Exhibit 99.1

              MBIA Receives Additional Document Subpoena
                Regarding AHERF Reinsurance Agreements

    ARMONK, N.Y.--(BUSINESS WIRE)--March 9, 2005--MBIA Inc. (NYSE:
MBI) announced today that it had received a subpoena from the U.S.
Attorney's Office for the Southern District of New York seeking
information related to the reinsurance agreements it entered into in
connection with the loss it incurred in 1998 on bonds insured by MBIA
Insurance Corp. that were issued by Allegheny Health, Education and
Research Foundation (AHERF). These matters are currently under
investigation by the Securities and Exchange Commission and the New
York State Attorney General's Office, with which the Company has been
cooperating. The Company intends also to cooperate fully with the U.S.
Attorney's Office.

    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. MBIA has offices in London, Madrid,
Milan, New York, San Francisco, Singapore, Sydney and Tokyo. Please
visit MBIA's Web site at http://www.mbia.com.

    CONTACT: MBIA Inc.
             Elizabeth James, 914-765-3889