ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Friday, March 27, 2009

For More Information, Please Contact:

Cesaltine Gregorio, ISDA New York, +1 212-901-6019, cgregorio@isda.org

Louise Marshall, ISDA New York, +1 212-901-6014, lmarshall@isda.org

Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org

ISDA to Publish Protocol and Auction Terms for Abitibi and Charter

New York, Friday, March 27, 2009 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that it will launch a CDS auction protocol to facilitate the settlement of credit derivatives trades referencing Abitibi-Consolidated Inc., the newsprint manufacturer. In addition, ISDA will launch a CDS auction protocol to facilitate the settlement of credit derivatives trades referencing Charter Communications Holdings, LLC, the St. Louis-based cable operator.

AbitibiBowater, which was formed in 2007 through the merger of US-based Bowater and Canada's Abitibi-Consolidated, failed to make payment on its loan debt on March 13, while Charter today filed a Chapter 11 petition in the United States Bankruptcy Court for the Southern District of New York.

ISDA will facilitate the process by publishing the Protocol and auction terms on its website www.isda.org, in due course. The Protocols will be open to ISDA members and non-members alike. Markit and Creditex will administer the auctions.

About ISDA

ISDA, which represents participants in the privately negotiated derivatives industry, is among the world’s largest global financial trade associations as measured by number of member firms. ISDA was chartered in 1985, and today has over 820 member institutions from 57 countries on six continents. These members include most of the world’s major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities.  Information about ISDA and its activities is available on the Association's web site: www.isda.org.

^®ISDA is a registered trademark of the International Swaps and Derivatives Association, Inc.