American Shared Hospital Services Appoints Vice President-Sales.

Business Editors and Health/Medical Writers

SAN FRANCISCO--(BW HealthWire)--April 19 2001

American Shared Hospital Services (AMEX:AMS)(PCX:AMS), the world leader in providing Gamma Knife radiosurgery services, today announced the appointment of Kimberly Sanchez, vice president of Sales.

Ms. Sanchez rejoins American Shared from General Electric Medical Systems, where she served as account sales manager, Diagnostic Imaging division. During her tenure at GE, Ms. Sanchez drove significant sales growth in her assigned region, achieving an annual sales growth of 91% in 2000.

Ms. Sanchez served in various sales capacities with American Shared between 1992 and 1998, last serving as assistant vice president of Sales and Marketing. She was responsible for fee-for-service diagnostic imaging contracts in an 11 state territory.

Craig K. Tagawa, chief operating and financial officer, said, "Ms. Sanchez brings an exceptional track record of increasing sales and revenue to American Shared. Her extensive experience in capital equipment sales, as well as fee-for-service contract sales, positions her to make immediate and significant contributions toward achieving the aggressive growth goals of our subsidiary, GK Financing.

"I can't think of anyone with greater experience in fee-for-service contracts, which make up the majority of our contracts. Ms. Sanchez also has solid experience working with and selling to large university medical institutions and health systems. We expect her demonstrated successes in those environments to be an asset in securing new Gamma Knife contracts."

About the Gamma Knife

The Gamma Knife is a stereotactic radiosurgery device manufactured by Elekta AB of Sweden (Stockholm Stock Exchange:EKTA). The Gamma Knife treats certain vascular malformations and brain tumors without invasive surgery. It uses three dimensional computer modeling to target a high dose of radiation at abnormal tissue. More than 150,000 patients worldwide already have been treated with Gamma Knife units.

About American Shared Hospital Services

American Shared Hospital Services is a medical services company with interests in radiosurgery services (through its 81% interest in GK Financing, LLC), Internet-based information services, and its program for The Operating Room for the 21st Century(SM). Headquarters are in San Francisco.

Safe Harbor Statement

This press release may be deemed to contain certain forward-looking statements with respect to the financial condition, results of operations and future plans of American Shared Hospital Services, which involve risks and uncertainties including, but not limited to, the risks of the Gamma Knife business, the risks of the Internet-based information business, and the risks of developing The Operating Room for the 21st Century. Further information on potential factors that could affect the financial condition, results of operations and future plans of American Shared Hospital Services is included in the filings of the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2000, and its definitive Proxy Statement dated April 12, 2001 for the Annual Meeting of Shareholders to be held on May 17, 2001, which is being mailed on or about April 23, 2001 to shareholders of record on March 31, 2001.