America's Senior Financial Services Schedules Closing Date For Senior Income Acquisition; Increases America's Senior National Marketshare to Estimated 10 Percent.

MIAMI LAKES, Fla.--(BUSINESS WIRE)--June 30, 1999--

By July 30, 1999, America's Senior Financial Services (OTC BB:AMSE) expects to close on its merger with Senior Income, a Chicago-based reverse mortgage company which last year generated approximately $50 million dollars in reverse mortgages (RMs).

AMSE had announced a letter of intent last November and the closing has been subject to certain funding by AMSE. Funds are now in place.

"By the end of this year, with Senior Income, we should generate an estimated 10 percent of the national reverse mortgage market share, on a proforma basis. In the year 2000, we plan to grow to 30 percent or more of this market," said Nelson Locke, chairman of AMSE.

"The time is right for us to merge," said Steven Baer, president of Senior Income Reverse Mortgage Corp., which was founded in 1991. "We have a mutual view of the future, to provide seniors with a product that produces cash flow and allows them to enhance their retirement years. Reverse mortgages are the right product at the right time, and we are on a very fast track to keep up with demand." Baer will continue in his present role as CEO of Senior Income, and join AMSE's board of directors.

Founded in 1990 and specializing in reverse mortgages designed for seniors, America's Senior is among the top five largest providers of reverse mortgages in the nation and is the only public mortgage company focusing on the senior audience. In 1999, America's Senior expects to originate more than $500 million in forward and reverse mortgages and cover 39 states with representatives and/or offices throughout the Midwest and Southeast. The company has two dozen dedicated reverse mortgage specialists in the state of Florida alone.

Reverse mortgages are insured by HUD and offered by both FHA and Fannie Mae (NYSE:FNM). The concept has been endorsed by the AARP, among others, as a viable source for retirement cash flow. AMSE, whose website address is (www.valuefinancial.com), is a founding member of the National Reverse Mortgage Lenders Association (www.reversemortgage.org).

This release contains forward looking statements including, without limitation, statements relating to the company's plans, expectations, intentions and adequate resources, and are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Please refer to Item 2 of the company's Form 10SB for more disclosure about AMSE's results and projections.

For further information please visit AMSE's website at (www.valuefinancial.com) or call investor relations representative Laura Bennett at 407/425-6040.