SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Weeks Christopher E

(Last)

(First)

(Middle)

C/O MBIA

113 KING STREET

(Street)

ARMONK

10504

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/09/2004

3. Issuer Name and Ticker or Trading Symbol
MBIA INC [ MBI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Member, Exec. Policy Committee

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	907.42⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (Right to Buy)	12/07/1997	12/07/2005	Common Stock	954⁽²⁾	$25.71	D
Employee Stock Option (Right to Buy)	12/04/1998	12/04/2006	Common Stock	1,800⁽²⁾	$33.96	D
Employee Stock Option (Right to Buy)	12/11/1999	12/11/2007	Common Stock	1,485⁽²⁾	$42.79	D
Employee Stock Option (Right to Buy)	12/09/2000	12/09/2008	Common Stock	2,670⁽²⁾	$42.5	D
Employee Stock Option (Right to Buy)	12/09/2001	12/09/2009	Common Stock	3,765⁽²⁾	$32.54	D
Employee Stock Option (Right to Buy)	12/12/2002	12/12/2010	Common Stock	4,185⁽²⁾	$48.58	D
Employee Stock Option (Right to Buy)	02/07/2004	02/07/2012	Common Stock	4,400⁽²⁾	$52.81	D
Employee Stock Option (Right to Buy)	02/12/2005	02/12/2013	Common Stock	4,000⁽²⁾	$36.69	D
Employee Stock Option (Right to Buy)	02/10/2005	02/10/2014	Common Stock	4,000⁽³⁾	$64.84	D
Employee Stock Option (Right to Buy)	10/07/2007	10/07/2012	Common Stock	10,000⁽⁴⁾	$36.72	D
Employee Stock Option (Right to Buy)	06/09/2009	06/09/2014	Common Stock	60,000⁽⁵⁾	$55.6	D

Explanation of Responses:

1. Shares acquired prior to status as Reporting Person including a) 750 shares of restricted stock granted at $64.84 and vesting entirely in December 2008, and b) 157.42 shares held in Employee 401(k) Plan.

2. Options granted prior to status as a Reporting Person. Grant of options exempt under 16b-3 with 5 year gradual vesting: 0% on first anniversary; 40% on second anniversary; 20% each on third, fourth and fifth anniversary of the grant.

3. Options granted prior to status as a Reporting Person. Grant of options exempt under 16b-3 with vesting 25% on first anniversary; and 25% on second, third and fourth anniversary of grant.

4. Options granted prior to status as a Reporting Person. Options have cliff vesting - 100% on 5th anniversary of grant.

5. Grant of options having cliff vesting - 100% vested on 5th anniversary of grant.

	LEONARD I. CHUBINSKY AS ATTORNEY IN FACT	06/22/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.