RNS No 1147t
GESB PLC


DOCUMENT RE:

          AMBAC ASSURANCE CORPORATION AND SUBSIDIARIES
    (A WHOLLY OWNED SUBSIDIARY OF AMBAC FINANCIAL GROUP, INC.)

         CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

        AS OF SEPTEMBER 30, 1998 AND DECEMBER 31, 1997
    AND FOR THE PERIODS ENDED SEPTEMBER 30, 1998 AND 1997


A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END

DOCSSDSWAUUUFEU
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