Exhibit 99.1

                 MBIA Document Subpoenas Supplemented

    ARMONK, N.Y.--(BUSINESS WIRE)--March 30, 2005--MBIA Inc. (NYSE:
MBI) announced that today it received additional requests from the New
York Attorney General's Office (NYAG) and the Securities and Exchange
Commission (SEC) that supplement the subpoenas it received in late
2004. The requests seek documents relating to the Company's accounting
treatment of advisory fees; its methodology for determining loss
reserves and case reserves; instances of purchase of credit default
protection on itself; and documents relating to Channel Reinsurance
Ltd., a reinsurance company of which MBIA is part owner. The requests
cover the period January 1, 2000 to the present. MBIA is cooperating
fully with the NYAG and the SEC.

    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.
             Michael Ballinger, 914-765-3893