establishing classroom workshops and on-site financial assistance techniques; and strengthening the concerted effort to work more closely with lenders, intermediaries and vendors.

"The home is integral to Native American culture and traditions, as it has been for centuries. PMI's business is facilitating homeownership and our special relationship with NAIHC will continue to create affordable housing opportunities for deserving Native American families. PMI's support of NAIHC is something PMI takes great pride in," said Taia Lockhart, assistant vice-president, Emerging Markets, PMI Mortgage Insurance Co.

Responding to the immediate need for 200,000 new homes in Native American country, NAIHC launched "Housing First for First Americans" during its recent legislative conference. This initiative aims to produce 100,000 homes over ten years. 562 federally recognized tribes will receive assistance through this project.

"The Housing First initiative will require estimated financing in the range of $8 to 10 billion, so this will be good business for banks in search of Community Reinvestment Act credit and community investment opportunities," said Gary L. Gordon, NAIHC Executive Director.

"NAIHC welcomes any opportunity to partner with the private sector or federal agencies because it helps us deliver economic success and housing progress to Indian Country in a more efficient manner," said Gordon.

PMI made this announcement in conjunction with the NAIHC's recent 10th annual legislative conference in Washington, D.C., a forum for Native American housing advocates to assert their priorities for housing funding and legislation.

"PMI's emerging markets business strategy is concentrated on creating affordable housing opportunities in underserved communities, such as on tribal lands. By working with NAIHC, PMI is helping to provide decent housing to this community, so that Native people will eventually enjoy the same opportunity for a decent home as other Americans," said Ms. Lockhart.

PMI has been a pioneer in working with lenders, housing agencies, non-profit groups and tribal governments to make funds available to Native American tribes. The company has worked closely with lenders to develop conventional loan programs that provide very low down payment options to tribal members purchasing properties on and off trust lands.

The purpose of the PMI Foundation, a nonprofit organization established by The PMI Group, Inc, (NYSE:PMI), is to foster the goal of home ownership and provide access to affordable housing for under served areas and populations. The PMI Foundation does this by supporting national local organizations that create housing opportunities and help revitalize neighborhoods in communities throughout the United States and around the world. The PMI Foundation has sponsored or co-sponsored thirty Habitat builds worldwide and contributed to the funding of over sixty builds. The PMI Foundation is located in Walnut Creek, CA.