X0303 5/A 2008-12-31 2009-01-26 0 0 0000874501 AMBAC FINANCIAL GROUP INC ABK 0001194137 BIENSTOCK GREGG L AMBAC FINANCIAL GROUP, INC. ONE STATE STREET PLAZA NEW YORK NY 10004 0 1 0 0 Senior Vice President Common Stock 2008-03-05 5 L 0 85 11.06 A 71994 D Common Stock 2008-06-04 5 L 0 48 3.22 A 72042 D Common Stock 2008-09-03 5 L 0 36 5.95 A 72078 D Common Stock 2008-12-03 5 L 0 149 1.44 A 72227 D Common Stock 4450 I Savings Plan Trust Small acquisition - previously exempt - dividend reinvestment of Ambac Financial Group, Inc. stock dividends. Amendment due to administrative error: miscalculation of 50 shares in the total amount of securities benefically owned at end of issuer's fiscal year. Small acquisition - previously exempt - dividend reinvestment of Ambac Financial Group, Inc. stock dividends. Small acquisition - previously exempt - dividend reinvestment of Ambac Financial Group, Inc. stock dividends. Small acquisition - previously exempt - dividend reinvestment of Ambac Financial Group, Inc. stock dividends. Based on a plan statement as of December 31, 2008. Patricia Lo Cascio, Attorney in Fact for Gregg L. Bienstock 2009-01-27