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To: Smiling Bob who wrote (107050)	2/27/2008 2:59:37 PM
From: Paul Kern	Read Replies (1) \| Respond to of 306849

GS is excited about something Goldman Sachs Cut Ambac Stake To 2.3% As Of Dec 31 >ABK Last update: 2/27/2008 2:13:06 PM DOW JONES NEWSWIRES Goldman Sachs Asset Management LP, a unit of Goldman Sachs Group Inc. (GS), on Wednesday reported that its stake in Ambac Financial Group Inc. (ABK) fell to 2.3% as of Dec. 31. Goldman Sachs held 6.6 million Ambac shares, or a 6.5% stake, as of Sept. 30. As of Dec. 31, Goldman Sachs held about 2.4 million shares of the bond insurer, according to a filing Wednesday with the Securities and Exchange Commission. Goldman Sachs reported its stake on a Schedule 13G, an SEC document for passive investors - those not seeking to change or influence a company's operations. Such filers aren't required to provide a reason for any changes in stake and don't have to disclose any transactions to the SEC. Shares of Ambac traded Wednesday at $11.90, down 29 cents. The shares hit a 52-week low of $4.50 on Jan. 17; the 52-week high is $96.10 on May 18. -Denise Jia, Dow Jones Newswires; 202-862-1359; denise.jia@dowjones.com (END) Dow Jones Newswires February 27, 2008 14:13 ET (19:13 GMT)