LatAm Capital Advisors, Inc. (LCA), an indirect subsidiary of MBIA Inc. (NYSE: MBI), today announced that an innovative financing for which the company served as structuring agent and financial advisor received a 2010 Emerging Markets Award, Latin America Domestic Currency Bond, from International Financing Review (IFR) and was recognized as Best Structured Financing Deal and Best Financing Innovation of 2010 by Latin Finance magazine.

This transaction for the State of Mexico closed on August 23, 2010 with the sale of debt securities on the Mexican Stock Exchange (Bolsa Mexicana de Valores) by Promotora de Infraestructura Registral (PROIN), a special purpose financing vehicle formed by LCA. Proceeds of the sale are funding the completion of the modernization of the State of Mexico's systems for the registration of real property and various other public infrastructure projects in the state.

The deal was lauded for its novel structure and achievement of several ?firsts.? For example, it is the first time the United States' Overseas Private Investment Corporation (OPIC), and the Andean Development Corporation (CAF), have provided a guarantee in the Mexican capital markets. The transaction is also Mexico's first bond issuance that is backed by property registry fees.

The certificates were issued in two separate series that mature in 2030: series A (PROIN 10) for MXN2.765 billion and series B (PROIN 10-2) for MXN1.3 billion. The PROIN 10 certificates are rated ?mxAAA', by Standard & Poor's (S&P), and ?AAA(mex)' by Fitch Ratings (Fitch), in each case the highest possible designation for the debt market of Mexico. The PROIN 10-2 certificates are rated ?mxAA' by S&P and ?AA(mex)' by Fitch.

?We are delighted with the recognition this transaction has earned,? said Eugenio Mendoza, President of LCA. ?The collaboration among OPIC, CAF, LCA and the State of Mexico resulted in a deal that was embraced by the local capital markets and will support Mexico's continued economic development.?

?We at OPIC are delighted to share these awards with our excellent partners in the project: MBIA Inc., its subsidiary LatAm Capital Advisors, the Andean Development Corporation and the State of Mexico. The contributions of each were indispensable to the success of this project,? said OPIC President and CEO Elizabeth Littlefield.

?CAF is interested in participating in this type of transaction because it provides a new mechanism for financing infrastructure in the region, while stimulating the local capital markets,? said Enrique Garcia, President and CEO of the Latin American financial institution. ?The joint efforts of the State of Mexico, OPIC, LCA and CAF achieved a successful transaction that offers a new investment alternative in local currency to local investors who generally find limited opportunities for investing in long-term quality assets.?

The certificates constitute obligations of PROIN and are repayable solely from future revenues of the public registry of properties of the State of Mexico, Instituto de la Funcion Registral del Estado de Mexico. The certificates are nonrecourse against PROIN and are not debt obligations of MBIA Inc. or any of its subsidiaries.

LCA provides dedicated advisory services for asset valuation, transactional cash flow modeling, as well as structuring of credit and financing terms in Brazil, Chile, Colombia, Mexico and Peru. For more information, please visit our website at www.latamcapitaladvisors.com.

This news release relates to a completed offering of securities in Mexico, and does not constitute a public offering, nor solicitation or invitation to purchase securities.

Forward-Looking Statements

This release includes statements that are not historical or current facts and are ?forward-looking statements? made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words ?believe,? ?anticipate,? ?project,? ?plan,? ?expect,? ?intend,? ?will likely result,? ?looking forward? or ?will continue,? and similar expressions identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presently anticipated or projected. These risks and uncertainties could affect financial performance or could cause actual results to differ materially from estimates contained in or underlying MBIA Inc.'s or LCA's forward-looking statements and are discussed under the ?Risk Factors? section in MBIA Inc.'s most recent Annual Report on Form 10-K, which may be updated or amended in the MBIA Inc.'s subsequent filings with the Securities and Exchange Commission. MBIA Inc. and LCA caution readers not to place undue reliance on any such forward-looking statements, which speak only to their respective dates. MBIA Inc. and LCA undertake no obligation to publicly correct or update any forward-looking statement if it later becomes aware that such result is not likely to be achieved.

LatAm Capital Advisors, Inc.
Media:
Kevin Brown, +1-914-765-3648
or
Elizabeth James, +1-914-765-3889
or
Investor Relations:
Eugenio Mendoza, +1-914-439-0178