EXHIBIT 99.1

EUPHONIX ANNOUNCES REVISION OF RESULTS FOR FIRST AND SECOND QUARTERS OF 2000

PALO ALTO, CA, November 16, 2001. Euphonix, Inc. (OTCBB: EUPH.OB), a leading
provider of networked digital audio systems, announced today that it will revise
its previously reported financial results for first and second quarters of 2000
and, accordingly, the year ended December 31, 2000.

The revisions result from an adjustment related to a single contract with a
customer that requires a deferral of revenue. These revisions decreased revenue
by $322,000 for the first quarter of 2000 and by $738,000 for the second
quarter. Thus, the total decrease in revenue is $1,060,000, which is reflected
in the revenue figures for the six months ended June 30, 2000, the nine months
ended September 30, 2000 and the year ended December 31, 2000. The deferral of
revenue also resulted in an increase in net loss of $177,000, or $0.01 per
share, for the first quarter of 2000, and $331,000, or $0.03 per share, for the
second quarter of 2000. In total, the deferral of revenue increased net loss by
$508,000, or $0.04 per share, as reflected in the results for the six months
ended June 30, 2000, the nine months ended September 30, 2000 and the year ended
December 31, 2000. Accordingly, the Company will be amending its Form 10-K for
the year ended December 31, 2000 and its Forms 10-Q for the quarters ended March
31, 2001 and June 30, 2001.

The Company collected the amounts due it under the transaction in the second and
third quarters of 2000. However, a recent review of the contract indicated that
certain of the Company's contractual software obligations were not complete,
thereby necessitating that the revenue be deferred under generally accepted
accounting principles.

In November 2001, the Company entered into an agreement with the customer
satisfying the Company's existing obligations under the contract and enabling it
to recognize revenue from the transaction of approximately $1,000,000 in the
quarter and year ended December 31, 2001.

About Euphonix

Based in Palo Alto, California, Euphonix develops, manufactures and supports
networked digital audio systems for film/post production, broadcast, music,
sound reinforcement and multimedia applications. In addition, Euphonix is
developing software, hardware and support services for Internet-enabled audio
production throughout the entertainment industry.

Founded in 1988, Euphonix has delivered more large format digital-control mixing
consoles worldwide than any other manufacturer and is the first professional
console manufacturer to deliver the combination of a 24bit 96kHz audio console
and 48 track multi-track recorder to the industry. For more information call
(650) 855-0400 or visit the Euphonix Web Site at http://www.euphonix.com.