Moody's Corporation Acquires Wall Street Analytics.

NEW YORK -- Moody's Corporation (NYSE: MCO) announced today that it has acquired Wall Street Analytics, Inc., a leading developer of sophisticated structured finance analysis and monitoring software. The firm will now be known as Moody's Wall Street Analytics. Terms of the transaction will not be disclosed and the financial impact to Moody's is not expected to be material.

The acquisition will broaden Moody's capabilities in the analysis and monitoring of complex structured debt securities while increasing the firm's analytical and product development staff dedicated to creating new software and analytic tools for the structured finance market. In particular, the addition of Wall Street Analytics enhances Moody's current collateralized debt obligations (CDO) product suite and immediately adds mortgage-backed securities (MBS) and asset-backed securities (ABS) analytic software capabilities. The acquisition will also enable Wall Street Analytics to tap Moody's deep structured finance expertise, extensive CDO and MBS databases and global product marketing capabilities to enhance its offerings to existing customers and further expand its reach in the structured finance marketplace in the U.S. and internationally.

"The structured finance markets are growing rapidly worldwide, bringing a heightened demand for supporting research, data and analysis," said Raymond W. McDaniel, Jr., Chairman and Chief Executive Officer of Moody's Corporation. "Wall Street Analytics is an excellent addition that will help us meet the growing market demand for tools to analyze structured securities and accelerate our growth in this segment. This investment is also consistent with our strategy to invest in growth sectors that are highly complementary to our core businesses."

"Moody's is a global authority in analyzing and understanding credit risk in the structured finance market," said Jacob Grotta, Chief Operating Officer, Wall Street Analytics, Inc. "Combining Moody's structured finance expertise with our established analytic tools and software will benefit our current customers and help us expand our reach in this marketplace."

About Moody's Corporation

Moody's Corporation (NYSE: MCO) is the parent company of Moody's Investors Service, a leading provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets, Moody's KMV, a leading provider of credit risk processing and credit risk management products for banks and investors in credit-sensitive assets serving the world's largest financial institutions, and Moody's Economy.com, a provider of economic research and data services. The corporation, which reported revenue of $1.7 billion in 2005, employs approximately 3,000 people worldwide and maintains offices in 22 countries. Further information is available at www.moodys.com.

About Wall Street Analytics, Inc.

Wall Street Analytics is a leader in providing sophisticated software products and services to the structured finance markets. The company provides products and support to more than 100 clients around the world including leading asset management firms, investment banks, trustees, and institutional investors. Its CDOnet, CDOcalc, Structured Finance Workstation, Bond Administration Workstation, and ABScalc products are widely recognized for their unique abilities to support detailed analysis of the most sophisticated structured debt products including, collateralized debt obligations (CDOs), mortgage-backed securities (MBS) and asset-backed securities (ABS). Founded in 1987, the company serves the markets from its three main locations in New York, San Francisco and London. For more information please visit the company's website at www.wsainc.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody's business and operations that involve a number of risks and uncertainties. The forward-looking statements and other information are made as of December 18, 2006, and the Company disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors include, but are not limited to, changes in the volume of debt securities issued in domestic and/or global capital markets; changes in interest rates and other volatility in the financial markets; possible loss of market share through competition; introduction of competing products or technologies by other companies; pricing pressures from competitors and/or customers; the potential emergence of government-sponsored credit rating agencies; proposed U.S., foreign, state and local legislation and regulations, including those relating to Nationally Recognized Statistical Rating Organizations; possible judicial decisions in various jurisdictions regarding the status of and potential liabilities of rating agencies; the possible loss of key employees to investment or commercial banks or elsewhere and related compensation cost pressures; the outcome of any review by controlling tax authorities of the Company's global tax planning initiatives; the outcome of other legal actions to which the Company, from time to time, may be named as a party; a decline in the demand for credit risk management tools by financial institutions; and other risk factors as discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and in other filings made by the Company from time to time with the Securities and Exchange Commission.