EPAX (MM)

On July 14, 2009, a class action lawsuit was filed in the United States District Court for the Eastern District of Washington against Ambassadors Group Inc. (NASDAQ: EPAX). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from February 8, 2007 through October 23, 2007.

Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Monday, September 14, 2009, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, participate in this or any other lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:

William B. Federman FEDERMAN & SHERWOOD 10205 North Pennsylvania Avenue Oklahoma City, OK 73120 (405) 235-1560 Fax: (405) 239-2112 Email to: wbf@federmanlaw.com www.federmanlaw.com