AmBase Corp. announced that its Board of Directors has appointed Ms. A. Halloran to the company's Board of Directors, effective as of August 31, 2012. Ms. A. Halloran was also appointed as a member of the company's Accounting and Audit Committee.

The Board of Directors of AmBase Corp. is considering a plan, which is subject to various economic, financial, business, tax, accounting, regulatory, legal and administrative considerations, to declare and pay a special cash dividend of between $1.50 and $2.00 per share of common stock possibly prior to the end of calendar year 2012.