EXHIBIT 99.1



                        AMERICAN CLAIMS EVALUATION, INC.
                   REPORTS FOURTH QUARTER AND YEAR END RESULTS


JERICHO,  NY, June 18, 2003:  American  Claims  Evaluation,  Inc.  (NASDAQ:AMCE)
announced  revenues of $1,197,700  and a net loss of $670,834 ($.16 net loss per
share) for the year ended March 31, 2003. By  comparison,  revenues for the year
ended March 31, 2002 were  $1,260,913  with net  earnings of $302,839  ($.07 net
earnings per share).


                                      3 MONTHS ENDED            YEAR ENDED
                                  ---------------------   ---------------------
                                   03/31/03    03/31/02    03/31/03    03/31/02
                                  ---------   ---------   ---------   ---------
                                       (UNAUDITED)

Revenues                           $291,959    $300,634   $1,197,700  $1,260,913

Operating Loss                     (504,774)   (134,882)   (849,313)   (506,270)

Earnings (loss) before
  income tax expense (benefit)     (473,868)    357,894    (704,834)    208,839

Net earnings (loss)                (474,868)    417,894    (670,834)    302,839

Net earnings per share:
    Basic                            ($0.11)      $0.10      ($0.16)      $0.07
                                  =========   =========   =========   =========
    Diluted                          ($0.11)      $0.10      ($0.16)      $0.07
                                  =========   =========   =========   =========

Weighted average common
  shares outstanding:
    Basic                         4,259,800   4,273,500   4,259,800   4,273,500
    Diluted                       4,259,800   4,273,500   4,259,800   4,273,500

During  the  fourth  quarter  of the year  ended  March 31,  2003,  the  Company
performed its annual impairment  testing of goodwill as required by Statement of
Financial Accounting Standards No. 142, GOODWILL AND OTHER INTANGIBLE ASSETS. As
a result of this test,  the Company  concluded  the goodwill was impaired due to
its  continued   operating  losses  and  decreases  in  market   capitalization.
Specifically,  the fair value of the Company at the consolidated  level based on
its market  capitalization  was  compared to its  carrying  value.  This process
indicated that the Company's  carrying  value exceeded its fair value.  The fair
value was then allocated to all of the




Company's assets and  liabilities.  There was no excess fair value over the fair
value  allocated to the Company's net assets  indicating  that goodwill had been
impaired.  As a result,  the Company  recorded a non-cash  charge of $371,536 to
operations to reflect this impairment of goodwill.

After the recording of a net income tax benefit of $34,000, the Company does not
have the ability to carryback additional losses to prior periods. However, these
losses will be available to reduce  future  taxable  income,  subject to certain
Federal limitations.

Net earnings for the year ended March 31, 2002 included a gain of $450,069 ($.11
net  earnings per share) on the sale of IVC  Industries,  Inc.  ("IVCO")  common
stock.  The Company  received  $2.50 in cash for each share of IVCO common stock
owned as a result of the merger of IVCO and Inverness Medical Innovations, Inc.

Excluding the gain on sale of marketable securities,  the Company had a net loss
before  income tax benefit of $241,230  for the year ended  March 31,  2002.  An
income tax benefit of $94,000 was recorded to recognize the  utilization  of the
carryback of such net operating losses for tax purposes.

Except for the historical information contained herein, the matters discussed in
this press release may contain forward-looking statements that involve risks and
uncertainties.  The  Company's  actual  results may differ  materially  from the
results discussed in forward-looking statements. Factors that might cause such a
difference  include,  but  are not  limited  to,  general  economic  and  market
conditions,  the potential loss or termination of existing clients and contracts
and  the  ability  of  the  Company  to  successfully  identify  and  thereafter
consummate one or more acquisitions.

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.


                                  * * * * * * *