MBIA Names Sean Carney to Board of Directors

MBIA Inc. announced that Sean D. Carney was elected to MBIA's board of directors in accordance with the board's power under MBIA Inc.'s by-laws to fill interim vacancies.

Carney was designated and elected to the board of directors pursuant to the terms of the amended and restated Investment Agreement dated as of February 6, 2008 between MBIA and Warburg Pincus. Carney has been a Member and Managing Director of Warburg Pincus and a General Partner of Warburg Pincus & Co. since January 2001 and has been employed with Warburg Pincus since 1996. He focuses on investments in the financial services sector and has also worked on the firm's healthcare team.

MBIA Chairman Daniel P. Kearney said, "Sean's experience in the financial services sector and his board directorship with several industry-leading companies will be a tremendous asset as we continue to reposition MBIA for future growth. We're pleased to welcome him as a new board member and appreciate Warburg Pincus' steadfast support since their investment in the company."

Prior to joining Warburg Pincus, Carney was a consultant at McKinsey & Company, Inc., a management consulting company. He is also Chairman and a Director of Tornier N.V., and is a member of the board of directors of several other privately held companies. Within the past five years, he also served as a Director of Arch Capital Group.

MBIA Inc. is a holding company whose subsidiaries provide financial guarantee insurance, as well as related reinsurance, advisory and portfolio services, for the public and structured finance markets, and asset management advisory services.

More Information:

http://www.mbia.com

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