Applied Signal Technology, Inc.
Presenting at the Oppenheimer 3rd Annual Industrials Conference

Sunnyvale, CA September 24, 2008 – Applied Signal Technology, Inc. (NASDAQ – APSG) today announced that company executives will be presenting at the Oppenheimer 3rd Annual Industrials Conference on October 2, 2008 in New York.

William Van Vleet, President and Chief Executive Officer; and James Doyle, Chief Financial Officer; will present at the Oppenheimer conference at 8:45 a.m. Eastern Time. To listen to the live presentation and Q&A via Web cast, please go to the following URL: http://www.veracast.com/webcasts/opco/insdustrials08/09102433.cfm.

The Web cast will automatically be archived approximately three hours after the live event and will be available for 90 days through January 1, 2009, at the same URL. The URL will also be available at http://www.appsig.com in the investor relations section under company announcements.

Applied Signal Technology, Inc. provides advanced intelligence, surveillance, and reconnaissance (ISR) products, systems, and services to enhance global security. For further information about Applied Signal Technology, visit our website at www.appsig.com.