ARMONK, N.Y.--(BUSINESS WIRE)--
MBIA Inc. (NYSE: MBI), the holding company for MBIA Insurance
Corporation, today announced a correction to information contained in
the Company's first quarter results issued earlier today. The
corrected information pertains to total revenue in the first quarters
of 2007 and 2008. The correct information is: Total revenue for the
first quarter of 2008 was $711.4 million (before realized and
unrealized gains and losses), down 4 percent from $741.7 million in
last year's first quarter.
Forward-Looking Statements
This release contains statements about future results that may
constitute "forward-looking statements" within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Readers are cautioned that these statements are not guarantees
of future performance. There are a variety of factors, many of which
are beyond MBIA's control, which affect the operations, performance,
business strategy and results and could cause its actual results to
differ materially from the expectations and objectives expressed in
any forward-looking statements. Accordingly, readers are cautioned not
to place undue reliance on forward-looking statements which speak only
as of the date they are made. MBIA does not undertake to update
forward-looking statements to reflect the impact of circumstances or
events that arise after the date the forward-looking statements are
made. The reader should, however, consult any further disclosures MBIA
may make in its future filings of its reports on Form 10-K, Form 10-Q
and Form 8-K.
MBIA Inc., through its subsidiaries, is a leading financial
guarantor and provider of specialized financial services. MBIA's
innovative and cost-effective products and services meet the credit
enhancement, financial and investment needs of its public and private
sector clients, domestically and internationally. MBIA Inc.'s
principal operating subsidiary, MBIA Insurance Corporation, has
financial strength ratings of Triple-A with a negative outlook from
Standard & Poor's Ratings Services and Triple-A with a negative
outlook from Moody's Investors Service. Please visit MBIA's Web site
at www.mbia.com.
Source: MBIA Inc.
Contact: MBIA, Media: Willard Hill, 914-765-3860
MBIA, Media: Elizabeth James, 914-765-3889
MBIA, Investor Relations: Greg Diamond, 914-765-3190
APCO Worldwide, Media: Jim McCarthy, 202-333-8810