APPLIED SIGNAL TECHNOLOGY, INC.
TO HOST A CONFERENCE CALL ON DECEMBER 16
TO DISCUSS FOURTH QUARTER OPERATING RESULTS

SUNNYVALE, CA, December 4, 2003 - Applied Signal Technology, Inc. (NASDAQ: APSG) announced today that it will host a conference call on Tuesday, December 16, 2003 at 2:00PM Pacific Time (5:00PM Eastern Time) to discuss the operating results for the fiscal year 2003. Gary L. Yancey, President and CEO, will be hosting the call. The fourth quarter operating results will be released through the newswire services on Tuesday, December 16, 2003 at 1:00PM Pacific Time (4:00PM 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.

Investors 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 confirmation number 81354. The teleconference call replay will be available beginning at 4:00PM Pacific Time on December 16, 2003 and ending at 11:59PM Pacific Time on December 17, 2003.

This call is being webcast by Vcall and can be accessed at Applied Signal Technology's web site at www.appsig.com. Web cast will be available for replay through March 16, 2004.

The web cast 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.