Exhibit 99.1

     MBIA Receives Document Subpoenas Regarding `Non-Traditional Products'

     ARMONK, N.Y.--(BUSINESS WIRE)--Nov. 18, 2004--MBIA Inc. (NYSE:MBI)
announced that it received identical document subpoenas today from the
Securities and Exchange Commission and the New York Attorney General's office
requesting information with respect to non-traditional or loss mitigation
insurance products developed, offered or sold by MBIA to third parties from
January 1, 1998 to the present.
     The subpoenas do not identify any specific transaction, and MBIA believes
the subpoenas were issued in connection with an industry-wide investigation of
non-traditional insurance products. MBIA intends to cooperate fully with the
Securities and Exchange Commission and the New York Attorney General's request
for documents.

     MBIA Inc., through its subsidiaries, is a leading financial guarantor and
provider of specialized financial services. MBIA's innovative and cost-effective
products and services meet the credit enhancement, financial and investment
needs of its public and private sector clients, domestically and
internationally. MBIA Inc.'s principal operating subsidiary, MBIA Insurance
Corporation, has a financial strength rating of Triple-A from Moody's Investors
Service, Standard & Poor's Ratings Services, Fitch Ratings, and Rating and
Investment Information, Inc. Please visit MBIA's Web site at
http://www.mbia.com.

     CONTACT: MBIA Inc.
              Michael Ballinger, 914-765-3893