BURLINGTON, MA, March 24, 2003—Cognos (Nasdaq: COGN; TSX: CSN), the world leader in business intelligence (BI) and performance management, today announced PMI has purchased Cognos Series 7 and will implement it strategically across the enterprise. The purchase, which includes Cognos Metrics Manager and Cognos DecisionStream, was a competitive win over several other candidate solutions.

The PMI Group, Inc., through its subsidiaries is a leading provider of private mortgage insurance in the United States, Australia, New Zealand, and Europe, and provides mortgage guaranty reinsurance in Hong Kong. With Cognos, PMI will perform analysis regarding risk management and customer and product profitability — tracking Key Performance Indicators (KPIs) across the entire enterprise, including sales, operations, finance, underwriting, and risk management.

"Using Cognos, PMI will implement a new framework for corporate performance management that allows us to look beyond just financial measures and ensures that we are focusing our efforts where we can provide the most value to our customers and ourselves," said Stan Pachura, Vice President of e-Business and Strategic Technologies, PMI Mortgage Insurance. "Cognos solutions will enable us to effectively monitor performance across all strategic business units, providing a single, unified view of corporate information."

Cognos Metrics Manager has been designated as Balanced Scorecard Collaborative Certified^TM. Under the terms of the certification, Cognos Metrics Manager is designated as compliant with Balanced Scorecard Functional Standards^TM as maintained by Balanced Scorecard Collaborative. The certification is designed to eliminate confusion in the marketplace through educating suppliers and buyers as to the important elements of a Balanced Scorecard management system.

"Cognos Series 7 delivers a comprehensive solution to the financial services industry that enables customers to increase profitability, manage risk and gain an in-depth view of performance management across all business channels," said Leo Tucker, banking industry marketing director, Cognos. "PMI Mortgage is exemplary of how Cognos customers are strategically deploying business intelligence to improve corporate performance and improve their ability to effectively compete in a cut-throat industry."

About PMI Mortgage Insurance Co.:
PMI Mortgage Insurance Co., headquartered in Walnut Creek, California, is a leading provider of private mortgage insurance, directly and through subsidiaries, in the United States, Australia, New Zealand, and Europe, and provides mortgage guaranty reinsurance in Hong Kong. PMI together with its parent company, The PMI Group, Inc., and its corporate affiliates, is a leader in mortgage risk management technology, and provides various products and services for the home mortgage finance industry, as well as title insurance.