November 6, 2013

Ambac Schedules Earnings Call

NEW YORK, Nov. 6, 2013 (GLOBE NEWSWIRE) -- Ambac Financial Group, Inc. (Nasdaq:AMBC) ("Ambac") today announced it would issue its earnings release and operating supplement containing third quarter financial results before the market opens on November 14, 2013. Following their release, a conference call will be held at 8:00 a.m. (ET) to discuss the quarter's results and current initiatives.

The earnings release and operating supplement will be available through the Investor Relations section of Ambac's website, http://ir.ambac.com, at the time of their release.

Ambac's conference call will be accessible via telephone and webcast.

Webcast participants may access the call through the Investor Relations section of Ambac's website, http://ir.ambac.com/events.cfm.

The dial-in number for Ambac's conference call is 877-737-7051 or 201-689-8878 (International). Callers have the option of pre-registering for the call at http://services.incommconferencing.com/DiamondPassRegistration/register?confirmationNumber=13572637&linkSecurityString=e8fd60a. Pre-registrants will be issued a PIN to use when dialing into the live call which will provide faster access to the conference by bypassing the operator upon connection.

A replay of the call will be available at 877-660-6853 or 201-612-7415 (International); conference ID # 13572633 until November 28, 2013. The webcast will also be archived on Ambac's website for one year.

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.

CONTACT: Michael Fitzgerald

         (212) 208-3222

         mfitzgerald@ambac.com

Ambac Financial Group, Inc.

Source: Ambac Financial Group, Inc.

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