Shareholder Notice: Zwerling, Schachter & Zwerling, LLP Alerts Purchasers of MGIC...

Shareholder Notice: Zwerling, Schachter & Zwerling, LLP Alerts Purchasers of
MGIC Investment Corporation (MTG) Securities of July 15, 2008 Deadline For
Filing a Motion Seeking to be Appointed Lead Plaintiff

NEW YORK, May 20 /PRNewswire/ -- On May 12, 2008, Zwerling, Schachter &
Zwerling, LLP ("Zwerling Schachter") filed the first class action lawsuit in
the United States District Court for the Eastern District of Michigan on
behalf of all persons and entities who purchased or otherwise acquired the
securities of MGIC Investment Corporation ("MGIC" or the "Company") (NYSE:
MTG) during the period from February 6, 2007 through February 12, 2008,
inclusive (the "Class Period").

On May 16, 2008, a different law firm, unrelated to this firm or the filed
action, issued its own incorrect notice regarding the Zwerling Schachter
filing of the class action. The unrelated firm set forth an incorrect
deadline of July 11, 2008 for the filing of a motion by any party seeking to
be appointed lead plaintiff. This notice is being issued to correct that
misinformation. As described below, the correct deadline for any party to file
a motion seeking to be appointed lead plaintiff in this case is July 15, 2008.

MGIC operates, through its subsidiaries and affiliates, as a credit
enhancement company that provides credit protection products and financial
services to mortgage lenders and other financial institutions. One of MGIC's
affiliates is Credit-Based Asset Serving and Securitization ("C-BASS"), which
is engaged in the business of investing in credit-sensitive residential
mortgage assets.

The complaint alleges that defendants violated Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Specifically the complaint alleges that defendant issued false and materially
misleading statements that misrepresented and failed to disclose: (a) that
the C-BASS acquisition of Fieldstone adversely affected C-BASS liquidity; (b)
that the Company's $516 million investment in C-BASS was materially impaired;
(c) that the Company's loss reserves were inadequate in light of the worsening
housing market and increases in defaults and foreclosures; (d) that the
Company's Wall Street bulk transaction business was experiencing substantial
losses and no reserves were established to absorb these losses; and (e) that,
because of the increases in losses and drain on liquidity, the Company was not
adequately capitalized.

On July 30, 2007, after the market closed, MGIC issued a press release
announcing that the value of its investment in C-BASS was "materially
impaired." In response to this announcement, on July 31, 2007 the price of
MGIC's common stock declined from $45.44 per share to $38.66, on extremely
heavy trading volume.

Then on February 13, 2008, MGIC disclosed that it lost $1.47 billion, or
$18.17 a share, in the fourth quarter of 2007. The Company blamed the loss,
in part, on a $1.2 billion "premium deficiency reserve" relating to Wall
Street bulk transactions. On February 13, 2008, MGIC's stock price closed at
$12.61 a share, which represented a nearly $60 a share decline from the Class
Period high.

If you purchased the publicly traded securities of MGIC during the period of
February 6, 2007 through February 12, 2008, inclusive, you may apply to serve
as lead plaintiff. The lead plaintiff is responsible for overseeing the
prosecution of the action and ensuring that the interests of the class are
protected. Should you desire to be lead plaintiff, you may apply to be
appointed through Zwerling Schachter, as counsel.

If you wish to discuss this securities class action or have any questions
concerning your rights and interests with respect to this matter, please
contact Zwerling Schachter (Shaye J. Fuchs, Esq. or Jayne Nykolyn) at
1-800-721-3900 or by e-mail at sfuchs@zsz.com or jnykolyn@zsz.com.

Zwerling Schachter concentrates in prosecuting class actions nationwide on
behalf of investors. The firm currently plays a leading role in numerous
major securities and complex commercial litigations pending in federal and
state courts and has offices in New York City, Garden City, New York, Boca
Raton, Florida and Seattle, Washington. The firm has been recognized by
courts throughout the country as highly experienced and skilled in complex
litigation, particularly with respect to federal securities class action
litigation.

Visit our website at: www.zsz.com

SOURCE Zwerling, Schachter & Zwerling, LLP

Shaye J. Fuchs, Esq., sfuchs@zsz.com, or Jayne Nykolyn, jnykolyn@zsz.com, both
of Zwerling, Schachter & Zwerling, LLP, +1-800-721-3900