Build America Mutual Assurance Company (BAM or the Company), the first mutual municipal bond insurer, today announced that it has hired Jill Schmidt as Vice President, Public Finance, East Region. She joins BAM from Assured Guaranty, where she was a Vice President in Public Finance. She reports to Don Farrell, Head of BAM’s Eastern Regional Public Finance Group.

Mr. Farrell said: “We are looking forward to working with Jill. She brings extensive experience in credit underwriting across a variety of sectors, as well as a specialization in public power credits.”

“I am excited about this opportunity. I believe that BAM’s mutual business model brings many advantages to issuers and investors, and I am delighted to be a part of this new and improved kind of bond insurer.”

Ms. Schmidt joined Assured Guaranty in June of 2010 from Fitch, where she was a Director in the Global Power Group. Prior to that, she spent five years at FGIC, where she was a Vice President, Surveillance. Before that, she was a research analyst at Moody’s Investors Service, Inc.

She is a graduate of Clarkson University and holds a Master’s Degree in Business Administration from Baruch College. She is a member of the Municipal Analysts Group of New York, the National Federation of Municipal Analysts and Women in Public Finance.

About BAM

Domiciled in New York, BAM is a mutual monoline insurer of municipal bonds, exclusively. As a mutual bond insurance company, BAM is operated for the benefit of its members—the cities, states and other municipal entities—that use BAM’s financial guaranty to lower their cost of borrowing. BAM is rated AA/Stable by Standard & Poor’s Ratings Services and is sponsored by the National League of Cities.

For further information, please contact:

Betsy Castenir, Head of Corporate Communications, 212-257-6148