American Claims Evaluation, Inc. Reports Third Quarter and Nine Months Results.

Business Editors

JERICHO, N.Y.--(BUSINESS WIRE)--Feb. 1, 2002

American Claims Evaluation, Inc. (NASDAQ:AMCE) announced revenues of $960,279 with a net loss per share of $.03 for the nine months ended Dec. 31, 2001 as compared to revenues of $832,842 with a net loss per share of $.21 for the corresponding period ended Dec. 31, 2000.

                               3 Months Ended        9 Months Ended
                                 (Unaudited)           (Unaudited)
                            12/31/01   12/31/00   12/31/01   12/31/00

Revenues                    $312,393   $286,018   $960,279   $832,842

Operating loss              (129,849)  (121,597)  (371,388)  (358,390)

Loss before provision for
 (benefit from) income taxes (77,711)  (921,253)  (149,055)  (913,311)

Net loss                     (50,711)  (921,253)  (115,055)  (917,311)

Net loss per share:
 Basic                        $ (.01)    $ (.22)    $ (.03)    $ (.21)
                              ======     ======     ======     =======
 Diluted                      $ (.01)    $ (.22)    $ (.03)    $ (.21)
                              ======     ======     ======     =======

Weighted average common
 shares outstanding:
 Basic                     4,273,500  4,273,500  4,273,500  4,273,500
 Diluted                   4,273,500  4,273,500  4,273,500  4,273,500

The Company continues its search for suitable acquisition candidates. Potential acquisitions will be evaluated based on their merits within the Company's remaining line of business, as well as other fields.

Net loss for the nine months ended Dec. 31, 2000 was a result of an impairment charge of $916,976 recorded by the Company related to its investments in IVC Industries, Inc. (NASDAQ:IVCO) common stock that was judged to have experienced an other than temporary decline in value.

Except for the historical information contained herein, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic and market conditions, the potential loss or termination of existing clients and contracts and the ability of the Company to successfully identify and thereafter consummate one or more acquisitions.

American Claims Evaluation, Inc., through its wholly-owned subsidiary, RPM Rehabilitation & Associates, Inc., offers a full range of vocational rehabilitation and disability management services.

For further information contact: Gary J. Knauer, Chief Financial Officer, American Claims Evaluation, Inc., One Jericho Plaza, Jericho, New York 11753; telephone number: [phone]