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Press Release

Ambac Chief Executive Officer to Present at JPMorgan’s 2009 Credit and Equity Insurance Conference on March 18th

NEW YORK, March 16, 2009 -- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced that David Wallis, Chief Executive Officer, is scheduled to present at the JPMorgan 2009 Credit and Equity Insurance Conference in New York on Wednesday, March 18, 2009 at 3:30 p.m. Eastern Time.

To listen to the presentation, dial 800-988-9500, passcode: 7209713. A webcast of the presentation will not be available. Presentation materials will be available on Ambac’s website at www.ambac.com at least one hour prior to the start of the event. In addition, a replay of the call will be available through April 1, 2009. To listen to the replay, dial 888-676-2680, passcode: 56789.

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Ambac Financial Group, Inc., headquartered in New York City, is a holding company whose affiliates provide financial guarantees and financial services to clients in both the public and private sectors around the world. Ambac's principal operating subsidiary, Ambac Assurance Corporation, a guarantor of public finance and structured finance obligations, has a Baa1 rating (on review for possible downgrade) from Moody's Investors Service, Inc. and an A rating (negative outlook) from Standard & Poor's Ratings Services. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).

 

Investor/Media Contact: Vandana Sharma
212- 208-3333
vsharma@ambac.com

Fixed Income Contact: Peter Poillon
(212) 208-3222
ppoillon@ambac.com