The following is a summary of MBIA Corp.’s insured portfolio economic loss (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) activity in the third quarter:

                                     
3Q 2013 Economic Loss (Benefit) Activity                        
 
($ in millions)     Second-Lien RMBS    

First-Lien RMBS
    ABS CDO     CMBS     Other     Total
Change in Expected Payments $(8)

$14
$(10) $90 $7 $93
Change in Expected Salvage     61    

(6)
    (2)     8     9     70
Total Economic Losses (Benefit)     $53    

$8
    $(12)     $98     $16     $163

Losses, credit impairments and loss-related expenses on insured exposures totaled $163 million in the third quarter of 2013, compared with $252 million in the third quarter of 2012.

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