Apogee Technology, Inc. Reports Record Third Quarter Results.

Business Editors/High-Tech Writers

NORWOOD, Mass.--(BUSINESS WIRE)--Nov. 14, 2003

Apogee Technology, Inc. (AMEX: ATA), a leading provider of digital audio amplification technology, reported revenue for the three months ended September 30, 2003 of $3,115,000 with net income of $325,000 or $0.06 per share. This is a 94% increase compared to revenue of $1,630,000 for the three months ended September 30, 2002, with net income of $19,000 or ($0.00) per share.

For the nine-month period ended September 30, 2003, the company reported revenue of $7,987,000, an increase of 135% compared to revenue of $3,416,000 for the same period in 2002. Net income was $427,000 or $0.08 per share for the nine-month period compared to a net loss of $960,000 or ($0.18) per share for the same period in 2002.

"With the continued success of DDX(R) products, we are implementing a strategy to grow the company through organic investments as well as strategic partnerships and technology acquisitions," said David Meyers, Apogee's Chief Operating Officer. "In the third quarter, we made significant investments in R&D to develop the next generation of DDX ICs. In addition, we are designing new ICs for emerging consumer applications. We are also working with several strategic partners to combine DDX with complementary technologies. We expect that these efforts will enable Apogee to expand its audio amplification market share while at the same time develop new markets to accelerate revenue growth."

Recent company accomplishments include:

-- Completed tenth consecutive quarter of revenue growth.

-- Achieved 135% year-to-year growth in revenue for the first

nine months.

-- Profits of $325,000 or $0.06 per share for the quarter and

$427,000 or $0.08 per share for the first nine months.

-- Approved for listing on the American Stock Exchange and

started trading on October 9, 2003 under the stock symbol ATA.

-- Approved two for one stock split for shareholders of record as

of November 17, 2003 with a distribution date of December 11,

2003.

-- Released the DDX-8001, the company's fourth generation DDX

Controller IC.

-- Released the DDX-2160 Power IC, an 80 watts per channel power

device.

-- Expanded design team to broaden IC product line.

-- Started production shipments of DDX to the gaming market.

-- Received trademark approval for DDX in the European Union.

-- Placed 2nd in New England out of 50, and 52nd in North America

out of 500 in the awards presented by Deloitte & Touche LLP

ranking the fastest growing high technology companies.

In November, the company expanded its DDX product line by releasing the DDX-8001 Controller and DDX-2160 power device. The DDX-8001 is a state-of-the-art digital amplification solution for multi-channel audio applications. The company believes that its superior performance, functionality, ease-of-use and low cost make it the most competitive solution in the marketplace. The DDX-2160 is a two-channel power device providing up to 80 watts of high efficiency audio power per channel. The device is pin compatible with Apogee's 50 watt per channel power device, enabling manufacturers to satisfy the growing consumer demand for high power home theater systems.

"In the third quarter, several leading Japanese consumer electronic companies released DVD receiver products incorporating our DDX technology," continued Mr. Meyers. "We believe that we have the leading digital amplifier solution and we plan to repeat this success in the digital set-top-box, DVD mini system, gaming system and car audio markets."

About Apogee Technology, Inc.

Apogee Technology, Inc., designs, develops and markets integrated circuits that incorporate the company's patented Direct Digital Amplification (DDX(R)) technology. This all-digital, high efficiency audio amplifier technology has significant commercial benefits including enhanced sound quality, expanded functionality, reduced product size and lower manufacturing costs compared to traditional analog amplifier solutions. The company markets and sells its DDX ICs to leading digital consumer electronic corporations worldwide. For more information please visit our web site at: http://www.apogeeddx.com.

DDX(R) is a registered trademark of Apogee Technology, Inc. All other product names noted herein may be trademarks of their respective holders. Certain statements made herein that use the words "estimate," "project," "intend," "plan," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties, which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied. Please refer to the company's risk factors as set forth in the company's filings with the Securities and Exchange Commission, including its reports on Form 10-KSB and 10-QSB.

                Apogee Technology, Inc. and Subsidiary
            Condensed Consolidated Statements of Operations
                        and Accumulated Deficit
                   (Quarterly Results are Unaudited)


                    THREE MONTHS ENDED           NINE MONTHS ENDED
                       SEPTEMBER  30,              SEPTEMBER 30,
                     2003          2002          2003          2002
               ------------- ------------- ------------- -------------
Revenues
  Product sales  $2,626,292    $1,024,639    $6,831,177    $2,370,140
  Royalties         488,739       492,576     1,156,073       893,510
  Consulting             --       113,000            --       152,871
               ------------- ------------- ------------- -------------

                  3,115,031     1,630,215     7,987,250     3,416,521
               ------------- ------------- ------------- -------------

Costs and
 expenses
Product sales     1,858,317       720,310     4,791,244     1,638,553
Research and
 development        433,941       483,165     1,163,682     1,282,004
Selling,
 general and
 administrative     494,113       412,098     1,604,473     1,474,543
               ------------- ------------- ------------- -------------

                  2,786,371     1,615,573     7,559,399     4,395,100
               ------------- ------------- ------------- -------------


Income (loss)
 before other
 income (expense)   328,660        14,642       427,851      (978,579)

Other income
 (expense)
Interest expense     (7,060)       (1,131)       (8,909)       (4,846)
Interest income       3,524         5,634         8,377        23,641
               ------------- ------------- ------------- -------------

                     (3,536)        4,503          (532)       18,795
               ------------- ------------- ------------- -------------

Net income
 (loss)             325,124        19,145       427,319      (959,784)

Accumulated
 deficit -
 beginning      (11,072,482)  (11,088,267)  (11,174,677)  (10,109,338)
               ------------- ------------- ------------- -------------

Accumulated
 deficit -
 ending        $(10,747,358) $(11,069,122) $(11,747,358) $(11,069,122)
               ============= ============= ============= =============

Basic and
 diluted income
 (loss) per
 common share         $0.06         $0.00         $0.08        $(0.18)
               ============= ============= ============= =============

Weighted
 average common
 shares
outstanding -
 basic and
 diluted          5,457,434     5,234,751     5,406,816     5,232,577
               ============= ============= ============= =============




                Apogee Technology, Inc. and Subsidiary
      Sequential Condensed Consolidated Statements of Operations
                        and Accumulated Deficit
                   (Quarterly Results are Unaudited)

                                           SEPTEMBER 30,     JUNE 30,
                                                 2003          2003
                                           ------------- -------------

Revenues
  Product sales                              $2,626,292    $2,685,292
  Royalties                                     488,739       347,335
  Consulting                                         --            --
                                           ------------- -------------
                                              3,115,031     3,032,627
                                           ------------- -------------

Costs and expenses
Product sales                                 1,858,317     1,864,686
Research and development                        433,941       373,261
  Selling, general and administrative           494,113       553,479
                                           ------------- -------------
                                              2,786,371     2,791,426

Income (loss) before other
 income (expense)                               328,660       241,201

Other income (expense)
Interest expense                                 (7,060)       (1,350)
Interest income                                   3,524         1,680
                                           ------------- -------------

                                                 (3,536)          330

                                           ------------- -------------
Net income (loss)                               325,124       241,531
                                           ------------- -------------

Accumulated deficit - beginning             (11,072,482)  (11,314,013)

Accumulated deficit - ending               $(10,747,358) $(11,072,482)

Basic and diluted income (loss)
per common share                                   $.06         $0.04
                                           ------------- -------------

Weighted average common shares
outstanding - basic and diluted               5,457,434     5,387,123
                                           ============= =============