ABK Ambac Financial Grp. Common Stock

Ambac's Executive Vice President to Present at Goldman Sachs Financial Services Conference NEW YORK, February 26 /PRNewswire/ -- Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced today that John W. Uhlein III, Ambac's Executive Vice President and Chairman of Ambac Assurance UK Limited, will present at the Goldman Sachs Financial Services Conference on March 8, 2004 at 3:30 p.m. at the Goldman Sachs Auditorium in London, England. The presentation will be available via conferencecall and the replay number will be provided. The conference dial in number is +44-207-774-4700, pin number 127975. The replay number is +44-207-774-8880 and the pin number is 298095. 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, is a leading guarantor of municipal and structured finance obligations. It 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 FinancialGroup, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK). Web site: http://www.ambac.com DATASOURCE: Ambac Financial Group, Inc. Peter R. Poillon of Ambac Financial Group, Inc., +1-212-208-3333, ppoillon@ambac.com

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