Legal Information

This Web site ("Site") is provided by Ambac Financial Group, Inc. ("Ambac"). By using this Site or accessing any information, content, data, or materials contained on this Site ("Materials"), you agree to abide by the terms and conditions set forth in this Terms of Use.

Nature of this Site

INFORMATIONAL PURPOSES ONLY: The Materials contained on this Site are for informational purposes only and do not constitute (x) an offer to sell or a solicitation to buy any security or any insurance product or (y) financial, tax, legal, investment, or accounting advice. You should not rely on any of the Materials available on this Site for any purpose, including without limitation, as the basis for any financial decision. Not all of the products or services described in this Site are available in all jurisdictions or to all potential customers or investors, and nothing herein is intended as an offer or solicitation in any jurisdiction or to any potential customer or investor where such offer or sale is not qualified or exempt from regulation.

CHANGES: Ambac reserves the right, at its sole discretion, to change, modify, add or remove any portion of this Terms of Use, including with respect to our use of any of your data that we may collect, in whole or in part, at any time. Changes in this Terms of Use will be effective when notice of such change is posted. Your continued use of the Site or of any Materials after any changes to this Terms of Use are posted will be considered acceptance of those changes.

Ambac may terminate, change, suspend or discontinue any aspect of the Site, including the availability of any features of the Site, at any time. Ambac may also impose limits on certain features and services or restrict your access to parts or all of the Site without notice or liability. Ambac may terminate the authorization, rights and license given herein and, upon such termination, you shall immediately destroy all Materials you may have copied or downloaded from the Site.

DISCLAIMER: THE SITE AND MATERIALS MAY CONTAIN ERRORS, INCLUDING WITHOUT LIMITATION, INACCURACIES AND TYPOGRAPHICAL ERRORS. AMBAC EXPRESSLY DISCLAIMS ANY OBLIGATION TO UPDATE THIS SITE OR ANY OF THE MATERIALS OR STATEMENTS ON THIS SITE. AMBAC DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE MATERIALS OR THE RELIABILITY OF ANY ADVICE, OPINION, STATEMENT OR OTHER INFORMATION DISPLAYED OR DISTRIBUTED THROUGH THE SITE. YOU ACKNOWLEDGE THAT ANY RELIANCE ON ANY SUCH OPINION, ADVICE, STATEMENT, MEMORANDUM, OR INFORMATION SHALL BE AT YOUR SOLE RISK. AMBAC RESERVES THE RIGHT, IN ITS SOLE DISCRETION, TO CORRECT ANY ERRORS OR OMISSIONS IN ANY MATERIALS, SERVICES, PRODUCTS OR PORTION OF THE SITE. AMBAC MAY MAKE ANY OTHER CHANGES TO THE SITE, THE MATERIALS, THE PRODUCTS, PROGRAMS, SERVICES OR PRICES (IF ANY) DESCRIBED IN THE SITE AT ANY TIME WITHOUT NOTICE AND IN ITS SOLE DISCRETION.

THIS SITE, THE MATERIALS ON THE SITE, AND THE SOFTWARE MADE AVAILABLE ON THE SITE, ARE PROVIDED "AS IS" AND "WHEN AVAILABLE" WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT, OR FITNESS FOR ANY PARTICULAR PURPOSE. SOME JURISDICTIONS DO NOT ALLOW FOR THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSIONS MAY NOT APPLY TO YOU.

GENERAL: Nothing contained in this Terms of Use shall be construed as creating any agency, partnership, or other form of joint enterprise between us. Our failure to require your performance of any provision hereof shall not affect the full right to require such performance at any time thereafter, nor shall our waiver of a breach of any provision hereof be taken or held to be a waiver of the provision itself. In the event that any provision of this Terms of Use shall be unenforceable or invalid under any applicable law or be so held by any applicable court decision, such unenforceability or invalidity shall not render the Terms of Use unenforceable or invalid as a whole. We will amend or replace such provision with one that is valid and enforceable and which achieves, to the extent possible, our original objectives and intent as reflected in the original provision.

THIRD-PARTY SITES: As a convenience to you, Ambac may provide, on this Site, links to Web sites operated by other entities. If you decide to visit any linked site, you do so at your own risk and it is your responsibility to take all protective measures to guard against viruses or other destructive elements. Ambac makes no warranty or representation regarding, and does not endorse, any linked Web sites or the information appearing thereon or any of the products or services described thereon. Links do not imply that Ambac or this Site sponsors, endorses, is affiliated or associated with, or is legally authorized to use any trademark, trade name, logo or copyright symbol displayed in or accessible through the links, or that any linked site is authorized to use any trademark, trade name, logo or copyright symbol of Ambac or any of its affiliates or subsidiaries.

LIMITATION OF LIABILITY: IN NO EVENT, SHALL AMBAC, OR ANY OF ITS OFFICERS, DIRECTORS, SHAREHOLDERS, EMPLOYEES, AGENTS, REPRESENTATIVES OR LICENSORS BE LIABLE HEREUNDER, UNDER ANY THEORY OF LIABILITY WHATSOEVER (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE AND STRICT LIABILITY) FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OR FOR LOSS OF PROFITS, REVENUE, PROGRAMMING, OR OTHERWISE (WHETHER IN AN ACTION IN CONTRACT, TORT, PRODUCT LIABILITY, STATUTE OR OTHERWISE (EVEN IF AMBAC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES)) ARISING OUT OF (A) YOUR USE OF THE SITE OR MATERIALS, INCLUDING, BUT NOT LIMITED TO, ANY LOSS OR DAMAGE CAUSED BY ANY RELIANCE ON, OR ANY DELAYS, INACCURACIES, ERRORS OR OMISSIONS IN, ANY MATERIALS ACCESSED ON OR THROUGH THE SITE, (B) ANY TRANSACTION ENTERED INTO THROUGH OR FROM THE SITE, (C) YOUR INABILITY TO USE THE SITE OR MATERIALS FOR WHATEVER REASON, INCLUDING, BUT NOT LIMITED TO, COMMUNICATIONS FAILURE OR ANY OTHER FAILURE WITH TRANSMISSION OR DELIVERY OF ANY INFORMATION ACCESSED ON OR THOUGH THE SITE, (D) THE DELETION, CORRECTION, DESTRUCTION, DAMAGE, LOSS OR FAILURE TO STORE ANY MATERIALS, (E) THE USE OF ANY PRODUCTS OR SERVICES REFERRED TO OR OBTAINED ON OR THROUGH THE SITE, (F) UNAUTHORIZED ACCESS TO THE SITE AND UNAUTHORIZED ALTERATION TO YOUR TRANSMISSIONS OR DATA, (G) STATEMENTS, INFORMATION OR CONDUCT OF ANY THIRD PARTY ON THE SITE, OR (H) ANY OTHER MATTER RELATING TO THE SITE OR MATERIALS.

BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, IN SUCH JURISDICTIONS AMBAC'S AGGREGATE LIABILITY WILL BE LIMITED TO THE EXTENT PERMITTED BY THE LAWS OF THAT JURISDICTION. IN NO EVENT SHALL THE TOTAL LIABILITY OF AMBAC TO YOU FOR ALL LOSS OR DAMAGE EXCEED $50.00.

WITHOUT LIMITING THE FOREGOING, YOU AGREE THAT IF YOU USE THIRD-PARTY INFORMATION, SERVICES OR PRODUCTS OFFERED ON THIS SITE OR A WEB SITE LINKED TO OR THAT IS OTHERWISE REFERRED TO ON OR THROUGH THE SITE, SUCH PARTY IS SOLELY RESPONSIBLE FOR SUCH INFORMATION, SERVICES OR PRODUCTS, AND YOU HEREBY RELEASE AMBAC, AND ANY OF THEIR OFFICERS, DIRECTORS, SHAREHOLDERS, EMPLOYEES, AGENTS, REPRESENTATIVES AND LICENSORS, FROM ANY CLAIMS, DEMANDS AND DAMAGES (INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES) OF EVERY KIND AND NATURE, KNOWN AND UNKNOWN, SUSPECTED AND UNSUSPECTED, DISCLOSED AND UNDISCLOSED, ARISING OUT OF OR IN ANY WAY CONNECTED WITH SUCH INFORMATION, SERVICES OR PRODUCTS, ANY TRANSACTIONS BETWEEN YOU AND SUCH PARTY AND ANY DISPUTES BETWEEN YOU AND SUCH PARTY.

INDEMNITY: You agree to indemnify and hold harmless Ambac, its parent, subsidiaries, affiliates and any of their officers, directors, shareholders, employees, agents and representatives from any claim, cost, expense, judgment or other loss relating to your use of this Site, including without limitation of the foregoing, any action you take which is in violation of the terms and conditions of this Terms of Use.

Trademark & Copyright Information

This site and its contents are protected by United States and international copyright laws.

The mark, Financial Peace of Mind ® is a registered trademark of Ambac. This trademark may not be used without the express written permission of Ambac.

PROPRIETARY RIGHTS: You acknowledge and agree that the Site and any Materials contained on the Site, are owned by, licensed to, or is otherwise used under permission by Ambac and is subject to protection by U.S. and international intellectual property laws, including, but not limited to, any patent rights, copyrights, trade secrets, trade names, trademarks, service marks, moral rights, know-how and any other similar rights or intangible assets recognized under laws or international conventions in any country or jurisdiction in the world as intellectual creations to which rights of ownership accrue.

LIMITED LICENSE: Subject to the terms and conditions set forth in this Terms of Use, Ambac grants you a non-exclusive, non-transferable, limited right to access, use and display this Site and the Materials therein. You agree not to interrupt or attempt to interrupt the operation of the Site in any way.

Ambac authorizes you to view and download the Materials on this Site only for your personal, non-commercial use, except as otherwise expressly provided herein. This authorization is not a transfer of title in the Materials and copies of the Materials and is subject to the following restrictions: (1) you must retain, on all copies of the Materials downloaded, all copyright and other proprietary notices contained in the Materials; (2) you may not modify the Materials in any way or prepare derivative works of the Materials for any purpose; (3) you may not reproduce, publicly display, perform, distribute, or otherwise use the Materials for any public or commercial purpose; and (4) you may not sell, distribute, or transfer the Materials to any other person unless you give them notice of, and they agree to accept, the obligations arising under these terms and conditions of use. You agree to abide by all additional restrictions displayed on the Site as it may be updated from time to time. You agree to comply with all copyright laws worldwide in your use of this Site and to prevent any unauthorized copying of the Materials. Ambac does not grant any express or implied rights under any patents, trademarks, copyrights or trade secret information.

Forward-Looking Statements

In our Website, certain Materials include statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any or all of management’s forward-looking statements here or in other publications may turn out to be wrong and are based on Ambac’s management current belief or opinions. Ambac’s actual results may vary materially, and there are no guarantees about the performance of Ambac’s securities. Among events, risks, uncertainties or factors that could cause actual results to differ materially are: (1) changes in Ambac’s and/or Ambac Assurance’s credit or financial strength ratings; (2) the risk of credit and liquidity risk due to unscheduled and unanticipated withdrawals on investment agreements; (3) the risk that market risks impact assets in our investment portfolio; (4) inadequacy of reserves established for losses and loss expenses; (5) credit risk throughout our business, including credit risk related to residential mortgage-backed securities and CDOs and large single exposures to reinsurers; (6) market spreads and pricing on insured collateralized debt obligations (“CDOs”) and other derivative products insured or issued by Ambac; (7) the risk that holders of debt securities or counterparties on credit default swaps or other similar agreements seek to declare events of default or seek judicial relief or bring claims alleging violation or breach of covenants by Ambac or one of its subsidiaries; (8) default by one or more of Ambac Assurance’s portfolio investments, insured issuers, counterparties or reinsurers; (9) the risk that we may be required to raise additional capital, which could have a dilutive effect on our outstanding equity capital and/or future earnings; (10) our ability or inability to raise additional capital, including the risks that regulatory or other approvals for any plan to raise capital are not obtained, or that various conditions to such a plan, either imposed by third parties or imposed by Ambac or its Board of Directors, are not satisfied and thus potentially necessary capital raising transactions do not occur, or the risk that for other reasons the Company cannot accomplish any potentially necessary capital raising transactions; (11) the risk that Ambac’s holding company structure and certain regulatory and other constraints, including adverse business performance, affect Ambac’s ability to pay dividends and make other payments; (12) legislative and regulatory developments, including the Troubled Asset Relief Program and other programs under the Emergency Economic Stabilization Act and other similar programs; (13) changes in the economic, credit, foreign currency or interest rate environment in the United States and abroad; (14) changes in capital requirements whether resulting from downgrades in our insured portfolio or changes in rating agencies’ rating criteria or other reasons; (15) changes in accounting principles or practices relating to the financial guarantee industry or that may impact Ambac’s reported financial results; (16) the level of activity within the national and worldwide credit markets; (17) competitive conditions, pricing levels and reduction in demand for financial guarantee products; (18) changes in our business plan, our decision to discontinue writing new business in the financial services area, to significantly reduce new underwriting of structured finance business and to discontinue all new underwritings of structured finance business; (19) the risk that our underwriting and risk management policies and practices do not anticipate certain risks and/or the magnitude of potential for loss as a result of unforeseen risks; (20) the risk of volatility in income and earnings, including volatility due to the application of fair value accounting, or FAS 133, to the portion of our credit enhancement business which is executed in credit derivative form; (21) changes in expectations regarding future realization of gross deferred tax assets; (22) risks relating to the re-launch of Connie Lee as Everspan Financial Guaranty Corp.; (23) operational risks, including with respect to internal processes, risk models, systems and employees; (24) the risk of decline in market position; (25) changes in prepayment speeds on insured asset-backed securities; (26) factors that may influence the amount of installment premiums paid to Ambac; (27) the risk of litigation and regulatory inquiries or investigations, and the risk of adverse outcomes in connection therewith, which could have a material adverse effect on our business, operations, financial position, profitability or cash flows; (28) changes in tax laws; (29) the policies and actions of the United States and other governments; (30) other factors described in the Risk Factors section in Part I, 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and in Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008, and also disclosed from time to time by Ambac in its subsequent reports on Form 10-Q and Form 8-K, which are or will be available on the Ambac website at www.ambac.com and at the SEC’s website, www.sec.gov; and (31) other risks and uncertainties that have not been identified at this time. Readers are cautioned that forward-looking statements speak only as of the date they are made and that Ambac does not undertake to update forward-looking statements to reflect circumstances or events that arise after the date the statements are made. You are therefore advised to consult any further disclosures we make on related subjects in Ambac’s reports to the SEC.

Privacy Policy

Ambac is sensitive to privacy issues on the Internet. We believe it is important you know how we treat the information about you that we collect and maintain from the Site.

In general, you can visit the Site without telling us who you are or revealing any information about yourself. Our web servers collect the domain names, not the e-mail addresses, of visitors. We may collect, store or accumulate certain non-personally identifiable information concerning your use of this Site, such as information regarding the number of visits, average time spent on the Site, pages viewed, etc. Also, we may use the information you provide us in aggregate form for internal business purposes, such as generating statistics or developing marketing plans, measuring the use of our Site, and improving the content of our Site. We may share or transfer such non-personally identifiable information with or to our affiliates, licensees and partners.

There are times, however, when we may need to obtain personally identifiable information from you, such as your name and address. For instance, from time to time, we may conduct on-line surveys to better understand the needs and profile of our visitors. When we collect personally-identifiable information, we will let you know at the time of collection how we will use the personal information. Unless otherwise disclosed to you, the personal information we collect will be used by us (or by one or more of our affiliates) to respond to your inquiry, process business or allow you to access specific account information.

We may use a technology called "cookies" to identify who you are so we can provide you with tailored information. A cookie is a tiny element of data that a web site can send to your browser, which may then be stored on your hard drive so we can recognize you when you return.

Ambac's web site may contain links to other sites. While we try to link only to sites that share our high standards and respect for privacy, we are not responsible for the content or the privacy practices employed by other sites.

This Site is not intended for persons under 13 years of age. No information should be submitted to this Site by a user under the age of 13 years without the consent of his or her parent or guardian.

As we continue to develop our business, we might sell certain of our assets, including without limitation, in the event of a sale of all or part of our business or disposition of assets in connection with bankruptcy proceedings. In such transactions, user information, including personally identifiable information, generally is one of the transferred business assets. By submitting your personal information on the Site you agree that your data may be transferred to such parties in those circumstances.

We may also disclose any information, including personally identifiable information, we deem necessary, in our sole discretion, to comply with any applicable law, regulation, legal process or governmental request.

We may revise this Privacy Policy from time to time. If we decide to change our Privacy Policy, we will post the revised policy here. As we may make changes at any time without notifying you, we suggest that you periodically consult this Privacy Policy. Please note that all such changes will apply to the use of any data that has been collected about you and maintained by us, even if it is collected prior to the time of such changes.

Other Legal Matters

AMBAC ASSURANCE UK LIMITED DISCLOSURE: Ambac Assurance UK Limited is authorized and regulated by the Financial Services Authority ("FSA") for the dealing in investments and in relation to undertaking contracts of insurance. This website has been approved for distribution in the United Kingdom by Ambac Assurance UK Limited, of Level 7, 6 Broadgate London, EC2M 2QS [(Companies House Registration Number: 3248674)], [(VAT number: 766090122)], which is entered in the FSA's registration number 202924 (www.fsa.gov.uk/register/). This site is directed at persons in the United Kingdom who would be classified as intermediate customers or market counterparties under the FSA rules and any investment or service to which it relates is available only to such persons. Private customers (as defined in the FSA rules) in the UK should not rely on the contents of this site. Some products and services may not be available in all jurisdictions or to all clients.

AMBAC CREDIT PRODUCTS LIMITED DISCLOSURE: Ambac Credit Products Limited is authorized and regulated by the Financial Services Authority ("FSA") for dealing in investments. This website has been approved for distribution in the United Kingdom by Ambac Credit Products Limited, of Level 7, 6 Broadgate London, EC2M 2QS [(Companies House Registration Number: 04014850)], [(VAT number: 766090122)], which is entered in the FSA's registration number 194928 (www.fsa.gov.uk/register/). This site is directed at persons in the United Kingdom who would be classified as intermediate customers or market counterparties under the FSA rules and any investment or service to which it relates is available only to such persons. Private customers (as defined in the FSA rules) in the UK should not rely on the contents of this site. Some products and services may not be available in all jurisdictions or to all clients.

REPRESENTATIVE OFFICES: Ambac’s representative offices are located in Milan, Tokyo and Sydney.

INTERNATIONAL USERS & CHOICE OF LAW : This Site is controlled, operated and administered by Ambac from its offices within the United States of America. Ambac makes no representation that materials at this site are appropriate or available for use at other locations outside of the United States and access to them from territories where their contents are illegal is prohibited. You may not use the Site or export the Materials in violation of U. S. export laws and regulations. If you access this Site from a location outside of the United States, you are responsible for compliance with all local laws. This Terms of Use shall be governed by the laws of the State of New York, without giving effect to its conflict of laws provisions. You agree that the appropriate state or federal court in New York County will have the exclusive jurisdiction to resolve all disputes arising under this Terms of Use, and you consent to personal jurisdiction in such forum.

This Terms of Use constitutes the entire agreement between Ambac and you with respect to your use of the Site. Any cause of action you may have with respect to your use of the Site must be commenced within one (1) year after the claim or cause of action arises. If for any reason a court of competent jurisdiction finds any provision of the Terms of Use or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to effect the intent of the Terms of Use, and the remainder of this Terms of Use shall continue in full force and effect.