Ambac Strengthens Investor Communications Platform.

NEW YORK -- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced the return of Peter Poillon as Managing Director of Fixed Income Investor Relations. In his new role, Mr. Poillon will work closely with Vandana Sharma who will continue to handle Equity Investor Relations and Media Relations. Paul Burke, who previously managed Fixed Income Investor Relations, has been named Managing Director of Client Relationship Management. In this role, he will work closely with Mr. Poillon and Ms. Sharma, as part of the increased communications effort.

Sean Leonard, Ambac's Chief Financial Officer, stated that, "The addition of Peter to the Investor Relations group strengthens our communications platform to allow us to continue to execute our transparency initiatives."

Mr. Poillon has been with Ambac for 15 years. Most recently, he headed Investor Relations at Ambac from 2002 until earlier this year. Prior to his role as head of Investor Relations, Mr. Poillon worked in the Finance department in various roles for nine years. He worked for KPMG LLP prior to joining Ambac in 1993.

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).