HONG KONG -- The PMI Foundation presented the Hong Kong Red Cross with a donation of US $10,000 for Red Cross's "Campaign for Helping the Vulnerable and Needy to Prevent Atypical Pneumonia" initiative.

Michael Edwards, Chief Executive and Director of PMI Mortgage Insurance Co.'s Hong Kong Operations presented the contribution to KM Chan, Secretary General of HK Red Cross during a presentation ceremony on May 29, 2003.

"PMI's heart goes out to all those who have been affected by SARS. Our company has a very strong social conscience and our contribution to the Red Cross is the right thing to do," said Edwards.

The PMI Foundation's contribution represents the commitment to the hospital staff supporting the fight against the disease and to help foster support for needy sectors of the community. Donations to the Red Cross Program will be contributed to worthy projects in aid of the medical and underprivileged community to weather the storm of the SARS crisis.

"PMI creates affordable housing opportunities for deserving families. We know that once families become homeowners, they become stronger families. And stronger families build stronger communities. SARS has claimed and threatened people and the communities where people live," said Edwards.

The aim of the Hong Kong Red Cross's "SARS Prevention Kit" project is to provide protective suits for ward supporting staff at 16 public hospitals and care-givers at non-profit elderly homes, day care centers and home help teams in their frequent personal contacts with the sick elderly people. The protective suits contain full gown protective clothes, cap, mask, gloves and shoe covers. They will be distributed through more than 300 social service units such as residential homes for the elderly, day care centers for the elderly, enhanced home and community services as well as integrated home and community service teams.

The PMI Foundation's mission 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 partnerships with national and local organizations that create housing opportunities and help revitalize neighborhoods in communities throughout the United States.

PMI Group, Inc.

PMI Group, Inc.

For more than 30 years, PMI has combined its risk management expertise and financial strength to serve the evolving needs of our customers and the world’s financial markets. PMI's insurance products support the mortgage finance system by providing protection to lenders and investors around the globe in the event of borrower default. By protecting mortgage lenders and investors from credit losses, PMI helps to ensure mortgages are available to prospective homebuyers. Through its strategic investments in the financial guaranty industry, PMI supports the infrastructure on which homeownership depends, including transportation, schools, hospitals, and utilities.

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