Assured Guaranty Ltd.

Financial Guaranty Profile (1 of 2)

As of June 30, 2008

(dollars in millions)

Net Par Outstanding and Average Rating by Asset Type

	Financial Guaranty Direct			Financial Guaranty Reinsurance			Consolidated
Sector:	Net Par Outstanding		Avg. Rating (1)	Net Par Outstanding		Avg. Rating (1)	Net Par Outstanding		Avg. Rating (1)
U.S. public finance
General obligation	$	5,954	A+	$	19,299	A+	$	25,253	A+
Tax backed	7,488		A	16,939		A+	24,427		A+
Municipal utilities	3,967		A	11,419		A	15,386		A
Healthcare	4,870		A	8,339		A+	13,209		A
Transportation	2,859		A	9,293		A	12,152		A
Higher education	1,793		A-	3,064		A+	4,857		A+
Investor-owned utilities	119		A	2,247		BBB+	2,365		BBB+
Housing	—		—	2,064		A+	2,064		A+
Other public finance	554		A	3,337		A+	3,891		A+
Total U.S. public finance	$	27,602	A	$	76,003	A+	$	103,605	A+

U.S. structured finance
Pooled corporate obligations	$	34,147	AAA	$	1,376	AA+	$	35,523	AAA
Prime mortgage-backed and home equity	11,548		AA-	1,210		BBB-	12,758		AA-
Consumer receivables	4,732		AA+	2,654		A	7,386		AA
Subprime mortgage-backed and home equity	6,690		AA+	302		BBB+	6,992		AA+
Commercial mortgage-backed securities	5,709		AAA	224		A-	5,934		AAA
Commercial receivables	2,334		AA	3,142		A-	5,476		A+
Structured credit	1,660		A-	423		BBB	2,083		BBB+
Insurance securitizations	947		AA-	354		AA	1,301		AA-
Other structured finance	49		AA	453		A-	502		A
Total U.S. structured finance	$	67,816	AA+	$	10,139	A	$	77,955	AA

International
Infrastructure and pooled infrastructure	$	7,150	AA+	$	4,445	BBB+	$	11,596	AA-
Mortgage-backed and home equity	9,854		AAA	275		AA	10,130		AAA
Pooled corporate obligations	8,661		AAA	1,020		AAA	9,681		AAA
Regulated utilities	4,401		A	4,358		BBB+	8,759		A-
Commercial receivables	1,001		A-	907		A-	1,908		A-
Public finance	839		AA	1,018		A	1,857		A+
Future flow	943		BBB	373		A-	1,316		BBB+
Commercial mortgage-backed securities	644		AAA	390		A-	1,034		AA
Insurance securitizations	923		BB	82		A	1,005		BB
Structured credit	—		—	600		A-	600		A-
Consumer receivables	—		—	99		AAA	99		AAA
Other international structured finance	741		AAA	117		BBB+	858		AA+
Total international	$	35,158	AA	$	13,684	A-	$	48,841	AA-

Total net par outstanding	$	130,576	AA	$	99,826	A	$	230,402	AA-

1. Assured’s internal rating. Assured’s scale is comparable to that of the nationally recognized rating agencies. The super senior category, which is not generally used by rating agencies, is used by the Company in instances where Assured’s AAA-rated exposure has additional credit enhancement due to either (1) the existence of another security rated AAA that is subordinated to Assured’s exposure or (2) Assured’s exposure benefits from a different form of credit enhancement that would pay any claims first in the event that any of the exposures incurs a loss, and such credit enhancement, in management’s opinion, causes Assured’s attachment point to be materially above the AAA attachment point.

Please refer to Glossary for description of selected types of U.S. public finance, U.S. structured finance and International obligations that the Company insures and reinsures.

Assured Guaranty Ltd.

Financial Guaranty Profile (2 of 2)

(dollars in millions)

Distribution by Ratings of Financial Guaranty Portfolio

	As of June 30, 2008
	Financial Guaranty Direct				Financial Guaranty Reinsurance				Consolidated
Ratings (1):	Net Par Outstanding		%		Net Par Outstanding		%		Net Par Outstanding		%
Super senior	$	44,493	34.1	%	$	29	0.0	%	$	44,522	19.3	%
AAA	34,986		26.8	%	5,354		5.4	%	40,340		17.5	%
AA	14,167		10.8	%	33,117		33.2	%	47,285		20.5	%
A	22,978		17.6	%	40,192		40.3	%	63,170		27.4	%
BBB	11,256		8.6	%	19,770		19.8	%	31,026		13.5	%
Below investment grade	2,697		2.1	%	1,363		1.4	%	4,060		1.8	%
Total exposures	$	130,576	100.0	%	$	99,826	100.0	%	$	230,402	100.0	%

	As of December 31, 2007
	Financial Guaranty Direct				Financial Guaranty Reinsurance				Consolidated
Ratings (1):	Net Par Outstanding		%		Net Par Outstanding		%		Net Par Outstanding		%
Super senior	$	36,359	35.3	%	$	—	—		$	36,359	18.2	%
AAA	41,716		40.5	%	5,617		5.8	%	47,333		23.6	%
AA	5,576		5.4	%	32,858		33.8	%	38,434		19.2	%
A	9,873		9.6	%	39,304		40.4	%	49,177		24.6	%
BBB	7,970		7.7	%	18,892		19.4	%	26,862		13.4	%
Below investment grade	1,526		1.5	%	588		0.6	%	2,114		1.1	%
Total exposures	$	103,021	100.0	%	$	97,258	100.0	%	$	200,279	100.0	%

	As of June 30, 2008
	U.S. Public Finance				U.S. Structured Finance				International				Consolidated
Ratings (1):	Net Par Outstanding		%		Net Par Outstanding		%		Net Par Outstanding		%		Net Par Outstanding		%
Super senior	$	—	—		$	28,997	37.2	%	$	15,524	31.8	%	$	44,522	19.3	%
AAA	1,618		1.6	%	26,947		34.6	%	11,774		24.1	%	40,340		17.5	%
AA	37,091		35.8	%	6,912		8.9	%	3,282		6.7	%	47,285		20.5	%
A	50,436		48.7	%	6,149		7.9	%	6,584		13.5	%	63,170		27.4	%
BBB	13,679		13.2	%	6,681		8.6	%	10,666		21.8	%	31,026		13.5	%
Below investment grade	780		0.8	%	2,268		2.9	%	1,011		2.1	%	4,060		1.8	%
Total exposures	$	103,605	100.0	%	$	77,955	100.0	%	$	48,841	100.0	%	$	230,402	100.0	%

	As of December 31, 2007
	U.S. Public Finance				U.S. Structured Finance				International				Consolidated
Ratings (1):	Net Par Outstanding		%		Net Par Outstanding		%		Net Par Outstanding		%		Net Par Outstanding		%
Super senior	$	—	—		$	22,098	29.9	%	$	14,261	32.0	%	$	36,359	18.2	%
AAA	1,777		2.2	%	34,370		46.6	%	11,185		25.1	%	47,333		23.6	%
AA	31,750		38.8	%	4,676		6.3	%	2,008		4.5	%	38,434		19.2	%
A	37,604		45.9	%	5,302		7.2	%	6,271		14.1	%	49,177		24.6	%
BBB	10,608		13.0	%	5,479		7.4	%	10,776		24.2	%	26,862		13.4	%
Below investment grade	174		0.2	%	1,894		2.6	%	45		0.1	%	2,114		1.1	%
Total exposures	$	81,914	100.0	%	$	73,820	100.0	%	$	44,546	100.0	%	$	200,279	100.0	%

Assured Guaranty Ltd.

Pooled Corporate Profile

(dollars in millions)

Distribution by Ratings of Direct Pooled Corporate Obligations as of June 30, 2008

Ratings (1):	Net Par Outstanding		%		Avg. Initial Credit Enhancement (2)		Avg. Current Enhancement (2)
AAA	$	38,012	88.8	%	37.7	%	36.2	%
AA	3,907		9.1	%	34.4	%	32.2	%
A	635		1.5	%	46.5	%	41.1	%
BBB	253		0.6	%	48.2	%	39.7	%
Below investment grade	—		—		—		—
Total exposures	$	42,808	100.0	%	37.6	%	36.0	%

Distribution of Direct Pooled Corporate Obligations by Year Insured as of June 30, 2008

Year insured:	Net Par Outstanding		%		Avg. Initial Credit Enhancement (2)		Avg. Current Enhancement (2)
2004 and prior	$	2,069	4.8	%	33.9	%	33.9	%
2005	7,499		17.5	%	36.9	%	34.7	%
2006	13,213		30.9	%	37.7	%	35.0	%
2007	16,765		39.2	%	38.3	%	37.2	%
2008 YTD	3,262		7.6	%	37.5	%	37.6	%
	$	42,808	100.0	%	37.6	%	36.0	%

Distribution of Direct Pooled Corporate Obligations by Asset Class as of June 30, 2008

Asset class:	Net Par Outstanding		%		Average Rating (1)	Avg. Initial Credit Enhancement (2)		Avg. Current Enhancement (2)
High yield corporates	$	27,314	63.8	%	AAA	35.4	%	33.6	%
Trust preferred - banks and insurance	3,907		9.1	%	AAA	47.2	%	45.9	%
Trust preferred - US mortgage and REITs	2,571		6.0	%	AA	50.0	%	45.7	%
Trust preferred - European mortgage and REITs	1,309		3.1	%	AAA	36.6	%	36.8	%
Market value CDOs of corporates	4,245		9.9	%	AAA	38.6	%	36.8	%
Investment grade corporates	2,337		5.5	%	AAA	28.7	%	29.6	%
Commercial real estate	755		1.8	%	AAA	49.0	%	48.9	%
CDO of CDOs (corporate)	370		0.9	%	AAA	34.6	%	35.3	%
	$	42,808	100.0	%	AAA	37.6	%	36.0	%

1. Assured’s internal rating. Assured’s scale is comparable to that of the nationally recognized rating agencies.

2.”Average Credit Enhancement” is intended to provide a measure of the amount of equity and/or subordinate tranches that are junior in the capital structure to Assured’s exposure, and reflects any reduction of that credit support resulting from defaults or other factors. For transactions where excess spread may be available to absorb certain losses, the numbers shown above do not include any benefit from excess spread. The calculation methodologies differ for the various asset classes to reflect differences in transaction structures in order to provide a measure that management believes is comparable across asset classes. Data is obtained from third-party sources such as trustee reports and may be subject to misstatement or correction.

Assured Guaranty Ltd.

Residential Mortgage-Backed Securities Profile (1 of 4)

(dollars in millions)

Distribution by Ratings(1) of Residential Mortgage-Backed Securities by Category as of June 30, 2008

	June 30, 2008
	US				International				Total Net Par
Ratings (1):	Prime		Subprime		Prime		Subprime		Outstanding		% of Total
Super senior	$	5,554	$	3,370	$	2,826	$	—	$	11,750	39.3	%
AAA	2,499		2,372		7,009		15		11,895		39.8	%
AA	366		581		154		2		1,103		3.7	%
A	1,338		203		110		—		1,651		5.5	%
BBB	978		276		14		—		1,267		4.2	%
Below investment grade	2,023		190		—		—		2,213		7.4	%
Total exposures	$	12,758	$	6,992	$	10,113	$	17	$	29,879	100.0	%

Distribution of Residential Mortgage-Backed Securities by Category and by Year Insured as of June 30, 2008

	US				International				Total Net Par
Year insured:	Prime		Subprime		Prime		Subprime		Outstanding		% of Total
2004 and prior	$	616	$	648	$	463	$	14	1,741		5.8	%
2005	1,543		101		1,245		0		2,889		9.7	%
2006	699		4,558		2,383		—		7,639		25.6	%
2007	7,129		1,649		2,830		2		11,610		38.9	%
2008 YTD	2,771		37		3,192		—		6,000		20.1	%
	$	12,758	$	6,992	$	10,113	$	17	$	29,879	100.0	%

Distribution of U.S. Residential Mortgage-Backed Securities by Rating(1) as of June 30, 2008

	Direct				Reinsurance				Total
	Net Par				Net Par				Net Par
Ratings (1):	Outstanding		%		Outstanding		%		Outstanding		%
Super senior	$	8,915	48.9	%	$	9	0.6	%	$	8,924	45.2	%
AAA	4,508		24.7	%	363		24.0	%	4,871		24.7	%
AA	844		4.6	%	103		6.8	%	947		4.8	%
A	1,371		7.5	%	170		11.3	%	1,541		7.8	%
BBB	915		5.0	%	338		22.4	%	1,254		6.3	%
Below investment grade	1,685		9.2	%	528		34.9	%	2,213		11.2	%
	$	18,238	100.0	%	$	1,512	100.0	%	$	19,750	100.0	%

Assured Guaranty Ltd.

Residential Mortgage-Backed Securities Profile (2 of 4)

(dollars in millions)

Distribution of Consolidated U.S. Residential Mortgage-Backed Securities by Rating(1) as of June 30, 2008

Ratings (1):	Prime First Lien		Prime Closed End Seconds		Prime HELOC		Alt-A First Lien		Subprime First Lien		Total Net Par Outstanding
Super senior	$	696	$	48	$	—	$	4,809	$	3,370	$	8,924
AAA	494		67		17		1,922		2,372		4,871
AA	92		258		14		2		581		947
A	145		—		15		1,178		203		1,541
BBB	738		6		210		23		276		1,254
Below investment grade	0		105		1,818		99		190		2,213
Total exposures	$	2,164	$	485	$	2,075	$	8,034	$	6,992	$	19,750

Distribution of Consolidated U.S. Residential Mortgage-Backed Securities by Year Issued as of June 30, 2008

Year issued:	Prime First Lien		Prime Closed End Seconds		Prime HELOC		Alt-A First Lien		Subprime First Lien		Total Net Par Outstanding
2004 and prior	$	303	$	—	$	214	$	158	$	638	$	1,313
2005	226		—		837		557		3,747		5,367
2006	498		6		204		634		1,921		3,263
2007	1,137		478		820		6,685		667		9,788
2008 YTD	—		—		—		—		19		19
	$	2,164	$	485	$	2,075	$	8,034	$	6,992	$	19,750

Assured Guaranty Ltd.

Residential Mortgage-Backed Securities Profile (3 of 4)

(dollars in millions)

Financial Guaranty Direct U.S. Residential Mortgage-Backed Securities Net Par Outstanding Underwritten Since January 1, 2004 by Rating(1) and Year of Issue as of June 30, 2008

Year	Super			AAA			AA			A			BBB			BIG
Issued	Senior			Rated			Rated			Rated			Rated			Rated			Total
2004 and prior	$	17		$	436		$	6		$	—		$	178		$	54		$	691
2005	2,082			2,213			180			—			—			706			5,181
2006	1,387			404			400			150			444			118			2,903
2007	5,429			1,455			257			1,221			293			807			9,462
2008 YTD	—			—			—			—			—			—			—
	$	8,915		$	4,508		$	844		$	1,371		$	915		$	1,685		$	18,238

% of total	48.9		%	24.7		%	4.6		%	7.5		%	5.0		%	9.2		%	100.0		%

Distribution of Financial Guaranty Direct U.S. Residential Mortgage-Backed Securities by Rating(1) as of June 30, 2008

Ratings (1):	Prime First Lien		Prime Closed End Seconds		Prime HELOC		Alt-A First Lien		Subprime First Lien		Total Net Par Outstanding
Super senior	$	696	$	48	$	—	$	4,800	$	3,370	$	8,915
AAA	338		64		—		1,873		2,233		4,508
AA	—		257		6		—		580		844
A	—		—		—		1,177		194		1,371
BBB	662		—		19		—		234		915
Below investment grade	—		97		1,416		93		79		1,685
Total exposures	$	1,697	$	466	$	1,441	$	7,944	$	6,690	$	18,238

Distribution of Financial Guaranty Direct U.S. Residential Mortgage-Backed Securities by Rating(1) as of June 30, 2008

Ratings (1):	Prime First Lien		Prime Closed End Seconds		Prime HELOC		Alt-A First Lien		Subprime First Lien
Super senior	41.0	%	10.3	%	—		60.4	%	50.4	%
AAA	19.9	%	13.6	%	—		23.6	%	33.4	%
AA	—		55.2	%	0.4	%	—		8.7	%
A	—		—		—		14.8	%	2.9	%
BBB	39.0	%	—		1.3	%	—		3.5	%
Below investment grade	—		20.8	%	98.2	%	1.2	%	1.2	%
Total exposures	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

Distribution of Financial Guaranty Direct U.S. Residential Mortgage-Backed Securities by Year Insured as of June 30, 2008

Year insured:	Prime First Lien		Prime Closed End Seconds		Prime HELOC		Alt-A First Lien		Subprime First Lien		Total Net Par Outstanding
2004 and prior	$	—	$	—	$	25	$	133	$	516	$	675
2005	194		—		706		439		88		1,428
2006	369		—		—		54		4,535		4,958
2007	1,134		466		710		4,547		1,550		8,406
2008 YTD	—		—		—		2,771		—		2,771
	$	1,697	$	466	$	1,441	$	7,944	$	6,690	$	18,238

Distribution of Financial Guaranty Direct U.S. Residential Mortgage-Backed Securities by Year Issued as of June 30, 2008

Year issued:	Prime First Lien		Prime Closed End Seconds		Prime HELOC		Alt-A First Lien		Subprime First Lien		Total Net Par Outstanding
2004 and prior	$	—	$	—	$	25	$	150	$	516	$	691
2005	194		—		706		557		3,723		5,181
2006	369		—		—		634		1,900		2,903
2007	1,134		466		710		6,603		550		9,462
2008 YTD	—		—		—		—		—		—
	$	1,697	$	466	$	1,441	$	7,944	$	6,690	$	18,238

Assured Guaranty Ltd.

Residential Mortgage-Backed Securities Profile (4 of 4)

(dollars in millions)

Distribution of Financial Guaranty Direct U.S. Residential Mortgage-Backed Securities Issued January 1, 2005 or Later by Exposure Type, Average Pool Factor, Subordination, Cumulative Losses and 60+ Day Delinquincies as of June 30, 2008 (1)

U.S. Prime First Lien

Year issued:	Net Par Outstanding		Pool Factor(2)		Subordination (3)		Cumulative Losses (4)		60+ Day Delinquencies (5)
2005	$	194	77.8	%	3.3	%	0.03	%	1.4	%
2006	369		73.2	%	4.2	%	0.0	%	2.9	%
2007	1,134		91.2	%	9.2	%	0.0	%	1.7	%
2008	—		N/A		N/A		N/A		N/A
	$	1,697	85.8	%	7.5	%	0.004	%	1.9	%

U.S. Prime CES

Year issued:	Net Par Outstanding		Pool Factor(2)		Subordination (3)		Cumulative Losses (4)		60+ Day Delinquencies (5)
2005	$	—	N/A		N/A		N/A		N/A
2006	—		N/A		N/A		N/A		N/A
2007	466		82.9	%	32.9	%	10.6	%	12.8	%
2008	—		N/A		N/A		N/A		N/A
	$	466	82.9	%	32.9	%	10.6	%	12.8	%

U.S. Prime HELOC

Year issued:	Net Par Outstanding		Pool Factor(2)		Subordination (3)		Cumulative Losses (4)		60+ Day Delinquencies (5)
2005	$	706	39.1	%	0.6	%	6.3	%	12.9	%
2006	—		N/A		N/A		N/A		N/A
2007	710		79.7	%	0.0	%	6.2	%	8.2	%
2008	—		N/A		N/A		N/A		N/A
	$	1,416	59.4	%	0.3	%	6.2	%	10.5	%

U.S. Alt-A First Lien

Year issued:	Net Par Outstanding		Pool Factor(2)		Subordination (3)		Cumulative Losses (4)		60+ Day Delinquencies (5)
2005	$	557	57.6	%	13.4	%	0.3	%	8.2	%
2006	634		75.1	%	31.6	%	0.4	%	18.6	%
2007	6,603		83.5	%	20.5	%	0.2	%	11.1	%
2008	—		N/A		N/A		N/A		N/A
	$	7,794	81.0	%	20.9	%	0.2	%	11.5	%

U.S. Subprime First Lien

Year issued:	Net Par Outstanding		Pool Factor(2)		Subordination (3)		Cumulative Losses (4)		60+ Day Delinquencies (5)
2005	$	3,723	39.3	%	59.9	%	3.2	%	40.9	%
2006	1,900		57.4	%	41.3	%	3.8	%	39.0	%
2007	550		63.1	%	41.5	%	4.0	%	40.0	%
2008	—		N/A		N/A		N/A		N/A
	$	6,174	47.0	%	52.5	%	3.4	%	40.2	%

U.S. CMBS

Year issued:	Net Par Outstanding		Pool Factor(2)		Subordination (3)		Cumulative Losses (4)		60+ Day Delinquencies (5)
2005	$	3,429	97.2	%	28.8	%	0.0	%	0.1	%
2006	1,418		98.6	%	30.5	%	0.0	%	0.1	%
2007	554		92.9	%	19.2	%	0.0	%	0.9	%
2008	—		N/A		N/A		N/A		N/A
	$	5,401	97.2	%	28.3	%	0.0	%	0.1	%

1. For this release, net par outstanding is based on values as of June 2008. Pool factor, subordination, cumulative losses and delinquency data is based on June 2008 information obtained from Intex, Bloomberg, and/or provided by the trustee and may be subject to restatement or correction.

2. Pool factor is the percentage of net par outstanding divided by the original net par outstanding of the transactions at inception.

3. Represents the sum of subordinate tranches and over-collateralization and does not include any benefit from excess interest collections that may be used to absorb losses.

4. Cumulative losses are defined as net charge-offs on the underlying loan collateral divided by the original pool balance.

5. 60+ day delinquencies are defined as loans that are greater than 60 days delinquent and also includes all loans that are in foreclosure, bankruptcy or REO divided by net par outstanding.

Assured Guaranty Ltd.

Credit Derivative Exposure Profile

(dollars in millions)

Financial Guaranty Direct Distribution of Credit Derivative Exposure by Rating

	June 30, 2008				December 31, 2007
	Net Par				Net Par
Ratings (1):	Outstanding		%		Outstanding		%
Super senior	$	40,880	53.0	%	$	34,328	49.1	%
AAA	29,144		37.8	%	33,318		47.6	%
AA	4,567		5.9	%	1,796		2.6	%
A	1,732		2.2	%	101		0.1	%
BBB	765		1.0	%	368		0.5	%
Below investment grade	100		0.1	%	26		—
Total exposures	$	77,186	100.0	%	$	69,936	100.0	%

Financial Guaranty Direct Distribution of Credit Derivative Exposure by Sector and Average Rating

	June 30, 2008			December 31, 2007
Sector:	Net Par Outstanding		Average Rating (1)	Net Par Outstanding		Average Rating (1)
U.S. public finance
General obligation	$	429	AAA	$	431	AAA
Tax backed	69		BBB+	70		AAA
Investor-owned utilities	39		AAA	39		AAA
Municipal utilities	26		AAA	26		AAA
Total U.S. public finance	$	562	AA+	$	565	AAA

U.S. structured finance
Pooled corporate obligations	$	29,396	AAA	$	28,229	AAA
Prime mortgage-backed and home equity	7,412		AAA	4,901		AAA
Subprime mortgage-backed and home equity	5,759		AA+	5,843		AAA
Commercial mortgage-backed securities	5,381		AAA	5,391		AAA
Commercial receivables	1,625		AA+	1,584		AAA
Consumer receivables	645		AAA	695		AA+
Structured credit	352		AA+	346		AAA
Insurance securitizations	100		AA	108		AAA
Other structured finance	49		AA	643		AAA
Total U.S. structured finance	$	50,719	AAA	$	47,740	AAA

International
Mortgage-backed and home equity	$	9,086	AAA	$	6,032	AAA
Pooled corporate obligations	8,056		AAA	6,984		AAA
Infrastructure and pooled Infrastructure	6,390		AAA	6,404		AAA
Regulated utilities	786		AA-	462		AAA
Commercial mortgage-backed securities	644		AAA	832		AAA
Future flow	153		A-	173		A+
Insurance securitizations	41		BB	41		BBB-
Public finance	8		AAA	9		AAA
Commercial receivables	—		—	—		—
Consumer receivables	—		—	—		—
Structured credit	—		—	—		—
Other international structured finance	741		AAA	695		AAA
Total international	$	25,905	AAA	$	21,631	AAA

Total exposures	$	77,186	AAA	$	69,936	AAA

(1) Assured’s internal rating. Assured’s scale is comparable to that of the nationally recognized rating agencies. The super senior category, which is not generally used by rating agencies, is used by the Company in instances where Assured’s AAA-rated exposure has additional credit enhancement due to either (1) the existence of another security rated AAA that is subordinated to Assured’s exposure or (2) Assured’s exposure benefits from a different form of credit enhancement that would pay any claims first in the event that any of the exposures incurs a loss, and such credit enhancement, in management’s opinion, causes Assured’s attachment point to be materially above the AAA attachment point.

Please refer to Glossary for description of selected types of U.S. public finance, U.S. structured finance and International obligations that the Company insures and reinsures.

Assured Guaranty Ltd.

CDOs of ABS Profile

(dollars in millions)

Financial Guaranty Direct Collateralized Debt Obligations of Asset-Backed Securities (CDOs of ABS)(1) Net Par Outstanding by Type of CDO, by Year Insured and by Collateral:


				Type of Collateral as a Percent of Total Pool														Ratings as of June 30, 2008
Year Insured	Legal Final Maturity(2)	Net Par Outstanding		ABS		RMBS (Includes Subprime)		Comm. MBS (CMBS)(3)		CDOs of Investment Grade Corporate		CDOs of ABS		Total Collateral Pool		U.S. Subprime RMBS		S&P	Moody’s	Original AAA Sub- ordination		Original Sub- ordination Below Assured		Current Sub- ordination Below Assured

CDOs of Mezzanine ABS(3):
2001	2017	$	113.6	0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	25.1	%	25.1	%	30.3	%
2001	2016	59.8		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	28.1	%	28.1	%	40.1	%
2002	2017	124.9		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	24.6	%	24.6	%	34.9	%
2002	2017	107.1		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	22.1	%	22.1	%	28.6	%
2002	2017	88.7		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	35.0	%	35.0	%	48.0	%
2002	2017	71.2		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	24.0	%	24.0	%	32.2	%
2003	2018	124.1		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	20.0	%	20.0	%	25.1	%
2003	2038	75.7		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	23.0	%	38.0	%	47.6	%
2003	2018	49.9		0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	63.0	%	63.0	%	66.3	%
	Subtotal:	$	815.0	0	%	0	%	100	%	0	%	0	%	100	%	0	%	AAA	Aaa	27.2	%	28.6	%	36.6	%

CDOs of High Grade ABS(4):
No CDO of ABS business written

CDOs of Pooled AAA ABS(5):

2003	2010	741.1		35	%	34	%	26	%	5	%	0	%	100	%	0	%	AAA	Aaa	0.0	%	12.5	%	12.5	%
	Subtotal:	$	741.1	35	%	34	%	26	%	5	%	0	%	100	%	0	%	AAA	Aaa	0.0	%	12.5	%	12.5	%

	Total:	$	1,556.0	17	%	16	%	65	%	2	%	0	%	100	%	0	%	AAA	Aaa	14.2	%	20.9	%	25.1	%

(1) A “CDO of ABS” is a collateralized debt obligation (CDO) transaction whose collateral pool consists primarily of asset-backed securities (ABS), including mortgage-backed securities (MBS). ABS transactions securities generally represent an ownership interest in a trust that contains collateral supporting the notes. Those interests are divided into several tranches that can have varying levels of subordination, credit protection triggers and credit ratings.

(2) “Legal Final Maturity” represents the final date for payment specified in the transaction documents and does not take into account prepayments that shorten the expected maturity and weighted average life.

(3) “CDOs of Mezzanine ABS” is a market term that refers to transactions where the underlying collateral at issuance is comprised primarily of mezzanine tranches rated BBB or lower. The collateral underlying Assured’s exposure to CDOs of Mezzanine ABS is comprised of mezzanine tranches of CMBS transactions and senior unsecured debt issued by commercial property REITs. The transactions to which Assured has exposure are static pools rather than actively managed transactions, and the collateral in these static pools was originated primarily in the period from 1997-2003. The collateral underlying Assured’s exposure to CDOs of Mezzanine ABS had weighted average ratings, based on rating information as of June 30, 2008, as follows: 18% AAA, 7% AA, 12% A, 45% BBB and 18% below investment grade (BIG).

(4) “CDOs of High Grade ABS” is a market term that refers to transactions where the underlying collateral at issuance is comprised of mezzanine tranches rated single-A or higher.

(5) “CDOs of Pooled AAA ABS” is a market term that refers to transactions where the underlying collateral at issuance is comprised of the senior-most AAA rated securities. Assured’s exposure to CDOs of Pooled AAA ABS was rated, based on rating information as of June 30, 2008: 100% AAA.

Assured Guaranty Ltd.

Non-Investment Grade Exposures

As of June 30, 2008

(dollars in millions)

	Weighted Average	Net Par		Average
Non-Investment Grade Exposures by Asset Type:	Remaining Life	Outstanding		Rating (1)

U.S. public finance
Municipal utilities	27.0	$	571	CCC
Healthcare	16.2	112		BB-
Tax backed	16.0	43		BB
General obligation	9.1	25		BB
Transportation	15.3	24		C
Housing	13.9	4		B
Higher education	12.4	1		BB+
Investor-owned utilities	9.0	0		BB
Total U.S. public finance	23.8	$	780	CCC+

U.S. structured finance
Prime mortgage-backed and home equity	7.0	$	2,023	B
Subprime mortgage-backed and home equity	10.1	190		B
Commercial receivables	12.5	20		B
Pooled corporate obligations	2.6	18		B-
Other structured finance	16.5	17		B
Total U.S. structured finance	7.3	$	2,268	B

International
Insurance securitizations	12.3	$	923	BB
Infrastructure and pooled infrastructure	10.1	88		B
Total international	12.1	$	1,011	BB

Total non-investment grade exposures	11.7	4,060		B

Top Ten Non-Investment Grade Exposures as of June 30, 2008

Name or Description	Segment	Weighted Average Remaining Life	Net Par Outstanding		Average Rating (1)
CWHEQ Revolving Home Equity Loan Trust 2007-D	Direct	6.4	$	679	BB
Countrywide Home Equity Loan Trust 2005-J Class 1 & 2	Direct	5.4	608		B
Jefferson County Alabama Sewer	Reinsurance	27.3	560		CCC
Ballantyne Re PLC Class A-2 Floating Rate Notes	Direct	13.8	500		BB
Orkney Re II, PLC	Direct	10.6	423		BB
SACO I Trust 2005-GP1	Direct	2.8	98		CCC
American Home Mortgage Assets Trust 2007-3	Direct	2.8	97		CCC
Morgan Stanley Mortgage Loan Trust 2006-5AR	Direct	5.1	93		BB
Trover Clinic Foundation	Direct	18.9	77		BB
Domestic Residential Mortgage-backed HELOC transaction	Reinsurance	6.0	73		CCC
Total		11.6	$	3,209	B+

(1). Assured’s internal rating. Assured’s scale is comparable to that of the nationally recognized rating agencies. The super senior category, which is not generally used by rating agencies, is used by the Company in instances where Assured’s AAA-rated exposure has additional credit enhancement due to either (1) the existence of another security rated AAA that is subordinated to Assured’s exposure or (2) Assured’s exposure benefits from a different form of credit enhancement that would pay any claims first in the event that any of the exposures incurs a loss, and such credit enhancement, in management’s opinion, causes Assured’s attachment point to be materially above the AAA attachment point.

Please refer to Glossary for description of selected types of U.S. public finance, U.S. structured finance and International obligations that the Company insures and reinsures.

Assured Guaranty Ltd.

Closely Monitored Credits (“CMC”)

(dollars in millions)

Net Par Outstanding by Credit Monitoring Category (1)

	June 30, 2008
Description:	Net Par Outstanding		%		Number of Credits in Category
Fundamentally sound risk	$	226,254	98.2	%

Closely monitored credits:
Category 1	1,460		0.6	%	32
Category 2	1,972		0.9	%	18
Category 3	661		0.3	%	41
Category 4	20		—		16
CMC Total	4,114		1.8	%	107

Other below investment grade risk	34		—		52
Total	$	230,402	100.0	%

	December 31, 2007
Description:	Net Par Outstanding		%		Number of Credits in Category
Fundamentally sound risk	$	198,133	98.9	%

Closely monitored credits:
Category 1	1,288		0.6	%	36
Category 2	743		0.4	%	12
Category 3	71		—		16
Category 4	24		—		16
CMC Total	2,126		1.1	%	80

Other below investment grade risk	20		—		46
Total	$	200,279	100.0	%

(1). Assured’s surveillance department is responsible for monitoring the Company’s portfolio of credits and maintains a list of closely monitored credits. The closely monitored credits are divided into four categories: Category 1 (low priority; fundamentally sound, greater than normal risk); Category 2 (medium priority; weakening credit profile, may result in loss); Category 3 (high priority; claim/default probable, case reserve established); Category 4 (claim paid, case reserve established for future payments). The closely monitored credits include all below investment grade (BIG) exposures where there is a material amount of exposure (generally greater than $10.0 million) or a material risk of the Company incurring a loss greater than $0.5 million. The closely monitored credits also include investment grade (IG) risks where credit quality is deteriorating and where, in the view of the Company, there is significant potential that the risk quality will fall below investment grade.

Assured Guaranty Ltd.

Largest Exposures by Sector (Part 1 of 4)

As of June 30, 2008

(dollars in millions)

25 Largest U.S. Public Finance Exposures

	Net Par
Credit Name:	Outstanding		Rating(1)
State of California General Obligation & Leases	$	1,568	A+
State of New Jersey General Obligation & Leases	1,183		AA-
New York City General Obligation & Leases	1,099		A+
City of Chicago General Obligation & Leases	996		AA-
Los Angeles Unified School District	906		AA
State of New York General Obligation & Leases	857		A+
San Francisco Airport Commission	847		A
State of Washington General Obligation	836		AA
Denver International Airport System	795		BBB-
Commonwealth of Puerto Rico General Obligation & Leases	794		BBB-
Commonwealth of Massachusetts General Obligation & Bay Transportation	793		A
Miami-Dade County Florida Aviation Authority	769		A
Florida State General Obligation	680		AA
Port Authority of New York & New Jersey	651		AA-
Metropolitan Transportation Authority (New York) - Transportation Revenue	651		A
District of Columbia General Obligation	635		A
Puerto Rico Highway & Transportation Authority	628		BBB
Michigan State General Obligation	626		AA+
Hawaii State General Obligation	621		AA-
Long Island Power Authority	609		A-
Pennsylvania State Turnpike Commission	608		A+
New York City Municipal Water Finance Authority	586		AA
Jefferson County, Alabama Sewer Enterprise	560		CCC
Miami-Dade County School Board	548		A
Chicago Public Building Commission - Chicago Board of Education	533		A
Total top 25 U.S. public finance exposures	$	19,380

10 Largest Healthcare Exposures

	Net Par
Credit Name:	Outstanding		Rating(1)	State
Iowa Health System	$	418	AA-	IA
Methodist Health System	305		A-	TN
Essentia Health	262		A-	MN
Integris Health, Inc.	258		AA	OK
Catholic Healthcare West	235		A	CA
Children’s Memorial Hospital	215		A-	IL
Meridian Health System Obligated Group	213		A-	NJ
Hackensack Medical Center	207		A-	NJ
Lifebridge Health	207		A	MD
Centracare Health System	196		A	MN
Total top 10 healthcare exposures	$	2,514

Assured Guaranty Ltd.

Largest Exposures by Sector (Part 2 of 4)

As of June 30, 2008

(dollars in millions)

50 Largest U.S. Structured Finance Exposures

	Net Par
Credit Name:	Outstanding		Rating(1)
Deutsche Alt-A Securities Mortgage Loan 2007-2	$	1,071	AAA
Discover Card Master Trust I Series A	1,000		AAA / Super senior
Private - CDO	998		AAA
Field Point III & IV, Limited	810		AA-
Prospect Funding I LLC	775		AAA
Goldentree Credit Opportunities Financing I	764		AAA
Ares Enhanced Credit Opportunities Fund	750		AAA
Private - CDO	716		AAA
Chrysler Retail Auto Loan Receivables Class-A	704		A
MortgageIt Securities Corp. Mortgage Loan 2007-2	696		AAA / Super senior
CWHEQ Revolving Home Equity Loan Trust 2007-D	679		BB
Field Point I & II, Limited	672		AA-
Private RMBS Re-Remic	668		AAA / Super senior
Private - CDO	660		AAA
Applebee’s Enterprises LLC	645		BBB-
Private RMBS Re-Remic	623		AAA / Super senior
Sandelman Finance 2006-1 Limited	623		AA
Citibank Omni Master Trust	614		AAA / Super senior
Countrywide Home Equity Loan Trust 2005-J Class 1 & 2	608		B
Private RMBS Re-Remic	607		AAA / Super senior
Private RMBS Re-Remic	604		AAA / Super senior
Private Structured Credit	600		BBB+
Private - CDO	551		AAA / Super senior
Chrysler Retail Auto Loan Receivables Class A	550		AAA
Deutsche Alt-A Securities Mortgage Loan 2007-3	535		AAA / Super senior
Liberty CLO Ltd	530		AAA / Super senior
Aaa Trust 2007-2	506		AAA / Super senior
Private RMBS Transaction	497		A-
LIICA Holdings, LLC	495		AA
Private RMBS Re-Remic	486		AAA / Super senior
Private - CDO	486		AAA
Impac CMB Trust Series 2007-A	451		A+
SLM Private Credit Student Loan Trust 2007	450		AAA
Synthetic CDO - IG Corporate	438		AAA / Super senior
Synthetic CDO - IG Corporate	438		AAA / Super senior
Synthetic CDO - IG Corporate	438		AAA / Super senior
McDonnell Loan Opportunity Fund II	400		AAA
Private RMBS Re-Remic	400		AAA / Super senior
SLM Student Loan Trust 2007	392		AAA
Wasatch CLO, Ltd.	389		AAA
Daimler Chrysler 2007-A Lease Trust	387		AAA
Newstar Credit Opportunities Funding II	380		AA
Southfork CLO Ltd. Series 2005-A1 Class A1G	380		AAA / Super senior
Cent CDO XI Limited	373		AAA
SLM Private Credit Student Loan Trust 2006	356		AAA
ACS 2007-1 Pass Through Trust G-1	355		A
Private - CDO	338		AAA / Super senior
Synthetic CDO - IG Corporate	335		AAA / Super senior
United Commercial Mortgage Securities 2007-1	328		A
Comstock Funding Ltd	326		AAA
Total top 50 U.S. structured finance exposures	$	27,876

Assured Guaranty Ltd.

Largest Exposures by Sector (Part 3 of 4)

As of June 30, 2008

(dollars in millions)

25 Largest International Exposures

	Net Par
Credit Name:	Outstanding		Rating(1)
Prime European RMBS	$	1,591	AAA / Super senior
Permanent Master Issuer PLC	1,453		AAA
Arkle Master Issuer PLC	1,450		AAA
Gracechurch Mortgage Financing PLC	1,447		AAA
Granite Master Issuer PLC	1,255		AAA
Graphite Mortgages PLC Provide Graphite 2005-2	1,235		AAA / Super senior
Essential Public Infrastructure Capital II	1,139		AAA / Super senior
Essential Public Infrastructure Capital III	1,115		AAA / Super senior
International Infrastructure Pool	844		AAA / Super senior
International Infrastructure Pool	844		AAA / Super senior
International Infrastructure Pool	844		AAA / Super senior
Taberna Europe CDO II PLC	803		AAA / Super senior
Paragon Mortgages (No.13) PLC	768		AAA
Synthetic CDO - IG ABS	741		AAA / Super senior
Stichting Profile Securitisation I	675		AAA / Super senior
United Utilities Water PLC	674		A
Global Senior Loan Index Fund 1 B.V.	605		AAA / Super senior
Nemus Funding No.1 PLC	603		AAA / Super senior
National Grid Gas PLC	598		A
Harvest CLO III	543		AAA
Northumbrian Water PLC	542		BBB+
National Grid Electricity Transmission PLC	539		A
Taberna Europe CDO I PLC	506		AAA / Super senior
Ballantyne Re Plc Class A-2 Floating Rate Notes	500		BB
RMF Euro CDO V PLC	498		AAA
Total top 25 international exposures	$	21,812

Servicer:	Net Par Outstanding
Countrywide Home Loans, Inc.	$	4,670
Residential Funding Corporation	2,966
Northern Rock PLC	2,489
Wells Fargo Home Mortgage, Inc.	2,486
European Mortgage Servicer (Private Transaction)	1,591
Halifax PLC	1,458
Cheltenham & Gloucester PLC	1,450
Barclays Bank PLC	1,447
EMC Mortgage Corp	784
Paragon Finance PLC	768
Total top 10 residential mortgage servicers exposures	$	20,109

	Contacts:

	Equity Investors and Media
	Sabra Purtill
	Managing Director, Global Communications
	and Investor Relations
	(212) 408-6044
	spurtill@assuredguaranty.com

	Ross Aron
	Associate, Investor Relations
	(212) 261-5509
	raron@assuredguaranty.com

Assured Guaranty Ltd.	Fixed Income Investors
30 Woodbourne Avenue	Michael Walker
Hamilton HM 08	Director, Fixed Income Investor Relations
Bermuda	(212) 261-5575
www.assuredguaranty.com	mwalker@assuredguaranty.com

	Media
	Ashweeta Durani
	Vice President, Global Communications
	and Media Relations
	(212) 408-6042
	adurani@assuredguaranty.com

Table of Contents		Page
Assured Guaranty Ltd.
Financial Guaranty Profile		1-2
Pooled Corporate Profile		3
Residential Mortgage-Backed Securities Profile		4-7
Credit Derivative Exposures Profile		8
CDOs of ABS Profile		9
Non-Investment Grade Exposures		10
Closely Monitored Credits		11
Largest Exposures by Sector		12-15
Glossary