Ambassadors Group, Inc. (NASDAQ: EPAX) (?Company?), a leading provider of educational travel experiences, announced today that its board of directors approved the purchase of 1,200,001 shares of the Company's common stock, at $27.46 dollars per share for a total purchase price of approximately $33.0 million, from Invemed Catalyst Fund, L.P. The board of directors approved this single purchase opportunity with Invemed Catalyst Fund, L.P. independent from the Company's current share repurchase program approved by the board of directors in May 2004 and increased in August 2005 and November 2006. The total amount authorized for repurchase under the Company's share repurchase plan is $25 million. The Company has already repurchased shares for approximately $19.5 million, and approximately $5.5 million remains available for repurchase under the Company's share repurchase plan.

Jeff Thomas, president and chief executive officer of Ambassadors Group, Inc., stated, ?The purchase of the shares held by Invemed Catalyst Fund, L.P. emphasizes our continued commitment to delivering increased value to our shareowners and enhances the long term value of our organization.?

Business overview

Ambassadors Group, Inc. is a leading educational travel organization that organizes and promotes international and domestic programs for students, athletes, and professionals. These programs provide the opportunities for grade school, junior, and senior high school students to visit foreign and domestic destinations to learn about the history, government, economy and culture of such areas, as well as for junior and senior high school athletes to participate in international sports challenges. Our professional programs emphasize meetings and seminars between participants and persons in similar professions abroad. We are headquartered in Spokane, Washington, with associates also in Denver, Colorado and Washington, D.C. In this press release, ?Company,? ?we,? ?us,? and ?our? refer to Ambassadors Group, Inc.

Forward-looking statements

This press release contains forward-looking statements regarding our actual and expected financial performance and the reasons for variances between period-to-period results. Forward-looking statements, which are included per the ?safe harbor? provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. Such forward-looking statements speak only as of the date of this release and may not reflect risks related to the conflict in the Middle East and international unrest, outbreak of disease, conditions in the travel industry, direct marketing environment, changes in economic conditions and changes in the competitive environment. We expressly disclaim any obligation to provide public updates or revisions to any forward-looking statements found herein to reflect any changes in our expectations or any change in events. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained. For a more complete discussion of these and other factors, please refer to the Ambassadors Group, Inc. 10K filed March 9, 2006 and proxy filed April 7, 2006.