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Friday, March 27, 2009

03/27/09 PRESS RELEASE:AmBase Reports Full Year Results

GREENWICH, Conn.-- AmBase Corporation (BULLETIN BOARD: ABCP) (the "Company") announced today a net loss of $4,431,000 or $0.10 per share for the full year ended December 31, 2008.

For the full year ended December 31, 2007, the Company recorded a net loss of $3,936,000 or $0.09 per share.

A more complete discussion of the Company's affairs is included in AmBase Corporation's Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission.

The Company also announced that it has fixed the close of business on Thursday, April 16, 2009 as the record date for the upcoming 2009 Annual Meeting of Stockholders of AmBase Corporation, which will be held at 9:00 A.M. Eastern Daylight Time on Thursday, June 4, 2009 at the Hyatt Regency Hotel, 1800 East Putnam Avenue, Greenwich, Connecticut.

AmBase Corporation

CONTACT:
Shareholder Services, +1-203-532-2048

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