##### 



Exhibit 99.1
 NEWS FOR IMMEDIATE RELEASE
 March 11, 2008
 
 
   Comparison of Fourth Quarter Results
    Valuation allowance on Deferred Tax Assets in Fourth Quarter




---



##### 



Comparison of Twelve Month Results
    Fourth Quarter and Twelve Month Results and Statistics by Segment
 Cruise
 Three Months
    
    Twelve MonthsEnded December 31, 2007
    
    Ended December 31, 2007Majestic
    
    Windstar
    
    Majestic
    
    Windstar *(unaudited)
    
    (unaudited)Statistical Information:Passengers Carried
    
    
    8,413
    
    
    
    5,826
    
    
    
    35,677
    
    
    
    20,325Occupancy Percentage
    
    
    84.6
    %
    
    
    89.7
    %
    
    
    83.5
    %
    
    
    93.3
    %Passenger Cruise Days
    
    
    57,097
    
    
    
    44,030
    
    
    
    237,304
    
    
    
    148,197APCD
    
    
    67,467
    
    
    
    49,112
    
    
    
    284,269
    
    
    
    158,844APD
    
    $
    284
    
    
    $
    243
    
    
    $
    307
    
    
    $
    295
 
 *
    
    Represents nine months statistics since Windstar was acquired in April 2007




---



##### 



Three Months
    
    Three MonthsEnded December 31, 2007
    
    Ended December 31, 2006Majestic
    
    Windstar
    
    Majestic
    
    Windstar(unaudited)
    
    (unaudited)Revenue
    
    $
    19,260
    
    
    $
    17,128
    
    
    $
    17,575
    
    
    
    N/AOperating Loss
    
    
    (8,968
    )
    
    
    (3,223
    )
    
    
    (4,501
    )
    
    
    N/APretax Loss
    
    
    (9,379
    )
    
    
    (3,361
    )
    
    
    (4,955
    )
    
    
    N/A
  Passengers
    
    
    
    
    
    
    Net TicketCarried
    
    
    APD
    
    
    Revenue(unaudited)Delta Queen
    
    
    5,587
    
    
    $
    262
    
    
    $
    9,970American Queen
    
    
    15,765
    
    
    
    275
    
    
    
    27,218Total Mississippi River
    
    
    21,352
    
    
    $
    272
    
    
    $
    37,188Columbia Queen
    
    
    3,845
    
    
    $
    324
    
    
    $
    8,732Queen of the West
    
    
    5,114
    
    
    
    363
    
    
    
    12,907Total Columbia River
    
    
    8,959
    
    
    $
    348
    
    
    $
    21,639Empress of the North
    
    
    4,908
    
    
    $
    377
    
    
    $
    13,131




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##### 



Empress of the North
  Wind Star
 Wind Spirit
  As of March 4, 2008Majestic
    
    
    Windstar(unaudited)Cruise Booking Trend:Passengers Booked
    
    
    19,547
    
    
    
    20,195APD
    
    $
    383
    
    
    $
    316
  Passengers
    
    
    
    
    
    
    Net TicketBooked
    
    
    APD
    
    
    Revenue(unaudited)Delta Queen:2008
    
    
    4,220
    
    
    $
    369
    
    
    $
    11,9552007
    
    
    2,773
    
    
    
    332
    
    
    $
    6,242Increase (decrease)
    
    
    1,447
    
    
    $
    37
    
    
    
    5,713Percentage change
    
    
    52.2
    %
    
    
    11.1
    %
    
    
    91.5
    %American Queen:2008
    
    
    8,607
    
    
    $
    383
    
    
    $
    22,6942007
    
    
    7,265
    
    
    
    320
    
    
    
    14,420Increase (decrease)
    
    
    1,342
    
    
    $
    63
    
    
    
    8,274Percentage change
    
    
    18.5
    %
    
    
    19.6
    %
    
    
    57.4
    %Total Mississippi River:2008
    
    
    12,827
    
    
    $
    378
    
    
    $
    34,6492007
    
    
    10,038
    
    
    
    324
    
    
    
    20,662Increase (decrease)
    
    
    2,789
    
    
    $
    54
    
    
    
    13,987Percentage change
    
    
    27.8
    %
    
    
    16.7
    %
    
    
    67.7
    %Columbia Queen:2008
    
    
    1,584
    
    
    $
    398
    
    
    $
    4,4182007
    
    
    1,412
    
    
    
    349
    
    
    
    3,449Increase (decrease)
    
    
    172
    
    
    $
    49
    
    
    
    969Percentage change
    
    
    12.2
    %
    
    
    14.0
    %
    
    
    28.1
    %




---



##### 



Passengers
    
    
    
    
    
    
    Net TicketBooked
    
    
    APD
    
    
    Revenue(unaudited)Queen of the West:2008
    
    
    2,705
    
    
    $
    408
    
    
    $
    7,7162007
    
    
    3,235
    
    
    
    428
    
    
    
    9,679Increase (decrease)
    
    
    (530
    )
    
    $
    (20
    )
    
    
    (1,963
    )Percentage change
    
    
    (16.4
    %)
    
    
    (4.7
    %)
    
    
    (20.3
    %)Total Columbia River:2008
    
    
    4,289
    
    
    $
    404
    
    
    $
    12,1342007
    
    
    4,647
    
    
    
    407
    
    
    
    13,128Increase (decrease)
    
    
    (358
    )
    
    $
    (3
    )
    
    
    (994
    )Percentage change
    
    
    (7.7
    %)
    
    
    (0.7
    %)
    
    
    (7.6
    %)Empress of the North:2008
    
    
    2,431
    
    
    $
    375
    
    
    $
    6,6472007
    
    
    4,560
    
    
    
    425
    
    
    
    13,771Increase (decrease)
    
    
    (2,129
    )
    
    $
    (50
    )
    
    
    (7,124
    )Percentage change
    
    
    (46.7
    %)
    
    
    (11.8
    %)
    
    
    (51.7
    %)
 Marine
 Three MonthsEnded December 31,2007
    
    2006(unaudited)Revenue
    
    $
    39,188
    
    
    $
    27,469Operating Income
    
    
    3,246
    
    
    
    2,365Pretax Income
    
    
    3,154
    
    
    
    2,036
 As of December 31,2007
    
    2006(unaudited)Marine Backlog
    
    $
    66,704
    
    
    $
    72,447
 Travel and Events
 Three MonthsEnded December 31,2007
    
    2006(unaudited)Revenue
    
    $
    3,181
    
    
    $
    2,299Operating Loss
    
    
    (196
    )
    
    
    (1,148
    )Pretax Income (Loss)
    
    
    (81
    )
    
    
    1,936




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##### 



Cruise Related Terminology
 Available Passenger Cruise Days (APCD)
  Occupancy Percentage
  Passenger Cruise Days
  Average Per Diem (APD)
  Net Ticket Revenue
  Conference Call
 www.ambassadors.com. www.ambassadors.com.
 About Ambassadors International, Inc.
  Forward-Looking Statements




---



##### 



Additional Information




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##### 



Three Months
    
    
    Twelve MonthsEnded December 31
    
    
    Ended December 312007
    
    
    2006
    
    
    2007
    
    
    2006(unaudited)Revenues:Passenger ticket revenue
    
    $
    31,288
    
    
    $
    16,451
    
    
    $
    131,796
    
    
    $
    67,451Onboard and other cruise revenue
    
    
    5,100
    
    
    
    1,124
    
    
    
    16,895
    
    
    
    8,216Marine revenue
    
    
    39,188
    
    
    
    27,469
    
    
    
    123,221
    
    
    
    46,614Travel, incentive and event related
    
    
    3,181
    
    
    
    2,299
    
    
    
    14,511
    
    
    
    13,143Net insurance premiums earned
    
    
    (324
    )
    
    
    1,487
    
    
    
    582
    
    
    
    8,84878,433
    
    
    
    48,830
    
    
    
    287,005
    
    
    
    144,272Costs and operating expenses:Cruise operating expenses
    
    
    33,695
    
    
    
    15,476
    
    
    
    118,252
    
    
    
    48,943Cost of marine revenue
    
    
    29,772
    
    
    
    20,469
    
    
    
    94,029
    
    
    
    34,516Selling and tour promotion
    
    
    5,164
    
    
    
    4,912
    
    
    
    25,980
    
    
    
    12,189General and administrative
    
    
    17,712
    
    
    
    10,439
    
    
    
    57,140
    
    
    
    34,321Depreciation and amortization
    
    
    3,088
    
    
    
    1,524
    
    
    
    11,010
    
    
    
    4,224Loss and loss adjustment expenses
    
    
    (136
    )
    
    
    922
    
    
    
    387
    
    
    
    5,249Insurance acquisition costs and other operating expenses
    
    
    (14
    )
    
    
    640
    
    
    
    639
    
    
    
    3,56489,281
    
    
    
    54,382
    
    
    
    307,437
    
    
    
    143,006Operating (loss) income
    
    
    (10,848
    )
    
    
    (5,552
    )
    
    
    (20,432
    )
    
    
    1,266Other income (expense):Interest and dividend income
    
    
    656
    
    
    
    1,128
    
    
    
    3,625
    
    
    
    3,823Interest expense
    
    
    (2,053
    )
    
    
    (1,407
    )
    
    
    (7,330
    )
    
    
    (3,500
    )Realized gains (losses) on sale of available-for-sale securities
    
    
    
    
    
    
    
    
    
    
    (48
    )
    
    
    1,085Other, net
    
    
    (86
    )
    
    
    3,227
    
    
    
    274
    
    
    
    3,296(1,483
    )
    
    
    2,948
    
    
    
    (3,479
    )
    
    
    4,704Income (loss) before provision (benefit) for income taxes
    
    
    (12,331
    )
    
    
    (2,604
    )
    
    
    (23,911
    )
    
    
    5,970Provision (benefit) for income taxes
    
    
    12,138
    
    
    
    (693
    )
    
    
    2,968
    
    
    
    343Net (loss) income
    
    $
    (24,469
    )
    
    $
    (1,911
    )
    
    $
    (26,879
    )
    
    $
    5,627Earnings (loss) per share:Basic
    
    $
    (2.26
    )
    
    $
    (0.17
    )
    
    $
    (2.48
    )
    
    $
    0.53Diluted
    
    $
    (2.26
    )
    
    $
    (0.17
    )
    
    $
    (2.48
    )
    
    $
    0.49Weighted-average common shares outstanding:Basic
    
    
    10,824
    
    
    
    11,077
    
    
    
    10,838
    
    
    
    10,668Diluted
    
    
    10,824
    
    
    
    11,077
    
    
    
    10,838
    
    
    
    11,445




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##### 



Three Months
    
    
    Twelve MonthsEnded December 31,
    
    
    Ended December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006(unaudited)Segment Information (in thousands):Revenue:Cruise
    
    $
    36,388
    
    
    $
    17,575
    
    
    $
    148,691
    
    
    $
    75,667Marine
    
    
    39,188
    
    
    
    27,469
    
    
    
    123,221
    
    
    
    46,614Travel and Events
    
    
    3,181
    
    
    
    2,299
    
    
    
    14,511
    
    
    
    13,143Corporate and Other
    
    
    (324
    )
    
    
    1,487
    
    
    
    582
    
    
    
    8,848$
    78,433
    
    
    $
    48,830
    
    
    $
    287,005
    
    
    $
    144,272Operating Income (Loss):Cruise
    
    $
    (12,191
    )
    
    $
    (4,501
    )
    
    $
    (24,045
    )
    
    $
    2,783Marine
    
    
    3,246
    
    
    
    2,365
    
    
    
    8,567
    
    
    
    3,567Travel and Events
    
    
    (196
    )
    
    
    (1,148
    )
    
    
    1,467
    
    
    
    1,036Corporate and Other
    
    
    (1,707
    )
    
    
    (2,268
    )
    
    
    (6,421
    )
    
    
    (6,120
    )$
    (10,848
    )
    
    $
    (5,552
    )
    
    $
    (20,432
    )
    
    $
    1,266Pre-tax Income (Loss):Cruise
    
    $
    (12,740
    )
    
    $
    (4,955
    )
    
    $
    (26,311
    )
    
    $
    315Marine
    
    
    3,154
    
    
    
    2,036
    
    
    
    7,972
    
    
    
    3,095Travel and Events
    
    
    (81
    )
    
    
    1,936
    
    
    
    1,955
    
    
    
    4,681Corporate and Other
    
    
    (2,664
    )
    
    
    (1,621
    )
    
    
    (7,527
    )
    
    
    (2,121
    )$
    (12,331
    )
    
    $
    (2,604
    )
    
    $
    (23,911
    )
    
    $
    5,970




---



##### 



December 31,
    
    
    December 31,2007
    
    
    2006Assets:Current assets:Cash and cash equivalents
    
    $
    21,998
    
    
    $
    8,246Restricted cash
    
    
    31,084
    
    
    
    11,127Available-for-sale securities
    
    
    2,514
    
    
    
    37,807Accounts receivables and other receivables, net
    
    
    40,798
    
    
    
    25,077Costs in excess of billings on construction contracts
    
    
    8,410
    
    
    
    7,061Premiums receivable
    
    
    10,188
    
    
    
    14,549Deferred policy acquisition costs
    
    
    
    
    
    
    330Reinsurance recoverable
    
    
    1,148
    
    
    
    2,152Prepaid reinsurance premiums
    
    
    
    
    
    
    252Inventory
    
    
    5,751
    
    
    
    3,383Deferred income taxes
    
    
    1,262
    
    
    
    1,606Prepaid costs and other current assets
    
    
    8,530
    
    
    
    9,018Total current assets
    
    
    131,683
    
    
    
    120,608Property and equipment, net
    
    
    219,793
    
    
    
    118,630Goodwill
    
    
    9,181
    
    
    
    9,181Other intangibles
    
    
    11,152
    
    
    
    3,409Deferred income taxes
    
    
    
    
    
    
    297Other assets
    
    
    4,680
    
    
    
    3,795Total assets
    
    $
    376,489
    
    
    $
    255,920Liabilities:Current liabilities:Accounts payable
    
    $
    36,564
    
    
    $
    18,270Participant and passenger deposits
    
    
    47,067
    
    
    
    17,622Accrued and other expenses
    
    
    16,175
    
    
    
    10,656Billings in excess of costs on construction contracts
    
    
    13,108
    
    
    
    4,334Loss and loss adjustment expense reserves
    
    
    6,674
    
    
    
    11,826Unearned premiums
    
    
    
    
    
    
    1,220Deferred gain on retroactive reinsurance
    
    
    
    
    
    
    19Current portion of long term debt
    
    
    5,479
    
    
    
    4,417Total current liabilities
    
    
    125,067
    
    
    
    68,364Long term debt, net of current portion and discount
    
    
    161,584
    
    
    
    71,779Deferred tax liabilities  long-term
    
    
    1,676
    
    
    
    Long-term passenger and participant deposits
    
    
    35
    
    
    
    40Total liabilities
    
    
    288,362
    
    
    
    140,183Stockholders equity
    
    
    88,127
    
    
    
    115,737Total liabilities and stockholders equity
    
    $
    376,489
    
    
    $
    255,920