AMERICAN SHARED HOSPITAL SERVICES DECLARES REGULAR QUARTERLY CASH DIVIDEND
San Francisco, CA, September 21, 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 October 16, 2006 to shareholders of record on October 2, 2006.
Chairman and CEO Ernest Bates, M.D., said, "This quarterly cash dividend is the latest sign of our confidence in AMS' future. The Company continues to generate cash even as we invest in new technologies and services to dramatically expand our growth opportunity. By standing ready to provide a full range of treatment simulation and planning equipment and software as well as the latest technology solutions for radiation oncology delivery, we believe we have positioned the Company for continued success in the years to come."
This will be the 16th 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.
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 Form 10-Q for the three months ended March 31, 2006 and June 30, 2006, and the definitive Proxy Statement for the Annual Meeting of Shareholders on June 28, 2006.