KNXV-TV 15, PHOENIX SIGNS AGREEMENT WITH AMPEX UNIT iNEXTV TO AIR MY TAKE WITH HUGH DOWNS"

KNXV-TV 15, PHOENIX SIGNS AGREEMENT WITH
AMPEX UNIT iNEXTV TO AIR MY TAKE WITH HUGH DOWNS"

Special Programming Event for May Sweeps

New York, NY, May 1, 2001 -- iNEXTV Corporation, the premier producer, aggregator and syndicator of video for the Internet and a wholly-owned subsidiary of Ampex Corporation (Amex:AXC), today announced it has signed an agreement with KNXV-TV 15, an ABC affiliate and a Scripps Howard-owned network in Phoenix, Arizona, to give KNXV-TV 15 the rights to air a re-formatted version of iNEXTVs MY TAKE WITH HUGH DOWNS, starring well-known journalist and former 20/20 co-anchor Hugh Downs. MY TAKE WITH HUGH DOWNS will air at 10:18 PM (MT) on the evening news for May sweeps month. This is the first time the rights to an iNEXTV original program have been optioned for television.

Currently, iNEXTVs MY TAKE WITH HUGH DOWNS is a weekly, original, 3-5 minute, Web-exclusive commentary where every subject is game for one of the most respected commentators in America, as Hugh Downs offers his special insights on business, society and the body politic. Past subjects have included the media, race relations, Pardongate," the idea of Evil, tobacco addiction, the new concept of age, genetic engineering, domestic abuse, Temptation Island" (TV Show), and superstition. On the web, MY TAKE WITH HUGH DOWNS can be seen on Juno.com, Qwests Online Avenue, and Yahoo! as well as on www.iNEXTV.com.

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KNXV-TV 15s version of iNEXTVs MY TAKE WITH HUGH DOWNS will be taped in the KNXV-TV 15 news studio with Hugh Downs giving viewers his analysis of subjects ranging from gun control and campaign finance to school programs and the economy and will run for approximately 1-2 minutes during the daily local newscast.

We are very pleased to have KNXV-TV air iNEXTVs MY TAKE WITH HUGH DOWNS," said Marc Chalom, Vice President of Content and Production, iNEXTV Corporation. Although we are not currently planning on creating and producing content for television, this agreement reinforces the fact that iNEXTVs programming quality is first-rate and capable of multiple avenues of traditional distribution."

After spending more than 10,000 hours on air, most recently as the co-anchor of ABCNEWS 20/20, Hugh Downs has now brought his distinguished journalism skills to the Internet. Since 1999, Downs has hosted several original web-exclusive politics and business programs for iNEXTV. In May 1989, Downs celebrated his 50th anniversary in broadcasting (both radio and television) and has received several awards -- including EmmysÒ, the Broadcaster of the Year Award by the International Radio and Television Society, the National Headliner Award by the National Conference of Christians and Jews, the 1985 Award of Merit from the National Society of the Daughters of the American Revolution, the Carr Van Anda Award from the Ohio University School of Journalism and the Emerson College Joseph E. Connor Award - for his many achievements.

iNEXTVs programming is primarily distributed through a network of leading web properties. All of iNEXTVs Internet content is encoded, hosted and streamed via iNEXTVs custom player window streaming and advertising video interface. The player window utilizes Ampexs proprietary video technology to provide high quality video with multi-level advertising and branding opportunities. All of the programming is accessible to users of MicrosoftÒ Windows MediaÔ Player (Nasdaq:MSFT) and Real Networks RealPlayerÒ (Nasdaq:RNWK).

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About iNEXTV
iNEXTV Corporation is the premier producer, aggregator and syndicator of video for the Internet, and is a wholly-owned subsidiary of Ampex Corporation (Amex:AXC). iNEXTV and its subsidiary have a syndication network that reaches more than 20 million unique monthly users via its distribution partnerships with Yahoo!, AskJeeves, Juno, Qwests Online Avenue, TravelNow.com and ClassicCars.com among others. Headquartered in New York City, iNEXTV produces and syndicates original Internet video programming from its production facilities in New York, Los Angeles and Munich, Germany. Programming categories include politics and business, exotic travel, fashion, automotive and entertainment - showcasing iNEXTVs superior streaming technology with content. For more information about iNEXTV and its programming, syndication and advertising offerings, please visit us at www.iNEXTV.com.
(Minimum requirements to view iNEXTV webcasts: (1) Microsoft Windows Media Player, available for free download at www.windowsmedia.com, or (2) RealPlayer® 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 .)
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This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risk 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 of declining liquidity, risks affecting the Company's Internet strategy; ability to sell advertising, and to obtain additional distribution; uncertainty as to the timing or terms of any sale of Data Systems and other risks mentioned in the Company's 2000 Annual Report on Form 10-K filed with the SEC, and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2000, which is expected to be filed shortly.