Exhibit 99.1

PLAN OF OPERATION FOR THE SEGREGATED ACCOUNT OF

AMBAC ASSURANCE CORPORATION

This Plan of Operation for the Segregated Account of Ambac Assurance Corporation (this Plan of Operation) sets forth the manner by which
Ambac Assurance Corporation (the Company) will establish and operate the Segregated Account of Ambac Assurance Corporation (the Segregated Account).



|I. | Establishment of Segregated Account
|-- | -----------------------------------

Subject to the approval of the Wisconsin Office of the Commissioner of Insurance (OCI), the Company will establish and operate the Segregated
Account as an optional segregated account pursuant to Wis. Stat. § 611.24(2), effective as of March 24, 2010. This Plan of Operation may be amended from time to time by the Board of Directors of the Company, subject to the approval of the
OCI.



|II. | Purpose of Segregated Account
|--- | -----------------------------

The
Company is establishing the Segregated Account for the purpose of segregating certain segments of its liabilities, and consenting to the subsequent rehabilitation of the Segregated Account under Chapter 645 of the Wisconsin Statutes. Following the
execution of an Order for Rehabilitation of the Segregated Account, the rehabilitator will assume control of the management of the Segregated Account for the purpose of conducting an orderly run-off and/or settlement of the policy and other
liabilities allocated to the Segregated Account in accordance with a Plan of Rehabilitation to be approved by the rehabilitation court pursuant to Section 645.33(5) of the Wisconsin Statutes (the Plan of Rehabilitation).



|III. | Management of the Segregated Account
|---- | ------------------------------------

Pursuant to the terms of the Management Services Agreement (the Management Services Agreement) attached hereto as Exhibit A, the Company will
be appointed as the Management Services Provider for the Segregated Account (the Management Services Provider) for so long as such agreement is in effect. Nothing in this Section prevents the Segregated Account from retaining additional
service providers to provide services in addition to those provided by the Management Services Provider.

In addition, pursuant to the terms
of a Cooperation Agreement (the Cooperation Agreement), the Company and the Segregated Account will agree to certain matters related to decision-making, information sharing, tax compliance and allocation of expenses, all as set forth in
the Cooperation Agreement. The form of the Cooperation Agreement is attached hereto as Exhibit B.



|IV. | Allocations to Segregated Account
|--- | ---------------------------------

Financial Guaranty Insurance Policies.A list of all financial guaranty insurance policies and surety bonds being allocated to the Segregated
Account (other than those covering student loans (which are addressed in clause 4 below) and those covering certain residential mortgage backed



---

securities (which are addressed in the paragraph following clause 4 below)) is attached hereto as Exhibit C. Policies being allocated to the Segregated Account include policies insuring or
relating to the following:



| | 1. | All credit default swaps with respect to which a forbearance agreement executed by the Company and OCI (among others) to temporarily forbear from collecting or
enforcing (or consenting to or directing the collection or enforcement of) claims against the Company or Ambac Credit Products, LLC (ACP) arising from termination or acceleration of the obligations of the Company or ACP based upon
commencement of the rehabilitation proceedings of the Segregated Account is not in full force and effect.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Residential mortgage backed securities.
| | -- | ---------------------------------------



| | 3. | Certain other identified policies expected to suffer material losses, which losses may or may not arise due to the occurrence of an early termination or a loss of
control rights arising from the rehabilitation of the Segregated Account.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | Certain student loan policies, as follows:
| | -- | ------------------------------------------



| | a. | Student loan policies identified on Exhibit D hereto will be allocated to the Segregated Account immediately upon establishment of the Segregated Account.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------



| | b. | Student loan policies identified on Exhibit E hereto shall initially remain in the Companys general account, but shall be subject to an assessment process. The
assessment shall begin following the entry of an Order for Rehabilitation with respect to the Segregated Account and shall continue for 180 days thereafter (the Assessment Period). During the Assessment Period and for a period of 90 days
thereafter, any such student loan policy may be allocated to the Segregated Account.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Any residential mortgage backed securities
not initially allocated to the Segregated Account shall be allocated thereto within 20 days following the establishment of the Segregated Account, subject to any necessary filings or approvals of the rehabilitation court. With the sole exception of
the policies described in the immediately preceding sentence and student loan policies described in clause 4b above, none of the Companys policies shall be subject to an assessment or allocated on an ad hoc or rolling basis into the Segregated
Account; provided, however, that clerical errors and oversights may be corrected with the consent of OCI and filed with or approved by the rehabilitation court as required.

Remediation.All remediation claims, defenses, offsets, and/or credits (except to the extent described in clause
(iv) of Section V -Collateral Security below), if any, in respect of policies allocated to the Segregated Account, whether now existing or hereafter arising, are allocated to the Segregated Account together with such
policies.

Lease with One State Street, LLC. The Company is allocating to the Segregated Account its disputed contingent liability, if
any, under the long-term lease with One State Street, LLC, effective January 1, 1992 and amended as of August 1, 1997.



2



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Liability as Guarantor of Ambac Assurance UK Limiteds lease with British Land.The Company is
allocating to the Segregated Account its contingent liability, if any, as guarantor of the obligations of Ambac Assurance UK Limited under its lease with British Land.

Ownership Interests. The Company is allocating to the Segregated Account its limited liability interest in ACP, Ambac Conduit Funding LLC,
Aleutian Investments LLC and Juneau Investments LLC.

Reinsurance Agreements.The Company is allocating to the Segregated Account all
liabilities assumed by the Company as reinsurer under the reinsurance agreements listed on Exhibit F attached hereto.



|V. | Provision for Capital and Surplus
|-- | ---------------------------------

The
Segregated Account will support the liabilities allocated to it with the following resources:

Secured Note.The Companys general
account will issue a secured note to the Segregated Account in the face amount of $2 billion dollars (the Secured Note). Under the terms of the Secured Note, the Segregated Account will be permitted to demand payment of note principal to
satisfy liabilities of the Segregated Account due and payable in respect of cash claim payments, payments on other liabilities allocated to the segregated account, administrative and operating expenses, loss settlements, commutation payments,
payments under surplus notes or contribution notes, if any, issued by the Segregated Account, and any other amounts directed or ordered to be paid by the rehabilitation court in conjunction with the rehabilitation proceeding, all as more fully set
forth in the Secured Note. The demand amount shall be reduced by the amount, as calculated by the Segregated Account, of the Segregated Accounts liquid assets available to pay such liabilities at such time. In no case will the Companys
general account have any liability to make any payment to the Segregated Account under the Secured Note to the extent that such payment would result in the surplus as regards policyholders of the Companys general account falling below $100
million (or such higher amount as determined by OCI pursuant to a prescribed accounting practice) and for any period during which the surplus as regards policyholders of the Companys general account is below such amount. The form of the
Secured Note is attached hereto as Exhibit G.

Aggregate Excess of Loss Reinsurance Agreement.The Companys general account will
issue an Aggregate Excess of Loss Reinsurance Agreement to the Segregated Account (the Reinsurance Agreement). Under the terms of the Reinsurance Agreement, the Companys general account will provide aggregate excess of loss
coverage equal to the liabilities of the Segregated Account due and payable in respect of cash claim payments, loss settlements, commutation payments, payments under surplus notes or contribution notes, if any, issued by the Segregated Account, and
any other amounts directed or ordered to be paid by the rehabilitation court in conjunction with the rehabilitation proceeding, all as more fully set forth in the Reinsurance Agreement. The amount of the reinsurance recoverable shall be reduced by
the amount, as calculated by the Segregated Account, of the Segregated Accounts liquid assets available to pay such liabilities at such time. In no case will the Companys general account have any liability to make any payment to the
Segregated Account under the Secured Note to the



3



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extent that such payment would result in the surplus as regards policyholders of the Companys general account falling below $100 million (or such higher amount as determined by OCI pursuant
to a prescribed accounting practice) and for any period during which the surplus as regards policyholders of the Companys general account is below such amount. Coverage under the Reinsurance Agreement will attach after all principal under the
Secured Note has been paid by the Companys general account. The form of the Reinsurance Agreement is attached hereto as Exhibit H.

Surplus Notes.In accordance with the terms of the Plan of Rehabilitation, the Companys general account may issue surplus or contribution
notes (Surplus Notes) to the holders of policies allocated to the Segregated Account to satisfy that portion of the claim liabilities due and payable under such policies which is not paid directly by the Segregated Account in cash or in
surplus notes or contribution notes of the Segregated Account.

Collateral Security.As security for the obligations of the
Companys general account to the Segregated Account, the Companys general account will grant a security interest to the Segregated Account in the following assets, as more fully set forth in the Secured Note and Reinsurance Agreement:

(i) installment premiums received in conjunction with policies allocated to the Segregated Account and premiums received under
reinsurance agreements;

(ii) reinsurance premiums received in respect of assumed reinsurance agreements with respect to which
the liabilities of the Company have been allocated to the Segregated Account;

(iii) recoveries under third party reinsurance
agreements covering losses on policies allocated to the Segregated Account; and

(iv) any recoveries arising from remediation
efforts or reimbursement or collection rights with respect to policies allocated to the Segregated Account.

All assets within the Segregated
Account will be available exclusively for satisfying liabilities attributable to the Segregated Account. The Company will ensure that all assets of the Segregated Account, including any income earned thereon, remain identifiable within the
Segregated Account. Pursuant to Wis. Stat. § 611.24(3)(b), any income, gains and losses, whether or not realized, from assets and investments attributable to the Segregated Account, if any, will be credited to or charged against the Segregated
Account without regard to other income, gains, or losses of the Companys general account.

In connection with its review and approval of
this Plan of Operation, OCI has determined that there is an adequate amount of capital and surplus in the Segregated Account pursuant to Wis. Stat. § 611.24(3)(a) and that the provisions for capital and surplus contemplated herein with respect
to the liabilities allocated to the Segregated Account constitute fair consideration within the meaning of Wis. Stat. § 645.03(d).



4



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|VI. | Charges and Expenses
|--- | --------------------

Pursuant to Wis.
Stat. § 611.24(3)(c), assets and investments allocated to the Segregated Account, if any, will be available and used solely to satisfy costs, expenses, charges, and liabilities attributable to the business placed therein. Such assets and
investments, if any, will not be charged with any costs, expenses, charges, or liabilities arising out of any other business of the Company, except as otherwise provided in the Secured Note or Reinsurance Agreement. Likewise, assets and investments
in the Companys general account will not be charged with any costs, expenses, charges, or liabilities arising out of the direct business allocated to the Segregated Account.

The Company will divide any expenses for which the Companys general account has not been compensated pursuant to the Management Services Agreement,
on such reasonable basis as the Rehabilitator and the Company shall mutually agree, between the Companys general account and the Segregated Account.

The Segregated Account may offset and recoup any balance or amount due from the Company to the Segregated Account.

Time is of the essence with respect to all payment obligations from the Company to the Segregated Account. No extension of time for performance of any
payment obligation shall be deemed an extension of time for performance of any other payment obligation.



|VII. | Financial Statements
|---- | --------------------

The Management
Services Provider will prepare periodic statutory financial statements for the Segregated Account commencing with the 2010 calendar year.



|VIII. | Dissolution; Merger
|----- | -------------------

Unless otherwise
previously dissolved or merged into the Companys general account, the Company will merge the Segregated Account into the Companys general account upon the final resolution of all liabilities attributable to the business allocated to the
Segregated Account, or upon order from the Commissioner.



5



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Exhibit A

Previously filed as Exhibit 10.22 to the Companys Annual Report on Form 10-K for the year ended December 31, 2009.



6



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Exhibit B

Previously filed as Exhibit 10.23 to the Companys Annual Report on Form 10-K for the year ended December 31, 2009.



7



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Exhibit C



|              |  |                    
|------------- |  | -------------------
|Policy Number |  | Identifier         
|SF0738BE      |  | 01448CAB6          
|SF0899BE      |  | 05357WAA5          
|SF0900BE      |  | 05357WAA5          
|SF0930BE      |  | XS0311291842       
|SF0930BE      |  | BCCOZNWK2          
|SF0862BE      |  | 05635AAA7          
|SF0857BE      |  | XS0277185400       
|SF0529BE      |  | 14308TAA4          
|SF0910BE      |  | 173109AD1          
|SF0934BE      |  | 17312HAD12         
|SF0862BE      |  | 18972AAA1          
|SF0687BE      |  | XS0205633620       
|SF0836BE      |  | IT0003872774       
|SF0906BE      |  | 345447BC9,345447BD7
|SF0938BE      |  | 345447AA4,345447AC0
|SF0859BE      |  | XS0272191528       
|SF0859BE      |  | XS0272191874       
|SF0916BE      |  | 67515LAG5          
|SF0917BE      |  | 67515LAG5          
|SF0904BE      |  | 67085PAA9          
|SF0886BE      |  | XS0289330028       
|SF0892BE      |  | 77426NAA1          
|SF0694BE      |  | 86175XAA3          
|SF0711BE      |  | 51506JAA8          
|SF0889BE      |  | 917926AC:          
|SF0888BE      |  | AU3FN0001558       
|SF0888BE      |  | AU3FN0001566       
|SF0882BE      |  | 92328WAA9          
|SF0953BE      |  | A-1 And A-2 Notes  
|SF0953BE      |  | B-1 And B-2 Notes  
|AB0767BE      |  |                    
|AB0951BE      |  |                    
|AB1018BE      |  |                    
|AB1048BE      |  |                    
|AB1089BE      |  |                    
|AB1096BE      |  |                    
|AB1112BE-A1   |  |                    
|AB1112BE-A2   |  |                    
|AB0035BE      |  |                    
|AB0039BE      |  |                    
|AB0167BE      |  |                    
|AB0204BE      |  |                    
|AB0217BE      |  |                    
|AB0240BE      |  |                    
|AB0243BE      |  |                    



8



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|------------- |  | ----------
|Policy Number |  | Identifier
|AB0248BE      |  |           
|AB0273BE      |  |           
|AB0274BE      |  |           
|AB0283BE      |  |           
|AB0294BE      |  |           
|AB0295BE      |  |           
|AB0312BE      |  |           
|AB0338BE      |  |           
|AB0345BE      |  |           
|AB0350BE      |  |           
|AB0351BE      |  |           
|AB0360BE      |  |           
|AB0370BE      |  |           
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|AB0422BE      |  |           
|AB0423BE      |  |           
|AB0433BE      |  |           
|AB0437BE      |  |           
|AB0447BE      |  |           
|AB0449BE      |  |           
|AB0450BE      |  |           
|AB0463BE      |  |           
|AB0469BE      |  |           
|AB0470BE      |  |           
|AB0471BE      |  |           
|AB0488BE      |  |           
|AB0489BE      |  |           
|AB0490BE      |  |           
|AB0492BE      |  |           
|AB0496BE      |  |           
|AB0498BE      |  |           
|AB0499BE      |  |           
|AB0504BE      |  |           
|AB0507BE      |  |           
|AB0515BE      |  |           
|AB0516BE      |  |           
|AB0517BE      |  |           
|AB0518BE      |  |           
|AB0524BE      |  |           
|AB0529BE      |  |           
|AB0531BE      |  |           
|AB0532BE      |  |           
|AB0538BE      |  |           



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|------------- |  | ----------
|Policy Number |  | Identifier
|AB0540BE      |  |           
|AB0541BE      |  |           
|AB0544BE      |  |           
|AB0545BE      |  |           
|AB0550BE      |  |           
|AB0550BE      |  |           
|AB0558BE      |  |           
|AB0561BE      |  |           
|AB0562BE      |  |           
|AB0572BE      |  |           
|AB0574BE      |  |           
|AB0581BE      |  |           
|AB0588BE      |  |           
|AB0593BE      |  |           
|AB0597BE      |  |           
|AB0600BE      |  |           
|AB0601BE      |  |           
|AB0605BE      |  |           
|AB0606BE      |  |           
|AB0610BE      |  |           
|AB0617BE      |  |           
|AB0618BE      |  |           
|AB0633BE      |  |           
|AB0636BE      |  |           
|AB0639BE      |  |           
|AB0641BE      |  |           
|AB0642BE      |  |           
|AB0643BE      |  |           
|AB0644BE      |  |           
|AB0646BE      |  |           
|AB0649BE      |  |           
|AB0650BE      |  |           
|AB0653BE      |  |           
|AB0655BE      |  |           
|AB0657BE      |  |           
|AB0662BE      |  |           
|AB0663BE      |  |           
|AB0670BE      |  |           
|AB0672BE      |  |           
|AB0674BE      |  |           
|AB0677BE      |  |           
|AB0678BE      |  |           
|AB0681BE      |  |           
|AB0683BE      |  |           
|AB0688BE      |  |           



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|------------- |  | ----------
|Policy Number |  | Identifier
|AB0691BE      |  |           
|AB0693BE      |  |           
|AB0696BE      |  |           
|AB0698BE      |  |           
|AB0699BE      |  |           
|AB0700BE      |  |           
|AB0701BE      |  |           
|AB0703BE      |  |           
|AB0704BE      |  |           
|AB0705BE      |  |           
|AB0707BE      |  |           
|AB0708BE      |  |           
|AB0710BE      |  |           
|AB0716BE      |  |           
|AB0718BE      |  |           
|AB0722BE      |  |           
|AB0725BE      |  |           
|AB0726BE      |  |           
|AB0727BE      |  |           
|AB0728BE      |  |           
|AB0732BE      |  |           
|AB0733BE      |  |           
|AB0734BE      |  |           
|AB0737BE      |  |           
|AB0739BE      |  |           
|AB0741BE      |  |           
|AB0742BE      |  |           
|AB0743BE      |  |           
|AB0745BE      |  |           
|AB0748BE      |  |           
|AB0751BE      |  |           
|AB0752BE      |  |           
|AB0753BE      |  |           
|AB0754BE      |  |           
|AB0758BE      |  |           
|AB0761BE      |  |           
|AB0763BE      |  |           
|AB0766BE      |  |           
|AB0769BE      |  |           
|AB0772BE      |  |           
|AB0774BE      |  |           
|AB0775BE      |  |           
|AB0777BE      |  |           
|AB0778BE      |  |           
|AB0783BE      |  |           



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|------------- |  | ----------
|Policy Number |  | Identifier
|AB0787BE      |  |           
|AB0789BE      |  |           
|AB0791BE      |  |           
|AB0792BE      |  |           
|AB0793BE      |  |           
|AB0794BE      |  |           
|AB0795BE      |  |           
|AB0797BE      |  |           
|AB0798BE      |  |           
|AB0799BE      |  |           
|AB0805BE      |  |           
|AB0806BE      |  |           
|AB0807BE      |  |           
|AB0808BE      |  |           
|AB0809BE      |  |           
|AB0810BE      |  |           
|AB0811BE      |  |           
|AB0813BE      |  |           
|AB0819BE      |  |           
|AB0820BE      |  |           
|AB0824BE      |  |           
|AB0826BE      |  |           
|AB0839BE      |  |           
|AB0840BE      |  |           
|AB0844BE      |  |           
|AB0845BE      |  |           
|AB0849BE      |  |           
|AB0850BE      |  |           
|AB0851BE      |  |           
|AB0854BE      |  |           
|AB0855BE      |  |           
|AB0856BE      |  |           
|AB0860BE      |  |           
|AB0861BE      |  |           
|AB0865BE      |  |           
|AB0867BE      |  |           
|AB0868BE      |  |           
|AB0869BE      |  |           
|AB0870BE      |  |           
|AB0877BE      |  |           
|AB0881BE      |  |           
|AB0883BE      |  |           
|AB0885BE      |  |           
|AB0886BE      |  |           
|AB0889BE      |  |           



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|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|AB0892BE      |  |           
|AB0893BE      |  |           
|AB0896BE      |  |           
|AB0897BE      |  |           
|AB0899BE      |  |           
|AB0905BE      |  |           
|AB0909BE      |  |           
|AB0913BE      |  |           
|AB0916BE      |  |           
|AB0917BE      |  |           
|AB0918BE      |  |           
|AB0920BE      |  |           
|AB0921BE      |  |           
|AB0922BE      |  |           
|AB0924BE      |  |           
|AB0925BE      |  |           
|AB0927BE      |  |           
|AB0928BE      |  |           
|AB0929BE      |  |           
|AB0930BE      |  |           
|AB0931BE      |  |           
|AB0936BE      |  |           
|AB0942BE      |  |           
|AB0944BE      |  |           
|AB0947BE      |  |           
|AB0949BE      |  |           
|AB0952BE      |  |           
|AB0955BE      |  |           
|AB0956BE      |  |           
|AB0957BE      |  |           
|AB0958BE      |  |           
|AB0959BE      |  |           
|AB0961BE      |  |           
|AB0967BE      |  |           
|AB0968BE      |  |           
|AB0970BE      |  |           
|AB0971BE      |  |           
|AB0972BE      |  |           
|AB0977BE      |  |           
|AB0978BE      |  |           
|AB0979BE      |  |           
|AB0982BE      |  |           
|AB0984BE      |  |           
|AB0985BE      |  |           
|AB0989BE      |  |           



13



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|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|AB0990BE      |  |           
|AB0995BE      |  |           
|AB0999BE      |  |           
|AB1003BE      |  |           
|AB1006BE      |  |           
|AB1009BE      |  |           
|AB1010BE      |  |           
|AB1011BE      |  |           
|AB1013BE      |  |           
|AB1014BE      |  |           
|AB1015BE      |  |           
|AB1019BE      |  |           
|AB1020BE      |  |           
|AB1021BE      |  |           
|AB1022BE      |  |           
|AB1023BE      |  |           
|AB1028BE      |  |           
|AB1031BE      |  |           
|AB1034BE      |  |           
|AB1035BE      |  |           
|AB1037BE      |  |           
|AB1039BE      |  |           
|AB1040BE      |  |           
|AB1043BE      |  |           
|AB1044BE      |  |           
|AB1045BE      |  |           
|AB1046BE      |  |           
|AB1047BE      |  |           
|AB1049BE      |  |           
|AB1051BE      |  |           
|AB1054BE      |  |           
|AB1055BE      |  |           
|AB1057BE      |  |           
|AB1060BE      |  |           
|AB1062BE      |  |           
|AB1063BE      |  |           
|AB1064BE      |  |           
|AB1065BE      |  |           
|AB1067BE      |  |           
|AB1068BE      |  |           
|AB1069BE(A)   |  |           
|AB1069BE(B)   |  |           
|AB1071BE      |  |           
|AB1072BE      |  |           
|AB1075BE(1)   |  |           



14



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|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|AB1075BE(2)   |  |           
|AB1075BE(3)   |  |           
|AB1076BE      |  |           
|AB1077BE      |  |           
|AB1078BE      |  |           
|AB1079BE      |  |           
|AB1080BE(1)   |  |           
|AB1080BE(2)   |  |           
|AB1081BE      |  |           
|AB1082BE      |  |           
|AB1088BE      |  |           
|AB1091BE      |  |           
|AB1094BE-1    |  |           
|AB1094BE-2    |  |           
|AB1099BE      |  |           
|AB103BE-1     |  |           
|AB103BE-2     |  |           
|AB1099BE      |  |           
|AB1103BE-1    |  |           
|AB1103BE-2    |  |           
|AB1105BE-1    |  |           
|AB1105BE-2    |  |           
|AB1110BE      |  |           
|AB1113BE      |  |           
|AB1116BE      |  |           
|BE000182      |  |           
|BE600152      |  |           
|SF0395BE      |  |           
|SF0730BE      |  |           
|SF0776BE      |  |           
|SF0797BE      |  |           
|SS0052BE      |  |           
|17548BE       |  |           
|SB1050BE      |  |           
|AB0903BE      |  |           
|AB1029BE-08   |  |           
|AB0842BE      |  |           
|AB0960BE      |  |           
|AB0991BE      |  |           
|AB0438BE      |  |           
|AB0530BE      |  |           
|AB0747BE      |  |           
|AB0907BE      |  |           
|AB0001BE      |  |           
|AB0003BE      |  |           
|AB0005BE      |  |           
|AB0006BE      |  |           
|AB0007BE      |  |           



15



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|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|JN0005BE      |  |           
|20049BE       |  |           
|AL000BE       |  |           
|FG0491BE      |  |           
|JN0003BE      |  |           
|AB0042BE      |  |           
|SW0029BE      |  |           
|SW0017BE      |  |           
|SW0036BE      |  |           
|SW0348BE      |  |           
|SW6067BE      |  |           
|SW0313BE      |  |           
|SW0350BE      |  |           
|AB1029BE-03   |  |           
|AB1029BE-04   |  |           
|AB1029BE-07   |  |           
|AB1029BE-09   |  |           
|AB1029BE-10   |  |           
|AB1029BE-11   |  |           
|AB1029BE-12   |  |           
|AB1029BE-13   |  |           
|AB1029BE-14   |  |           
|AB1029BE-15   |  |           
|AB1029BE-16   |  |           
|AB1029BE-17   |  |           
|AB1029BE-18   |  |           
|AB1029BE-21   |  |           
|AB1029BE-22   |  |           
|AB1029BE-23   |  |           
|AB1029BE-24   |  |           
|AB1029BE-25   |  |           
|AB1029BE-29   |  |           
|AB1029BE-30   |  |           
|AB1029BE-31   |  |           
|AB1029BE-34   |  |           
|AB1029BE-35   |  |           
|AB1029BE-36   |  |           
|AB1029BE-37   |  |           
|AB1107BE-01   |  |           
|AB1107BE-03   |  |           
|AB1107BE-05   |  |           
|SF0200BE      |  |           
|SF0201BE      |  |           
|SF0475BE      |  |           
|SF0476BE      |  |           



16



---

|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|SF0477BE      |  |           
|SF0003BE      |  |           
|SF0005BE      |  |           
|SF0007BE      |  |           
|SF0009BE      |  |           
|SF0011BE      |  |           
|SF0013BE      |  |           
|SF0430BE      |  |           
|SF0433BE      |  |           
|SF0030BE      |  |           
|SF0103BE      |  |           
|SF0104BE      |  |           
|SF0105BE      |  |           
|SF0106BE      |  |           
|SF0107BE      |  |           
|SF0293BE      |  |           
|SF0294BE      |  |           
|SF0295BE      |  |           
|SF0296BE      |  |           
|SF0429BE      |  |           
|SF0555BE      |  |           
|SF0556BE      |  |           
|SF0557BE      |  |           
|SF0022BE      |  |           
|SF0023BE      |  |           
|SF0029BE      |  |           
|SF0098BE      |  |           
|SF0298BE      |  |           
|SF0299BE      |  |           
|SF0300BE      |  |           
|SF0301BE      |  |           
|SF0353BE      |  |           
|SF0354BE      |  |           
|SF0355BE      |  |           
|SF0356BE      |  |           
|SF0357BE      |  |           
|SF0362BE      |  |           
|SF0363BE      |  |           
|SF0364BE      |  |           
|SF0365BE      |  |           
|SF0366BE      |  |           
|SF0410BE      |  |           
|SF0413BE      |  |           
|SF0414BE      |  |           
|SF0415BE      |  |           



17



---

|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|SF0416BE      |  |           
|SF0435BE      |  |           
|SF0436BE      |  |           
|SF0437BE      |  |           
|SF0503BE      |  |           
|SF0508BE      |  |           
|SF0509BE      |  |           
|SF0552BE      |  |           
|SF0553BE      |  |           
|SF0622BE      |  |           
|SF0624BE      |  |           
|SF0625BE      |  |           
|SF0627BE      |  |           
|SF0764BE      |  |           
|SF0770BE      |  |           
|SF0771BE      |  |           
|SF0772BE      |  |           
|SF0940BE      |  |           
|SW0241BE      |  |           
|SW0297BE      |  |           
|SW0341BE      |  |           
|SW0238BE      |  |           
|SW0294BE      |  |           
|SW0099BE-A    |  |           
|SW0131BE      |  |           
|SW0368BE      |  |           
|SW0369BE      |  |           
|SW0370BE      |  |           
|SW0240BE      |  |           
|SW0021BE      |  |           
|SW0028BE      |  |           
|SW0031BE      |  |           
|SW0041BE      |  |           
|SW0044BE      |  |           
|SW0045BE      |  |           
|SW0057BE      |  |           
|SW0060BE      |  |           
|SW0063BE      |  |           
|SW0065BE      |  |           
|SW0068BE      |  |           
|SW0069BE      |  |           
|SW0070BE      |  |           
|SW0073BE      |  |           
|SW0074BE      |  |           
|SW0075BE      |  |           



18



---

|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|SW0080BE      |  |           
|SW0084BE      |  |           
|SW0088BE      |  |           
|SW0090BE      |  |           
|SW0096BE      |  |           
|SW0102BE      |  |           
|SW0104BE      |  |           
|SW0108BE      |  |           
|SW0109BE      |  |           
|SW0113BE      |  |           
|SW0119BE      |  |           
|SW0120BE      |  |           
|SW0121BE      |  |           
|SW0122BE      |  |           
|SW0123BE      |  |           
|SW0125BE      |  |           
|SW0126BE      |  |           
|SW0130BE      |  |           
|SW0132BE      |  |           
|SW0133BE      |  |           
|SW0139BE      |  |           
|SW0141BE      |  |           
|SW0142BE      |  |           
|SW0143BE      |  |           
|SW0145BE      |  |           
|SW0147BE      |  |           
|SW0148BE      |  |           
|SW0156BE      |  |           
|SW0157BE      |  |           
|SW0160BE      |  |           
|SW0161BE      |  |           
|SW0163BE      |  |           
|SW0164BE      |  |           
|SW0165BE      |  |           
|SW0167BE      |  |           
|SW0178BE      |  |           
|SW0179BE      |  |           
|SW0184BE      |  |           
|SW0185BE      |  |           
|SW0186BE      |  |           
|SW0192BE      |  |           
|SW0194BE      |  |           
|SW0200BE      |  |           
|SW0201BE      |  |           
|SW0202BE      |  |           



19



---

|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|SW0203BE      |  |           
|SW0204BE      |  |           
|SW0207BE      |  |           
|SW0208BE      |  |           
|SW0209BE      |  |           
|SW0210BE      |  |           
|SW0211BE      |  |           
|SW0212BE      |  |           
|SW0218BE      |  |           
|SW0220BE      |  |           
|SW0221BE      |  |           
|SW0222BE      |  |           
|SW0224BE      |  |           
|SW0228BE      |  |           
|SW0230BE      |  |           
|SW0231BE      |  |           
|SW0232BE      |  |           
|SW0233BE      |  |           
|SW0234BE      |  |           
|SW0235BE      |  |           
|SW0245BE      |  |           
|SW0247BE      |  |           
|SW0248BE      |  |           
|SW0249BE      |  |           
|SW0255BE      |  |           
|SW0257BE      |  |           
|SW0260BE      |  |           
|SW0263BE      |  |           
|SW0264BE      |  |           
|SW0265BE      |  |           
|SW0266BE      |  |           
|SW0268BE      |  |           
|SW0270BE      |  |           
|SW0272BE      |  |           
|SW0273BE      |  |           
|SW0274BE      |  |           
|SW0275BE      |  |           
|SW0277BE      |  |           
|SW0279BE      |  |           
|SW0281BE      |  |           
|SW0285BE      |  |           
|SW0286BE      |  |           
|SW0287BE      |  |           
|SW0290BE      |  |           
|SW0296BE      |  |           
|SW0298BE      |  |           
|SW0299BE      |  |           



20



---

|              |  |           
|------------- |  | ----------
|Policy Number |  | Identifier
|SW0302BE      |  |           
|SW0304BE      |  |           
|SW0305BE      |  |           
|SW0307BE      |  |           
|SW0308BE      |  |           
|SW0309BE      |  |           
|SW0312BE      |  |           
|SW0314BE      |  |           
|SW0315BE      |  |           
|SW0318BE      |  |           
|SW0319BE      |  |           
|SW0320BE      |  |           
|SW0322BE      |  |           
|SW0323BE      |  |           
|SW0331BE      |  |           
|SW0333BE      |  |           
|SW0334BE      |  |           
|SW0335BE      |  |           
|SW0336BE      |  |           
|SW0337BE      |  |           
|SW0340BE      |  |           
|SW0342BE      |  |           
|SW0347BE      |  |           
|SW0351BE      |  |           
|SW0360BE      |  |           
|SW0361BE      |  |           
|SW0363BE      |  |           
|SW0371BE      |  |           
|SW0377BE      |  |           
|SW0379BE      |  |           
|SW0380BE      |  |           
|SW0381BE      |  |           
|SW0383BE      |  |           
|SW0384BE      |  |           
|SW0388BE      |  |           
|SW0390BE      |  |           
|SW0391BE      |  |           
|SW0394BE      |  |           
|SW0399BE      |  |           
|SW0400BE      |  |           
|SW0401BE      |  |           
|SW0407BE      |  |           



21



---

Exhibit D



|             
|-------------
|Policy Number
|24368BE      
|25599BE      
|AB1029BE-01  
|AB1029BE-02  
|AB1029BE-05  
|AB1029BE-06  
|AB1029BE-19  
|AB1029BE-20  
|AB1029BE-32  
|AB1107BE-02  



22



---

Exhibit E



|              |  |            
|------------- |  | -----------
|Policy Number |  | Identifiers
|128158BE      |  |            
|13727BE       |  |            
|13728BE       |  |            
|15086BE       |  |            
|15250BE       |  |            
|15301BE       |  |            
|15327BE       |  |            
|15502BE       |  |            
|15748BE       |  |            
|16176BE       |  |            
|16204BE       |  |            
|16267BE       |  |            
|16635BE       |  |            
|16786BE       |  |            
|16899BE       |  |            
|17206BE       |  |            
|17307BE       |  |            
|17459BE       |  |            
|17769BE       |  |            
|17878BE       |  |            
|18018BE       |  |            
|18052BE       |  |            
|18254BE       |  |            
|18400BE       |  |            
|18515BE       |  |            
|19194BE       |  |            
|19301BE       |  |            
|19389BE       |  |            
|19699BE       |  |            
|20004BE       |  |            
|20625BE       |  |            
|20647BE       |  |            
|20733BE       |  |            
|20988BE       |  |            
|21014BE       |  |            
|21018BE       |  |            
|21066BE       |  |            
|21077BE       |  |            
|21032BE       |  |            
|22019BE       |  |            
|22110BE       |  |            
|22581BE       |  |            
|22734BE       |  |            
|23243BE       |  |            
|23295BE       |  |            
|23838BE       |  |            
|24135BE       |  |            
|24223BE       |  |            
|24612BE       |  |            
|24624BE       |  |            
|24841BE       |  |            



23



---

|             |  |            
|------------ |  | -----------
|PolicyNumber |  | Identifiers
|25332BE      |  |            
|25425BE      |  |            
|25534BE      |  |            
|25535BE      |  |            
|25621BE      |  |            
|25844BE      |  |            
|26053BE      |  |            
|26437BE      |  |            
|26620BE      |  |            
|26621BE      |  |            
|26622BE      |  |            
|26702BE      |  |            
|26849BE      |  |            
|27243BE      |  |            
|AB0591BE     |  |            
|AB0616BE     |  |            
|AB0632BE     |  |            
|AB0676BE     |  |            
|AB0721BE     |  |            
|AB0770BE     |  |            
|AB0821BE     |  |            
|AB0859BE     |  |            
|AB0900BE     |  |            
|AB0933BE     |  |            
|AB0987BE     |  |            
|AB0994BE     |  |            
|AB1001BE     |  |            
|AB1004BE     |  |            
|BE111763     |  |            
|BE112771     |  |            
|BE114100     |  |            
|BE114118     |  |            
|BE114617     |  |            
|BE116269     |  |            
|BE123661     |  |            
|BE123670     |  |            
|BE124152     |  |            
|BE127783     |  |            
|BE132458     |  |            
|BE302959     |  |            
|BE303100     |  |            
|BE303119     |  |            
|BE303903     |  |            
|BE303917     |  |            
|BE303976     |  |            
|BE533166     |  |            
|FG0404BE     |  |            
|S17784BE     |  |            
|SF0306BE     |  |            
|SB0585BE     |  |            
|SB0807BE     |  |            



24



---

|              |  |            
|------------- |  | -----------
|Policy Number |  | Identifiers
|SB0875BE      |  |            
|SB0971BE      |  |            
|SB1022BE      |  |            
|SB1093BE      |  |            
|SB1142BE      |  |            
|SB1170BE      |  |            
|SB1208BE      |  |            
|SB1230BE      |  |            
|SB1230BE-2004 |  |            
|SB1252BE      |  |            
|SB1321BE      |  |            
|SB1362BE      |  |            
|SB1398BE      |  |            
|SB1502BE      |  |            
|SB1565BE      |  |            
|SB1593BE      |  |            
|SB1615BE      |  |            
|SB1648BE      |  |            
|SB1808BE      |  |            
|SB19512BE     |  |            
|SB2170BE      |  |            
|SB2203BE      |  |            
|SB2269BE      |  |            
|SB2303BE      |  |            
|SB2330BE      |  |            
|SB2340BE      |  |            
|SB2434BE      |  |            
|SB2572BE      |  |            
|013623BE      |  |            
|23539BE       |  |            
|BE118025      |  |            
|BE126070      |  |            
|BE530025      |  |            
|15108BE       |  |            
|25218BE       |  |            
|26052BE       |  |            
|BE125883      |  |            
|BE556710      |  |            
|17523BE       |  |            
|21346BE       |  |            
|AB0932BE      |  |            
|AB1033BE      |  |            
|AB1114BE      |  |            
|AB1115BE      |  |            
|BE105823      |  |            
|SF0749BE      |  | 63543TAE8  
|SF0724BE      |  | 63543PBU9  
|SF0949BE      |  | 63543VAB9  



25



---

Exhibit F

Reinsurance Agreements under which Ambac Assurance Corporation has assumed liability as reinsurer.



| | 1) | Amended and Restated Excess SIPC Surety Bond Excess of Loss Reinsurance Contract, dated as of February 16, 2008(amending and restating in its entirely the Excess
SIPC Surely Bond Excess of Loss Reinsurance Contract, effective as of February 16, 2005), among Customer Asset Protection Company, Ambac Assurance Corporation and Assured Guaranty Corp.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2) | Financial Guaranty Master Facultative Reinsurance Agreement, dated as of January 1, 2008, between Assured Guaranty Corp, and Ambac Assurance Corporation
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3) | Facultative Reinsurance Agreement, dated as of April 27, 2006, between financial Guaranty Insurance Company and Ambac Assurance Corporation
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------



| | 4) | Risk Sharing Agreement Basic Terms and Conditions, dated as of December 8, 1998, among Ambac Assurance Corporation, MBIA Insurance Corporation and Radian Asset
Assurance Inc.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5) | Facultative Reinsurance Agreement, dated December 9, 2002, between Radian Asset Assurance Inc. and Ambac Assurance Corporation
| | -- | ------------------------------------------------------------------------------------------------------------------------------



| | 6) | Facultative Reinsurance Agreement, dated December 19, 2002, between Radian Asset Assurance Inc. and Ambac Assurance Corporation
| | -- | -------------------------------------------------------------------------------------------------------------------------------



| | 7) | Risk Sharing Agreement Basic Terms and Conditions, dated as of May 30, 2001, between Ambac Assurance Corporation and Radian Asset Assurance Inc.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------



| | 8) | Amended and Restated 1997 Reinsurance Agreement as of November 17, 2009, between Ambac Assurance UK Limited and Ambac Assurance Corporation
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------



26



---

Exhibit G

Previously filed as Exhibit 10.25 to the Companys Annual Report on Form 10-K for the year ended December 31, 2009.



27



---

Exhibit H

Previously filed as Exhibit 10.24 to the Companys Annual Report on Form 10-K for the year ended December 31, 2009.



28