Reports Record Annual Revenue of $12.6 Million BOSTON, March 12 /PRNewswire-FirstCall/ -- Ambient Corporation (OTC Bulletin Board: ABTG), a smart grid communications technology company, announced today the filing of its 10-K report for the year ending December 31, 2008, reporting annual revenues of $12.6 million, up from $2.2 million for fiscal year 2007. (Logo: http://www.newscom.com/cgi-bin/prnh/20090311/AMBIENTLOGO ) 2008 revenues resulted from the continuing success and delivery of smart grid communications technologies to one of the largest electric utilities in the United States. "This has been a strong year for smart grid initiatives and Ambient Corporation in particular. Our success at both product innovation, and our ability to move quickly from design to delivery is evident by the more than fivefold increase in our revenue in 2008," stated John J. Joyce, President and CEO of Ambient Corporation. "We are already working in 2009 to engage with new and existing partners and public utility customers to expand our deployments and further fuel the growth of our Ambient Smart Grid(TM) platform." Operations Highlights - Year End REVENUES: Revenues for the 2008 Period were $12,622,353, compared to $2,264,978, for the 2007 Period. Revenues during each of the periods were attributable to the sales of equipment, software and related network design and installation services from new deployments that were launched in 2008 and 2007. Revenues for the 2008 Period and 2007 Period related to the sales of equipment totaling $12,136,283 and $2,179,076, respectively. Revenues from the sale of software and related network design and installation services for the 2008 Period and the 2007 Period totaled $486,070 and $85,902, respectively. COST OF GOODS SOLD: Cost of goods sold for the 2008 Period was $9,942,009 compared to $1,806,060 for the 2007 Period. Cost of goods sold included all costs related to manufacturing and selling products and services and consisted primarily of direct material costs. Cost of goods sold also included expenses related to the write down of inventory to the lower of cost or market. The increase in cost of goods sold during the 2008 Period reflects the increase in production to fill orders placed by one of the largest electric utilities in the United States. For the 2008 Period, cost of goods sold included an inventory reserve of $50,303 for excess, obsolete, and surplus inventory resulting from the transition from second to third generation technology. GROSS PROFIT: Gross profits for the 2008 Period was $2,680,344 compared to $458,918 for the 2007 Period. The gross profit on hardware sales amounted to $2,194,274 and $386,369 for the 2008 Period and 2007 Period, respectively. The increase in gross profits during the 2008 Period reflects the increase in revenues resulting from the production to fill orders placed in 2008. A more detailed description of Ambient's business, our results of operations and financial statements are contained in the Annual Report on Form 10-K filed on March 11, 2009. About Ambient Corporation Ambient designs, develops and markets Ambient Smart Grid(TM) communications technologies and equipment. Using proprietary, open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for creating smart grid communication platforms and technologies. Headquartered in Newton, MA, Ambient is a publicly traded company (OTC:ABTG) (BULLETIN BOARD: ABTG) . More information on Ambient is available at http://www.ambientcorp.com/. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, changes in economic conditions generally and our market specifically, market acceptance of new products, changes in economic conditions generally and the smart grid market specifically, changes in technology, legislative or regulatory changes that affect us, the availability and sufficiency of working capital, introduction of competing products and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason. Ambient, Ambient Smart Grid, It's Time to Teach an Old Grid New Tricks and AmbientNMS are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office. http://www.newscom.com/cgi-bin/prnh/20090311/AMBIENTLOGO http://photoarchive.ap.org/ DATASOURCE: Ambient Corporation CONTACT: Anna E. Croop, Director of Corporate Communications of Ambient Corporation, +1-617-614-6739, Web Site: http://www.ambientcorp.com/

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