Company Profile For Ambac Financial Group, Inc.

Ambac Financial Group, Inc. is a primarily a holding company. The Company, through its subsidiaries, provides financial guarantees and financial services to clients in both the public and private sectors worldwide. Ambac’s activities are divided into two business segments. The Financial Guarantee segment provides financial guarantees (including credit derivatives) for public finance, structured finance and other obligations. The Financial Services segment provided investment agreements, funding conduits, interest rate, total return and currency swaps, principally to clients of the financial guarantee business. During the year ended December 31, 2008, the Company discontinued writing new investment agreements and derivative products in its Financial Services segment. Its existing investment agreement and derivative product portfolios are in active runoff, which may include transaction terminations, settlements, restructuring, transfers and natural attrition as contracts mature.

BRIEF: For the six months ended 30 June 2009, Ambac Financial Group, Inc.'s revenues totaled $655.1M vs. a negative revenue of $230.8M. Net loss totaled $2.76B, up from $837.2M. Revenues reflect the presence of unrealized gains on change in fair value of credit derivatives. Net loss reflects an increase in the losses & loss expenses, higher underwriting & operating expenses and an increase in the corporate interest expenses.