John S. Dubel is Vice-Chairman and Chief Executive Officer of FGIC. Mr. Dubel has served as a Director of FGIC since 2008, and is a member of the FGIC Board’s Restructuring Committee. Previously Mr. Dubel held the leadership responsibility for FGIC's Chief Risk Office, which consists of Credit Risk Management, the Special Exposure Group and Portfolio Risk Review. Mr. Dubel joined FGIC in January 2008. From 2006 through 2007, Mr. Dubel was a Managing Director of Gradient Partners, L.P., a single strategy distressed hedge fund. Before joining Gradient, from 2002 to 2006, Mr. Dubel was a Managing Director with AlixPartners, LLC, a firm specializing in turnaround and crisis management. While at AlixPartners, he served as Chief Restructuring Officer of Anchor Glass Container Corporation and Acterna Corporation, President and Chief Operating Officer at RCN Corporation, Chief Executive Officer of Cable & Wireless America, and CFO at WorldCom, Inc. Mr. Dubel received a Bachelor in Business Administration degree from the College of William and Mary.

Robert L. Friedman has served as a Director of FGIC since February 2009, and is a member of FGIC Board’s Audit and Restructuring Committees. Mr. Friedman is a Senior Managing Director of The Blackstone Group. On joining Blackstone in 1999, Mr. Friedman worked primarily in Blackstone's Private Equity group. He was the firm's Chief Legal Officer from January 2003 through August 2010 and was also the firm's Chief Administrative Officer during most of that period. Before joining Blackstone, Mr. Friedman had been a partner with Simpson Thacher & Bartlett for 25 years, where he was a senior member of that law firm's mergers and acquisitions practice. Mr. Friedman graduated from Columbia College and received a JD from the University of Pennsylvania Law School. He currently also serves as a Director of Axis Capital Holdings Limited, TRW Automotive Holdings Corp., Orbitz Worldwide, Inc. and The India Fund, Inc. Mr. Friedman is also a member of several charity and educational boards.

Daniel G. Helle, Partner. Mr. Helle has served as a Director of FGIC since 2003. Mr. Helle is a partner in the investment firm CIVC Partners, L.P. and shares overall strategic and operating responsibility for CIVC. Mr. Helle joined CIVC in 1989 and has served as a Partner since 1992. He is a director of Guardian Warranty Corporation, Innovative Aftermarket Systems, FGIC Corporation, Goldline International, Pacific Crest Securities, and Precision Camera & Video Repair, Inc. Before joining CIVC, he worked at Citicorp Leveraged Capital and at Continental Bank. Mr. Helle received a Bachelor of Science in Finance from Western Illinois University and a Master of Science in Finance from the University of Illinois.

Robert B. Holland, III has served as a Director of FGIC since May 2009, and is a member of the FGIC Board’s Compensation Committee. Mr. Holland is a Director and Co-Chairman of Max Petroleum, a London Stock Exchange listed (AIM) company engaged in oil exploration in Kazahkstan, and a Director of Pier 1 Imports, Inc., a New York Stock Exchange listed home furnishings retailer. From 2002 to 2006, Mr. Holland represented the United States on the Board of Executive Directors of the World Bank. Prior to 2002, Mr. Holland served in several executive capacities at Triton Energy Ltd., a New York Stock Exchange listed international exploration company sold in 2001 to Amerada Hess Corp., including CEO, COO and general counsel. Prior to joining Triton, Mr. Holland was a partner in the Texas law firm Jackson & Walker.

Jeffrey P. Hughes, has served as a Director of FGIC since 2003, and is the Chairman of the FGIC Board’s Compensation Committee and a member of the FGIC Board’s Audit and Restructuring Committee. Mr. Hughes has been Vice Chairman of Cypress Advisors, Inc. since 1994. He previously spent 26 years at Lehman Brothers as a senior investment banker and merchant banker, where his responsibilities included starting and managing Lehman’s private financing and financial institutions businesses. Mr. Hughes has been a director of many public and private companies over his business career.

Thomas C. Wajnert has served as a Director of FGIC since 2005, and is the Chairman of the FGIC Board as well as the Chairman of the FGIC Board’s Audit and Restructuring Committees and a member of FGIC’s Board Compensation Committee. Mr. Wajnert is the former Chairman and Chief Executive Officer of AT&T Capital Corporation. After joining AT&T in 1984, Mr. Wajnert founded AT&T Capital Corporation (NYSE) in 1985 and served as its Chairman and Chief Executive Officer until his retirement in 1998. From 1998 to 2001, Mr. Wajnert led a consulting practice and participated in the formation and management of companies in the human resources outsourcing and financial software markets. He co-founded FairView Advisors, an investment banking firm, in 2002 and retired in 2006. He has served as a strategic advisor to many large companies, including HSBC, CIT Group, UPS and American Express. He is currently a Senior Managing director and Principal of The Alta Group, a leading global consultancy to the equipment financing and leasing industry, and he serves as a director and Non-executive Chairman of Reynolds American, Inc (NYSE), and as a director of UDR (NYSE).