MBNA America Bank, N.A. Securitizes $500 Million of Credit Card Receivables from the MBNA Credit Card Master Note Trust

MBNA Corporation and its wholly owned subsidiary, MBNA America Bank, N.A. announced today that, through the MBNA Credit Card Master Note Trust, it will issue $500 million in credit card asset backed notes.
The Class A(2005-11) tranche consists of $500 million floating rate asset backed notes. The 5-year Class A(2005-11) notes were priced at par and will accrue interest at 4 basis points over the one-month London Interbank Offered Rate ("LIBOR").
The transaction, which is scheduled to close on December 16, 2005 was joint-lead managed by Banc of America Securities LLC and Merrill Lynch & Co. and co-managed by ABN AMRO Incorporated, Barclays Capital, Goldman, Sachs & Co., JPMorgan, and Lehman Brothers.
About MBNA Corporation
MBNA (NYSE: KRB), the largest independent credit card lender in the world and a recognized leader in affinity marketing, is an international financial services company providing direct lending, deposit, and credit insurance products and services. MBNA credit cards and related products and services are endorsed by more than 5,000 organizations worldwide. MBNA and Bank of America have announced their intention to merge operations, pending regulatory approval. The merger is expected to close in early January 2006. For more information, visit the company's web site at http://www.mbna.com.

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