Moody's Corp.

Raymond W. McDaniel, Jr. is Chairman and Chief Executive Officer of Moody's Corporation. In this role, Mr. McDaniel is responsible for all activities of the corporation and its two operating divisions: Moody's Investors Service, the credit rating agency; and Moody's Analytics. Mr. McDaniel has held a variety of positions since joining the firm in 1987. He was named President of Moody's Investors Service in November 2001. He was promoted to Executive Vice President of the corporation and was elected to its board of directors in April 2003. Mr. McDaniel was appointed Chief Operating Officer of Moody's Corporation in January 2004, and was named President of the corporation in October 2004. He assumed responsibility as Chairman and Chief Executive Officer in April 2005. During his tenure, Mr. McDaniel has helped lead the company to record levels of financial performance and implemented important enhancements to Moody's ratings practices. Some of these initiatives include growing the core ratings and research business globally, implementing international expansion and new products, and improving professional practices in the ratings business by enhancing credit policies, rating committee processes, and credit research capabilities. In his earlier days with the firm, Mr. McDaniel served as Senior Managing Director for Global Ratings & Research. He was Managing Director for International, with responsibility for designing and managing regional expansion in Asia, Europe and the Americas. Mr. McDaniel also served as Managing Director for Moody's Europe, based in London. In that capacity, he was responsible for managing all business and rating activities for Moody's in the region. He began his Moody's career as a Senior Analyst in the Asset Securitization department in New York. Mr. McDaniel holds a J.D. from Emory University School of Law and a B.A. in political science from Colgate University. He was admitted to the Bar of the State of New York in 1984, and is a member of the board of directors of John Wiley & Sons, Inc. and the National Council on Economic Education.

Linda Huber joined Moody's Corporation as Executive Vice President and Chief Financial Officer in May 2005. Ms. Huber has executive responsibility for the corporation's global finance activities, including accounting and financial reporting, tax, treasury, business planning, investor relations and internal audit. She also is responsible for the firm's global corporate development, human resources, and communications functions. Prior to joining Moody's, Ms. Huber was Executive Vice President and Chief Financial Officer at U.S. Trust Company, a wholly-owned subsidiary of Charles Schwab & Company, Inc., since 2003. Previously, she was Managing Director at Freeman & Co., where she headed up the financial services practice from 1998 until 2003. Ms. Huber served PepsiCo as Vice President of Corporate Strategy and Development from 1997 until 1998, and as Vice President and Assistant Treasurer from 1994 until 1997. From 1991 until 1994, Ms. Huber was a Vice President in the Natural Resources Group at Bankers Trust Company, and was an Associate in the Natural Resources Group at The First Boston Corporation from 1986 through 1990. Ms. Huber held the rank of Captain in the U.S. Army, where she served from 1980 to 1984. During her years of military service, she received two Meritorious Service Medals and is airborne qualified. Ms. Huber holds an M.B.A. from Stanford Graduate School of Business and a B.S. (with high honors) in business and economics from Lehigh University.

Lisa Westlake is Chief Human Resources Officer for Moody's Corporation, a role she took on in November 2008 after serving two years as Vice President of Investor Relations. Ms. Westlake joined Moody's in 2004 as Managing Director – Finance, responsible for leading Treasury, Tax, and Business Planning for the firm and was appointed as a corporate officer in 2007. Prior to joining Moody's, Ms. Westlake was a Senior Consultant with the Schiff Consulting Group from 2003 to 2004 specializing in leadership strategies for finance executives. She was previously at American Express as Vice President and Chief Financial Officer for the OPEN Small Business Network where she oversaw more than $50 billion of small business spending and $6 billion of small business lending. Prior positions at American Express included Vice President and Chief Financial Officer for Establishment Services and before that for Relationship Services. She was at American Express from 1996 through 2003. From 1989 until 1995 Ms. Westlake held a range of financial management positions at the Dun & Bradstreet Corporation and its subsidiary at the time, IMS International. Her positions included Vice President-Finance for Global Software Services and Director-Restructuring for IMS France based in Paris. From 1984 to 1987 she served at Lehman Brothers in both the investment banking and municipal trading areas. Ms. Westlake holds an MBA from Columbia University Graduate School of Business and an AB in Biochemistry from Dartmouth College.

Michael Kanef is the Chief Regulatory and Compliance Officer for Moody's Investors Service. He assumed this role in December 2007, and is responsible for Moody's global, regulatory outreach and compliance efforts. Mr. Kanef joined Moody's as a senior analyst in the Term Asset-Backed Securities Team in 1997 after working as an associate in the Asset-Backed Finance Group at Skadden, Arps, Slate, Meagher & Flom, LLP. He was appointed co-head of the U.S. Term Asset-Backed and Asset-Backed Commercial Paper rating teams in June 2000 and promoted to Group Managing Director of the US. Asset Finance Group in June 2004. His responsibilities within the U.S. Asset Finance Group included participation in meetings with Congressional staffs and appearing before committees of both the U.S. Senate and House of Representatives. Mr. Kanef earned a J.D. cum laude from Boston University School of Law and B.A. in Economics from Trinity College.

Mr. Rotella joined Moody's Corporation as Senior Vice President and Chief Information Officer in December 2006. Prior to Moody's, Mr. Rotella spent seven years at American International Group (AIG), where he held a number of senior technology positions, including CIO for AIG's Domestic Brokerage group and AIG's Global Chief Technology Officer. Previously, he spent 15 years with American Management Systems (AMS), a technology consulting firm, where he held a variety of positions including Chief Technology Officer for AMS's Insurance Technology Group. Mr. Rotella graduated from the University of Pennsylvania with a Bachelor of Arts degree in mathematics and economics.

Arthur Skelskie is Vice President of Global Real Estate for Moody's Corporation. In this role, he is responsible for the management of all real estate transactions, design and construction projects and facilities management functions for Moody's, as well as business continuity planning and strategic sourcing, including global travel policies and procurement. Prior to joining Moody's in this role in 2007, Mr. Skelskie served as Vice President of Real Estate and Facilities Management at Time Inc., and Vice President of Siemens Real Estate, Inc. Mr. Skelskie began his career as a real estate attorney with the firm of Schulte Roth and Zabel, and also practiced real estate law at Stadtmauer & Bailkin, where he was a member of the corporate legal department. Mr. Skelskie holds an A.B. degree with honors from Brown University and J.D. degree from New York University.

Blair Worrall has served as Vice President, Internal Audit for Moody's Corporation since September 2007. Previously, Mr. Worrall held the position of Vice President and Controller for Moody's Investors Service, with responsibilities for general accounting, revenue accounting, billing and disbursements, as well as the preparation of the consolidated financial statements for Moody's Corporation. Prior to joining Moody's in November of 2004, Mr. Worrall was Vice President, Accounting for RCN Corporation from July 2002 to November 2004. Prior to RCN, Mr. Worrall worked for Dow Jones & Company, Inc. for 21 years in various capacities in their financial group, after starting his career in public accounting with Price Waterhouse & Co in 1978. Mr. Worrall holds an M.B.A. from Rider University and a B.S. in Accounting from The College of New Jersey, and is a Certified Public Accountant licensed in New Jersey.

Mr. Charles joined Moody's in December 2005 as Vice President – Treasurer. Prior to joining Moody's, he served as Assistant Treasurer and Director, Enterprise Risk Management for International Paper. He began his professional career in institutional sales at Dean Witter Capital Markets. Mr. Charles holds an MBA in finance from the University of Chicago Graduate School of Business. He also holds a BS in quantitative economics and an MS in public policy, both from the State University of New York at Stonybrook.

Jeffrey Hare is Vice President, Corporate Planning for Moody's Corporation. Mr. Hare is responsible for the development of financial budgets, forecasts and strategic plans; monitoring and reporting performance against financial and non-financial metrics; and providing analysis and information to senior management and Moody's board of directors. He previously was Vice President, Business Planning for the firm. Prior to joining Moody's, Mr. Hare held various finance positions at Sea-Land Service, Inc., a wholly-owned subsidiary of CSX Corporation. Mr. Hare holds an M.B.A. from Kellogg School of Management, Northwestern University and a B.S. in business management from Cornell University.

Liz Zale has served as Vice President, Investor Relations since December 2008. Ms. Zale joined Moody's in 2007 as Assistant Vice President, Investor Relations. Prior to joining Moody's, Ms. Zale was head of investor relations for DealerTrack Holdings from its initial public offering in 2005, and also served as Senior Manager of Marketing Communications at DealerTrack. She was previously Director of Marketing and Customer Strategy for the Executive Education division of Columbia Business School, where she led marketing and sales activities for Columbia's leadership and management development programs for three years. From 2000 to 2002, Ms. Zale was an associate in the media, technology and telecommunications practice of the strategy consulting group within IBM's Global Services division. From 1990 until 1998, Ms. Zale held a range of management and operational positions in the publishing industry, including Deputy Editorial Operations Manager for People magazine, Production Manager for Teen People magazine, and Production Supervisor within Houghton Mifflin's School Division. Ms. Zale holds an MBA from Columbia University Graduate School of Business and a BA magna cum laude in English literature from Middlebury College.

Rob Fauber became Vice President of Corporate Development for Moody's Corporation in April 2008. He runs the Company's corporate development group, which includes the origination, evaluation, and execution of investment, merger, and acquisition opportunities, as well as corporate strategy. Prior to joining Moody's, Mr. Fauber served in several roles at Citigroup from 1999 - 2005, including most recently, Director of Planning and Business Development for Citigroup's Alternative Investments division. Prior to that, Mr. Fauber worked as a Director in Corporate Strategy & Business Development for Citigroup parent, and a Vice President and Associate in the Financial Sponsor and Telecom investment banking groups at the firm's Salomon Smith Barney subsidiary. Mr. Fauber started his career at NationsBank (now Bank of America), working in the middle market commercial banking group in Atlanta from 1992-1996, and he also ran the firm's Global Finance college recruiting program in 1997 prior to going to business school. Mr. Fauber holds an M.B.A. (with distinction) from The Johnson School of Management at Cornell University and a B.A. in economics from the University of Virginia.

Mr. McCabe has served as the Company's Senior Vice President and Corporate Controller since December 2005. Mr. McCabe joined Moody's in July 2004 as Vice President and Corporate Controller. Mr. McCabe is responsible for Moody's worldwide accounting and financial reporting activities, including accounting, tax, policies and procedures, internal financial controls, SEC reporting, and compliance with the financial reporting control requirements of the Sarbanes–Oxley Act. Prior to joining Moody's, Mr. McCabe served as Vice President - Corporate Controller at PPL Corporation, an energy and utility company, from 1994 to 2003. Prior to PPL Corporation, Mr. McCabe was a partner at Deloitte & Touche from 1984 to 1993 and a member of the firm's audit practice from 1973 to 1984. Mr. McCabe holds a B.S. degree in accounting from Seton Hall University and is a Certified Public Accountant licensed in New Jersey.

Ms. Clark joined Moody's in August 2000 from R.H. Donnelley Corporation, where she served as Vice President and Corporate Secretary since July 1998. She spent over 14 years at R.H. Donnelley, a former Dun & Bradstreet company, in a number of legal management positions, including Vice President - Law and Government Affairs. Education: BA, Economics, Emmanuel College,1975.

Mr. Goggins joined Moody's in February 1999 from Dow Jones & Company, where he served as counsel for three years and was responsible for securities, acquisitions and general corporate matters. Prior to Dow Jones, he was an associate at Cadwalader, Wickersham & Taft from 1985 to 1995, where he specialized in mergers and acquisitions. Education: JD, University of Chicago Law School, 1985; BA in economics and history, Amherst College, 1982.

Darrell Duffie, age 54, is a member of the Audit and Governance and Compensation Committees of the Board of Directors. Dr. Duffie is the Dean Witter Distinguished Professor in Finance at Stanford University's Graduate School of Business, and has been a member of the finance faculty at Stanford since 1984. He has authored numerous books and research articles on security markets, derivatives, credit risk management and other topics in finance and related fields. Dr. Duffie is a member of The Federal Reserve Bank of New York Financial Advisory Roundtable, a Fellow of the Econometric Society and the American Academy of Arts & Sciences, and is the President-elect of the American Finance Association. Dr. Duffie is also a director of iShares, a family of Exchange Traded Funds (ETFs) from Barclays Global Investors.

Ewald Kist, age 63, is Chairman of the International Business Development Committee and is a member of the Audit and Governance and Compensation Committees of the Board of Directors. Mr. Kist was Chairman of ING Groep N.V ("ING Group"), a financial services company, from 2000 to his retirement in June 2004. Before serving as Chairman of ING Group, Mr. Kist was Vice Chairman from 1999 to 2000 and served as a member of the Executive Board from 1993 to 1999. Prior to the merger of Nationale Nederlanden and NMB Postbank Group to form ING Group in 1992, Mr. Kist served in a variety of capacities at Nationale Nederlanden beginning in 1969, including Chairman from 1991 to 1992, General Management – the Netherlands from 1989 to 1991 and President Nationale Nederlanden US Corporation from 1986-1989. Mr. Kist is also a director of The DSM Corporation, Royal Philips Electronics and the Dutch National Bank.