Moody's Corporation Authorizes Share Repurchase Program and Declares Quarterly Dividend

On July 30, 2007, the Board of Directors of Moody's Corporation
(NYSE: MCO) authorized a new $2 billion share repurchase program.
Moody's expects to commence repurchases under the new program
immediately following completion of the existing program. As Moody's
has previously announced, the company plans to return capital to
shareholders by purchasing shares systematically, as well as
continuing to purchase opportunistically when conditions warrant. As a
result, the company's share repurchase activity may continue to vary
from quarter to quarter.

Moody's Board of Directors also declared a regular quarterly
dividend of 8 cents per share of Moody's common stock. The dividend
will be payable September 10, 2007 to stockholders of record at the
close of business on August 20, 2007.

Moody's is an essential component of the global capital markets.
It provides credit ratings, research, tools and analysis that help to
protect the integrity of credit. Moody's Corporation (NYSE: MCO) is
the parent company of Moody's Investors Service, which provides credit
ratings and research covering debt instruments and securities; Moody's
KMV, a provider of quantitative credit analysis tools; Moody's
Economy.com, which provides economic research and data services; and
Moody's Wall Street Analytics, a provider of software tools and
analysis for the structured finance industry. The corporation, which
reported revenue of $2.0 billion in 2006, employs approximately 3,600
people worldwide and maintains a presence in 27 countries. Further
information is available at www.moodys.com.