Assured Guaranty Ltd. has agreed a deal with WL Ross & Co. LLC allowing it to buy up to five million additional shares in the company.

The timing and amount of such purchases are at the discretion of WLR Ross and they are not obligated to buy those shares.

The additional shares will be bought from current shareholders and will not result in an increase in shareholders' equity at Assured or its subsidiaries, which continue to exceed the rating agencies' capital requirements for their triple-A and double-A ratings.

If all five million additional shares were purchased, the WL Ross Funds would own 17,166,396 shares or approximately 18.9 percent of the company's outstanding common shares based on shares outstanding as of June 30, 2008.

"We appreciate the continued support of WL Ross as it reflects confidence in the long term prospects of Assured and also recognises the significant value in our stock and company through these turbulent times," said Dominic Frederico, president and CEO of Assured Guaranty Ltd.