MILWAUKEE, June 30 /PRNewswire-FirstCall/ -- While MGIC Investment Corporation does not normally comment on market rumors, the Company understands there have been reports in the media that it has plans to offer additional shares. As previously announced, at a special meeting of shareholders on June 27, 2008, the Company's shareholders approved an amendment to the charter increasing the number of authorized shares of Common Stock by 160 million shares. The Company's April 29, 2008 press release announcing the record date for this meeting said that an increase in the number of authorized shares would be on the agenda for the special meeting. That press release also said the Company had no plans to issue shares of Common Stock other than for awards under its stock incentive plan and noted that the Company had outstanding Junior Subordinated Convertible Debentures convertible into Common Stock. The proxy statement for the special meeting, noting that the Company had shares reserved for issuance on conversion of its Junior Subordinated Convertible Debentures, said, "At the date of mailing of this proxy statement, we did not have any plans to issue any additional shares of Common stock, other than the possible issuance of reserved shares under our 2002 Stock Incentive Plan." The proxy statement was mailed on May 29, 2008. The Company's plans, as communicated in our April 29 press release and May 29 proxy statement, have not changed. At June 30, 2008, we still have no plans to issue any additional shares of Common stock, other than as referred to above. The Company is not undertaking any obligation to update the information in this press release. Interested parties should not rely on such information as being current at time other the time at which this press release was issued. About MGIC MGIC (http://www.mgic.com/), the principal subsidiary of MGIC Investment Corporation, is the nation's leading provider of private mortgage insurance coverage with $221.4 billion primary insurance in force covering 1.5 million mortgages as of March 31, 2008. MGIC serves over 3,300 lenders with locations across the country and in Puerto Rico, Guam and Australia helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. DATASOURCE: MGIC Investment Corporation CONTACT: Investors, Michael J. Zimmerman, +1-414-347-6596, , or Media, Katie Monfre, +1-414-347-2650, , both of MGIC Investment Corporation Web site: http://www.mgic.com/

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