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Ambac Financial Group, Inc. 5.95% Debentures due February 28, 2103

BANKRUPT

Ticker: AKF

Parent Ticker: AMBC

OTC Grey Market Temporary Ticker:

Issuance Date: 02/28/2003

1st Call Date: 02/28/2028

Maturity Date: 02/28/2103

Shares Issued: 8,000,000

Overallotment Shares: 0

Coupon: 5.95%

Face Value: $25.00

Cumulative:

Qualified:

Quarterly Dividend Amount:

Payment Months: MAR, JUN, SEP, DEC

Payment Day: 30

S&P Rating:

III Rating (In Regards to Dividend Safety Only): F

Moody Rating: