Assured Guaranty - UK - Ltd. Hires Ashley Blows as Head of Project Finance.

LONDON -- Assured Guaranty (UK) Ltd., a subsidiary of Assured Guaranty Ltd. (NYSE:AGO), is pleased to announce the hiring of Ashley Blows as Director of its Private Finance Initiative ("PFI")/Public Private Partnership ("PPP") lines of business.

Ashley Blows has worked for over 8 years at Dexia Public Finance Bank in London, where he launched, built and headed their highly successful London Project Finance Team, which focused particularly on the PFI/PPP market. Prior to Dexia, Ashley was at NatWest Markets in London, where he specialized in project advisory work in the PFI and PPP, transportation, water and power sectors.

In addition to his extensive experience in the PFI/PPP sectors dating back to the launch of the Private Finance Initiative by the UK government in 1992, Ashley is a member of the Steering Committee of the PPP Forum, an industry body representing private sector companies active in the PFI/PPP market. He is a graduate of the University of Sheffield.

Jack Lester, the managing director of Assured Guaranty (UK) Ltd., commented, "Ashley's hiring is an important step in our strategic plan to build Assured Guaranty (UK) Ltd. into a major force in the European monoline market. His experience in developing project finance teams, his broad-based and strong client relationships in the industry and his knowledge of immediate and critical issues facing financiers in the PFI/PPP sectors will help Assured Guaranty (UK) Ltd. become a leader in the international market."

Assured Guaranty (UK) Ltd. received authorization from the UK Financial Services Authority in July 2004 to write financial guaranty insurance and reinsurance in the United Kingdom. In addition to providing financial guaranty insurance in the United Kingdom, Assured Guaranty (UK) Ltd. also intends to apply for permission to write financial guaranty insurance and reinsurance in other European countries.

Assured Guaranty Ltd. is a Bermuda-based holding company. Its operating subsidiaries provide credit enhancement products to the U.S. and international project finance, municipal finance, structured finance and mortgage markets. As at June 30, 2004, Assured Guaranty Ltd. had consolidated GAAP equity of $1.4 billion and over $91 billion of in-force par insured. More information can be found at http://www.assuredguaranty.com.

Any forward-looking statements made in this press release reflect Assured Guaranty (UK) Ltd. and Assured Guaranty Ltd.'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 European and international markets could be affected by demand, competition and regulatory action. 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.