Citigroup Prices Offering of its Remaining Equity Stake in Primerica

DULUTH, Ga.--(BUSINESS WIRE)-- Primerica, Inc. (NYSE: PRI) today announced the pricing of a public offering of 8,081,542 shares of Primerica’s common stock held by a subsidiary of Citigroup Inc. at a price per share to the public of $22.29. The offering reflects the sale of all of the remaining shares of Primerica common stock beneficially owned by Citigroup immediately following Primerica’s initial public offering. A subsidiary of Citigroup will receive all of the net proceeds from the offering, and Citigroup Global Markets Inc. is acting as sole book-running manager for the offering.

The offering is being made pursuant to Primerica’s existing effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the “SEC”). The offering of these securities is being made only by means of a prospectus and a related prospectus supplement. Copies of the prospectus and prospectus supplement may be obtained from Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, telephone: (800) 831-9146.

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

FORWARD-LOOKING STATEMENTS

Except for historical information contained in this press release, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. No assurance is given that the securities offering discussed above will be completed on the terms described, or at all. Completion of the securities offering on the terms described is subject to numerous conditions, many of which are beyond the control of Primerica, including, without limitation, general economic conditions, market conditions, legislative and regulatory changes that could adversely affect the business of Primerica, and other factors, including those set forth in the Risk Factors section of Primerica’s periodic reports filed with the SEC, which are available on the SEC’s website at http://www.sec.gov. Primerica assumes no duty to update its forward-looking statements as of any future date.

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading distributor of financial products to middle-income families in North America. Primerica representatives educate their Main Street clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance protection, investment and savings, and other financial products. In addition, Primerica provides an entrepreneurial full or part-time business opportunity for individuals seeking to earn income by distributing its financial products. Primerica insures more than 4.3 million lives and approximately 2 million clients maintain investment accounts with the company. Primerica is a member of the Russell 2000 stock index and is traded on The New York Stock Exchange under the symbol “PRI”.

Primerica, Inc.
Investor Relations:
Kathryn Kieser, 770-564-7757
investorrelations@primerica.com
or
Media Relations:
Mark L. Supic, 770-564-6329
mark.supic@primerica.com

Source: Primerica, Inc.

Released December 13, 2011