Radian Expands Stock Repurchase Program
08 Septembre 2004 - 11:24PM
PR Newswire (US)
Radian Expands Stock Repurchase Program PHILADELPHIA, Sept. 8
/PRNewswire-FirstCall/ -- Radian Group Inc. (NYSE:RDN) announced
that its Board of Directors has authorized the purchase of an
additional two million shares as part of the company's existing
stock repurchase program. Since the inception of the program in
May, when Radian's Board authorized the purchase of three million
shares, Radian has repurchased approximately two million shares
totaling more than $92 million. Share purchases may be made from
time to time in the open market depending on market conditions,
share price and other factors. The program will be funded from
available working capital. Radian Group Inc. is a leading credit
enhancement provider to the global financial and capital markets,
headquartered in Philadelphia. Radian's subsidiaries provide
products and services through three business lines: financial
guaranty, mortgage insurance and other financial services.
Additional information may be found at
http://www.radiangroupinc.com/. All statements in this press
release that address operating performance, events or developments
that we expect or anticipate may occur in the future are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the U.S. Private Securities Litigation Reform Act
of 1995. These statements are made on the basis of management's
current views and assumptions with respect to future events. The
forward-looking statements are subject to risks and uncertainties
including the following: changes in general financial and political
conditions, such as extended national or regional economic
recessions (or expansions), changes in housing values, changes or
volatility in interest rates, or other political instability;
changes in investor perception of the strength of private mortgage
insurers or financial guaranty providers, and risks faced by the
businesses, municipalities or pools of assets covered by Radian's
insurance; the loss of significant customers with whom Radian has a
concentration of its insurance in force; rising delinquencies in
mortgage loans insured by Radian resulting from increased
consolidation of mortgage lenders and servicers; increased severity
or frequency of losses associated with certain Radian products that
are riskier than traditional mortgage insurance and municipal
guaranty insurance policies; material changes in persistency rates
of Radian's mortgage insurance policies; downgrades of the
insurance financial-strength ratings assigned by the major ratings
agencies to Radian's operating subsidiaries; intense competition
from others and from alternative products to private mortgage
insurance and financial guaranty insurance; changes in the business
practices of Fannie Mae and Freddie Mac; legislative and regulatory
changes affecting demand for private mortgage insurance and
financial guaranty insurance; changes in claims against mortgage
insurance products resulting from the aging of Radian's mortgage
insurance policies; changes in Radian's ability to maintain
sufficient reinsurance capacity in an increasingly concentrated
reinsurance market; vulnerability to the performance of Radian's
strategic investments; and the loss of executive officers or other
key personnel. Investors are also directed to other risks discussed
in documents filed by Radian with the SEC, including the factors
detailed in our annual report on Form 10-K for the year ended
December 31, 2003 in the section immediately preceding Part I of
the report. Radian does not intend to and disclaims any duty or
obligation to update or revise any forward-looking statements made
in this press release to reflect new information, future events or
for any other reason. DATASOURCE: Radian Group Inc. CONTACT: For
investors - Mona Zeehandelaar, +1-215-231-1674 or ; or For the
media - Emily Riley, +1-215-231-1328 or , both of Radian Group Web
site: http://www.radiangroupinc.com/
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