SOURCE: Grand Entertainment & Music Inc.

August 24, 2006 07:00 ET

Grand Entertainment & Music, Inc. Announces First Qbanito Royalty Check

MONTREAL -- (MARKET WIRE) -- August 24, 2006 -- Grand Entertainment & Music Inc. (PINKSHEETS: GMSC) announces that it has confirmed the delivery of its first royalty check from Tox Records. This check is from the Canadian sales of Qbanito's album "Partir."

The album "Partir" is licensed by Tox Records in the Canadian province of Quebec and is currently ranked in the top 50 best selling albums. The first royalty check is due to GEM by mid-September and will be approximately $40,000. This amount only represents limited French-Canadian album sales from April 28th through June 30th. The company is expecting another licensing check for additional funds at the end of the year, as well as additional revenues from the soon-to-be released Spanish album.

Fred Berlin, President, stated, "I am very happy to report our first real revenues from the Qbanito project. Even though the amount is not earth shattering, we feel it is significant due to the fact it only reflects album sales from such a small period of time. With the release of the Spanish album next month and further promotion throughout Europe, we are looking forward to generating larger profits and developing more revenue streams from the Qbanito project in the near future."

About Grand Entertainment & Music, Inc.

Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music company that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, the Company's multi-million dollar studios produce voice-overs and sound tracks for commercials and film, which are used on the radio, television and in theatres. Cherry Studios has produced thousands of records in its studios and has to its credit a total of 23 gold and platinum records. GEM, a pioneer in the Internet distribution and digital download field, currently owns and controls all its content and distribution rights. Having both content and distribution rights will enable the company to fulfill its mission of becoming a leading consolidator of quality music catalogues as well as a premier production, recording, publishing and Internet distribution company in the music industry.

Safe Harbor Statement

This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.

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