Moody's Earnings Release and Investor Teleconference & Webcast

Earnings Release: Wednesday, July 28, 2004 Teleconference: 11:30 AM on Wednesday, July 28, 2004

Moody's Corporation, (NYSE: MCO) will release second quarter 2004 earnings results before the start of NYSE trading on Wednesday, July 28, 2004. A copy of the release will be posted on Moody's Shareholder Relations website, http://ir.moodys.com.

Moody's Corporation invites you to participate in a teleconference on Wednesday, July 28, 2004 at 11:30 AM (Eastern Time) to discuss its second quarter results.

Individuals within the United States and Canada can access the call by dialing (800) 915-4836. Other callers should dial (973) 317-5319. Please dial in to the call by 11:20 AM (Eastern Time). The passcode for the call is "Moody's Corporation."

The teleconference will also be webcast and can be accessed through Moody's Shareholder Relations website.

A replay of the teleconference will be available until midnight (Eastern Time), August 4, 2004. The replay can be accessed from within the United States and Canada by dialing (800) 428-6051. Other callers can access the replay at (973) 709-2089. The replay passcode is 366011.