Harbinger Group Inc. Announces Pricing of Fidelity & Guaranty Life Holdings, Inc.’s $300 Million Senior Notes

  Harbinger Group Inc. Announces Pricing of Fidelity & Guaranty Life Holdings,
  Inc.’s $300 Million Senior Notes

Business Wire

NEW YORK -- March 22, 2013

Harbinger Group Inc. (“HGI”; NYSE: HRG), announced today that its wholly-owned
subsidiary, Fidelity& Guaranty Life Holdings, Inc. (“FGL”), priced an
offering of $300.0 million aggregate principal amount of its 6.375% senior
notes due 2021. The notes were priced at par with a coupon of 6.375%. The
notes will mature on April 1, 2021. The offering is expected to close on or
about March27, 2013. FGL expects to use the net proceeds from the issuance of
the notes for general corporate purposes, to support the growth of its
subsidiary life insurance company and to pay a dividend to HGI.

The notes were offered to qualified institutional buyers pursuant to Rule 144A
under the Securities Act of 1933, as amended (the “Securities Act”) and to
persons outside the United States under Regulation S of the Securities Act.

The notes offered in this offering have not been registered under the
Securities Act or any state securities laws and, unless so registered, may not
be offered or sold in the United States except pursuant to an applicable
exemption from the registration requirements of the Securities Act and
applicable state securities laws.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the notes, nor shall there be any offer, solicitation or sale
of any notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful.

Forward Looking Statements

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of
1995: This document contains, and certain oral statements made by our
representatives from time to time may contain, forward-looking statements,
including the statements herein regarding the FGL notes offering. Such
statements 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 statements. These statements are based on the beliefs and
assumptions of HGI's management and the management of HGI's subsidiaries
(including target businesses). Generally, forward-looking statements include
information concerning possible or assumed future actions, events, results,
strategies and expectations and are generally identifiable by use of the words
“believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,”
“estimates,” “projects,” “may,” “will”, “could,” “might,” or “continues” or
similar expressions. Factors that could cause actual results, events and
developments to differ include, without limitation: the ability of HGI's
subsidiaries (including, target businesses following their acquisition) to
generate sufficient net income and cash flows to make upstream cash
distributions, capital market conditions, HGI and its subsidiaries ability to
identify any suitable future acquisition opportunities, efficiencies/cost
avoidance, cost savings, income and margins, growth, economies of scale,
combined operations, future economic performance, conditions to, and the
timetable for, completing the integration of financial reporting of acquired
or target businesses with HGI or HGI subsidiaries, completing future
acquisitions and dispositions, litigation, potential and contingent
liabilities, management's plans, changes in regulations, taxes and the those
forward looking statements included under the caption “Risk Factors” in HGI's
most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. 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. HGI 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.

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, and branded consumer products such as
batteries, personal care products, small household appliances, pet supplies,
and home and garden pest control products. 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.


Harbinger Group Inc.
Investor Relations
Tara Glenn, 212-906-8560
Sard Verbinnen& Co
Jamie Tully/Michael Henson, 212-687-8080
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