Ampex Corporation Announces Nasdaq Notification of Delisting

  
    
  
  
    
      Ampex Corporation (Nasdaq:AMPX) today announced that on April 11, 2008 
      it received notice from The Nasdaq Stock Market (“Nasdaq”) 
      that, following the Company’s filing of a 
      voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy 
      Code on March 30, 2008, the staff of Nasdaq’s 
      Listing Qualifications Department has determined, using its 
      discretionary authority under Marketplace Rule 4300 and IM-4300, that 
      the Company’s Class A Common Stock (the “Common 
      Stock”) will be delisted from Nasdaq unless 
      the Company requests an appeal of the determination. Nasdaq’s 
      determination was based upon the Company’s 
      Chapter 11 filing, associated public interest concerns raised by it, 
      concerns regarding the residual equity interests of the Company’s 
      existing Common Stockholders and its ability to sustain compliance with 
      all of Nasdaq’s continued listing 
      requirements.
    
    
      Unless Ampex appeals Nasdaq’s determination, 
      trading in its Common Stock will be suspended at the opening of business 
      on April 21, 2008, and a Form 25-NSE will be filed with the Commission, 
      which will remove the Company’s Common Stock 
      from listing and registration on Nasdaq. Ampex intends to appeal Nasdaq’s 
      determination by requesting an oral hearing before a Nasdaq Listing 
      Qualifications Panel. The Company’s hearing 
      request will stay the suspension of its Common Stock and the filing of 
      the Form 25-NSE pending the Panel’s decision, 
      although there can be no assurance that the Panel will ultimately grant 
      the Company’s appeal.
    
    
      Ampex Corporation, www.ampex.com, 
      headquartered in Redwood City, California, is one of the world’s 
      leading innovators and licensors of technologies for the visual 
      information age.
    
    
      This release may contain information about the Company’s 
      future expectations, plans and prospects that constitute forward-looking 
      statements for purposes of the safe harbor provisions under The Private 
      Securities Litigation Reform Act of 1995. Actual results may 
      differ materially from historical results or those indicated by such 
      forward-looking statements as a result of a variety of factors 
      including, but not limited to, risks and uncertainties disclosed in the 
      Company’s 2007 Annual Report on Form 10-K for 
      the fiscal year ended December 31, 2007, its Quarterly Reports on Form 
      10-Q, and the other documents periodically filed by it with the SEC, as 
      well as the risk that the Company may not be able to regain compliance 
      with Nasdaq’s listing standards due to its 
      chapter 11 case or for other reasons, and the risk that the Nasdaq Panel 
      may not grant the Company’s appeal of Nasdaq’s 
      delisting determination. In assessing forward-looking statements, 
      readers are urged to consider carefully these cautionary statements. Forward-looking 
      statements speak only as of the date of this release, and the Company 
      disclaims any obligation or undertaking to update such statements.