ORANGE COUNTY SUPERVISORS AUTHORIZE JANUARY 1 INTEREST 
PAYMENTS; SUSPEND SET ASIDES FOR JUNE PRINCIPAL PAYMENT



  SANTA ANA, Calif.--Dec. 29, 1994-- The Orange County Board of

Supervisors today authorized -- subject to bankruptcy court approval --

payment of an amount equal to $3.9 million in interest due January 1 on
six  bond issues.  At the same time, citing uncertainty with regard to the
County's  cash flow situation and a need to conserve cash to meet
short-term operating  commitments, the Supervisors determined to suspend
the December $34.7 million  set aside and January $18.7 million set aside
for payment of principal on its  Series A Tax and Revenue Anticipation
Notes (TRANS).


  The County said that the payment on other issues of indebtedness will be

made from reserve accounts maintained by the trustees for such issues.


  According to Gaddi H. Vasquez, Chairman of the Orange County Board of

Supervisors, "Maintaining our relationship with the financial markets is

fundamental to the long-term recovery and restructuring of the County's

financial future.  The actions taken here today allow us to keep open our

lines to the financial markets, while enabling the County to conserve cash for

the immediate operating needs.


  "While we would prefer to be able to set aside the funds required for the

June principal payment on the TRANS note, the uncertainty we face with regard

to the current financial crisis makes it impossible to commit funds for all

but essential short-term operating needs," Mr. Vasquez said.


  The $3.9 million in interest is due on a total of $815 million principal

amount of Sanitation District Sewer bonds, General Obligation Improvement

bonds, Series B TRANS notes, taxable notes and Teeter Plan notes, interest

payments on the sewer and general obligation improvement notes are due

semi-annually; interest on the remaining notes is payable monthly.


  CONTACT:  Sandra Sternberg or Michael Kolbenschlag of Sitrick Krantz &

Company, 714-834-4720 or 310-788-2850/

MAJOR AMPEX STOCKHOLDER CONSUMMATES SHARE DISTRIBUTION PLAN



  REDWOOD CITY, Calif.--December 28, 1994--Ampex Corporation announced
that NH Holding Incorporated, the holder of 16 million shares of Ampex
common stock, today consummated its Chapter 11 plan which was previously
confirmed by the U.S. Bankruptcy Court for the District of Delaware on
Dec. 7, 1994.


  Under the plan, the Ampex shares held by NH Holding, which represent

approximately 26% of Ampex's common stock on a fully diluted basis, and 78% of

its currently outstanding common stock will be distributed to the creditors of

NH Holding, as soon as possible, in settlement of all claims and NH Holding

will be completely liquidated.


  Building on a 50-year history of technology achievement, Ampex Corporation

(OTC Bulletin Board: AMPX) is the leader in applying scanning magnetic

recording technology to meet the massive requirements of visual age storage.  
Its advanced tape drive storage systems, video image recording and processing

equipment and ultra-ruggedized instrumentation recorders set new levels of

performance in the most critical areas of business, science, entertainment and

government.



           CONTACT:  Ampex Corporation, Redwood City

                     Karen D. Schweikher

                     Investor Relations, 415/367-4111