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SAN FRANCISCO (MarketWatch) - Ambac Inc. executives bought up a small portion of
171 million common shares priced by Ambac overnight, according to regulatory
filings from the bond insurer Friday. Chairman and Chief Executive Michael Callen
bought 25,000 shares at $6.75 a share while Chief Financial Officer Sean Leonard
bought 1,000 shares. A handful of other executives also bought a total of about
67,250 shares in the company. The company also amended its credit agreement to
allow funds from the public offering to be funneled to Ambac Assurance, according
to a separate filing.

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