Bronstein, Gewirtz & Grossman, LLC Announces That a Class Action Has Been Filed Against Ambac Financial Group, Inc.

NEW YORK, NY--(Marketwire - February 14, 2008) - Bronstein, Gewirtz & Grossman, LLC announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock Ambac Financial Group, Inc. ("ABK") (NYSE: ABK) The class consists of purchasers of the ABK common stock for the period October 19, 2005 through and including November 26, 2007.

The complaint alleges that during the class period mentioned above, ABK and some of its officers and directors violated federal securities laws by issuing materially false and misleading statements that artificially inflated the stock price.

If you purchased ABK common stock between October 19, 2005 through and including November 26, 2007 and sustained losses and would like to discuss this action or if you have any questions regarding this notice or your rights as a potential class member or lead plaintiff you may contact: Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. If you wish to serve as lead plaintiff, you must move to court no later than March 17, 2008.

Bronstein Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, private securities offerings, and securities arbitration.

Contact Information: Contact: Eitan Kimelman Bronstein, Gewirtz & Grossman, LLC 212-697-6484