Moody's Investors Service Announces New Senior Management Appointments

Moody's Investors Service today announced that Michel Madelain has
been named Executive Vice President, Moody's Investors Service,
responsible for global fundamental ratings, and Noel Kirnon has been
appointed Executive Vice President, Moody's Investors Service,
responsible for global structured and U.S. public finance ratings.
Andy Kimball has been named Chief Credit Officer and Chairman of
Credit Policy at Moody's Investors Service.

Mr. Madelain will assume responsibility for all global fundamental
ratings, including corporate finance, banking, insurance, financial
guarantors and non-banking finance. Previously, Mr. Madelain was Group
Managing Director with responsibility for global banking. Prior to
that, he was responsible for Moody's corporate ratings in Europe,
Middle East and Africa and held several managing director positions in
the U.S. and the U.K. fundamental rating groups. Michel Madelain holds
a master's degree in management from Northwestern University and is
qualified as a Chartered Accountant in France.

Mr. Kirnon will now be responsible for the global structured
finance ratings business, including asset finance and derivatives as
well as U.S. public finance ratings. Most recently, Mr. Kirnon was
Senior Managing Director, Moody's structured finance group,
responsible for global derivatives, managed funds and U.S. commercial
real estate. Previously, he was a Group Managing Director responsible
for Moody's mortgage rating business and prior to that he was a
Managing Director responsible for Moody's structured finance ratings
throughout Europe, Australia and Asia. Mr. Kirnon has a B.A. in
International Relations from John Hopkins University, a Diploma from
the John Hopkins University School of Advanced International Studies
(S.A.I.S.), and an M.B.A. from Columbia University.

In his new role, Mr. Kimball will assume responsibility for
guiding and coordinating all aspects of the firm's credit policy
framework, including credit policy research, ratings system process
management, performance measurement and oversight of the respective
Credit Committees for the fundamental, public finance and structured
finance ratings groups. To further enhance the independence of the
credit policy function, Mr. Kimball will have responsibility for
communicating to the Moody's Corporation board of directors concerning
developments in credit policy on a regular basis. Previously, Mr.
Kimball was Senior Managing Director, with responsibility for Moody's
global corporate finance group. Prior to that, Mr. Kimball held senior
management positions in Moody's risk management services, information
technology and structured finance groups. Mr. Kimball holds a Ph.D. in
English literature from Harvard University and a B.S. from Brigham
Young University.

Moody's Investors Service is a leading provider of credit ratings,
research, and risk analysis. Moody's commitment and expertise
contributes to stable, transparent and integrated financial markets,
protecting the integrity of credit. The firm's ratings and analysis
track debt covering more than 100 sovereign nations, 12,000 corporate
issuers, 29,000 public finance issuers, and 96,000 structured finance
obligations. Moody's also publishes credit opinions, research and
commentary, serving more than 9,300 customer accounts at some 2,400
institutions around the globe. Moody's Investors Service is a
subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue
of $2.0 billion in 2006, employs approximately 3,600 people worldwide
and maintains a presence in 27 countries. Additional information about
the company is available at www.moodys.com.