ABK Ambac Financial Grp. Common Stock

Ambac Financial Group, Inc., (NYSE:ABK), through its philanthropic efforts, surpassed a major milestone this week by raising more than $1 million for The Children's Village. For more than 150 years, this dynamic organization has been dedicated to serving New York's most vulnerable youth. Ambac was honored by supporters of the Village at their 2006 annual dinner, "A Circle of Friends," on May 4, 2006. Robert J. Genader, Ambac President and Chief Executive Officer, accepted the corporate award. "We are proud to be associated with Children's Village and are delighted to receive this award. However, the recognition really goes to all of our friends and colleagues who have contributed to Ambac reaching this goal. Together, we are truly making a difference." Mr. Genader continued, "Ambac believes that giving back to the communities we serve provides value to society. Our 35 years in public and private sector finance have given us a heightened awareness of the benefit received when young people have the opportunity to reach their potential." The Children's Village, located in Dobbs Ferry, NY, was founded in 1851. The Village serves more than 5,000 of New York's most at-risk children. Through residential and community-based programs, the Village helps young people who are struggling become productive, independent citizens who will enrich and contribute to their communities and their future. 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 leading guarantor of public finance and structured finance obligations, 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 Financial Group, Inc. common stock is listed on the New York Stock Exchange (ticker symbol ABK).