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ISSUED 01/24/2008 FOR IMMEDIATE RELEASE

STATEMENT BY NEW YORK INSURANCE SUPERINTENDENT ERIC DINALLO ON BOND INSURERS

New York State Insurance Superintendent Eric Dinallo issued the following statement today:

“Clearly it is important to resolve issues related to the bond insurers as soon as possible. However, it must be understood that these are complicated issues involving a number of parties and any effective plan will take some time to finalize. In the meantime, we will not respond to the inevitable rumors. We believe it is important that the goals of market stability, protection for policyholders and a healthy and competitive bond insurance market be realized in the near future.”

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Department of Financial Services

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