Applied Signal Technology, Inc. Announces
Second Quarter Fiscal 2008 Earnings Conference Call

SUNNYVALE, CA, May 14, 2008 – Applied Signal Technology, Inc. (NASDAQ: APSG) will host a conference call to discuss its financial results for the second quarter of its fiscal year 2008 on Wednesday, May 28, 2008 at 5:00PM Eastern Time. The Company’s prepared remarks will be followed by a question and answer session.

Via telephone, the dial-in number is 877-407-8035 for domestic callers or 201 689-8035 for international callers; no password is required. The conference call will also be Web cast live (listen-only mode) at the following Web sites: http://www.appsig.com and http://www.InvestorCalendar.com.

The press release announcing the Company’s results will be distributed over a national wire service prior to the conference call. The press release will also be posted at the Company’s Web site: http://www.appsig.com.

Replay of the conference call will be available via telephone by calling 1-877-660-6853 (International 1-201-612-7415). Replay pass codes are required for the playback: account number 286 and conference ID number 285055 until August 26, 2008 / 11:59PM Pacific Time.

Applied Signal Technology, Inc. provides advanced digital signal processing products, systems, and services in support of intelligence, surveillance, and reconnaissance for global security. For further information about Applied Signal Technology’s products and services, visit our website at www.appsig.com.