Moody's KMV Product Enables Bank Itau Europa to Achieve Regulatory Compliance

Moody's KMV, the world's leading provider of quantitative credit
risk measurement and management products and services, today announced
that the use of its CreditEdge software has enabled Bank Itau Europa
to receive regulatory compliance approval from the Portuguese
regulator.

As part of a growing number of regulatory requirements governing
bank operations, such as Basel II and IAS/IFRS, Bank Itau Europa
utilizes Moody's KMV's CreditEdge as a component of its internal
credit models to demonstrate proper management of country-specific
credit risk to regulators. CreditEdge provides its users with risk
measurement and loan default probability tools based on collective,
real-time intelligence from global markets.

"We are incredibly pleased that Bank Itau Europa has gained
regulatory approval for our internal models and believe that Moody's
KMV played a significant role in our success by providing us with the
appropriate tools and measures in order to meet the Central Bank's
requirements. CreditEdge has enabled us to maintain the highest
standards and best practices for credit risk management through its
ability to supplement and support impairment calculations and monitor
the credit rating process, and be used as an early warning
credit/country risk indicator. Credit Edge has also aided us in
becoming fully compliant with IAS/IFRS and Basel II," said Mario Rui
Gomes dos Santos, Head of Credit Risk Analysis of Bank Itau Europa.

"Moody's KMV has a distinguished history of partnering with
financial institutions to provide them with highly-developed solutions
for managing credit risk and regulatory compliance," said Andrew
Huddart, president of Moody's KMV. "CreditEdge enabled Banco Itau
Europa to meet the Central Bank's regulatory requirements in a timely
and transparent manner, and we look forward to working with other
banks that face similar issues."

About Moody's KMV

Moody's KMV, a wholly owned subsidiary of Moody's Corporation, is
the world's leading provider of quantitative credit risk solutions to
lenders, investors and corporations. Moody's KMV's tools and services
include platform software systems for credit decision processes and
the market standard current default probabilities for public and
private companies as well as recovery estimates, valuations and
correlations. The company maintains the largest database of corporate
defaults in the world. The company's solutions are widely used to
assess portfolio risk/return and are essential components in
strategies to achieve regulatory compliance for capital adequacy and
allocation. A significant credit risk Professional Services practice
complements its software and predictive models. Moody's KMV serves
over 1,700 clients in 85 countries, including most of the world's 100
largest financial institutions. In addition to its San Francisco
headquarters, Moody's KMV has several offices around the world to
serve its international customer base. Further information is
available at www.moodyskmv.com.