Nasdaq to Delist Ampex Common Stock

  
    
  
  
    
      Ampex Corporation (Nasdaq:AMPX) today announced that it has informed the 
      Nasdaq Office of General Counsel, Hearings, that it no longer wishes to 
      appeal the Staff’s determination to delist 
      Ampex Corporation’s Class A Common Stock from 
      The Nasdaq Stock Market. The Company has been informed that its Class A 
      Common Stock will be delisted, effective as of the opening of business 
      on Thursday, May 8, 2008. Nasdaq’s 
      determination to delist the Company’s Common 
      Stock was based on the Company’s filing of a 
      voluntary petition for relief under chapter 11 of the U.S. Bankruptcy 
      Code on March 30, 2008, and associated public interest concerns raised 
      by it, concerns regarding the residual equity interests of existing 
      Common Stockholders, and the Company’s ability 
      to sustain compliance with all of Nasdaq’s 
      continued listing requirements.
    
    
      Ampex Corporation, headquartered in Redwood City, California, is one of 
      the world’s leading innovators and licensors 
      of technologies for the visual information age. Additional information 
      about Ampex is available on the Internet at www.ampex.com, 
      as well as on a new toll-free Ampex Restructuring Hot Line at (800) 
      767-8328.
    
    
      This news release contains predictions, projections and other 
      statements about the future that are intended to be “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. Such forward-looking 
      statements involve known and unknown risks, uncertainties and other 
      important factors that could cause the Company’s 
      actual results, performance or achievements, or industry results, to 
      differ materially from any future results, performance or achievements 
      expressed or implied by such forward-looking statements. Such risks, 
      uncertainties and other important factors include, but are not limited 
      to, those described 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 the Company 
      periodically files with the SEC, as well as the risks of limited 
      liquidity and other risks relating to the delisting of the Class A 
      Common Stock, and the effects of the chapter 11 case on the Class A 
      Common Stock and the Company’s equity holders. 
      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.