X0202 4 2004-10-01 0 0000814585 MBIA INC MBI 0001237572 GAUDIANI CLAIRE L C/O MBIA 113 KING STREET ARMONK NY 10504 1 0 0 0 Phantom Stock Units 58.21 2004-10-01 4 A 0 105.93 58.21 A Common Stock 105.93 11275.62 D Contributions credited to units acquired under Directors Deferred Compensation Plan for Retainer and Meeting Fees. Exercisable and expiration dates of units is date of termination of Reporting Person's status as Director which triggers payment. LEONARD I. CHUBINSKY AS ATTORNEY IN FACT 2004-10-05