SOURCE: Graystone Park Enterprises, Inc.

August 25, 2006 15:38 ET

Graystone Park Enterprises, Inc. Reports Subsidiary IC Places, Inc. Obtains Symbol "ICPL" to Trade Under

ORLANDO, FL -- (MARKET WIRE) -- August 25, 2006 -- Graystone Park Enterprises, Inc. (PINKSHEETS: GPKE) reports today that its first successful spin off, IC Places (icPlaces.com) has obtained the symbol of "ICPL" under which it will trade.

In 2005 Graystone acquired IC Places, Inc. (icPlaces.com) and since the acquisition has assisted the growth of IC Places, taking it from 50 to 900 city-based websites used by travelers, local individuals and businesses. GPKE has been very instrumental in the acquisition of the IT Firm "BridgerWeb" (Bridgerweb.com) and the acquisition of "Vacations of the Future," a twenty-year-old travel company. Graystone has also assisted IC Places with the signing of Multi Platinum Selling Producer Brad Daymond, Acclaimed Photographer Brian B. Hayes, and Celebrity Spokesperson Lisa Gleave.

GPKE has distributed a 1 share for 1 share (100%) dividend in its subsidiaries IC Places, Inc. (icPlaces.com) and Realco Partners, Inc. (RealcoPartners.com) to all eligible shareholders.

About IC Places, Inc.

IC Places owns and operates a network of city-based websites that are used by travelers, local individuals and businesses. The sites offer 77,000 hotels, 12,700 restaurants, 6,000 Golf Courses, Discount event tickets, Discount Car Rentals, Discount Airfare, Attraction tickets and much more. IC Places has created four distinct demographic groups of sites. The main group, icPlaces.com targets the 35-54 age group. The premiere site is icOrlando.com covering Orlando Florida and the Disney area. The three following groups of sites are planned to be launched in 2006 and will cover college kids, retired travelers and the people just graduating college and experiencing life for the first time. Upon full launch the IC Places network will own and operate over 900 international websites.

About Graystone Park Enterprises, Inc.

Graystone Park Enterprises, Inc. (GPKE.com) was founded to assist the small-business entrepreneur and their company in reducing the pitfalls that would normally stall a start-up or midsize company's growth. Graystone plans on acquiring companies that are in need of assistance, in order to dramatically increase its market share. Graystone will maintain a percentage of each subsidiary company. The GPKE Management Team has the knowledge, expertise, and resources to take many companies to the next level. In doing so, it is able to capitalize on various markets in order to maximize the return on its investment. The GPKE dividend distribution plan puts an emphasis on bolstering shareholder value through its sizeable equity dividends in each of its subsidiary companies.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Graystone Park Enterprises, Inc. and may differ materially from these statements due to a number of factors. Graystone Park Enterprises, Inc. assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making any investment decisions.

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