Ambac Financial Group to Sponsor NYCRemembers; Citywide Volunteerism Initiative Pays Tribute to 9/11 Victims
16 Agosto 2005 - 6:00PM
Business Wire
Ambac Financial Group, Inc. (NYSE:ABK) announced today that it will
participate as a principle sponsor of NYCRemembers Observance, a
weeklong initiative to encourage volunteerism and reach out to
those in need, to help foster meaningful remembrance of September
11, 2001. "With headquarters and the majority of our operations
located in downtown Manhattan, Ambac employees experienced the
trauma of 9/11 first-hand," said Ambac President and Chief
Executive Officer, Robert J. Genader. "NYCRemembers offers a
constructive way to keep the spirit of unity - felt so strongly by
New Yorkers and people around the world soon after that tragic
event - alive and growing. Commemorating 9/11 has been difficult
because of the emotional pain felt by so many," he continued, "but
NYCRemembers honors the memory of those who lost their lives and
enables all of us affected to take positive action to heal the
wounds inflicted on that fateful day." In addition to a major
financial contribution to the NYCRemembers Observance effort, Ambac
will offer employees opportunities to participate in volunteer
activities during the week of September 11. Most notably, Ambac
employees will be able to participate in a special Volunteer Day at
The Children's Village in Dobbs Ferry, NY, on September 16.
Children's Village, a residential treatment center for troubled
youths, is a key beneficiary of Ambac's charitable contributions.
In addition, Ambac employees will be encouraged to take time during
September to use their energy and talents to benefit other
worthwhile organizations. "NYCRemembers gives us the opportunity to
create something good out of tragedy," Gregg L. Bienstock, Senior
Vice President and Chief Administrative Officer, said. "Whether
it's part of an organized volunteer effort or simply helping
someone else in need, NYCRemembers gives us a chance to channel the
emotional energy evoked by memories of that day to produce positive
results." Ambac's sponsorship of NYCRemembers represents the
company's ongoing contributions commitment to support charities
related to 9/11 and lower Manhattan. NYCRemembers Observance is the
local initiative of One Day's Pay, an organization dedicated to
encouraging volunteerism as a tribute to the victims of September
11. One Day's Pay is the only organization fully supported by all
9/11 families and organizations. 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, the highest
ratings available from Moody's Investors Service, Inc., Standard
& Poor's Ratings Services, Fitch, Inc. and Rating and
Investment Information, Inc. Ambac Financial Group, Inc. common
stock is listed on the New York Stock Exchange (ticker symbol ABK).
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