Exhibit 99.1

        C. Edward Chaplin to Become Chief Financial Officer of MBIA;
Outside Director and Treasurer of Prudential Financial To Assume Role June 26

    ARMONK, N.Y.--(BUSINESS WIRE)--May 30, 2006--MBIA Inc. (NYSE:MBI)
today announced that C. Edward "Chuck" Chaplin, senior vice president
and treasurer of Prudential Financial Inc., and a member of MBIA
Inc.'s Board of Directors since 2002, will join MBIA as chief
financial officer, vice chairman of MBIA Insurance Corporation and a
member of the Executive Policy Committee, effective June 26. In
connection with his becoming CFO, Mr. Chaplin has resigned as a
director of MBIA Inc.
    Nicholas Ferreri, MBIA's current chief financial officer, is
leaving the Company for personal reasons but will stay on to assist in
the transition. Mr. Ferreri's departure is unrelated to the ongoing
regulatory investigations of the Company.
    Gary Dunton, MBIA chief executive officer, said, "Chuck has been
an important contributor to our Board, and he brings significant
financial industry experience and expertise to this leadership
position. We thank Nick for his contributions to MBIA over the past
nine years, and wish him well in his future endeavors."
    Mr. Chaplin is a Chartered Financial Analyst who has been with
Prudential since 1983 and is currently responsible for capital and
liquidity management, corporate finance, and banking and cash
management. He is a member of Prudential's Financial Controls
Committee, a management group supervising capital commitments, balance
sheet and legal entity structure, and a member of the Investment
Oversight Committee of Prudential's employee benefit plans.
    Mr. Chaplin is a member of the Board of Overseers of Rutgers
University and of the Executive Leadership Council, a business group
promoting workplace diversity. He holds a B.A. degree from Rutgers
College and an M.A. degree from Harvard University.

    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