First Marblehead to Release Fiscal 2006 Third Quarter Financial Results, Host Conference Call on April 27, 2006.

BOSTON -- The First Marblehead Corporation (NYSE: FMD) today announced that it will release its fiscal third quarter financial results after the close of the market on Thursday, April 27, 2006.

In conjunction with the release of financial results, the Company will host a conference call that day at 5 p.m. EDT, which will be simultaneously broadcast live over the Internet. Peter B. Tarr, Chairman and General Counsel; Jack L. Kopnisky, President, CEO and COO; and Donald R. Peck, Executive Vice President and CFO, will host the call. To access the webcast, please log on to: www.firstmarblehead.com.

A replay will be available on First Marblehead's website for 14 days. A telephone replay will also be available for 14 days by dialing [phone] from the U.S., or [phone] for international callers, and entering the pass code 32077902.

About The First Marblehead Corporation

First Marblehead provides outsourcing services for private, non-governmental, education lending in the United States. The Company helps meet the growing demand for private education loans by providing national and regional financial institutions and educational institutions, as well as businesses and other enterprises, with an integrated suite of design, implementation and securitization services for student loan programs tailored to meet the needs of their respective customers, students, employees and members.

This is a "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based upon the Company's current plans and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans or expectations contemplated by us will be achieved. These forward-looking statements represent First Marblehead's expectations as of April 24, 2006. Subsequent events may cause our expectations to change, and we disclaim any obligation to update the forward-looking statements in the future. You are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, regulatory and competitive and other factors that may cause First Marblehead's performance, level of services or achievements to be materially different than those expressed or implied by forward-looking statements. Important factors that could cause First Marblehead's actual results to differ from its expectations include our success in structuring securitizations, the timing of our securitization activities and the factors set forth under the caption "Item 1A - Risk Factors" in First Marblehead's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on February 8, 2006. These risks could cause actual results of the industry or our actual results for fiscal year 2006 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company.