Press Release

Ambac Executive to Present at the JP Morgan 2008 Insurance Conference

NEW YORK, March 25, 2008 -- Ambac Financial Group, Inc. (NYSE:ABK) (Ambac) today announced that Douglas Renfield-Miller, Executive Vice President, is scheduled to present at the JP Morgan 2008 Insurance Conference in New York on Thursday, March 27, 2008 at 3:30 p.m. Eastern Time.

To listen to the presentation, dial 800-779-9073 (in the U.S.) or 210-234-0021 (International), passcode: Insurance. Presentation materials will be made available on Ambac’s website at http://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 3, 2008. To listen to the replay, dial: 800-294-9508 (in the U.S.) or 203-369-3795 (International). 

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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 earned triple-A ratings from Moody's Investors Service, Inc. and Standard & Poor's Ratings Services; and a double-A rating from Fitch, Inc. Moody's, Standard & Poor's and Fitch all maintain a “negative outlook”. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).