On October 6, 2008, Ambac Financial Group, Inc. ("Ambac") issued a press release (dated October 3, 2008) announcing selected pre-tax financial data for the month of August 2008. A copy of the press release, filed as Exhibit 99.01 to this Current Report on Form 8-K, is incorporated by reference herein.

Certain statements in this document and the exhibit are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Ambac's filings with the Securities and Exchange Commission.

(d) Exhibits.

Exhibit
Number      Item
99.01       Press release, dated October 3, 2008, issued by Ambac Financial Group, Inc.