ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Friday, April 3, 2009

For More Information, Please Contact:

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

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

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

ISDA Finalizes the Credit Derivatives Determinations Committees

New York, Friday, April 3, 2009 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced the final composition of the Credit Derivatives Determinations Committees further to an adjustment by the Depository Trust and Clearing Corporation (DTCC) in its classification of firms for the Asian regions. The adjusted data from DTCC has resulted in an amendment to the regional non-voting representatives in Asia Ex-Japan and Australia/New Zealand, and the regional voting and regional non-voting representatives in the Japan Committee. The buy-side representation on these committees has not changed.

Japan

Dealers:

Bank of America/Merrill Lynch

Barclays

Citibank

Credit Suisse

Deutsche Bank

Goldman Sachs

JPMorgan Chase Bank, N.A.

* Mizuho Securities (amended position)

Morgan Stanley

UBS

Regional Non-Voting Dealer:

*The Royal Bank of Scotland (amended position)

Asia Ex-Japan and Australia New Zealand

Dealers:

Bank of America/Merrill Lynch

Barclays

Citibank

Credit Suisse

Deutsche Bank

Goldman Sachs

JPMorgan Chase Bank, N.A.

The Royal Bank of Scotland

Morgan Stanley

UBS

Regional Non-Voting Dealer:

*Nomura International (amended position)

Formal membership of the Committees will be confirmed once firms have signed a standard form of agreement with ISDA and (if they have not done so already) adhered to the 'Big Bang' CDS Protocol.

The resolutions of the Determinations Committees will be binding on all CDS transactions that have incorporated ISDA’s March 2009 Supplement. The Supplement may be included in the documentation for CDS transactions going forward. Parties can incorporate its terms into existing transactions by adhering to the 'Big Bang' CDS Protocol on or before April 7, 2009.

The Supplement and Protocol are available on ISDA’s website www.isda.org. A set of frequently asked questions and other information is also available there.

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.