Cutwater Asset Management Announces Strategic Hire to Build out a Bank Loan Group

  Cutwater Asset Management Announces Strategic Hire to Build out a Bank Loan
  Group

Business Wire

ARMONK, N.Y. -- March 18, 2013

Cutwater Asset Management, a fixed income specialist serving the institutional
marketplace, today announced that Alex Jackson has joined the company as
Managing Director and Head of the Bank Loan Group. He has 22 years of
experience in leveraged finance, of which the past 12 years have been as a
bank loan portfolio manager, most recently as Deputy Chief Investment Officer
and CLO portfolio manager at CIFC Corp. Prior to joining CIFC in 2005, Mr.
Jackson served as a portfolio manager at J.H. Whitney & Company. He also spent
the first portion of his career originating and structuring non-investment
grade corporate loans at financial institutions including ING and National
Westminster Bank. Mr. Jackson received his formal credit training at Comerica
Bank and holds a B.A. in European History from Vanderbilt University, an
M.I.A. from Columbia University, and an M.B.A. from the University of Texas at
Austin.

Cliff Corso, Cutwater CEO and CIO, commented, “We are excited to announce the
addition of Alex to the Cutwater team. Alex brings to Cutwater his deep
experience in credit and bank loan management, and will work to expand our
capabilities in leveraged loans and high yield as well as build out a related
products suite, including CLO management and other varieties of bank loan
portfolios. Cutwater has managed CDOs since 1998 and has been an active
investor in structured products for nearly 20 years. The strategic move of
bringing Alex on board builds on our established expertise in structured
finance and CDO management, and demonstrates our steadfast commitment to our
mission of providing the institutional marketplace with innovative solutions,
strong and consistent risk-adjusted returns, and a full suite of products to
meet their fixed income needs.”

About Cutwater

Cutwater Asset Management is a client-focused and solutions-based investment
advisor focused exclusively on fixed income investments. Cutwater Asset
Management is one of the largest institutional fixed income investment
managers in the world. Cutwater’s model combines world-class investment
expertise and risk management capabilities with exceptional client service,
in-depth consultation, and extensive interaction between clients and the
investment team. Our investment philosophy is focused on delivering consistent
and superior risk-adjusted returns by taking a long-term view of the market
and applying a counter-cyclical and forward-looking approach to capital
allocation. For more information, please visit our website at
www.cutwater.com.

Disclaimer

The information contained in this press release is intended solely for
journalists and should not be relied upon by investors or any other persons to
make financial decisions. All of the views expressed in this press release
accurately reflect the personal views of the individual named. While opinions
stated are honestly held, they are not guarantees and should not be relied on.
The information or opinions provided should not be taken as specific advice on
the merits of any investment decision. Actual returns are reduced by
investment management fees. Investment involves risk, including the possible
loss of principal. No assurance can be given that the performance objectives
of a given strategy will be achieved. Past performance is not a guarantee of
future results.

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 Cutwater’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 Cutwater caution readers not to place undue reliance on any such
forward-looking statements, which speak only to their respective dates. MBIA
Inc. and Cutwater 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.

Contact:

Caliber Corporate Advisers
Dina Roskin, 888-550-6385