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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: D.J.Toal who wrote (2904)	6/30/1998 1:59:00 PM
From: Paul Lee	Read Replies (1) \| Respond to of 17679

Ampex Signs MicroNet Acquisition Agreement REDWOOD CITY, Calif.--(BUSINESS WIRE)--June 30, 1998--Ampex Corporation (AMEX:AXC) today announced that it has signed the definitive acquisition agreement for the purchase of the outstanding capital stock of MicroNet Technology, Inc., Irvine, Calif. MicroNet designs and manufactures high-performance disk arrays for use in digital image applications, primarily digital pre-press and video. Final closing of the transaction is expected to occur shortly. An Ampex spokesperson stated, "MicroNet represents the first step in our program to acquire new businesses that will expand Ampex's presence in several digital image markets. We are extremely pleased to be working with MicroNet and its management team, and we expect to provide capital and other resources to support their growth strategies." The company indicated that it is actively considering additional acquisitions.