Ampex Delisted From Nasdaq

Ampex Corporation announced that on April 11, 2008 it received notice from The Nasdaq Stock Market 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 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