AMERICAN SHARED HOSPITAL SERVICES TO WITHDRAW PACIFIC EXCHANGE LISTING, RETAINS AMERICAN STOCK EXCHANGE LISTING
San Francisco, CA, February 28, 2007 -- AMERICAN SHARED HOSPITAL SERVICES (AMEX:AMS), today announced plans to withdraw the listing of its common stock from NYSE Arca, Inc., formerly the Pacific Exchange. American Shared Hospital Services’ common stock will continue to be listed on the American Stock Exchange.
American Shared Hospital Services has decided to withdraw its listing from NYSE Arca, Inc. to streamline operations and eliminate duplicative administrative requirements inherent with dual listings. The withdrawal is expected to be effective within the next month.
American Shared Hospital Services does not believe that withdrawing its listing from NYSE Arca, Inc. will have any impact on the liquidity of its stock. NYSE Arca will continue to trade American Shared Hospital Services stock on an unlisted trading privilege basis.
About AMS
American Shared Hospital Services provides turnkey technology solutions for advanced radiosurgical and radiation therapy services. AMS is the world leader in providing Gamma Knife radiosurgery services, a non-invasive treatment for malignant and benign brain tumors, vascular malformations and trigeminal neuralgia (facial pain). The Company also offers the latest IGRT and IMRT systems, as well as its proprietary Operating Room for the 21st Century® concept. Through its equity investment in Still River Systems, AMS plans to complement these services with the Clinatron-250™ proton beam radiation therapy (PBRT) system, which has not yet been approved by the FDA. For more information, visit www.ashs.com.
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 developing its IMRT and The Operating Room for the 21st Century® programs, and the risks of investing in a development-stage company, Still River Systems, Inc., without a proven product. 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, 2005, the Form 10-Q for the three months ended March 31, 2006, June 30, 2006, and September 30, 2006, and the definitive Proxy Statement for the Annual Meeting of Shareholders on June 28, 2006.