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American Shared Hospital Services` 12th Gamma Knife Center Opens at OSF Saint Francis Medical Center in Peoria (Business Wire)...OSF Saint Francis is American Shared`s third Gamma Knife unit for non-invasive brain surgery procedures to open in 2001.......American Shared remains the leader in the ownership of non-invasive Gamma Knife radiosurgery units and continues to extend the Gamma Knife as the surgical alternative of choice for certain small-to-medium sized intracranial malignant and benign brain tumors, vascular malformations and trigeminal neuralgia....- May 17 4:03 PM ET


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Website: http://biz.yahoo.com/bw/010517/0414.html

Posted on: 05/17/2001

"Yahoo - American Shared Hospital Services' 12th Gamma Knife Center Opens at OSF Saint Francis Medical Center in Peoria"
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Thursday May 17, 4:03 pm Eastern Time

Press Release

American Shared Hospital Services' 12th Gamma Knife Center Opens at OSF Saint Francis Medical Center in Peoria

SAN FRANCISCO--(BW HealthWire)--May 17, 2001--AMERICAN SHARED HOSPITAL SERVICES (AMEX:AMS - news; PCX:AMS), www.ashs.com, the leading provider of Gamma Knife radiosurgery services, announced today that its 12th Gamma Knife unit opened and patient treatments began this week at OSF Saint Francis Medical Center in Peoria, Illinois ("OSF Saint Francis").

OSF Saint Francis is American Shared's third Gamma Knife unit for non-invasive brain surgery procedures to open in 2001. Earlier this month, the Company's 11th Gamma Knife unit began treating patients in Jackson, Mississippi.

American Shared remains the leader in the ownership of non-invasive Gamma Knife radiosurgery units and continues to extend the Gamma Knife as the surgical alternative of choice for certain small-to-medium sized intracranial malignant and benign brain tumors, vascular malformations and trigeminal neuralgia. The Company's strong same unit revenue growth of 17% during the first quarter of 2001 reflects the broad acceptance within the medical community of the clinical benefits of non-invasive Gamma Knife surgery.

Commenting on the opening, Craig K. Tagawa, Chief Operating and Financial Officer of American Shared said, "We are pleased to be able to place the Gamma Knife at OSF Saint Francis Medical Center, the only Illinois hospital outside of Chicago to offer this highly effective, non-invasive treatment."

"The Gamma Knife is a significant addition to the radiosurgery services already offered at OSF Saint Francis," said radiation oncologist James McGee, M.D., co-director of the medical center's Gamma Knife Center. "With the addition of the Gamma Knife, we have developed a truly comprehensive program in treating brain disorders."

Neurosurgeon and Gamma Knife Center co-director William Olivero, M.D. noted, "OSF Saint Francis is a major teaching affiliate of the University of Illinois. By adding experience with the Gamma Knife, our resident physicians will have an even more complete educational experience that will, of course, benefit their future patients."

About the Gamma Knife

The Gamma Knife is a stereotactic radiosurgical device manufactured by Elekta AB of Sweden (Stockholm Stock Exchange: ETKA). The Gamma Knife treats certain malignant and benign brain tumors, vascular malformations and trigeminal neuralgia 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 (www.ashs.com)

American Shared Hospital Services (AMEX: AMS - news) is a medical services company, with interests in radiosurgery services (through its 81% interest in GK Financing LLC) and its program for The Operating Room for the 21st Century(sm).

In addition to the Company's newest Gamma Knife unit at OSF Saint Francis Medical Center in Peoria, Illinois, the Company's Gamma Knife centers are currently in operation at: Central Mississippi Medical Center in Jackson, MS, USCF Medical Center in San Francisco, CA, Hoag UCI Gamma Knife Center in Newport Beach, CA, Southwest Texas Methodist Hospital in San Antonio, TX, Yale Gamma Knife Center in New Haven, CT, Kettering Medical Center in Dayton, OH, New England Medical Center in Boston, MA, University of Arkansas for Medical Sciences in Little Rock, AR, Froedtert Memorial Lutheran Hospital in Milwaukee, WI, JFK Medical Center in Edison, NJ, and Sunrise Hospital and Medical Center in Las Vegas, NV.

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.


Contact:
     American Shared Hospital Services
     Ernest A. Bates  M.D., 415/788-5300
     e.bates@ashs.com
           or
     OSF Saint Francis Medical Center
     Chris Lofgren, 309/655-2000 (Public Relations)
     chris.lofgren@osfhealthcare.org
           or
     VMW Corporate & Investor Relations
     Sylvia A. Dresner, 212/616-6161 (Senior VP)
     info@vmwcom.com

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