Radian Announces Underwriters’ Exercise of Options to Purchase Additional Securities for Concurrent Offerings of Common Stock

  Radian Announces Underwriters’ Exercise of Options to Purchase Additional
  Securities for Concurrent Offerings of Common Stock and Convertible Senior
  Notes

Business Wire

PHILADELPHIA -- February 27, 2013

Radian Group Inc. (NYSE: RDN) today announced that the underwriters of its
previously announced concurrent public offerings of common stock and
convertible senior notes due 2019 have exercised in full their options to
purchase an additional 5.1million shares of common stock and an additional
$50million principal amount of notes from the Company at the public offering
price, less underwriting discounts and commissions. As a result, the Company
expects to issue a total of 39.1 million shares and $400million principal
amount of notes and to receive aggregate net proceeds, after underwriting
discounts and commissions and estimated offering expenses, of approximately
$299.5 million from the common stock offering and $389.8 million from the
convertible senior notes offering. The offerings are expected to close on
March 4, 2013, subject to customary closing conditions.

Morgan Stanley & Co. LLC and Goldman, Sachs & Co. have acted as joint
book-running managers for the offerings, Dowling & Partners Securities, LLC,
Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc. and Wells Fargo
Securities, LLC have acted as co-managers for the common stock offering and
Keefe, Bruyette & Woods, Inc. has acted as co-manager for the convertible
notes offering.

The shares and notes will be issued pursuant to an effective shelf
registration statement that was previously filed with the Securities and
Exchange Commission (the “SEC”) on Form S-3 and declared effective on August
20, 2012. The offerings are being made by means of a prospectus and related
prospectus supplements. A copy of the prospectus supplement and the
accompanying base prospectus for each of the offerings has been filed with the
SEC and is available for free on the SEC’s website: http://www.sec.gov.
Alternatively, copies may be obtained from Morgan Stanley & Co. LLC, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014,
by calling (866) 718-1649 or by emailing prospectus@morganstanley.com, and
from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New
York, NY 10282, by calling (866) 471-2526 or by emailing
prospectus-ny@ny.email.gs.com.

This press release is for informational purposes only and does not constitute
an offer to sell or the solicitation of an offer to buy any security of the
Company, nor will there be any sale of any such security in any jurisdiction
in which such offer, sale or solicitation would be unlawful. Each of the
offerings may be made only by means of a prospectus supplement and
accompanying base prospectus.

About Radian

Radian Group Inc., headquartered in Philadelphia, provides private mortgage
insurance and related risk mitigation products and services to mortgage
lenders nationwide through its principal operating subsidiary, Radian Guaranty
Inc. These services help promote and preserve homeownership opportunities for
homebuyers, while protecting lenders from default-related losses on
residential first mortgages and facilitating the sale of low-down payment
mortgages in the secondary market.

Contact:

Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz
 
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