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FGIC Announces NYSDFS Approval of CPP Upward Adjustment

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Financial Guaranty Insurance Company ("FGIC") today announced that it
had received notice from the New York State Department of Financial
Services (the "NYSDFS") that, pursuant to and in accordance with the
terms of the First Amended Plan of Rehabilitation for FGIC, dated June
4, 2013, the NYSDFS has approved an increase of the cash payment
percentage (CPP) of permitted policy claims that FGIC is required to pay
under such Plan from the current 33% to 38.5%, effective September 4,
2018. The 2018 Annual CPP Revaluation Notice, which is posted on the
Policyholder Information Center at www.fgic.com/policyholderinfocenter/,
provides additional information concerning the 2018 CPP Revaluation.

About FGIC

FGIC is a New York stock insurance corporation and a wholly owned
subsidiary of FGIC Corporation. FGIC emerged from rehabilitation on
August 19, 2013, and is responsible for administering its outstanding
insurance policies in accordance with the terms of the First Amended
Plan of Rehabilitation for FGIC, dated June 4, 2013. Please visit www.fgic.com.

FORWARD-LOOKING STATEMENTS

This notice contains "forward-looking statements" – that is, statements
related to possible future events. Forward-looking statements often
address expectations and beliefs as to future performance, results and
business plans. You should not place undue reliance on forward-looking
statements because they speak only as of the date they are made and are
necessarily subject to risks and uncertainties that could cause actual
results and performance to differ materially from those expressed or
implied by such forward-looking statements. Forward-looking statements
are based upon FGIC management's current expectations and beliefs
concerning future events. FGIC undertakes no obligation to update or
revise any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as required by law.

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