Ag-0 atoms were produced via the electron capture of Ag+ ions in gamma-irradiated solid solutions of ethanol and MTHF at 77 K. The 2-dimensional time-resolved fluorescence spectra together with the steady-state fluorescence spectra and excitation spectra were measured by photoexcitation of Ag-0 produced in the gamma-irradiated solid solutions. The steady state measurements have revealed the existence of two main emission bands at nearly 500 and 580 nm. The intensity of the 500 nm band increased and that of the 580 nm band concomitantly decreased with increasing concentration of Ag+ in both solutions. The time-resolved observation has shown that the 500 nm band consists of three components of different lifetimes (tau). The main component with tau similar to 1 mu s is attributed to the exciplex (Ag-0. Ag+)*, the one with tau similar to 2 mu s, to the similar exciplex which is weakly coupled to solvent molecules, and the third one with tau similar to 3 ns, to Ag-0* trapped in a large cavity where Ag-0 scarcely interacts with solvent molecules. The 580 nm band grows at about 0.5 - 1 mu s and decays with a long Lifetime, i.e., about 50 mu s in ethanol or 40 mu s in MTHF. The band is attributed to the exciplex (Ag-0. L-n)*, where L-n denotes n solvent molecules.