Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced that David Wallis, Chief Executive Officer, is scheduled to present at the JPMorgan 2009 Credit and Equity Insurance Conference in New York on Wednesday, March 18, 2009 at 3:30 p.m. Eastern Time.

To listen to the presentation, dial 800-988-9500, passcode: 7209713. A webcast of the presentation will not be available. Presentation materials will be available on Ambac�s website at 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 1, 2009. To listen to the replay, dial 888-676-2680, passcode: 56789.

About Ambac

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 a Baa1 rating (on review for possible downgrade) from Moody's Investors Service, Inc. and an A rating (negative outlook) from Standard & Poor's Ratings Services. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).

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