AMCE American Learning (MM)

American Claims Evaluation, Inc. (NASDAQ:AMCE) announced revenues of $1,139,947 and a net loss of $481,232 ($.10 net loss per share) for the year ended March 31, 2005 as compared to revenues of $1,190,921 and a net loss of $474,586 ($.11 net loss per share) for the year ended March 31, 2004. Revenues decreased as a result of a reduction in cases referred to the Company for vocational rehabilitation services. -0- *T Three Months Ended Year Ended --------------------- ----------------------- 03/31/05 03/31/04 03/31/05 03/31/04 ---------- ---------- ----------- ----------- (Unaudited) Revenues $281,296 $290,849 $1,139,947 $1,190,921 Operating loss (149,965) (170,388) (605,214) (561,759) Loss before income tax expense (102,342) (149,705) (477,232) (468,586) Net loss $(103,342) $(150,705) $(481,232) $(474,586) Net loss per share - basic $(0.02) $(0.04) $(0.10) $(0.11) ========== ========== =========== =========== Net loss per share - diluted $(0.02) $(0.04) $(0.10) $(0.11) ========== ========== =========== =========== Weighted average shares - basic 4,859,800 4,259,800 4,789,800 4,259,800 Weighted average shares - diluted 4,859,800 4,259,800 4,789,800 4,259,800 *T American Claims Evaluation, Inc. also announced the addition of Joseph Looney to its Board of Directors. Mr. Looney was also appointed a member of the Company's Audit Committee and will serve as the Company's "audit committee financial expert," as defined in regulations adopted pursuant to the Sarbanes-Oxley Act of 2002. Mr. Looney has been the Chief Financial Officer and Secretary of Astrex, Inc., a distributor of electronic components since 2002. From 1996-2002, he was the Chief Financial Officer, V.P. of Finance and Assistant Secretary of Manchester Technologies, Inc., a network integrator and reseller of computer products. From 1984-1996, he was employed by the accounting firm of KPMG LLP. He is a Certified Public Accountant and has a B.A. from Queens College, City University of New York and an M.S. from Long Island University. Since 1996, Mr. Looney has also been an Adjunct Professor of Accounting and Business Law at Hofstra University. American Claims Evaluation, Inc., through its wholly owned subsidiary, RPM Rehabilitation & Associates, Inc., offers a full range of vocational rehabilitation and disability management services. For further information contact: Gary J. Knauer, Chief Financial Officer, American Claims Evaluation, Inc., One Jericho Plaza, Jericho, NY 11753; telephone number (516) 938-8000.