For more information
Ernest A. Bates, M.D., Chairman and CEO
email: eabates@ashs.com

American Shared Hospital Services
Two Embarcadero Center, Suite 410
San Francisco, CA 94111

Gamma Knife Perfexion System Supplied by American Shared Hospital Services Begins Treating Patients at PeaceHealth Sacred Heart Medical Center at RiverBend

San Francisco, CA, January 16, 2015 -- AMERICAN SHARED HOSPITAL SERVICES (NYSE MKT:AMS),a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that physicians have begun treating patients with the Gamma Knife® Perfexion™ system AMS supplied to PeaceHealth Sacred Heart Medical Center at RiverBend, Springfield, Oregon.

AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "This Perfexion system, our 28th new Gamma Knife site, makes it possible for patients at PeaceHealth Sacred Heart Medical Center to benefit from this advanced therapeutic technology. We are pleased to offer the latest advances in stereotactic radiosurgery to cancer patients throughout the Willamette Valley."

About Gamma Knife Perfexion

The Gamma Knife Perfexion, manufactured by Elekta, maintains full clinical compatibility with the classic Gamma Knife and is supported by efficacy and outcome data from 600,000 treated patients worldwide and thousands of peer-reviewed scientific articles, making it a proven choice for radiosurgery of the brain. Elekta estimates that the fully automated and efficient single push-button approach can save 3-5 working weeks of physician time per year at an average Gamma Knife center.

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 equipment, 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 CenturySM concept. AMS owns a common stock investment in Mevion Medical Systems, Inc., developer of the compact MEVION S250™ Proton Therapy System.

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 and radiation therapy businesses, the risks of developing The Operating Room for the 21st Century program, and the risks of investing in a development-stage company, Mevion Medical Systems, Inc., and the risks of the timing, financing, and operations of the Company’s proton therapy business . 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 and Form 10-K/A for the year ended December 31, 2013, the Quarterly Report on form 10-Q for the quarter ended March 31, 2014, the Quarterly Report on Form 10-Q and Form 10-Q/A for the quarter ended June 30, 2014, and the Quarterly Report on form 10-Q for the quarter ended September 30, 2014, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 10, 2014.

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