Ambient Closes $7.5 Million Private Placement

Company Continues to Strive Towards Objectives Set Forth in 2007 Annual Meeting of Stockholders

BOSTON--(BUSINESS WIRE)--Ambient Corporation (OTCBB: ABTG), a leader in Broadband over Power Lines (BPL) solutions, today announced that it has closed on a private placement to an institutional investor of $7.5 million in principal amount of its newly issued 8% Senior Secured Convertible Note.

The institutional investor in this funding originally advanced Ambient a $4 million bridge loan that was announced on June 4, 2007, and has now rolled the short-term loan into a three-year Convertible Note. The Note is convertible into Ambient stock at $0.075.

Pursuant to the agreement, the Note matures on July 31, 2010, and requires no repayment of principal until the maturity date. Interest on the note does not begin accruing until July 2008; with first quarterly interest payment due in September 2008.

Commenting on the raise, John J. Joyce, President and CEO of Ambient, stated, “This investment allows Ambient to continue advancing our deployments while meeting the goals and objectives set forth in our 2007 Annual Meeting of Stockholders.”

The 8% Senior Secured Convertible Note is secured by a lien on Ambient’s assets, and as part of the terms of this transaction, the investor received warrants to purchase shares of Ambient’s common stock at per share exercise prices of $0.075 and $0.06.

Additional information relating to the Senior Secured Convertible Notes, the warrants, and related matters were included in Ambient’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 31, 2007.