SOURCE: American Seniors Association Holding Group, Inc.

December 10, 2010 15:00 ET

American Seniors Association Holding Group, Inc. Announces Spin-Off of Subsidiaries and Related Debt

ATLANTA, GA--(Marketwire - December 10, 2010) - American Seniors Association Holding Group, Inc. (PINKSHEETS: AMSA) announced today it had filed for FINRA approval of the spin-off of the company's two wholly owned subsidiaries, Kiosk Food Solutions, Inc and Eddy Chan's, Inc. in accordance with an agreement signed in December 2009. The spin-offs will also include the long term convertible debt associated with the transaction. Upon the anticipated approval from FINRA, all privately held shares of the subsidiaries will be distributed to the shareholders of ASF Group prior to the merger.

The company also announced it had issued thirty million shares of AMSA common stock to Twenty First Century Alliance Trust to retire certain past due long-term debt obligations and for past and present services provided by the Trust and its affiliates.

Stuart Barton, AMSA's President, said, "Century has been an invaluable ally and an integral part of the growth of American Seniors and their ongoing efforts are critical to the success of our endeavors. As part of our obligations under the terms of the recently announced agreement with the 60 Plus Organization, we have the enormous task of contacting their over five million member households. They continue to be an integral ally as we identify and negotiate with potential funding partners for this task and they recently evidenced their commitment to our success by providing an additional $146,000 in short term financing to AMSA. We look forward to their continued assistance and support."

Mr. Barton also noted, "We wish to emphasize that with the successful divestiture of the subsidiaries and their related debt and the elimination of the Century debt, American Seniors Association Holding Group, Inc. will be virtually free of all long term debt going forward. This is an important foundation for our further expansion."

Please email or call 1-800-951-0017 to speak with an AMSA representative about any questions or comments you may have regarding the American Seniors Association or American Seniors Association Holding Group, Inc.

About American Seniors Association Holding Group, Inc.

American Seniors Association Holding Group, Inc, based in Atlanta, Georgia, operates under the trade name of the American Seniors Association. The American Seniors Association is a conservative oriented membership organization that offers discounted products and services to Its members throughout the United States. These services and products are offered by national and global partners such as CVS Pharmacy, Liberty Mutual Insurance, Bankers Fidelity, Hertz and Penske among others. Please visit for additional information or to become a member.

The Company also has two wholly-owned subsidiaries, Kiosk Food Solutions, Inc. and Eddy Chan's, Inc., which it has previously announced will be spun off via a share distribution per the merger agreement with ASF Group, Inc.

Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

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