SOURCE: Graystone Park Enterprises, Inc.

January 27, 2006 19:00 ET

Graystone Park Enterprises, Inc. Subsidiary IC Places Signs GardenGrocer.com

ORLANDO, FL -- (MARKET WIRE) -- January 27, 2006 -- Graystone Park Enterprises Inc. (OTC: GPKE) subsidiary IC Places, Inc. (www.icPlaces.com) announced today that it has signed a Letter of Intent to acquire GardenGrocer.com, of Orlando, Florida.

GardenGrocer.com is an online grocery store. The website offers visitors access to all of their grocery shopping needs without leaving home! Through its website www.GardenGrocer.com the company offers all of the name brands people use every day, including fresh meats, seafood, canned and packaged goods plus farm-fresh fruits and vegetables all available for delivery to the customer's doorstep!

GardenGrocer.com currently delivers in Florida's Lake, Orange and Seminole Counties. This includes Walt Disney World, Universal Studios Hotels, the cities of Kissimmee and the Disney built city of Celebration.

Upon acquisition IC Places will begin adding the GardenGrocer.com service to its 400 city based websites (www.icPlaces.com) one market at a time. The GardenGrocer.com services will be integrated into IC Places core offering as well as be directed to and from the IC Places websites.

"There is a great deal of synergy between our two companies," said Steven Samblis Chairman of IC Places, Inc. He went on to say, "The growing holiday trend has become Vacation Homes. When booking a family into a 3 bedroom Vacation Home with a full kitchen, one of the 1st questions asked is, 'Where is the closest Grocery store?' Now, with GardenGrocer.com we can deliver all the family's needs the morning they arrive."

Brian Coleman, founder of GardenGrocer.com said, "We see the merger as an incredible opportunity for both companies as well as for the consumer. For the family, the service saves time and money, for IC Places it allows them to offer better service and tap into an additional revenue stream not previously available and for GradenGrocer.com, it offers us unlimited access to an entirely new group of clientele."

About IC Places, Inc.

IC Places owns and operates a network of city based websites that are used by both travelers and local individuals. 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, www.icplaces.com (the namesake of the company) includes 400 City based sites targeting the 35-54 age group. The premiere site is www.icOrlando.com covering Orlando Florida and the Disney area. The three following groups of sites are planned to be launched in mid 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.(www.GPKE.com) was founded to assist the small-business entrepreneur in growing his company and reducing the pitfalls that normally stall a start-up company. Graystone plans on acquiring healthy fledgling companies in need of assistance to dramatically increase its market share. GPKE projects to acquire an additional 6-10 companies in 2006.

Graystone will maintain a percentage of each subsidiary company. With Graystone's projected aggressive growth in revenues and asset ownership, it is expecting to reach AMEX qualifications. GPKE has the knowledge and expertise to take many growth companies to the next level. In doing so, it is able to capitalize on various markets to maximize return on its investment. The GPKE dividend distribution plan puts an emphasis on bolstering shareholder value.

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.

Contact Information

  • Contact:
    Graystone Park
    Eddie Spade
    President
    561-249-4140 x 103

    Contact:
    IC Places, Inc.
    Steven Samblis
    Chairman
    321-251-5045 Ext 6001