iNEXTV and U.S. News & World Report Join Forcesfor Convention Coverage.

Business Editors/Multimedia, Publishing & Government Writers

NEW YORK--(BUSINESS WIRE)--July 27, 2000

EXBTV.com, an affiliate of iNEXTV Corporation, the premier online video media company and a wholly owned subsidiary of Ampex Corporation (AMEX: AXC), announced today that

"As more text-based websites look to add the persuasive power of video to their sites, iNEXTV will be there to provide online video solutions. This is the first of many relationships that we are developing with major media companies," said Ray Marione, iNEXTV Vice President of Brand Strategies. "This is the first time that the national elections will have extensive online coverage. iNEXTV's proprietary technology and production capabilities, combined with U.S News & World Report's insightful reporting, will provide viewers with a comprehensive, authoritative look at the election process."

Gavel-to-gavel convention coverage runs from July 31 through August 3 for the Republican National Convention 2000 in Philadelphia, and from August 14 through August 17 for the Democratic National Convention 2000 in Los Angeles. For convention coverage go to www.usnews.com and www.exbtv.com.

EXBTV, www.exbtv.com, is the first video-based website that interprets the inner workings of the Executive Branch of government for business - highlighting the intersection of business and government. EXBTV offers live, online video coverage of the hearings, meetings, press conferences, and forums that are critical to today's new economy. Constantly updated content includes timely interviews with business newsmakers and Washington insiders as well as insightful commentary from veteran journalists. The site also includes a growing archive that includes more than 800 hours of programming.

(Minimum requirements to view EXBTV webcasts: RealPlayer(R) software, available for free download at www.real.com and at least a 28Kbps connection to the Internet, but 56Kbps is recommended. If you experience problems downloading the software or viewing site content, please send an email to techsupport@inextv.com.)

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, risks of continuing losses from future operations, risks affecting the Company's Internet strategy and other risks mentioned in the Company's 1999 Annual Report of Form 10-K filed with the SEC and its Quarterly Report on Form 10-Q for subsequent fiscal periods.