Harbinger Group Inc. : Harbinger Group Inc.'s Energy Partnership with EXCO Resources Closes Acquisition of Conventional Oil and

  Harbinger Group Inc. : Harbinger Group Inc.'s Energy Partnership with EXCO
 Resources Closes Acquisition of Conventional Oil and Natural Gas Assets from
                            Affiliate of BG Group

     Harbinger Group Inc.'s Energy Partnership with EXCO Resources Closes
 Acquisition of Conventional Oil and Natural Gas Assets from Affiliate of BG
                                    Group

NEW YORK, March  5, 2013 --  Harbinger Group  Inc. (NYSE: HRG)  ("HGI" or  the 
"Company") announced  today that  its energy  partnership (the  "Partnership") 
with EXCO  Resources, Inc.  ("EXCO";  NYSE: XCO)  successfully closed  on  its 
previously announced acquisition  of conventional oil  and natural gas  assets 
from an affiliate of BG Group plc.

Pursuant to the transaction, the Partnership acquired certain conventional oil
and natural gas assets in the Danville, Waskom and Holly fields in East  Texas 
and North Louisiana, including and above the Cotton Valley formation, from  an 
affiliate of  BG Group  plc for  $130.9 million,  after customary  preliminary 
closing adjustments.  The  economic  effective date  of  the  transaction  was 
January 1, 2013. These properties represent an incremental working interest in
certain properties already purchased by the Partnership from EXCO. 

"This  acquisition   is  consistent   with  HGI   and  EXCO's   intention   to 
opportunistically add incremental  cash flow  to the  Partnership through  the 
acquisition of mature, conventional assets over time," said Omar Asali,  HGI's 
President. "In this  highly complementary  transaction, we  are adding  assets 
that EXCO has a history of operating  and the Partnership knows well. We  look 
forward to  continuing  to  build  value  for  investors  through  our  energy 
operating business."

A definitive agreement for the Partnership to enter into this transaction with
an affiliate  of  BG  Group  plc  was announced  on  February  15,  2013.  The 
Partnership funded this acquisition using its revolving credit agreement.  In 
connection with  the  closing,  the borrowing  base  under  the  Partnership's 
revolving credit agreement  was increased by  $70 million to  an aggregate  of 
$470 million. 

The foregoing summary  does not purport  to be a  complete description of  the 
transaction and  related agreements.  Interested  parties should  read  HGI's 
other announcements and public filings regarding this transaction and  related 
agreements by  reviewing  HGI's  filings  with  the  Securities  and  Exchange 
Commission (www.sec.gov).

About Harbinger Group Inc.

Harbinger Group  Inc. ("HGI";  NYSE: HRG)  is a  diversified holding  company. 
HGI's principal operations are conducted through subsidiaries that offer  life 
insurance and annuity products; branded  consumer products such as  batteries, 
personal care products, small household appliances, pet supplies, and home and
garden pest control products; and energy assets. HGI is principally focused on
acquiring  controlling  and  other  equity  stakes  in  businesses  across   a 
diversified range  of  industries  and growing  its  existing  businesses.  In 
addition to HGI's intention to  acquire controlling equity interests, HGI  may 
also from  time to  time  make investments  in  debt instruments  and  acquire 
minority equity interests in companies. Harbinger Group Inc. is  headquartered 
in New York and traded  on the New York Stock  Exchange under the symbol  HRG. 
For more information on HGI, visit: www.harbingergroupinc.com.

About EXCO Resources, Inc.

EXCO Resources,  Inc. is  an oil  and natural  gas acquisition,  exploitation, 
development  and  production  company  headquartered  in  Dallas,  Texas  with 
principal operations  in  East Texas,  North  Louisiana, Appalachia  and  West 
Texas.

Forward Looking Statements

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act  of 
1995: Some of the statements contained  in the Press Release and certain  oral 
statements made by our representatives from time to time regarding the matters
discussed  herein   are   or   may   be   forward-looking   statements.   Such 
forward-looking statements are  based upon  management's current  expectations 
that are subject to risks and  uncertainties that could cause actual  results, 
events and  developments to  differ  materially from  those  set forth  in  or 
implied  by  such  forward-looking  statements.  These  statements  and  other 
forward-looking statements  made  from time-to-time  by  the Company  and  its 
representatives, including the  expected ability  of the  Partnership to  make 
distributions, are based upon certain  assumptions and describe future  plans, 
strategies and expectations of the Company, are generally identifiable by  use 
of  the  words  "believes,"  "expects,"  "intends,"  "anticipates,"   "plans," 
"seeks," "estimates," "projects," "may"  or similar expressions. Factors  that 
could cause actual results, events and developments to differ include, without
limitation,  the  ability  of  the  Company's  subsidiaries  (including,   the 
Partnership) to generate sufficient net income and cash flows to make upstream
cash distributions, capital  market conditions,  that the Company  may not  be 
successful in identifying any  suitable future acquisition opportunities,  the 
risks that may  affect the performance  of the operating  subsidiaries of  the 
Company and  those factors  listed under  the caption  "Risk Factors"  in  the 
Company's most recent Annual Report on Form 10-K and Quarterly Report on  Form 
10-Q, filed with the Securities  and Exchange Commission. All  forward-looking 
statements described herein are qualified  by these cautionary statements  and 
there can be  no assurance  that the  actual results,  events or  developments 
referenced herein will occur  or be realized. The  Company does not  undertake 
any obligation  to  update or  revise  forward-looking statements  to  reflect 
changed assumptions,  the occurrence  of unanticipated  events or  changes  to 
future operation results

Contacts

Investors:
Tara Glenn, Investor Relations
Harbinger Group Inc.
450 Park Avenue, 30th Floor
New York, NY 10022
212-906-8560
investorrelations@harbingergroupinc.com

Media:
Jamie Tully/Michael Henson
Sard Verbinnen& Co
212-687-8080

SOURCE: Harbinger Group Inc.

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Source: Harbinger Group Inc. via Thomson Reuters ONE
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