Exhibit 99.1

         Jeffery W. Yabuki Elected to MBIA Board of Directors

    ARMONK, N.Y.--(BUSINESS WIRE)--Aug. 11, 2005--MBIA Inc. (NYSE:MBI)
announced today that Jeffery W. Yabuki, executive vice president and
chief operating officer of H&R Block Inc., was elected to MBIA's Board
of Directors. Mr. Yabuki has oversight responsibility for H&R Block's
global tax business units, its financial services businesses, and
digital products and services. In addition, he oversees several H&R
Block corporate functions including information technology, marketing,
compliance, and corporate development.
    Recognized for his strategic leadership, Mr. Yabuki has
spearheaded several key areas of differentiation for H&R Block
including the expansion of its integrated tax and financial services
strategy and the launch of H&R Block branded services to the digital
tax marketplace. He joined H&R Block as president of international
operations and was in that role from 1999 to 2001. Prior to joining
H&R Block Inc., Mr. Yabuki was with American Express from 1987 to 1999
in a variety of management roles, most recently as chief executive
officer of American Express Tax and Business Services.
    MBIA Board Member and Nominating/Corporate Governance Committee
Chairperson Claire Gaudiani said, "Jeff's distinguished career brings
experience and vision especially in the area of business expansion to
MBIA's Board of Directors. His diverse background in business
strategy, operations, sales, marketing, information systems and
accounting offers a unique set of talents and resources complementing
our strong board. We are proud to welcome him to MBIA."
    Mr. Yabuki has a Bachelor of Science degree in business
administration from California State University at Los Angeles and is
a certified public accountant. He holds CPA certificates in California
and Minnesota, a NASD Series 7 license, and is a past member of the
Minnesota Board of Accountancy. He also serves on the board of
directors of PetsMart, Inc., a specialty retailer of pet food and
supplies.
    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.
             Liz James, 914/765-3889