PHILADELPHIA, Feb. 15 /PRNewswire-FirstCall/ -- Radian Group Inc.
(NYSE: RDN) announced today that it has completed the five million share
repurchase program adopted in 2004. Radian's Board of Directors authorized an
additional program for the repurchase of up to an additional five million
shares of Radian's common stock. Under this new program, share purchases may
be made from time to time in the open market depending on market conditions,
share price and other factors. The purchases will be funded from available
working capital.
Under the recently completed program, five million shares were purchased
at a total cost of approximately $235.9 million and an average cost per share
of $47.19. (Of those five million shares, 2.8 million were purchased
subsequent to December 31, 2004 at a cost of $133.8 million.) As of February
14, 2005, Radian had 91,335,717 shares outstanding.
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.radian.biz.
SOURCE Radian Group Inc.
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Related links:
http://www.radian.biz
CONTACT:
For investors - Mona Zeehandelaar,
+1-215-231-1674, email: mona.zeehandelaar@radian.biz; or For the
media - David Cheung, +1-215-231-1362, email:
david.cheung@radian.biz, both of Radian Group
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