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TWO MBIA SENIOR VICE PRESIDENTS, NEIL G. BUDNICK AND WILLIAM P. CONDON, NAMED TO NEW POSITIONS

 ARMONK, N.Y., Sept. 14 /PRNewswire/ -- MBIA Corporation, the nation's leading insurer of municipal bonds, announced today that two senior vice presidents have been named to new positions. Neil G. Budnick has been appointed assistant to the president of MBIA, and William P. Condon has been named director of research for its Research and Business Development Division.
 In the newly created position, Mr. Budnick will join MBIA's Corporate Marketing and Business Strategy Committee. He will also be a member of MBIA's Credit Policy Committee and retain his membership on the European Underwriting Committee and the boards of MBIA Corporation and MBIA Municipal Investors Service Corp., which provides investment management to states, municipalities and school districts. Mr. Budnick will report to David H. Elliott, president and chief executive officer of MBIA.
 As director of research for the Research and Business Development Division, Mr. Condon is responsible for the municipal bond credit analysis of the company's five new-issue product departments. In addition to continuing his responsibilities as director of the Health Care, Special Revenue and Corporate Utility Departments, he assumes Mr. Budnick's supervisory role as head of the Tax-Backed and Utilities Departments. Mr. Condon will continue to report to Robert R. Godfrey, executive vice president of MBIA's Research and Business Development Division.
 Mr. Budnick has more than 15 years of experience in public finance and the financial guarantee industry. In 1984 he joined the managing agency of the Municipal Bond Insurance Association, the predecessor to MBIA Corporation. Elected vice president in 1985 and named senior vice president in 1987, Mr. Budnick was elected to the board of directors of MBIA Corporation in 1989. Prior to joining MBIA, he was with Standard and Poor's Corporation where he was managing vice president in the Public Finance Department. A graduate of Boston College, Mr. Budnick received his master's degree in public administration and finance from the University of Colorado.
 Mr. Condon has more than 27 years of experience in municipal and corporate securities analysis. In l983 he joined MBIA's managing agency as vice president and manager of the Health Care Department. Mr. Condon was elected senior vice president in l985. He is a member of the Credit Policy Committee and a director of MBIA Corporation. Prior to joining MBIA he was with Standard & Poor's Corporation for 17 years, where he held senior positions in equity analysis and municipal finance. A graduate of St. Peter's College, Mr. Condon is a member of the Municipal Analysts Group of New York and the New York Society of Securities Analysts.
 MBIA Inc. (NYSE: MBI), through its wholly owned subsidiary, MBIA Corporation, is the leading insurer of municipal bonds, including new issues and bonds traded in the secondary market. The company also guarantees asset-backed transactions and high quality obligations offered by qualified financial institutions and provides investment management services for school districts and municipalities. MBIA Corporation has a claims-paying rating of Triple-A from Moody's Investors Service and Standard & Poor's Corporation and all municipal bonds insured by MBIA receive these ratings.
 -0- 9/14/93
 /CONTACT: Michael C. Ballinger of MBIA Corporation, 914-765-3893/
 (MBI)


CO: MBIA Corporation ST: New York IN: FIN SU: PER

TW -- NY045 -- 1751 09/14/93 12:03 EDT
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Publication:PR Newswire
Date:Sep 14, 1993
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