ACHES Insurance Programs Endorsed by National Baptist Convention USA.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 16, 1996--African American Church Health & Economic Services Inc. ("ACHES"), Monday announced that its programs were overwhelmingly endorsed by the National Baptist Convention, USA Inc. ("NBC,USA") at NBC,USA's annual national convention, which met in Orlando,

The convention was attended by over 50,000 members. Total membership in NBC,USA is in excess of 8.2 million church members, making it the world's largest African American church organization.

ACHES' mission and programs were explained to the General Assembly of the convention by Dr. Amos C. Brown, pastor of Third Baptist Church in San Francisco. NBC,USA's endorsement of ACHES then was announced to the Assembly during his annual address by Dr. Henry J. Lyons, president of NBC,USA.

Dr. Lyons said, "ACHES is a very vital program, which provides quality healthcare for African Americans. I will rely on Dr. Brown to bring the ACHES program to our member churches. The ACHES concept definitely is in line with my emphasis on economic empowerment for African Americans and on delivering a more abundant life for the people we serve."

ACHES is a broker for Medicare HMO coverage and for individual and group medical, dental and life insurance, primarily to members of African American church congregations and other community groups. ACHES' programs emphasize health education, wellness and preventative medical care.

ACHES has pledged to return 51% or more of its profits to a non-profit ACHES Foundation, which will fund community programs and services. The Foundation will be managed by church and community leaders.

In New York, ACHES offers U.S. Healthcare's Medicare HMO coverage. In California, ACHES offers coverages through Blue Cross of California, including the Senior CaliforniaCare Medicare HMO plan.

Commenting on the NBC,USA endorsement, Ernest A. Bates, M.D., chairman of ACHES, said: "We are honored that a major African American church organization like the National Baptist Convention, USA Inc. recognizes the potential for healthcare, economic and other benefits to its community which are possible through ACHES' programs. Coordinating closely with Dr. Amos Brown, we will work intensively with church leaders and local congregations to assure the benefits of ACHES are available to them as soon as possible."

ACHES is a subsidiary of San Francisco-based American Shared Hospital Services (AMEX, PSE:AMS for common stock; AMEX:AMS.A for 16 1/2% Notes). ACHES' California activity is based in San Francisco. In New York, ACHES is known as "ACHES Insurance Brokerage."

CONTACT: African American Church Health & Economic Services

Inc., San Francisco

Richard Magary, 800/224-3714