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AMBAC ANNOUNCES PROPOSED SECONDARY OFFERING OF COMMON STOCK

 AMBAC ANNOUNCES PROPOSED SECONDARY OFFERING OF COMMON STOCK
 NEW YORK, Jan. 15 /PRNewswire/ -- AMBAC Inc. (NYSE: ABK) today announced that its principal stockholder, Citicorp Financial Guaranty Holdings, Inc., an indirect wholly owned subsidiary of Citicorp, has advised AMBAC that it would like to sell its remaining 49.7 percent equity interest in AMBAC in a secondary public offering. AMBAC has been requested to prepare a registration statement as soon as practicable. Any offering will be made only by means of a prospectus.
 In July 1991, Citicorp Financial Guaranty Holdings, Inc. sold 50.3 percent of its equity interest in AMBAC in an initial public offering.
 AMBAC is the holding company for AMBAC Indemnity Corporation, a leading insurer of municipal bonds, and Health Care Investment Analysts, Inc. (HCIA), an AMBAC Information Company.
 -0- 1/15/92
 /CONTACT: Robert Genader of AMBAC, 212-668-0340/
 (ABK) CO: AMBAC Inc. ST: New York IN: FIN SU: OFR


JT-CK -- NY085 -- 0229 01/15/92 17:06 EST
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Publication:PR Newswire
Date:Jan 15, 1992
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