Calabasas, Calif. (Vocus) October 2, 2007
Countrywide Economic Company (NYSE: CFC), today announced that David Sambol, President and Main Operating Officer, has been appointed to its board of administrators.

“Mr. Sambol will make a great contribution to our board,” mentioned Harley Snyder, president of HSC, Inc. and Countrywide’s guide director. “Dave’s confirmed management talent, complete information of the Company and unparalleled skills in all elements of the mortgage sector will be invaluable to the Board.”

A 22-calendar year veteran of Countrywide, Mr. Sambol was appointed President and Main Working Officer in 2006. In addition to overseeing all operations of the Firm, Mr. Sambol’s tasks at present contain leadership of corporate operational and assistance units. Mr. Sambol also serves as a member of management’s Govt Committee.
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“Dave has been a driving drive powering Countrywide’s long-phrase growth above the many years,” mentioned Angelo R. Mozilo, Countrywide Chairman and Chief Executive Officer. “He has shown the a lot of attributes necessary of a entire world-course chief in the course of difficult market situations and he has established his ability to execute techniques that place us for long term growth and ongoing market place leadership.”
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Mr. Sambol has been instrumental in developing the Company’s principal home loan originations and servicing procedure. He also recognized Countrywide Capital Markets, and served as its President and Chief Government Officer. Below his direction, CCM became 1 of the nation’s leading mounted-earnings securities companies.
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Earlier in his tenure at Countrywide, Mr. Sambol served as Executive Handling Director of Organization Segment Functions, and has led all profits making functions of the Firm. He has also experienced oversight duty for Countrywide Financial institution, Countrywide Insurance Team, and Countrywide’s World-wide Functions. Mr. Sambol began his career with the Organization as a director of inside audit. Prior to joining Countrywide, Mr. Sambol served as a Licensed Community Accountant with the accounting organization of Ernst & Whinney.

About Countrywide:
Founded in 1969, Countrywide Economic Company is a diversified financial services supplier and a member of the S&P 500, Forbes 2000 and Fortune 500. By means of its family members of businesses, Countrywide originates, purchases, securitizes, sells, and services household and industrial loans provides financial loan closing solutions such as credit history reports, appraisals and flood determinations delivers banking services which consist of depository and property loan products conducts set revenue securities underwriting and trading actions gives house, existence and casualty insurance policies and manages a captive mortgage reinsurance business. For more details about the Organization, visit Countrywide’s website at http://www.countrywide.com.
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This Press Release is made up of forward-looking statements inside of the that means of Segment 21E of the Securities Exchange Act of 1934, as amended, with regards to management’s beliefs, estimates, projections, and assumptions with respect to, amid other items, the Company’s foreseeable future functions, organization ideas and strategies, as effectively as industry and market place problems, all of which are subject to modify. Real final results and operations for any long term time period may range materially from individuals projected herein and from previous results talked about herein. Variables which could result in true results to vary materially from historical final results or these expected contain, but are not minimal to: improved price of personal debt lowered entry to corporate credit card debt marketplaces unexpected funds or cash demands a reduction in secondary house loan market trader desire elevated credit losses owing to downward traits in the economic system and in the actual estate industry will increase in the delinquency costs of borrowers competitive and general financial problems in each of our company segments this kind of as slower or damaging house price appreciation changes in common company, economic, market and political circumstances in the United States and overseas from these expected reduction in authorities help of homeownership the stage and volatility of curiosity costs modifications in fascination fee paths changes in personal debt rankings changes in normally recognized accounting principles or in the authorized, regulatory and legislative environments in which Countrywide operates the judgments and assumptions created by administration concerning accounting estimates and connected matters the capacity of management to effectively apply the Firm’s strategies and other pitfalls noted in files filed by the Company with the Securities and Trade Fee from time to time. Words and phrases like “imagine,” “count on,” “anticipate,” “assure,” “prepare,” and other expressions or terms of equivalent meanings, as properly as long term or conditional verbs such as “will,” “would,” “ought to,” “could,” or “may possibly” are generally meant to discover ahead-seeking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other info contained herein.

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