Assured Guaranty Corp. Insures $165 Million Turkish Future Flow Securitization

Business Wire, Oct 13, 2005

NEW YORK -- Assured Guaranty Corp. (AGC), a subsidiary of Assured Guaranty Ltd. (NYSE:AGO), announced that it has issued a financial guaranty in connection with a $165 million diversified payment rights future flow securitization for Garanti Diversified Payment Rights Company, a subsidiary of Turkiye Garanti Bankasi A.S. (Garanti). Garanti is Turkey's third largest private sector bank in terms of net profits and asset size. The bank's shares are listed on the London and Istanbul stock markets.

Michael Schozer, President of Assured Guaranty Corp., said, "AGC was delighted to have been chosen by Garanti for this transaction. As a recent entrant into this market, we are especially pleased with the execution of the transaction at a coupon of LIBOR 25 bps p.a., close to the best executions of the strongest financial guarantors in the industry. We look forward to the opportunity to grow a mutually beneficial relationship with both Garanti and Standard Chartered Bank."

Tolga Egemen, Executive Vice President of Turkiye Garanti Bankasi A.S., said, "It gives us great pleasure to be the first institution chosen by AGC to do a primary market deal in Turkey, which underlines the name recognition of Garanti as a frequent issuer and the robust transaction structure. We were very impressed with the efficiency and cooperation AGC showed in this deal. As we continue to expand our securitization program, we look forward to working with AGC again."

The series 2005-D tranche, which was wrapped by AGC, was part of a $600 million transaction issued in five tranches and underwritten by Standard Chartered Bank. Noel Edison, Managing Director of the Asset Securitisation Group at Standard Chartered Bank, stated, "Our transaction received great interest from investors, which clearly demonstrates that investors welcomed our financing and the AGC guarantee."

Assured Guaranty Corp. is a leading provider of financial guaranty insurance in the U.S. and international public finance, structured finance and mortgage-backed securities markets. Assured Guaranty Corp.'s underwriting experience combined with its financial strength make it the innovative financial guaranty partner of choice for issuers, investors and broker/dealers.

Assured Guaranty Ltd. is a Bermuda-based holding company. Its operating subsidiaries provide credit enhancement products to the U.S. and international public finance, structured finance and mortgage markets. More information can be found at www.assuredguaranty.com.

Any forward-looking statements made in this press release reflect the Company's current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. For example, the forward-looking statements concerning potential business in the fixed income markets could be affected by demand and competition. The forward looking statements also could be affected by rating agency action such as a ratings downgrade, difficulties with the execution of the business strategy, developments in the world's financial and capital markets, more severe losses or more frequent losses associated with products affecting the adequacy of the company's loss reserve, changes in tax laws, loss of key personnel, changes in accounting policies or practices, and changes in general economic conditions, as well as management's response to these factors, and other risk factors identified in Assured Guaranty Ltd.'s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Assured Guaranty Ltd. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.