EXHIBIT 99.1
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                               CONTINUATION SHEET


                           Explanation of Responses


(1)  Interlaken Investment Partners, L.P. ("Investment Partners") sold in a
     public offering 1,150,000 shares of common stock of First Marblehead
     Corporation.

(2)  Includes 6,658,165 shares held by Investment Partners, 407,596 shares held
     by Interlaken Management Partners, L.P. ("Management Partners") and 63,878
     shares held by The Berkley Foundation, Inc. ("The Berkley Foundation"). The
     reporting person is the President of The Berkley Foundation and may be
     deemed to be the beneficial ownership of the 63,878 shares of common stock
     of First Marblehead Corporation held by The Berkley Foundation. The
     reporting person is the President and the sole general partner of
     Management Partners which is the sole general partner of Investment
     Partners. As such, the reporting person indirectly controls Investment
     Partners and Management Partners and may be deemed to have the beneficial
     ownership of 6,658,165 shares and 407,596 shares held by Investment
     Partners and Management Partners, respectively. The reporting person
     disclaims beneficial ownership of all shares of common stock owned by The
     Berkley Foundation, Investment Partners and Management Partners except, in
     each case, to the extent of any indirect pecuniary interest therein. In
     prior reports, the reporting person reported beneficial ownership of
     8,918,412 shares of common stock of First Marblehead Corporation.