Amendment to Awards of Dexia Restricted Stock Sample Contracts

AMENDMENT dated as of February 14, 2007 to AGREEMENTS EVIDENCING AWARDS OF DEXIA RESTRICTED STOCK to ROBERT P. COCHRAN.
Amendment to Awards of Dexia Restricted Stock • April 2nd, 2007 • Financial Security Assurance Holdings LTD • Insurance carriers, nec • New York

WHEREAS, Robert P. Cochran has been awarded shares of Dexia Restricted Stock under the Financial Security Assurance Holdings Ltd. (the “Company”) 2004 Equity Participation Plan in 2005 and 2006 (the “2005/2006 Awards”);

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