Ampex's iNEXTV and TV onthe WEB Presenting At Streaming Media East `99; Executives of Leading Internet Video Network Discuss Strategy and Initiatives at Top Industry Conference.

NEW YORK--(BUSINESS WIRE)--June 30, 1999--

On the heels of Ampex Corp.'s (AMEX:AXC) initial webcast for shareholders announcing the launch of iNEXTV (www.inextv.com), the leading provider of streaming media content designed for the Internet, two of the company's executives were presenters at Streaming Media East `99 in New York City.

Carol Rudisill, iNEXTV's vice president of Interactive Development and David Gardy, president of TV onthe WEB, an iNEXTV affiliate, were among the streaming media experts addressing the world's largest independent conference and exhibition for Internet content providers.

Rudisill was featured on a panel discussing "Where Streaming Media Fits into the PC/TV Convergence - TV, Cable and Broadcast Industry Strategies." In her remarks, Rudisill outlined iNEXTV's commitment to delivering compelling Internet video programming to a worldwide audience and niche communities while providing premium advertisers with focused responsive viewers.

She described how iNEXTV has built the production, promotion and sales infrastructure and the content development model to be the leading source of television for the Internet.

Gardy was featured on a panel discussing "Video On-demand and E-commerce - Understanding the Business Models Which Work for the Business Content Provider." He described how TV onthe WEB has gained national recognition for its innovative network of video-driven community based interactive television channels on the web.

Gardy spoke of how the network streams video to specific business-to-business and special interest groups through revenue-generating TV channels underwritten by organizations well-known in niche markets. He also outlined how TV onthe WEB generates revenue streams from live events, advertising, E-commerce, pay-per-view and subscription sources.

Ampex Corp., www.ampex.com, headquartered in Redwood City, California is one of the world's leading innovators of technologies for the visual information industry.

The company, a participant in the Internet revolution since its early days, is leveraging its core expertise in image-based markets and has founded iNEXTV, www.inextv.com, to develop the next generation of TV by assembling a network of targeted video-driven sites on the Internet. iNEXTV's strategy is to use Ampex's technological expertise to increase the content and quality of Internet video.

iNEXTV plans investments and alliances with existing webcasting companies, and will also develop its own production and distribution facilities. iNEXTV currently has strategic interests in TV onthe WEB, www.tvontheweb.com, Alternative Entertainment Network Television, www.aentv.com, Executive Branch TV, www.exbtv.com and TV1 Internet Television, www.tv1.de.

iNEXTV has also established its own Internet video production and distribution facilities in Los Angeles, which are shared with AENTV, and in Berlin, which are shared with TV1, and is also constructing Internet video production center in New York City from which it will launch new programming in the fall.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and unforeseen circumstances that could cause actual results to differ materially from those currently anticipated. Potential risks and uncertainties include, without limitation, those mentioned in the company's 1998 Annual Report on Form 10-K filed with the SEC and its quarterly report on Form 10-Q for the quarter ended March 31, l999.