American Shared Hospital Services Declares Quarterly Dividend
San Francisco, CA, June 19, 2006 – AMERICAN SHARED HOSPITAL SERVICES (AMEX,PCX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.0475 per common share. The dividend will be paid on July 14, 2006 to shareholders of record on July 3, 2006.
This will be the 15th cash dividend paid by AMS since the Company initiated a dividend program in 2001. Since October 2003, AMS has paid its shareholders cash dividends every quarter, and has either maintained or increased the quarterly dividend since that time.
Chairman and CEO Ernest Bates, M.D., said, "The regular cash dividend provides our shareholders a tangible reward for their confidence in AMS. We are excited by the many opportunities we see to build our business, and look forward to continuing to deliver the fruits of our efforts to them."
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.
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 Quarterly Report on Form 10-Q for the three months ended March 31, 2006, and the definitive Proxy Statement for the Annual Meeting of Shareholders to be held on June 28, 2006.