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

American Shared Hospital Services Awarded Contract to Supply a Gamma Knife Perfexion System to Sacred Heart Health System in Pensacola, Florida

San Francisco, CA, January 24, 2012 -- AMERICAN SHARED HOSPITAL SERVICES (NYSE AMEX:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that it has entered into a contract to supply a Gamma Knife® Perfexion™ system to Sacred Heart Health System in Pensacola, Florida. Pending regulatory approval, patient treatments on this Perfexion system are expected to begin this fall. AMS, the largest owner of Gamma Knife Perfexion systems worldwide, is placing its twelfth Perfexion system in the United States at Sacred Heart.

AMS Chairman and Chief Executive Officer Ernest A. Bates, M.D., said, "Sacred Heart is a new hospital affiliation for AMS. We are pleased to add this highly regarded institution to our growing list of Perfexion sites, and pleased that Sacred Heart is able to take advantage of AMS' creative solutions to make next-generation radiosurgery technology available to its patients. We are seeing increased opportunities to place Gamma Knife Perfexions at new and existing AMS sites both in the U.S. and internationally."

About Gamma Knife® Perfexion™

Gamma Knife Perfexion 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. According to its manufacturer, Elekta, Gamma Knife Perfexion reduces unwanted body dose to the patient by up to 100 times compared with competing technologies, which is particularly important for treatment of children and women of childbearing age, and allows for a dramatically increased treatable volume, which is expected to increase the number of patients that can benefit from Gamma Knife surgery. 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 (www.ashs.com) provides turnkey technology solutions for advanced radiosurgical and radiation therapy services. Since 1991, AMS' creative solutions have enabled its clinical partners to make the latest advances in radiation oncology available to patients at an affordable price. 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 Century® concept. AMS also is a leader in proton beam radiation therapy (PBRT), the next great growth opportunity in radiation oncology. AMS currently is developing PBRT centers in Dayton, Ohio (Kettering Medical Center), Boston (Tufts Medical Center), Orlando (Orlando Regional Healthcare) and Long Beach, California (Long Beach Memorial Medical Center), and is negotiating additional projects. AMS also owns a preferred stock investment in Mevion Medical Systems, formerly Still River Systems, developer of the compact MEVION S250 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 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., 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, 2010, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, Form 10-Q and 10-Q/A for the quarter ended June 30, 2011, and Form 10-Q for the quarter ended September 30, 2011, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 9, 2011.

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