S&P Makes Key Appointments--Ratings Risk Manager, Chief Credit Officer, Chief Quality Officer

NEW YORK, NY, May 8, 2008--Standard & Poor's today announced a number of key executive appointments in the areas of risk oversight, criteria management and quality assurance.

Clifford Griep has been named Executive Managing Director, Ratings Risk Management; Mark Adelson (photo at left below) is joining S&P as Managing Director, Chief Credit Officer; and Neri Bukspan (photo at right below) is becoming Managing Director, Chief Quality Officer. All three executives will report to Vickie Tillman,(top right photo) Executive Vice President, Standard & Poor's Ratings Services.

"These appointments add strength and depth to S&P's ratings leadership and capabilities, and demonstrate S&P's commitment to serving the broad and growing needs of the global credit markets," said Ms. Tillman.

In his new role, Mr. Griep will identify, assess and mitigate potential internal and external risk exposures in our ratings business. Previously, Mr. Griep served as S&P's Chief Credit and Quality Officer.

To further strengthen the independence of Quality and Criteria governance, the roles have been split into two separate functions, both reporting to Vickie Tillman.

Mr. Adelson joins S&P from Adelson & Jacob Consulting, a firm that provides strategic consultation on securitization, real estate and investments. Prior to that, he was managing director and head of Structured Finance Research at Nomura Securities International.

Previously, Mr. Adelson was managing director, Residential Mortgage Finance, for Moody's Investors Service. He began his career as an attorney for the law firm of Thacher Proffitt & Wood.

Mr. Bukspan became S&P's Chief Accountant in 2002.

Analyst Contact:

Chris Atkins, New York

(1) 212-438-1106