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AMSERV ANNOUNCES THIRD QUARTER RESULTS AND STOCK REPURCHASE PROGRAM

AMSERV ANNOUNCES THIRD QUARTER RESULTS AND STOCK REPURCHASE PROGRAM
 RENO, Nev., May 13 /PRNewswire/ -- AMSERV Inc. (NASDAQ: AMSR) reported sales from continuing operations of its home care and health care facilities staffing businesses for the third quarter ended March 31, 1992, of $3,474,571, up 7 percent from the prior year. The loss from continuing operations for the third quarter of fiscal 1992 was $50,387 ($.02 per share) compared to a loss of $19,319 ($.01 per share) for the same quarter a year ago.
 Net income for the quarter was $1,273,882 ($.41 per share) compared with net income of $119,443 ($.04 per share) for the same period last year. The company said the increase in net income resulted from a gain of $1,222,193 ($.39 per share) from the recently completed sale of the assets of its medical products subsidiary.
 For the nine months to date, AMSERV's sales from continuing operations were up 27 percent to $11,867,577. Income from continuing operations was $32,002 ($.01 per share) compared to income of $205,352 ($.07 per share) for the first nine months of fiscal 1991. Year to date net income was $1,624,373 ($.52 per share), including the previously described gain from the sale of the medical products business, compared with net income of $844,149 ($.27 per share) for the first three quarters last year.
 AMSERV Inc. also announced that its board of directors authorized a stock repurchase program to buy back, from time to time, depending on the price of its stock, up to 10 percent of the company's outstanding common shares. "In light of the current price of the company's stock, the board believes the stock repurchase program provides an excellent opportunity to increase shareholder value," said Gene Mora, AMSERV's CEO.
 "Proceeds from the sale of AMSERV's medical products business will be invested in the expansion of the company's health care services businesses. We recently signed a non-binding letter of intent to acquire a multi-office health care facilities staffing company with annualized sales of $8 million. Yesterday we opened the first of a number of offices planned for the Chicago
area." Based on current expansion plans, the company expects to double sales within the next 12 to 18 months through acquisitions and start-up operations.
 AMSERV Inc. is a health care services company that provides nursing personnel to individuals in their homes and to health care facilities through its AMSERV NURSES' group of companies, which has 12 offices in eight states.
 AMSERV
 Consolidated Operating Results (Unaudited)
 Three months ended March 31
 1992 1991
 Net Sales $3,474,571 $3,236,785
 Loss from Continuing Operations ($50,387) ($19,319)
 Income from Discontinued Operations $102,076 $ 138,762
 Gain on disposal of Discontinued
 Operations $1,222,193 --
 Net Income $1,273,882 $ 119,443
 Income Per Share:
 Loss from Continuing Operations ($.02) ($.01)
 Loss from Discontinued Operations $.03 $.04
 Gain on disposal of Discontinued
 Operations $.39 --
 Net Income $.41 $.04
 Average Shares Outstanding 3,137,114 3,182,140
 Nine Months ended March 31
 1992 1991
 Net Sales $11,867,577 $9,323,620
 Income from Continuing Operations $ 32,002 $ 205,352
 Income from Discontinued Operations $ 370,178 $ 638,797
 Gain on Disposal of Discontinued
 Operations $ 1,222,193 --
 Net Income $ 1,624,373 $ 844,149
 Income Per Share:
 Income from Continuing Operations $.01 $.07
 Income from Discontinued Operations $.12 $.20
 Gain on Disposal of Discontinued
 Operations $.39 --
 Net Income $.52 $.27
 Average Shares Outstanding 3,131,617 3,151,749
 -0- 5/13/92
 /CONTACT: Gail Letcher of AMSERV, 702-348-1000/
 (AMSR) CO: AMSERV Inc. ST: Nevada IN: HEA SU: ERN


MM-RM -- SJ002 -- 9466 05/13/92 08:05 EDT
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Date:May 13, 1992
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