AMERICAN SHARED HOSPITAL SERVICES DECLARES REGULAR QUARTERLY CASH DIVIDEND

San Francisco, CA, May 4, 2007 -- AMERICAN SHARED HOSPITAL SERVICES (AMEX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that its 2007 Annual Meeting of Shareholders will be held on Thursday, June 14, 2007, at 9:00 a.m. PDT at the Ritz Carlton Hotel, 600 Stockton Street, San Francisco, California.  The Board of Directors has fixed the close of business on May 1, 2007 as the record date for determination of shareholders entitled to notice of and to vote at the Annual Meeting.

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 also plans to complement these services with the Clinatron 250™ proton beam radiation therapy (PBRT) system, which has not yet been approved by the FDA.