The Hartford Announces Receipt of Requisite Consents in Consent Solicitations

HARTFORD, Conn., Sept. 28 /PRNewswire-FirstCall/ -- The Hartford Financial Services Group, Inc. announced today that as of 3:00 p.m., EDT, on September 28, 2006, it had received consents from holders of at least a majority of the outstanding principal amount of each of the Hartford Life, Inc. 7.65% debentures due 2027 and 7.375% senior notes due 2031 (collectively, the "HLI notes") to a proposed amendment to the indenture governing the HLI notes, such that the proposed amendment has been approved.

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The Hartford made this announcement in connection with its offers to exchange all of the issued and outstanding HLI notes for a new series of The Hartford's senior notes due 2041 and cash, the related solicitation of consents to the proposed amendment and a separate solicitation of consents to the proposed amendment with respect to the 7.65% debentures.

As of 3:00 p.m., EDT, today, The Hartford had received tenders and consents from holders of $302,095,000, or approximately 76%, of the $400,000,000 outstanding principal amount of the 7.375% notes and $101,087,000, or approximately 40%, of the $250,000,000 outstanding principal amount of the 7.65% debentures in connection with the exchange offers and the exchange consent solicitation. Holders of an additional $67,779,000, or approximately 27%, of the outstanding principal amount of the 7.65% debentures had delivered, as of 3:00 p.m., EDT, today, separate consents in connection with the separate consent solicitation, which taken together with the consents received in the exchange consent solicitation, satisfies the requirement under the indenture that a majority of the principal amount of the 7.65% debentures consent to the proposed amendment.

The exchange offers and the exchange consent solicitation are subject to certain conditions, including, among other things, a requirement that at least a majority in aggregate principal amount of each of the 7.65% debentures and the 7.375% notes is validly tendered and not withdrawn on or prior to the expiration of the exchange offers. As set forth above, the minimum tender condition has been satisfied with respect to the 7.375% notes but not with respect to the 7.65% debentures. Accordingly, The Hartford announced today that it has waived the minimum tender condition to the exchange offers and exchange consent solicitations with respect to the 7.65% debentures.

In addition, The Hartford announced that the exchange offers, which had been set to expire at 12:00 midnight, EDT, on October 3, 2006, are being extended to 12:00 midnight, EDT, on October 4, 2006. The price determination time for the exchange offers will be 2:00 p.m., EDT, on October 2, 2006 and the settlement date for the exchange offers will be October 10, 2006. The separate consent solicitation expiration date for the 7.65% debentures remains 5:00 p.m., EDT, on September 29, 2006. The settlement date for the payment of the consent fee in the separate consent solicitation will be October 10, 2006.

Credit Suisse Securities (USA) LLC ([phone] or [phone]) is serving as the coordinating dealer manager and the coordinating solicitation agent and Citigroup Global Markets Inc. ([phone] or [phone]) and Deutsche Bank Securities Inc. ([phone] or [phone]) are serving as dealer managers and solicitation agents in connection with the exchange offers and consent solicitations. Global Bondholder Services Corporation is serving as the information agent and the exchange agent in connection with the exchange offers and consent solicitations. The separate consent solicitation is being made pursuant to a Consent Solicitation Statement dated September 25, 2006. The exchange offers are being made pursuant to a Prospectus and Consent Solicitation Statement dated September 5, 2006, copies of which may be obtained from the Securities and Exchange Commission's Internet site at http://www.sec.gov/. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 relating to the exchange offers may also be obtained from the information agent, Global Bondholders Services Corporation, at [phone] or [phone].

The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom.

This press release is not an offer to sell or a solicitation of an offer to buy any security. The exchange offers and consent solicitation is being made solely by the prospectus and consent solicitation statement and the related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

Some of the statements in this release may be considered forward-looking statements. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include, without limitation, those discussed in our Quarterly Reports on Form 10-Q, our 2005 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

Contacts: Media Investors Shannon Lapierre Kim Johnson 860-547-5624 [e-mail]