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Ambac Financial Group, Inc. Conference Call to Discuss Fourth Quarter Earnings Set for January 22, 2008 at 10 A.M. Eastern

NEW YORK, January 18, 2008-- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced that it will host a conference call for investors on January 22 at 10 a.m. Eastern to discuss fourth quarter 2007 earnings which are scheduled to be released at 6 a.m. that morning. The dial in number for the call is 877-407-0778 (U.S.) and 201-689-8565 (outside the U.S.).

The conference call will also be broadcast live on Ambac's website at 'www.ambac.com'.

Beginning at 2 p.m. on January 22 through February 1, the conference call will be available in replay. The replay numbers are 877-660-6853 (U.S.) and 201-612-7415 (outside the U.S.). The account and confirmation numbers for the replay are 286 and 269193, respectively. A recording will also be available on Ambac's web site approximately one hour after the end of the conference call.

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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 leading guarantor of public finance and structured finance obligations, has earned triple-A ratings from Moody's Investors Service, Inc., Standard & Poor's Ratings Services and Fitch, Inc. Moody's has placed Ambac's triple-A rating on review for possible downgrade. Standard & Poor's has placed Ambac's triple-A rating on "negative outlook." Fitch has placed Ambac's triple-A rating on "rating watch negative." Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).