APPLIED SIGNAL TECHNOLOGY, INC.
HAS REVISED ITS CONFERENCE CALL AND THIRD QUARTER EARNINGS
ANNOUNCEMENT TO AN EARLIER TIME ON AUGUST 19, 2003

SUNNYVALE, CA, August 12, 2003 – Applied Signal Technology, Inc. (NASDAQ: APSG) announced today that it has revised the time for its conference call and third quarter earnings announcement. The Company will now host a conference call on Tuesday, August 19, 2003 at 8:00AM Pacific Time (11:00AM Eastern Time) to discuss third quarter operating results. Gary L. Yancey, President and CEO will be hosting the call. The third quarter operating results will be released through the newswire services on Tuesday, August 19, 2003 at 7:00AM Pacific Time (10:00AM Eastern Time). Financial and statistical information to be discussed in the call will be available on the company's website immediately prior to commencement of the call..

IInvestors will have the opportunity to listen to this event two ways - via teleconference or webcast:

Via telephone, the dial-in number is 877-407-8035 for domestic callers, or 201-689-8035 for international callers. There is no pass code required. There will be a question/answer session at the end of the conference call. A 24-hour replay of the teleconference call will be available by dialing 877-660-6853 for domestic callers and 201-612-7415 for international callers. Replay access number is required for the playback by entering account number 1628 and conference ID number 73617. The teleconference call replay will be available beginning at 4:00PM Pacific Time on August 19, 2003 and ending at 11:59PM Pacific Time on August 20, 2003.

This call is being webcast by Vcall and can be accessed at Applied Signal Technology's web site at www.appsig.com. Webcast will be available for replay through November 19, 2003.

The webcast is also being distributed over PrecisionIR's Investor Distribution Network to both institutional and individual investors. Investors can listen to the call through www.vcall.com or by visiting any of the investor sites in PrecisionIR's Individual Investor Network.

Applied Signal Technology designs, develops, manufacture and markets advanced digital signal processing equipment to collect and process a wide range of telecommunications signals for signal reconnaissance and industrial applications. For additional Company-related information, visit the Company's website at www.appsig.com.