Ambac Auction Sees Initial Result Of 27.5

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Ambac Auction Sees Initial Result Of 27.5

The first round of bidding on the Ambac Assurance Corp. auction landed at 27.5 this morning, according to a Web site jointly run by Markit Partners and Creditex. This means protection sellers will likely have to pay out around USD0.725 on the dollar for credit default swaps sold on the holding company that triggered the CDS in March.

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