AMSE Subsidiary JMC Reaches Agreement to Provide Mortgage Services for Third Federal Savings Bank. Plans include the launch of a unique new Construction Loan product.

Business Editors

JUPITER, Fla.--(BUSINESS WIRE)--Aug. 22, 2003

America's Senior Financial Services, Inc. (OTCBB:AMSE) announced today that Jupiter Mortgage Corporation (JMC) has entered into a strategic agreement with a 97 year old West Virginia based Federal Savings Bank.

JMC will provide complete mortgage lending services to the customers of the bank, which operates in several states including Florida.

The parties have developed a unique Construction-to-Permanent Loan Product that will be launched by JMC and position the Company as a market leader in this underserved niche market. The Bank will provide JMC with warehouse facilities to fund the new construction loan production.

This announcement confirms AMSE's commitment to building its "business-to-business" mortgage services platform. Recently, AMSE has announced five similar arrangements expected to contribute significant revenue in the next twelve months. In addition to its current multi state loan origination platform, AMSE provides mortgage services to three federal savings banks. AMSE also serves almost 200 small mortgage brokers and correspondent mortgage lenders.

AMSE SUBJECT OF "BUY" RECOMMENDATION: Recently Frazier Research & Analytics ("FRA"), an independent investment research firm, initiated coverage of America's Senior Financial Services (OTCBB:AMSE) with a "Buy" rating. Based on AMSE's growth in revenues and earnings, and the execution of its four-legged business plan, (which we believe is further demonstrated by this press release) FRA believes that the Company is currently undervalued and that its stock will rise substantially in price over the coming year, as the firm is projecting AMSE's revenues and earnings to continue to grow. FRA has placed a 3-month and 12-month target price of $0.75 and $2.00, respectively, on AMSE. FRA's report on America's Senior Financial Services can be viewed at the firm's Internet Web site at www.StockInvestorsDigest.com.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements. This news release contains forward-looking statements regarding a new strategic relationship and the effect it may have on future revenues. This news release also refers to an independent research report, for which the Company is not responsible. Since these statements are based on forward looking projections and are subject to final implementation, they are subject to risks and uncertainties that could cause actual results for the quarter to differ materially from those set forth in this news release. Factors that might cause such a difference include the possibility of lower revenues for the balance of the fiscal year, greater than anticipated operating costs, issuance of additional shares, the outcome of litigation, the decline of availability of mortgages at reasonable rates, difficulties with program implementation at the bank or correspondent lender level, and a downturn in general economic conditions. These forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. To contact Investor Relations, email the Company at [e-mail]. The Company's web addresses are www.americassenior.com , www.synergy-mortgage.com , and www.jupiter-mortgage.com.