Moody's Corporation Announces New Business Unit Structure

Moody's Corporation (NYSE: MCO) announced today the reorganization
of its businesses into two operating divisions. Moody's Investors
Service, the rating agency, will continue to conduct the credit
ratings and related research business, while a new unit - Moody's
Analytics - will bring together Moody's KMV, Moody's Economy.com and
other businesses outside the rating agency, along with sales and
marketing for all of Moody's Corporation. This new structure is
designed to capture a broad range of growth opportunities in debt
markets worldwide and reinforce the independence of the company's
ratings business. The company named three senior executives to lead
the reorganized businesses.

"We are undertaking this reorganization in response to long-term
trends in the global debt markets as well as to better meet
expectations of our customers, regulatory oversight authorities and
other constituencies," said Raymond W. McDaniel Jr., Chairman and
Chief Executive Officer, Moody's Corporation. "Under our new
structure, we will achieve better integration across our credit
ratings business, while reinforcing the separation of the rating
agency from other, increasingly significant, commercial activities of
the corporation. In this respect, our reorganization reaffirms Moody's
commitment to providing objective, independent and rigorous ratings
opinions while responding to ever-growing demand for complementary
information and analysis services."

Brian Clarkson, 51, has been named President and Chief Operating
Officer of Moody's Investors Service, with overall responsibility for
leading Moody's ratings and research business. Mr. Clarkson, who has
been with Moody's for 16 years, was Executive Vice President and
Co-Chief Operating Officer for Moody's Investors Service, a position
he held since 2004. Mr. Clarkson was responsible for overseeing
Moody's global structured finance, global project finance, managed
funds and U.S.-based public finance ratings businesses, along with
sales and marketing activities related to Moody's credit research and
analysis products. Mr. Clarkson holds a J.D. from the University of
North Carolina in Chapel Hill, as well as a B.S. in finance and B.A.
in accounting from Ferris State College.

Christopher T. Mahoney, 52, has been named Vice Chairman of
Moody's Investors Service. In his new capacity, he will act as a
senior resource for a range of corporate initiatives. Previously, Mr.
Mahoney served as Executive Vice President and Co-Chief Operating
Officer with responsibility for Moody's global corporate, financial
institution and sovereign ratings. Mr. Mahoney, who has been with
Moody's for 21 years, is a graduate of Wesleyan University and has an
MBA from the University of Virginia.

Mark Almeida, 47, has been named Senior Vice President - Moody's
Corporation, with responsibility for directing the newly formed
Moody's Analytics division. Mr. Almeida has been with Moody's for 19
years, serving most recently as Senior Managing Director of the
Investor Services Group. Having had overall responsibility for sales
and marketing of Moody's portfolio of research products and services,
he will now oversee Moody's diverse businesses that provide research,
data, and analytical services to institutional investors, credit
professionals, and other capital markets participants globally. Mr.
Almeida holds a BA from St. Joseph's University, and an MBA from the
Leonard N. Stern School of Business at New York University.

About Moody's Corporation

Moody's is an essential component of the global capital markets,
providing credit ratings, research, tools and analysis that help
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 supplier of quantitative credit analysis tools; Moody's
Economy.com, which produces economic research and data services; and
Moody's Wall Street Analytics, a maker of analytical software for the
structured finance markets. 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.