Countrywide Implements Emergency Response Plan

- Company Takes Measures to Ensure Safety, Security and Recovery for Customers and Employees Impacted by Hurricane Wilma -

CALABASAS, Calif. -- Countrywide Financial Corporation (NYSE: CFC), a diversified financial services provider and a member of the S&P 500, announced today that the company has enacted its hurricane emergency response plan due to the impact of Hurricane Wilma on Florida. The company's top priority is the welfare and well-being of Countrywide employees, customers and the residents of communities and neighborhoods throughout the areas affected by Hurricane Wilma.

"Our thoughts are with everyone affected by this storm. The damage caused by Hurricane Wilma in Florida calls for our focused efforts to help customers and employees through the recovery process," said Countrywide President and Chief Operating Officer Stanford L. Kurland. "Our emergency response team has implemented its disaster recovery and relief efforts to assist the impacted communities."

Countrywide offers the following information to assist homeowners impacted by the hurricane:

For Countrywide mortgage customers -- (800) 669-6607. A toll-free hotline has been established for customers affected by the hurricane with questions and requests related to their existing Countrywide mortgage. Countrywide will work with borrowers who were impacted by the storm and the company encourages them to call the hotline as soon as possible.

For customers of Countrywide Insurance Services -- (888) 556-8336. Customers who purchased their insurance through Countrywide Insurance Services and have experienced property losses may receive information about how to file a claim or ask questions regarding their insurance policies.

More than 800 Countrywide employees live and work in the affected areas, and about 30 Countrywide facilities in these communities are closed primarily due to power and telecommunications outages. The company is in the process of assessing the effects of the storm on its branches and is placing a priority on the safety and security of employees. Further, Countrywide is establishing contact with employees in the impacted areas.

Countrywide will provide updates and more detailed information as they become available.

About Countrywide Financial Corporation: Founded in 1969, Countrywide Financial Corporation is a member of the S&P 500 and Fortune 500. Through its family of companies, Countrywide provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services primarily prime-quality loans. Also included in Countrywide's mortgage banking segment is the LandSafe group of companies that provide loan closing services. Diversified financial services encompass capital markets, banking, insurance, and global, largely through the activities of Countrywide Capital Markets, a mortgage-related investment banker; Countrywide Bank, N.A., offering customers CDs, money market accounts, and home loan products; Countrywide Insurance Group & Balboa Life & Casualty, whose companies are national providers of property, liability, and life insurance; Balboa Reinsurance, a captive mortgage reinsurance company; and Global Home Loans, a European mortgage banking joint venture in which Countrywide holds a majority interest.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.