MGIC Investment Corporation Announces Public Offerings of Common Stock and Convertible Senior Notes

  MGIC Investment Corporation Announces Public Offerings of Common Stock and
                           Convertible Senior Notes

PR Newswire

MILWAUKEE, March 5, 2013

MILWAUKEE, March 5, 2013 /PRNewswire/ --MGIC Investment Corporation (NYSE:
MTG) (the "Company") announced today that it has commenced a public offering
of 135 million shares of its common stock and $350 million aggregate principal
amount of its convertible senior notes due 2020. The convertible senior notes
will be convertible into shares of the Company's common stock. The Company
intends to grant to the underwriters a 30-day option to purchase up to an
additional 15 percent of the number of shares offered and an option to
purchase up to an additional $50 million aggregate principal amount of the
convertible senior notes. Neither the offering of the common stock nor the
offering of convertible senior notes will be contingent on the completion of
the other offering.

The Company intends to use the net proceeds from the offerings for its general
corporate purposes, which may include increasing the capital of the Company's
insurance subsidiary Mortgage Guaranty Insurance Corporation (MGIC) and other
subsidiaries of the Company, and improving liquidity by providing funds for
debt service.

Goldman, Sachs & Co. will act as sole book-running manager for both offerings.

The Company has filed a registration statement (including a prospectus and
related preliminary prospectus supplements for each of the common stock and
convertible senior notes offerings) with the Securities and Exchange
Commission (the "SEC") for the offerings to which this communication relates.
Before you invest, you should read the applicable preliminary prospectus
supplement and the accompanying prospectus for more complete information about
the Company and these offerings. You may obtain these documents free of
charge by visiting the SEC website at www.sec.gov. Alternatively, you may
obtain copies from Goldman, Sachs & Co., at 200 West Street, New York, NY
10282, Attention: Prospectus Department, by telephone at 1-866-471-2526 or by
emailing prospectus-ny@ny.email.gs.com.

This press release is not an offer to sell these securities and is not
soliciting an offer to buy these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.

About MGIC

MGIC, the principal subsidiary of MGIC Investment Corporation, is the nation's
largest private mortgage insurer as measured by $162.1 billion primary
insurance in force covering 1.0 million mortgages as of December 31, 2012.
MGIC serves lenders throughout the United States, Puerto Rico and other
locations helping families achieve homeownership sooner by making affordable
low-down-payment mortgages a reality.

From time to time, MGIC Investment Corporation releases important information
via postings on its corporate website without making any other disclosure, and
it intends to continue to do so in the future. Investors and other interested
parties are encouraged to enroll to receive automatic email alerts and Really
Simple Syndication (RSS) feeds regarding new postings. Enrollment information
can be found at http://mtg.mgic.comunder Investor Information.

SOURCE MGIC Investment Corporation

Website: http://www.mgic.com
Contact: Investor Contact: Michael J. Zimmerman, +1-414-347-6596,
mike_zimmerman@mgic.com,; or Media Contact: Katie Monfre, +1-414-347-2650,
katie_monfre@mgic.com
 
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