FOR IMMEDIATE RELEASE 

Horsham, PA - March 12, 2008 - The Penn Mutual Life Insurance Company recently welcomed Eileen McDonnell as the company's executive vice president & chief marketing officer.  McDonnell joins Penn Mutual's executive leadership team as a key facilitator of the company's strategic direction and will specifically focus on building distribution capacity. She will also make it a priority to ensure that Penn Mutual's Producer Value Commitment continues to deliver its high level of support to producers who rely on its products, programs and services to build their businesses and meet clients' financial needs.

McDonnell's responsibilities in her new role include leadership of all of Penn Mutual's distribution channels, including its Career Agency System, Independence Financial Network, and Brokerage General Agency channels.   In addition, she is assuming the role of chairperson of the board of Hornor, Townsend & Kent, Inc., Penn Mutual's wholly owned broker-dealer subsidiary.  She also oversees Penn Mutual's sales support and field office administration areas.

A 20-year veteran of the financial services industry, McDonnell possesses valuable experience that is accented by her excellent record of field advocacy, team building and leadership. Prior to joining Penn Mutual, she was president and founder of ExecMPower, Inc., offering business planning, executive coaching and business re-design expertise. Before founding the company, she was president of New England Financial, a wholly owned subsidiary of MetLife, and senior vice president at Guardian Life Insurance Company, where she helped launch a new broker-dealer operation and a trust company.    She also held positions at AXA/Equitable.

"In the short time since Eileen joined Penn Mutual, a wave of momentum and energy has made its way out to our field offices that we can certainly attribute to her arrival," said Robert E. Chappell, Penn Mutual's chairman, president and chief executive officer.  "We are excited to build upon our company's current success and direction by utilizing Eileen's tactical expertise.  She is a welcome addition to the Penn Mutual team."

An active industry participant, McDonnell serves as a monthly columnist for ProducersWeb.com, an online resource for financial services professionals, and served as the Chair of Women and Financial Services at The American College in Bryn Mawr, PA.  A member of The American College's Master of Science in Management faculty, she has also served on the board of the Insurance Marketplace Standards Association (IMSA).  She was named by Crain's New York Business magazine as one of the "Forty Under Forty" executives on the rise in 2002. 
 
McDonnell graduated from Molloy College, Rockville Centre, New York, where she majored in mathematics and computer science. She recently concluded her tenure as a member of the Molloy College board of trustees. She earned her MBA in finance and investments from Adelphi University, in Garden City, NY. 

Howard Fischer Associates assisted Penn Mutual in the search process.

About The Penn Mutual Life Insurance Company
The Penn Mutual Life Insurance Company is the nation's second oldest mutual life insurer.  Founded in 1847, the company provides life insurance and annuities through a national network of financial professionals who help clients meet their financial needs with confidence.  Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary.  Visit Penn Mutual on the Internet at http://www.pennmutual.com.  

2008 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA  19044

Contact:
Emily Murray, Alta Communications, (215) 790-7847, emily@alta247.com               
Keith Bratz, Penn Mutual, (215) 956-7907, bratz.keith@pennmutual.com

A8JC-0311-07

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