November 24, 2003
Ambient Announces Award of Additional
Patent; Ambient's Successful Funding Results in Release of Lien on Its
NEWTON, Mass.--(BUSINESS WIRE)--Nov.
24, 2003--Ambient Corporation (OTCBB: ABTG), a leader in Power Line
Communications technology (PLC), today announced the award of U.S. Patent
Number 6,646,447 for "Identifying One of a Plurality of Wires of
a Power Transmission Cable."
Dr. Yehuda Cern, Chief Engineer of Ambient Corporation, stated, "This
patent represents another important step in the expansion of the use
of underground medium voltage distribution cables to carry high speed
data signals." John J. Joyce CEO added, "The award of our
new patent is another significant addition to Ambient's expanding patent
portfolio." Additionally, on November 20, 2003, Ambient completed
the private placement of approximately $4.6 Million of its three-year
6% convertible debentures. In connection with this funding, Consolidated
Edison Company of New York, Inc., Ambient's principal stockholder and
development partner released its lien on the Company's assets previously
granted to secure advances made to Ambient. This funding, coupled with
the continued progress in the Company's patent portfolio, will enable
Ambient to move its technology towards commercialization, enter into
new strategic development relationships and respond to global opportunities
for power line communications. About Ambient Corporation Ambient Corporation
(OTC BB: ABTG) is a development stage company engaged in the design,
development and marketing of equipment and technologies that utilize
existing electrical power medium voltage and low voltage distribution
lines as a medium for the delivery of broadband and other communication
services. The use of an electric power distribution system as a high-speed
communication medium is commonly referred to as "power line communication"
or "broadband over power lines."
Visit us at www.ambientcorp.com.
This press release may contain forward-looking statements that involve
risks and uncertainties. These statements may differ materially from
actual future events or results. Readers are referred to the documents
filed by Ambient Corporation with the SEC, including the company's most
recent report on Form 10-KSB and 10-QSB, which identify important risk
factors that could cause actual results to differ from those contained
in the forward-looking statements. Ambient is a trademark of Ambient
Corporation registered in the U.S. Patent and Trademark Office.
Anna E. Croop, 617-332-0004, ext. 210
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