America's Senior Financial Services to Acquire Capital Funding of South Florida.

MIAMI LAKES, Fla.--(BUSINESS WIRE)--Nov. 11, 1998--"This acquisition will give us offices from one end of Florida to the other," said Nelson Locke, president of America's Senior Financial Services (OTC BB:AMSE).

The company Wednesday announced the completion of a letter of intent to acquire Capital Funding of South Florida Inc., a mortgage lender with six offices in the state and annual loan production of approximately $125 million.

The deal, when completed, will be a combination of cash and shares of AMSE stock.

"This acquisition is important to AMSE's overall strategy because Capital Funding has the ability to develop the Fannie Mae `Homekeeper for Purchase' program. They will do well with this program, it's a natural because the product is innovative and so is Capital Funding's leadership," said Locke.

George Pollis and Michael Pollis will continue in their respective roles as Capital Funding's chief executive officer and executive vice president.

Locke expects the acquisition to be completed by Dec. 31, 1998.

America's Senior Financial Services is based in Miami Lakes and specializes in reverse mortgages designed for seniors. With 11 offices in two states America's Senior originates over $200 million a year in forward and reverse mortgages. Reverse mortgages are insured by HUD and offered by both FHA and Fannie Mae. The concept has been endorsed by the AARP, among others, as a viable source for retirement cash flow. The company, whose website address is www.valuefinancial.com, is a founding member of the National Reverse Mortgage Lenders Association.

This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties which could cause actual results to differ materially.