Press Release

Ambac Assurance Announces Filing of Statutory Financial Statements<

 

NEW YORK, March 2, 2011 --Ambac Assurance Corporation (Ambac Assurance) today announced it has filed statutory financial statements as of and for the year ended December 31, 2010 for Ambac Assurance, Ambac Assurance Corporation Segregated Account (in rehabilitation), and Everspan Financial Guarantee Corporation.  The statutory financial statements can be found on Ambac’s web site at www.ambac.com.

 

About Ambac Assurance

Ambac Assurance is a guarantor of public finance and structured finance obligations, has a Caa2 rating from Moody's Investors Service, Inc., and is the principal operating subsidiary of Ambac Financial Group, Inc. (Ambac Financial).

Ambac Financial, headquartered in New York City, is a holding company whose affiliates provided financial guarantees and financial services to clients in both the public and private sectors around the world. Ambac Financial filed for a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (“Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (“Bankruptcy Court”). Ambac Financial will continue to operate in the ordinary course of business as “debtor-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court.  Ambac Financial’s common stock trades in the over-the-counter market under ticker symbol ABKFQ.

 

Investor Contact: Michael Fitzgerald
(212) 208-3222
mfitzgerald@ambac.com