Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Countrywide Financial Corp.

Attorney Advertising. Notice is hereby given that a class action has been commenced on behalf of an investor in the United States District Court for the Central District of California on behalf of a class (the "Class") of all persons who purchased or acquired the securities of Countrywide Financial Corp. ("Countrywide Financial" or the "Company") (NYSE: CFC) between October 24, 2006 and August 9,2007, inclusive (the "Class Period").

Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Countrywide Financial's stock through your Countrywide Financial retirement account and have information or would like to learn more about these claims, please contact us.

According to the complaint, during the Class Period, defendants made false and misleading statements regarding the changing quality of the Company's mortgage loan portfolio. As late as April of 2007, the Company stated that credit rating agency Moody's upgraded the rating of the Company's banking segment and announced that its home loans segment was also under review for possible upgrade. Then, on June 12, 2007, the Company boasted of its position as the number one mortgage originator in the United States. These reassuring announcements served to conceal the alarming growth of loan delinquencies and the increasing likelihood of impairment charges, with resulting adverse impacts on the quality of the Company's collateralized debt obligations (CDOs), earnings and profits.

On July 24, 2007, the Company finally announced the shocking news, of over $417 million in impairment charges and implementation of a $292.9 million loan loss provision. On the news, the price of Countrywide Financial stock tumbled 10.4%, closing at $30.50 per share. Following this, on August 9, 2007, within four days of reassuring statements that purported the reliability and availability of liquidity to meet short-term needs, the Company adopted a new risk disclosure, warning of short-term liquidity issues. As a result, on that day, the price of Countrywide Financial stock fell again, losing $1.00 or 3.4%, to close at $27.86 per share, on heavy volume of over 48.6 million shares.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Countrywide Financial securities during the Class Period. If you purchased or otherwise acquired Countrywide Financial securities during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Countrywide Financial's securities during the Class Period, you may request that the Court appoint you as lead plaintiff no later than October 15, 2007.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com , by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com .

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Contact: Tzivia Brody, Esq. Email Contact 1-800-337-4983 fax 212/490-2022 Stull, Stull & Brody 6 East 45th Street New York, NY 10017