ACHES Names Chief Executive Officer.

SAN FRANCISCO--(BUSINESS WIRE)--Jan. 16, 1996--African American Church Health & Economic Services, Inc. ("ACHES") and its wholly-owned subsidiary, ACHES INSURANCE SERVICES, INC. Tuesday announced that Edwin Harold Corbin III has joined ACHES as its chief executive officer, based in San Francisco.

Corbin brings to ACHES his significant experience in insurance and managed care health administration. Prior to joining ACHES, he was corporate director of community relations for Best Health Care, Inc. (Philadelphia) and corporate manager of Medicaid and Medicare Behavioral Health for U.S. Healthcare, Inc. (Blue Bell, Pennsylvania). He also has extensive experience in mental health management and clinical positions.

Corbin graduated from Temple University, and went on to graduate studies in psychology at Beaver College in Pennsylvania. He is 34 years old. He has presented extensively at conferences and seminars, both nationally and internationally, including the International Association of Psycho-Social Rehabilitative Services and the World Federation for Mental Health in Tokyo in 1993.

Commenting on Corbin's appointment, Ernest A. Bates, M.D., chairman of the ACHES board of directors, said, "The selection of Harold Corbin to lead ACHES was the result of a nationwide search. He is one of the outstanding African-American healthcare and managed care administrators in the country. He is the most qualified person to run the ACHES program, currently in California with Blue Cross of California, and in northeastern states with U.S. Healthcare, Inc."

ACHES is an integrated health services organization, founded by African-American church, medical and other community leaders to develop and promote the delivery of high quality healthcare services, primarily to the African-American community. A key objective of ACHES is to empower African-Americans economically and medically.

The majority of the profits from ACHES' business will be reinvested in the African-American community, through the ACHES Foundation, which is administered by church and community leaders.

ACHES is a subsidiary of American Shared Hospital Services (AMEX, PSE: "AMS" for common stock, "AMS.A" for notes), a diversified healthcare services company based in San Francisco. -0-

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CONTACT: American Shared Hospital Services, San Francisco

Richard Magary, 415/788-5300 M-F 8am-6pm

415/658-8003 after hours

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