The Hartford Holds New York Investor Meeting

The Hartford Financial Services Group, Inc. (NYSE: HIG):

• Company increases 2008 guidance range to $4.70 to $4.90
• Operating businesses continue to perform well in challenging environment, reflecting strong underwriting in P&C Operations and sharpening of focus in Life Operations
• Year-end capital outlook for company’s Life and Property and Casualty Operations remains strong

At its investor meeting today, The Hartford Financial Services Group, Inc. (NYSE: HIG), will discuss the company’s operating businesses, financial strength, capital position and investment portfolio, among other items. The event will take place from 9 a.m. to noon EST today and a live audiocast and accompanying slides will be available at http://ir.thehartford.com/.

OPERATING BUSINESSES PERFORMING WELL

"The Hartford’s operating businesses are performing well, particularly in light of the challenging markets,” said Ramani Ayer, The Hartford’s chairman and chief executive officer. "Our property and casualty business is positioned to deliver strong underwriting results in 2009. In our life businesses, we will continue to focus on businesses with long-term growth opportunities and on enhancing our leadership positions in group benefit and individual life markets.”

CAPITAL REMAINS STRONG

"The Hartford is well capitalized and has ample liquidity. Our statutory surplus exceeded $13 billion as of September 30, 2008 and we hold more than $12 billion in cash, short-term investments and Treasuries, as of November 30, 2008. Our property and casualty operations are capitalized at levels higher than those historically associated with a AA level rated company,” said Ayer.

"In addition, the capital outlook for our life operations through year-end indicates more than sufficient capital in current market conditions, and even assuming significant additional market deterioration. Our currently available capital resources will allow us to maintain a 325 percent RBC ratio at year end even if the S&P 500 ends the year at 700 and would still leave untapped $2.85 billion of existing capital resources. In addition, we have ample liquidity with no senior debt maturing until mid-2010,” added Ayer.

INVESTMENT PORTFOLIO ECONOMICALLY SOUND

"We are confident in the long-term economic value of our almost $90 billion investment portfolio,” said Ayer. "Under severe recession scenarios we expect our portfolio to hold up quite well. Potential economic losses would be manageable under such scenarios. Our commercial mortgage-backed securities (CMBS) are highly rated with significant credit protection, and are broadly diversified by geography, property type and maturity date.”

The company expects to recover the vast majority of its unrealized loss position as of October 31, 2008, even in a deep recession.

REDUCING RISK IN VARIABLE ANNUITIES

The Hartford also reiterated its plans to reduce the risk in its variable annuity businesses. "The severe decline in equity markets and unprecedented levels of volatility in 2008 have caused capital strain for companies across the life industry. As we said in our third quarter earnings conference call, we are in the midst of reviewing our U.S. and international variable annuity businesses. Our plans are to reassess product features and pricing in light of consumer preferences, risk management and capital needs with the goal of substantially reducing the risk arising out of our variable annuity businesses,” added Ayer.

REVISED GUIDANCE REFLECTS CURRENT MARKET CONDITIONS

The Hartford also announced today that it is revising its full year 2008 guidance to reflect the fourth quarter prior period reserve releases in its property and casualty operations, as well as the current market environment. The Hartford currently expects 2008 core earnings per diluted share** to be between $4.70 and $4.90. The guidance contained within this news release is subject to unusual or unpredictable benefits or charges that might occur in the fourth quarter of 2008. Historically, the company has frequently experienced unusual or unpredictable benefits and charges that were not anticipated in previously provided guidance.

The 2008 guidance assumes the following items:

• U.S. equity markets end the year at an S&P 500 level of 860;
• A net investment loss from limited partnerships and other alternative investments of $240 million, pre-tax, for the period from October 1, 2008 to December 31, 2008;
• A pre-tax underwriting loss of $5 million for the period from October 1, 2008 to December 31, 2008 from other operations in property and casualty. In the last several years, underwriting losses in other operations have differed materially from the assumptions incorporated in guidance;
• Catastrophe losses of $40 million, pre-tax, for the fourth quarter of 2008;
• Property and casualty reserve releases of approximately $300 million, pre-tax;
• A decrease in core earnings of $145 million to $185 million, after-tax, related to an account value trigger on a Japanese variable annuity product (3Win);
• No off-cycle DAC unlock before the end of 2008; and
• Diluted weighted average shares outstanding of 313 million for full year 2008.

The company’s actual experience in 2008 will almost certainly differ from many of the assumptions described above, due to a number of factors including, but not limited to, the risk factors set forth in the company’s Form 10-Q Quarterly Reports and 2007 Form 10-K Annual Report, significant changes in estimated future earnings on investment products caused by changes in the equity markets, DAC amortization and our effective tax rate, up and down, that are difficult to anticipate or forecast, changes in loss-cost trends in the property and casualty businesses, catastrophe losses at levels different from assumptions and developments emerging as a result of changes in estimates arising from the company’s regular review of its prior-period loss reserves for all lines of insurance, including annual ground-up reviews of long-term latent casualty exposures, including environmental claims, and the recoverability of reinsurance for these claims.

About The Hartford

The Hartford, a Fortune 100 company, is one of the nation's largest financial services companies, with 2007 revenues of $25.9 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, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is www.thehartford.com.

HIG-F

* According to the National Association of Insurance Commissioners, the risk-based capital ratio is a measurement of the amount of capital (assets minus liabilities) an insurance company has as a basis of support for the degree of risk associated with its company operations and investments.

**Core earnings per share is calculated based on the non-GAAP financial measure core earnings. The Hartford believes that the measure core earnings per share provides investors with a valuable measure of the company's operating performance for many of the same reasons applicable to its underlying measure, core earnings. Net income per share is the most directly comparable GAAP measure. Core earnings per share should not be considered as a substitute for net income per share and does not reflect the overall profitability of the company's business. Therefore, The Hartford believes that it is useful for investors to evaluate both net income per share and core earnings per share when reviewing the company's performance. No reconciliation of estimated 2008 net income per share to 2008 estimated core earnings per share is provided because such a reconciliation is not available without unreasonable efforts.

Some of the statements in this release should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford’s future results of operations. The Hartford cautions 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, the difficulty in predicting the potential effect from the legislation and other governmental initiatives taken in response to the current financial crisis; the difficulty in predicting the company’s potential exposure for asbestos and environmental claims; the possible occurrence of terrorist attacks; the response of reinsurance companies under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the company against losses; changes in financial and capital markets, including changes in interest rates, credit spreads, equity prices and foreign exchange rates; the inability to effectively mitigate the impact of equity market volatility on the company’s financial position and results of operations arising from obligations under annuity product guarantees; the possibility of unfavorable loss development; the incidence and severity of catastrophes, both natural and man-made; stronger than anticipated competitive activity; unfavorable judicial or legislative developments; the potential effect of domestic and foreign regulatory developments, including those which could increase the company’s business costs and required capital levels; the possibility of general economic and business conditions that are less favorable than anticipated; the company’s ability to distribute its products through distribution channels, both current and future; the uncertain effects of emerging claim and coverage issues; the amount of statutory capital that the Company has and the Company’s ability to hold sufficient statutory capital to maintain financial strength and credit ratings; a downgrade in the company’s financial strength or credit ratings; the ability of the company’s subsidiaries to pay dividends to the company; the company’s ability to adequately price its property and casualty policies; the ability to recover the company’s systems and information in the event of a disaster or other unanticipated event; potential for difficulties arising from outsourcing relationships; potential changes in Federal or State tax laws, including changes impacting the availability of the separate account dividends received deduction; losses due to defaults by others; the company’s ability to protect its intellectual property and defend against claims of infringement; and other risks and uncertainties discussed in The Hartford’s Quarterly Reports on Form 10-Q, the 2007 Annual Report on Form 10-K and other filings The Hartford makes with the Securities and Exchange Commission. The Hartford assumes no obligation to update this release, which speaks as of the date issued.