Mr. Brown is the chief executive officer of MBIA Inc. He rejoined MBIA in February 2008 as chairman and chief executive officer and served as chairman until May 2009. He originally joined the Company as CEO in January 1999, having been a director since 1986, and became chairman in May 1999. He became executive chairman on May 6, 2004 and retired from that position on May 3, 2007. Prior to joining the Company, Mr. Brown was chairman of the board of Talegen Holdings, Inc. from 1992 through 1998. Before Talegen, Mr. Brown had been with Fireman's Fund Insurance Companies as president and CEO.

C. Edward (Chuck) Chaplin is president, chief administrative officer and chief financial officer of MBIA Inc. and he is also vice chairman and chief financial officer of its principal operating subsidiary, MBIA Insurance Corporation. Mr. Chaplin is responsible for the Company's accounting, tax, treasury and investor relations functions, financial planning, reinsurance, banking and liquidity management, information technologies and management services. He also oversees the company's relationships with the ratings agencies.

Prior to joining MBIA in 2006, Mr. Chaplin was senior vice president and treasurer of Prudential Financial Inc., responsible for its capital and liquidity management, corporate finance, and banking and cash management. He was chairman of the Financial Controls Council, a management group supervising capital commitments, a member of the Investment Oversight Committee of the company's benefit plans and a member of Prudential's Disclosure Committee.

Mr. Chaplin joined Prudential in 1983 as an associate investment manager in the Prudential Realty Group, and continually took on increasing responsibilities. In 1993, he was promoted to managing director and assistant treasurer, and then appointed treasurer in 1995. He was promoted to senior vice president in 2000.

Mr. Chaplin has an undergraduate degree from Rutgers College and a Master's Degree in City and Regional Planning from Harvard University. He has held the Chartered Financial Analyst designation since 1997.

Mr. Chaplin is a member of the Board of Overseers of Rutgers University, as well as a member of the Executive Leadership Council, a workplace diversity advocacy organization, and the President's Advisory Council of Hampton University.

Cutwater Asset Management

Mr. Corso joined the firm in 1994, establishing the company's asset management platform and building it into one of the largest fixed income managers in the world. With a staff of 123 people, Mr. Corso now oversees the investment of $39 billion in assets as of June 30, 2011 and directs the investment strategies of Cutwater's clients, including pension funds, global banks, corporations, Taft Hartley and insurance companies as well as approximately 300 municipalities across the United States. Mr. Corso also initiated and managed the expansion of the asset manager's international asset management business from a principal office in London, now a multi-billion dollar platform.

Prior to joining the firm, Mr. Corso served as co-head of a fixed income division at Alliance Capital Management. In his twenty seven-year career, he has held positions as a credit analyst, restructuring specialist, trader and portfolio manager. He has managed a wide range of fixed income products, including corporate, asset-backed, government, mortgage, municipal, credit default swap and derivative securities. He has developed several unique conduit businesses including East-Fleet, a London based vehicle serving several global banks. He was also an early pioneer in the credit derivatives market, developing several investment programs starting in 2000, and expanding this area to create the MINTS funds, one of the most successful CDS funds ever created with over $1.6 billion in notional value under management.

Mr. Corso began his career in banking positions as an analyst, lender and trader, and has led several notable and large debt restructurings. His analytical skills combine mathematics, game theory, economics, psychology and investment theory.

Mr. Corso graduated from Yale University with a degree in economics and earned an MBA from Columbia University. He has lectured on topics from leadership to finance at many academic institutions, including Columbia University and New York University, where he taught a course on financial derivatives.

He currently holds Series 7, 24, and 63 licenses from the Financial Industry Regulatory Authority (FINRA) and is a member of the Fixed Income Analysts Society, Global Association of Risk Professionals (GARP) and the Investment Management Executive Council. Mr. Corso also serves on the Board of Directors of the MBIA Foundation, a not-for-profit charity.

Mr. Corso is also a member of the Eisenhower Fellowships Board of Trustees. The Eisenhower Fellowships engages emerging leaders from around the world to enhance their professional capabilities, broaden their contacts, deepen their perspectives, and unite them in a diverse, global community - a network where dialogue, understanding, and collaboration lead to a more prosperous, just, and peaceful world.

William C. Fallon is president and chief operating officer of MBIA Inc. and CEO of National Public Finance Guaranty Corporation. Mr. Fallon is responsible for overseeing the day-to-day operations of MBIA Inc. and its subsidiaries. Previously, Mr. Fallon was head of Global Structure Finance having joined the Company in 2005 as a managing director and head of Corporate and Strategic Planning.

Prior to joining MBIA, Mr. Fallon was a partner at McKinsey & Company, having joined the firm in 1991. Most recently at McKinsey, Mr. Fallon specialized in consulting with financial institutions and was co-leader of the firm's Corporate Finance and Strategy practice and a key member of the North American Wholesale Financial Institutions and Risk Management practices. He also worked extensively with financial institutions in the areas of value-based management, valuation, mergers and acquisitions, securitization and risk management.

Previously, Mr. Fallon was a financial consultant with Stern, Stewart & Co. From 1989 to 1991, he was a senior analyst at General Motors in the Treasurer's office, where he did corporate and international finance as well as mergers and acquisitions for the group.

Mr. Fallon has a BA in economics from the College of William and Mary and an MBA from The Amos Tuck School at Dartmouth, where he was elected a Tuck Scholar.

Mr. McKiernan is vice president and chief portfolio officer of MBIA Inc. and managing director and chief risk officer of MBIA Insurance Corp. He is responsible for the management of the company's insured portfolio and oversees remediations. He is a member of the Risk Oversight Committee of MBIA Inc. and chairman of the Executive Credit Committee of MBIA Insurance Corp. Mr. McKiernan joined MBIA in 2000 as a vice president in the Credit Analytics Group, and managed the Corporate Insured Portfolio Management Group prior to becoming the Head of the Structured Finance Insured Portfolio Management Group in 2007.

Before working at MBIA, Mr. McKiernan was with Fleet Financial Group where he began his career as a Credit Analyst/ Lender in asset-based lending.

Mr. McKiernan is a graduate of Fairfield University.

Mr. Wertheim is executive vice president, chief legal officer and secretary of MBIA Inc. Mr. Wertheim is responsible for overseeing and coordinating all of the company's legal activities. One of his primary responsibilities is to ensure that the company complies with all applicable laws and regulations. He and members of his staff also act as lead counsel on all material transactions in which the company is involved. As secretary, he is the senior legal advisor to the board of directors and senior management of the company on legal and regulatory matters affecting the company and its businesses. In 2000, Mr. Wertheim was appointed general counsel having previously been the co-head of the Structured Finance Division.

Mr. Wertheim joined MBIA in 1998 as a result of the CapMAC merger. At CapMAC, he was general counsel and chief administrative officer. As general counsel, he was responsible for all the legal affairs of CapMAC Holdings and its subsidiaries. On the administrative side, Mr. Wertheim oversaw Human Resources, Systems and Office Automation, Data Administration, and Facilities and Premises.

Before joining CapMAC, Mr. Wertheim practiced law with Simpson Thacher & Bartlett in New York where he represented clients in structured financing, mergers and acquisitions, banking securities, project finance, aircraft finance, asset-based lending and leveraged leasing.

Mr. Wertheim holds a B.A. in Economics (cum laude) from Queens College and a J.D. (magna cum laude) from Georgetown University Law Center.