PMI Shareholders Elect Directors; CEO L. Stephen Smith Re-Elected Chairman

WALNUT CREEK, Calif., May 20, 2011 /PRNewswire/ --The PMI Group, Inc. (NYSE: PMI) (the Company) announced today that at the Company's Annual Meeting of Shareholders held May 19, 2011, all ten director nominees were re-elected to the Board of Directors. Following the meeting, the Board of Directors re-elected PMI Chief Executive Officer L. Stephen Smith as Chairman of the Board. The members of the PMI Board of Directors are:

• Timothy R. Eller;
• Carmine Guerro;
• Louis G. Lower II;
• Raymond L. Ocampo Jr.;
• Charles R. Rinehart;
• John D. Roach;
• L. Stephen Smith;
• Jose H. Villarreal;
• Mary Lee Widener; and
• Ronald H. Zech.

Shareholders also approved the non-binding resolution to approve the 2010 compensation of our named executive officers, expressed a preference for an annual advisory vote on executive compensation, ratified the appointment of Ernst & Young LLP as independent auditors for the Company for the year ending December 31, 2011, approved the Company's Amended and Restated Tax Benefits Preservation Plan, and approved the amendment to the PMI Certificate of Incorporation increasing authorized common shares to 500 million shares.    

About The PMI Group, Inc.

The PMI Group, Inc. (NYSE: PMI), headquartered in Walnut Creek, CA provides credit enhancement solutions that expand homeownership while supporting our customers and the communities they serve. Through its wholly owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products. For more information: www.pmi-us.com.

SOURCE The PMI Group, Inc.