C. Edward Chaplin to Become Chief Financial Officer of MBIA; Outside Director and Treasurer of Prudential Financial To Assume Role June 26

Nicholas Ferreri, MBIA's current chief financial officer, isleaving the Company for personal reasons but will stay on to assist inthe transition. Mr. Ferreri's departure is unrelated to the ongoingregulatory investigations of the Company.

Gary Dunton, MBIA chief executive officer, said, "Chuck has beenan important contributor to our Board, and he brings significantfinancial industry experience and expertise to this leadershipposition. We thank Nick for his contributions to MBIA over the pastnine years, and wish him well in his future endeavors."

Mr. Chaplin is a Chartered Financial Analyst who has been withPrudential since 1983 and is currently responsible for capital andliquidity management, corporate finance, and banking and cashmanagement. He is a member of Prudential's Financial ControlsCommittee, a management group supervising capital commitments, balancesheet and legal entity structure, and a member of the InvestmentOversight Committee of Prudential's employee benefit plans.

Mr. Chaplin is a member of the Board of Overseers of RutgersUniversity and of the Executive Leadership Council, a business grouppromoting workplace diversity. He holds a B.A. degree from RutgersCollege and an M.A. degree from Harvard University.

MBIA Inc., through its subsidiaries, is a leading financialguarantor and provider of specialized financial services. MBIA'sinnovative and cost-effective products and services meet the creditenhancement, financial and investment needs of its public and privatesector clients, domestically and internationally. MBIA Inc.'sprincipal operating subsidiary, MBIA Insurance Corporation, has afinancial strength rating of Triple-A from Moody's Investors Service,Standard & Poor's Ratings Services, Fitch Ratings, and Rating andInvestment Information, Inc. Please visit MBIA's Web site athttp://www.mbia.com.