Financial Security Assurance Holdings Ltd.

As president and chief operating officer of FSA, Séan McCarthy has responsibility for the company's strategic direction and insurance originations, bringing together all of the critical skills and technical resources needed to advance the development of FSA's businesses. He has been chief operating officer since 1997 and became president in 2000. From 1993 to 1997, Mr. McCarthy was managing director of FSA's financial guaranty department, with responsibility for all transaction groups. He also formulated new business development strategies and played a key role in expanding the company's influence throughout the asset-backed and municipal markets. Earlier, as head of FSA's West Coast and Asia Pacific operations, he introduced the concept of asset-backed securities and monoline insurance to the Asia Pacific region and helped to open the market for residential mortgage securitization and insured infrastructure finance in Australia and New Zealand. Prior to joining FSA in 1988, he was a vice president in the municipal securities group of PaineWebber Incorporated. Earlier, he worked at E.F. Hutton in the public finance group.

Joe Simon is FSA's chief financial officer. A member of the company's Management Committee, he has responsibility for all finance, treasury and accounting operations, as well as facilities management. Since joining FSA in 2002, he has coordinated major corporate financing initiatives, including holding company bond offerings and creation of a $200 million money market committed preferred trust vehicle to expand FSA's claims-paying resources. Prior to joining FSA, Mr. Simon was CFO of Intralinks, a technology company serving the financial markets. From 1993 to 1999, he was CFO of Cantor Fitzgerald, one of the major broker-dealers in the fixed-income and equity markets, where he was responsible for a worldwide accounting staff performing financial, regulatory and management reporting. He also established the firm's treasury function. Before that, he also served as principal and vice president of Fixed Income Controllers at Morgan Stanley, where he was responsible for supervision of the investment bank's U.S. fixed income trading desks. He is a certified public accountant and began his professional career at Price Waterhouse in 1983. He received an MBA from the University of Michigan and is a graduate of Cornell University.

In his role as Managing Director and Chief Risk Management Officer, Russ Brewer oversees the Corporate Research and Transaction Oversight departments, as well as the risk management and operations functions within FSA's Financial Products business. He is a member of the Executive Management Committee and a director of Financial Security Assurance Inc. He was formerly FSA's Chief Underwriting Officer and, earlier, Managing Director of its Asset Finance Group. He joined FSA in 1986 and played a leading role in developing the use of financial guarantees for asset-backed securities. Before joining FSA, he was an Associate Director in the Structured Transactions Group at Moody's Investors Service. He holds a BA from Colby College and an MBA from New York University.

Mr. Stern has been a Managing Director, the Secretary and the General Counsel of the Company since April 1993. Since April 1993, he has been the Secretary of FSA, and since March 1989, he has been a Managing Director of FSA. He has been a director of FSA since August 1990. Prior to joining FSA as General Counsel in 1987, Mr. Stern was an attorney with Cravath, Swaine & Moore.

As Treasurer, Dennis Kim has responsibility for capital planning and managing FSA's capital and liquidity facilities. Prior to joining FSA, he was a Director in the Global Markets and Investment Banking Division at Merrill Lynch & Co. In addition to advising financial services clients on a variety of merger & acquisition and capital market transactions, he also served as the Chief Operating Officer of the Global Financial Institutions Group within Investment Banking. He received an MBA in finance from The Wharton School and a BA in economics from the University of Chicago.

Laura Bieling oversees FSA's accounting operations, develops accounting policy, supervises financial disclosures including Securities and Exchange Commission filings, and undertakes related special projects. Promoted to managing director and controller in 2004, she joined FSA as a vice president in the Finance Department in 2000. She has played an important role in analyzing the accounting and business impact of new accounting standards, such as those involving fair-value accounting for derivatives and consolidation of variable interest entities, and in harmonizing FSA's financial reporting under U.S. GAAP, U.S. statutory and international financial reporting standards. A certified public accountant, she was previously senior manager for Assurance/Business Advisory Services at PricewaterhouseCoopers LLP, where she held a series of progressively responsible positions from 1989 through 2000, specializing in insurance and reinsurance clients. She holds a Bachelor of Science degree in Business Administration from the University of Connecticut and is a member of the American Institute of Certified Public Accountants and the Connecticut Society of Certified Public Accountants.

Prior to joining FSA in 1997, Rick was a Managing Director of Bankers Trust Company, Hong Kong, where he was responsible for origination, structuring and execution of asset securitizations, project finance, trade finance, cross-border leasing and tax arbitrage transactions. Earlier, he was based in New York, where his responsibilities included financings in both Asia and the Americas. Before joining Bankers Trust in 1990, Rick was an investment banker at Shearson Lehman Hutton and, earlier, at Paine Webber Incorporated. He began his career with the law firm of Dewey Ballantine in New York. He holds a Doctor of Jurisprudence, with honors, from the University of Texas and a BA from Harvard University.

Mr. Ozanne is chairman of Greenrange Partners. Among numerous positions in his long career in financial services, he was previously chairman of Nations Financial Holdings Corporation, president and chief executive officer of U S WEST Capital Corporation and executive vice president of General Electric Capital Corporation. He was a member of the FSA Holdings board from January 1990 through May 2003 and rejoined our board in September 2004. He was vice chairman of FSA Holdings from May 1998 to July 2000.

Mr. Piret is Chief Risk Officer and a member of the Management Board of Dexia. Over the course of his different assignments, he has been in charge of many different areas of banking activity (including risk management, operations, information technology, securities, public finance and others). As a member of the Management Board of Dexia Bank Belgium, he was in charge of Public & Project Finance, Balance Sheet Management and Financial Markets. He previously served on the boards of Artesia Banking Corporation and Bacob Bank. Before beginning his finance career at Assubel Group and, later, Crédit Général de Banque, he was trained as a civil engineer at Université Catholique de Louvain. He joined the FSA Holdings board in August 2008.

Most recently John W. Everets was Chief Executive Officer of HPSC, Inc. Established in 1974, HPSC is a non-bank specialty finance company that provides leasing and healthcare equipment financing on a nationwide basis. HPSC, Inc. was purchased by GE Capital Corporation in 2004 Prior to becoming CEO of HPSC, Mr. Everets was Chairman of the Board and Chief Executive Officer of T.O. Richardson Co., Inc., an investment management company. He was also Executive Vice President and Director of Advest, Inc. from 1977 to January 1990. In addition, he served as Chairman of the Board of Billings & Co., Inc., a real estate investment banking firm, and Chairman of Advest Credit Corp., both subsidiaries of Advest Group, Inc. Mr. Everets was Vice Chairman of the Connecticut Development Authority as well as Chairman of the Loan Committee of the quasi-government agency. Mr. Everets is a Director of Sitewatch and The Trust for Americas Health. Mr. Everets joined the Board of MicroFinancial Incorporated in August of 2006 as an Independent Director and is also the Chairman of its Strategic Committee.

Mr. Buysschaert is Dexia’s deputy head of Mergers and Acquisitions (M&A)/Strategy/Transversal Projects. From 2003 to 2008, he was in charge of M&A transactions for the Dexia Group, leading a team that managed and evaluated mergers, acquisitions and dispositions and studied the financial impact of internal reorganizations of Dexia’s subsidiaries and equity investments. He was previously a partner at Deloitte & Touche Corporate Finance NV and a banker with Deutsche Bank, Crédit Lyonnais and Chase Manhattan Bank. He joined our board in December 2008.

Currently head of the Risk Management Department of Dexia Crédit Local (DCL), Ms. Colin was previously DCL's compliance officer. She joined DCL in 1997 as deputy head of the Credit Risk Management Department, and later became deputy head of Human Resources. As a civil servant prior to joining Dexia, she was deputy head of the Financing and Planning Department of the City of Paris. She became a director of FSA Holdings in February 2007 and also serves on the DCL Board of Directors.

Mr. Poupelle is the Chief Executive Officer of Dexia Crédit Local and a member of the Management Board of Dexia, where he is in charge of Public & Wholesale Banking. Prior to joining Dexia, he was deputy general manager, global head of corporate coverage and a member of Calyon's Management Board. At Calyon, he was responsible for the bank's relationships with its corporate clients and also supervised the global leveraged finance and loan syndications activities. Earlier, he was global head of institutional and corporate clients and a member of the Management Committee of Crédit Lyonnais, after leading Crédit Lyonnais' corporate and investment banking activities in the United States. Trained as an aerospace engineer, he began his banking career in Aviation Finance at Crédit Lyonnais, after 10 years in the French Ministries of Defense and Transportation, where he contributed to the development of the French aerospace industry. He joined the board of FSA Holdings in December 2008.

Mr. von Lowis is group chief financial officer and a member of the Management Board of Dexia S.A. He was previously senior executive vice president of Crédit Local de France, after serving as its chief financial officer and a member of its Executive Board. Earlier, he held management positions in the Local Development Division of Caisse des Dépôts et Consignations and the Local Authorities Department of the French Ministry of Interior. He joined our board in July 2000.

A member of the Management Board of Dexia S.A., Mr. de Walque was previously chief financial officer and a member of the Management Board of Dexia Bank. He joined the Dexia Group as head of Mergers and Acquisitions in 2001, after a decade at Compagnie Benelux Paribas (Cobepa), where he was responsible for Corporate Finance and a member of the Management Board. Earlier, he was an advisor in the cabinet of the deputy prime minister and the Budget Ministry of Belgium. He joined the FSA Holdings board in May 2006.