First Marblehead to Broadcast Annual Stockholders Meeting on November 13, 2012

The First Marblehead Corporation (NYSE: FMD) today announced that it plans to broadcast its annual meeting of stockholders at 10:00 a.m. Eastern time on Tuesday, November 13, 2012. The meeting will be held at 60 State Street, Boston, Massachusetts, 02109. Daniel Meyers, First Marblehead's Chairman and Chief Executive Officer, will provide his remarks on the company.

Investors and other interested parties are invited to listen to the annual meeting via a simultaneous internet broadcast on the Company's website at www.firstmarblehead.com, under "For Investors," or by dialing (866) 713-8395 in the United States or (617) 597-5309 from abroad and entering the pass code 16029372.

A replay will be available approximately one hour after completion of the call on First Marblehead's website or by dialing (888) 286-8010 from the U.S. or (617) 801-6888 from abroad, and entering the pass code 28179934. The replay will be available for two weeks.

About The First Marblehead Corporation - First Marblehead helps meet the need for education financing by offering national and regional financial institutions and educational institutions the Monogram^® platform, an integrated suite of design, implementation and credit risk management services for private label, customizable private education loan programs. For more information, please see www.firstmarblehead.com. First Marblehead supports responsible lending and is a strong proponent of the smart borrowing principle, which encourages students to access scholarships, grants and federally-guaranteed loans before considering private education loans; please see www.SmartBorrowing.org. Through its subsidiary, Union Federal Savings Bank, First Marblehead offers private education loans, residential and commercial mortgage loans, and retail savings, money market and time deposit products. For more information, please seewww.unionfsb.com. First Marblehead also offers outsourced tuition planning, billing, payment technology services and refund management services through its subsidiary Tuition Management Systems LLC. For more information, please see www.afford.com. First Marblehead's subsidiary, First Marblehead Education Loan Services, LLC, d/b/a Cology LLC, is a leading provider of end-to-end private student loan origination and repayment servicing solutions for lenders. For more information, please see www2.cology.com.

© 2012 The First Marblehead Corporation