Not true - according to Microsoft "If you already have Microsoft Security Essentials installed, you will continue to receive antimalware signature updates for a limited time, but this does not mean that your PC will be secure because Microsoft will no longer be providing security updates to help protect your PC". I understand this will continue to July 2015.
For those continuing to use MSE on XP it appears that the MSE icon may remain orange, giving the impression that it's not secure, but going into the program will show that it is being kept up to date and is scanning as per whatever schedule you have it set on.
For those who do want to change from MSE, you can try Avast, Avira or AVG for starters, although there are plenty of others to choose from too.
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