August 8, 2013

Ambac's Second Quarter 2013 Results Scheduled to be Released August 14, 2013

NEW YORK, Aug. 8, 2013 (GLOBE NEWSWIRE) -- Ambac Financial Group, Inc. announced today that it will release its second quarter 2013 results before the market open on August 14, 2013.

About Ambac

Ambac Financial Group, Inc. ("Ambac"), headquartered in New York City, is a holding company whose subsidiaries, including its principal operating subsidiary, Ambac Assurance Corporation ("Ambac Assurance"), Everspan Financial Guarantee Corporation, and Ambac Assurance UK Limited, provided financial guarantees and other financial services to clients in both the public and private sectors globally. Ambac Assurance, including the Segregated Account of Ambac Assurance (in rehabilitation), is a guarantor of public finance and structured finance obligations. Ambac is also exploring opportunities involving the development or acquisition of new financial services businesses. Ambac's common stock trades on the NASDAQ Global Select Market (Nasdaq:AMBC).

CONTACT: Michael Fitzgerald

         (212) 208-3222

Ambac Financial Group, Inc.

Source: Ambac Financial Group, Inc.

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