Syncora appoints Fred Hnat to its Board of Directors as CEO

– BERMUDA, Hamilton – Syncora Holdings Ltd. (OTC:SYCRF), announced today that, as previously indicated, Frederick Hnat will assume the role of Chief Executive Officer and President, and will be appointed to the Company’s Board of Directors, effective today, upon Susan Comparato’s resignation from these positions and as a director of the Company to pursue other opportunities.  Ms. Comparato will continue to provide consulting services to Syncora, on an as needed basis, as provided by the terms of her separation agreement. The Chief Operating Officer position, previously held by Mr. Hnat, will not be filled.

Michael P. Esposito, Jr., Syncora’s Chairman, said, “The Board is very grateful to Susan for her many years of outstanding and dedicated service, leading Syncora through some of its most challenging times. We wish her all the best in her future endeavors. We are confident that Fred is the right leader for the Company’s next phase, with the experience and capability to drive our business forward. We look forward to working with him as we execute on our strategic initiatives to see Syncora meet its potential for delivering value to all of our stakeholders.”

About Syncora Holdings Ltd.

Syncora Holdings Ltd. (OTC:SYCRF), is a Bermuda-domiciled holding company.  Syncora Guarantee Inc. and Syncora Capital Assurance Inc. are wholly-owned subsidiaries of Syncora Holdings Ltd.

For more information : http://www.syncora.com

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