Eastern Time on the same day.m. A 30-day online
replay will be available approximately an hour following the
conclusion of the live broadcast.

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currently operates
health plans in California , Washington, Michigan, Utah, New Mexico and
Indiana.

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com
Fax: +353 1 4100 980

A link to this broadcast can be
found on the Company's website at www. More information on Molina Healthcare, Inc.

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containing exercises

g nicoll

An understanding of
market developments is essential to understanding the impact and role of
credit derivatives.

considered gurdjieff

com/reports/c16452 ) has announced the addition
of Credit Derivatives: Understanding the Instruments, Applications and Pricing
to their offering.
In five modules, each containing exercises to test your knowledge and with
answers provided to ensure that you have a full understanding of the issues of
concern.

considered maurice

Module 3
Synthetic structured credit is divided into three parts, all of which are
concerned with the variety of structures that can be created by applying
credit derivatives to portfolios of names.
The live broadcast of Molina Healthcare's conference call will
begin at 5:00 p. is a growing, multi-state managed care
organization that arranges for the delivery of healthcare services to
persons eligible for Medicaid and other programs for low-income
families and individuals.

The texts that are considered original are those containing long extracts from the writings of G.

are fourth

DUBLIN, Ireland, Research and Markets
(http://www.

fourth society

It describes the development of credit
derivatives within the context of both the limitations in the traditional
market and the impact of regulation upon that market.

Business Editors

LONG BEACH, Calif. (NYSE:MOH) today announced that it will report its
earnings for the fourth quarter and year ended December 31, 2004,
after the market closes on Wednesday, February 23, 2005.

practical religion

Module 4
The view of the credit market follows up on Module 1 by reviewing the
impact of credit derivatives on the overall credit market, and gives an
overview of the market (ie, what types of entity participate, which products
they use and their reasons for doing so).

Designed for readers familiar with the basic operation of securitisation
and swaps, Credit Derivatives will take you the extra mile in understanding
this difficult and fast-moving area.m.

molinahealthcare.

are original

Topics you will learn about are:

Module 1
Credit risk and the credit market examines the nature of credit risk for a
single asset and a portfolio.
These parts are:

- further applications and variations, which includes a description of a
number of more technical single-name uses of the default swap, and several
variants of the standard product;
- CDS contract design, which extends the discussion into the key terms of
the single-name CDS contract, and the extent to which uniform, standardised
contracts are now applied; and
- CDS pricing, which identifies the key parameters in default swap
pricing, outlines the theoretical basis for popular pricing models, and
analyses their practical consequences.com or at
www.

Gurdjieff , P.

maurice long

D.

quotes nicoll

com/cgi-bin/prnh/20040820/RESEARCH )
Credit Derivatives is unique self-study guide to these complex
instruments, their application, pricing and market development.----Molina
Healthcare, Inc.

ouspensky considered

newscom.

Module 2
Single-name credit derivatives introduces the various credit derivative
products, their main applications and the motivations of the different user
types.

Module 5
Pricing, contract design and documentation is divided into three parts,
each containing greater detail on several of the more technical areas relating
to the principal product , the credit default swap (CDS). Eastern Time on February 23rd. The number to call
for this interactive conference call is 212-748-2802.com

About Molina Healthcare, Inc.

long fourth

considered p

For more information visit
http://www.researchandmarkets. The Company's
management will host a conference call and webcast to discuss the
earnings release at 5:00 p.

extracts g

researchandmarkets.

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These parts are:

- multiple-name credit derivatives, which includes a discussion of
portfolio swaps, index swaps and basket swaps (including nth-todefault swaps);
- credit-linked notes, which looks at the various ways of combining
different credit derivatives with tailored note issues, and the motives for
doing so; and
- synthetic securitisation, which details the major impact of credit
derivatives upon securitisation and on collateralised debt obligations (CDOs)
in particular.

Molina Healthcare to Broadcast Fourth Quarter and Year-End Results Conference Call Live on the Internet

Molina Healthcare , Inc. can be obtained
at www.

Ouspensky and Maurice Nicoll.

p writings

Molina Healthcare, Inc.

are g

spirituality texts

Research and Markets: Credit Derivatives: Understanding the Instruments Applications and Pricing

(Logo: http: //www.

nicoll p

This workbook
is designed to provide answers to fundamental questions about what are credit
derivatives who uses them, why and in what ways.com/reports/c16452

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.molinahealthcare.fulldisclosure .