Moody's KMV Names Dr. Jing Zhang Head of Research

Moody's KMV, the world's leading provider of quantitative credit
risk measurement and management solutions to lenders, investors and
corporations, today announced that Jing Zhang, Ph.D., has been named
Managing Director and Head of Research. Dr. Zhang will be based at the
Company's headquarters in San Francisco and will report to Andrew
Huddart, President of Moody's KMV.

Dr. Zhang brings broad experience to the position and has played a
key role over the years in forming the current research practice.
Joining Moody's KMV in 1998 as part of the research team, Dr. Zhang
progressed in the research department to become Deputy to Stephen
Kealhofer, one of the founders of KMV. In the role of Deputy, as
Director of Research, Dr. Zhang conducted credit risk research on key
topics such as single obligor EDF credit measures, correlation and
portfolio issues.

Since then, Dr. Zhang has held a number of additional senior roles
at Moody's KMV for the Americas, including Senior Director Client
Solutions and, most recently, Senior Director, Head of the Credit Risk
Specialist Group. Dr. Zhang's exceptional understanding of the credit
risk market and his ability to bring together research, data and the
operational needs of clients make him a natural fit for the position.

"Naming Jing Zhang Head of Research demonstrates our commitment to
providing the best credit risk solutions for our customers," said Mr.
Huddart, President of Moody's KMV. "Jing, in his capacity as a
Managing Director and as Head of Research, will provide exceptional
insight to our clients in credit risk and active portfolio management.
We believe that his experience and knowledge will ensure that Moody's
KMV continues to stay at the forefront of developing the most
innovative and leading edge research and related solutions in the
industry."

Dr. Zhang obtained his Ph.D. from the Wharton School, University
of Pennsylvania.

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
provide current default probabilities, recovery estimates, valuations
and correlations, and are widely used to assess portfolio risk and
return. Moody's KMV serves over 2,000 clients in 80 countries,
including most of the world's 100 largest financial institutions. The
company maintains the largest database of corporate defaults in the
world. In addition to its San Francisco headquarters, Moody's KMV has
offices around the globe to serve its international customer base.
Further information is available at www.moodyskmv.com.