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

Summary Results

(in thousands, except per share data)

Twelve Months

__ 2008__ 2007

------------------ ------- -------

Revenue__ $-__ $-

------------------ ------- -------

Operating expenses__ 5,191__ 5,501

------------------ ------- -------

Operating loss__ (5,191)__ (5,501)

------------------ ------- -------

Interest income__ 353__ 1,305

Realized gains on sales

of investment securities__ -__ 310

Other income__ 247__ -

------------------ ------ -------

Loss before income taxes__ (4,591)__ (3,886)

Income tax benefit

(expense)__ 160__ (50)

------------------ ------- -------

Net loss__ $(4,431)__ $(3,936)

------------------ ------- -------

Net loss per common share:

Basic__ $(0.10)__ $(0.09)

Assuming dilution__ $(0.10)__ $(0.09)

------------------ ------- -------

Weighted average common

shares outstanding:

Basic__ 43,571__ 44,691

Assuming dilution__ 43,571__ 44,691

------------------ ------- -------

SOURCE: AmBase Corporation

Originally published by AmBase Corporation.

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