AMERICAN SHARED HOSPITAL SERVICES — Director's Dealing 2003

Sep 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN SHARED HOSPITAL SERVICES (AMS)
CIK: 0000744825
Period of Report: 2003-09-25

Reporting Person: AMERICAN SHARED HOSPITAL SERVICES (Director, CHAIRMAN AND CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-25	COMMON SHARES	C	50000	$0.01	Acquired	591310	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-25	OPTIONS	$0.01	C	50000	Disposed	2005-10-25	COMMON SHARES (50000)	Direct