NEW YORK--Dec. 14, 2001--The Board of Directors of Moody's Corporation (NYSE: MCO) Tuesday declared a quarterly dividend of 4.5 cents per share of Moody's common stock.

The dividend will be paid on March 10, 2002 to shareholders of record at the close of business on February 28, 2002.

Moody's Corporation (NYSE: MCO) is a leading provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets. Further information is available at www.moodys.com

CONTACT:
Moody's Corporation, New York
Michael Courtian, 212/553-7194
Michael.Courtian@moodys.com