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MBIA PRESIDENT DAVID H. ELLIOTT BECOMES CHIEF EXECUTIVE OFFICER

 MBIA PRESIDENT DAVID H. ELLIOTT BECOMES CHIEF EXECUTIVE OFFICER
 ARMONK, N.Y., Jan. 6 /PRNewswire/ -- MBIA Inc., the nation's leading insurer of municipal securities, announced that David H. Elliott, president of MBIA Inc. and its operating subsidiary, MBIA Corporation, became chief executive officer on Jan. 1, 1992. Elliott succeeds William O. Bailey as chief executive officer. Bailey, who will continue as chairman of the board, served as chairman and chief executive officer of MBIA since 1986. Bailey is 65 years of age and Elliott is 50.
 With the formation of MBIA Inc. in 1986, Elliott was elected president and chief operating officer and later a director. Elliott served as chairman of the Municipal Bond Insurance Association, predecessor of MBIA Corporation, from 1976 to 1980 and 1984 to 1986. He was also chairman of the Association of Financial Guaranty Insurers from 1988 to 1990.
 Elliott began his insurance career with the Aetna Life and Casualty Company in 1969. He was appointed counsel of the law department in 1972 and assistant to the president in 1976. In 1979 Elliott was elected vice president of the public policy issues analysis department and named vice president of the financial guarantee department in 1983.
 A resident of South Salem, N.Y., he received his undergraduate degree from Yale University and earned his law degree from the Boston University Law School.
 MBIA Inc., through its wholly owned subsidiary, MBIA Corporation, is the leading insurer of municipal bonds, including new issues, bonds traded in the secondary market and those held in unit investment trusts and mutual funds. MBIA has a claims-paying rating of Triple-A by Moody's Investors Service, Inc., and by Standard & Poor's Corporation and municipal bonds insured by MBIA receive these ratings. MBIA Inc. common stock is listed on the New York Stock Exchange (symbol: MBI).
 -0- 1/6/91
 /CONTACT: Michael C. Ballinger of MBIA, 914-765-3893/
 (MBI) CO: MBIA Inc. ST: New York IN: FIN SU: PER


KD -- NY039 -- 6906 01/06/92 12:18 EST
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Date:Jan 6, 1992
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