September 30, 2013

Ambac Announces Date for Third Quarter 2013 Earnings Release and Conference Call

NEW YORK, Sept. 30, 2013 (GLOBE NEWSWIRE) -- Ambac Financial Group, Inc. today announced that it will release its third quarter 2013 financial results and hold an earnings call on November 14, 2013. Details about the call will be provided once finalized.

About Ambac

Ambac Financial Group, Inc., 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 Financial Group, Inc. is also exploring opportunities involving the development or acquisition of new financial services businesses. Ambac Financial Group Inc.'s common stock trades on the NASDAQ Global Select Market (Nasdaq:AMBC).

CONTACT: Michael Fitzgerald

         (212) 208-3222

         mfitzgerald@ambac.com

Ambac Financial Group, Inc.

Source: Ambac Financial Group, Inc.

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