Genworth Life Insurance Company Welcomed as New FHLBank Pittsburgh Member

The Federal Home Loan Bank (FHLBank) of Pittsburgh today announced that Genworth Life Insurance Company (Genworth Life) has been added as its newest member.

Rated ‘A’ (Excellent) by A.M. Best Co., Genworth Life becomes one of the more than 200 insurance companies within the FHLBank System. Genworth Life, with $32.97 billion in assets as of December 31, 2009, is a wholly owned subsidiary of Genworth Financial, Inc.

Membership in FHLBank Pittsburgh provides Genworth Life with access to FHLBank’s line of products and financial services to enhance liquidity and provide a low-cost source of funds for asset/liability management through funding agreement issuance and other general banking services.

"We are pleased to welcome one of America’s premier life insurance companies to the FHLBank Pittsburgh family,” said John R. Price, president and chief executive officer. "For 78 years, and through all economic cycles, the Home Loan Banks have served as a reliable provider of low-cost liquidity for a variety of business purposes. We look forward to meeting Genworth Life’s needs in service to their management, customers and investors.”

About Genworth Financial

Genworth Financial, Inc. (NYSE:GNW) is a leading Fortune 500 global financial security company. Genworth Financial has more than $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth Financial operates through three segments: Retirement and Protection, U.S. Mortgage Insurance and International. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia.

Genworth Life Insurance Company is a Delaware-domiciled life insurance company licensed to do business in all states except New York.

For more information, visit www.Genworth.com.

About FHLBank Pittsburgh

FHLBank Pittsburgh is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. FHLBank Pittsburgh provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. FHLBank Pittsburgh is privately capitalized and funded, does not use taxpayer dollars, and enjoys a triple-A rating. At December 31, 2009, the Bank had 316 members in its district of Delaware, Pennsylvania and West Virginia and held approximately $65 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by Congress in 1932 to support the residential mortgage activities of local financial institutions. More recently, the FHLBanks have received authority to engage in additional activities in the areas of community and economic development.

This news release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include, but are not limited to, general economic conditions (including effects on, among other things, mortgage-backed securities), legislative and regulatory developments, changes in our membership profile, demand for advances, changes in projected business volumes, business and capital plan adjustments and amendments, regulatory actions or approvals, competitive pressure from alternative member funding sources, shifts in demand for our products and consolidated obligations and other risks detailed from time to time in the FHLBank’s filings with the Securities and Exchange Commission. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. The FHLBank Pittsburgh does not undertake to update any forward-looking statements made in this announcement.

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