SOURCE: Graystone Park Enterprises, Inc.

July 21, 2005 06:30 ET

Graystone Park Enterprises, Inc. Announces the Completion of an Agreement to Acquire 100% of IC Places.com, Inc.

NEW YORK, NY -- (MARKET WIRE) -- July 21, 2005 -- Graystone Park Enterprises Inc. (OTC: GPKE) announced today that it has signed an agreement with IC Places.com, Inc. of Kissimmee, Florida (Flagship Web Site: www.ICDiz.com), to acquire it as a 100% wholly owned subsidiary.

Under the agreement Graystone (GPKE) will secure the funding needed to launch all of the 400 IC Places web sites and administer the filing requirements to register IC Places as its own public company.

About IC Places, Inc.

IC Places owns and operates a network of city-based web sites that are used by both travelers and local individuals. The sites offer 11,000 hotels, 2,700 restaurant, 2,000 golf courses, discount event tickets, discount car rentals, discount airfare, attraction tickets and much more.

IC Places has created four distinct demographic groups of web sites. Currently, two of these groups have been launched. The first group is UnofficialU.com, aimed at college students, aged 18-24, nationwide and specifically targeting the top 50 colleges in North America. The vision of Unofficial U is to entertain and inform college students, along with providing great travel packages for spring break and summer vacation. The premiere Unofficial U web site is www.unofficialu.com/OHIOSTATE for students on the campus of Ohio State.

The second web site is www.icplaces.com (the namesake of the company). This web site includes 150 city-based web sites targeting the 35-54 age groups. The premiere icplaces.com web site is www.icdiz.com covering Orlando, Florida, and the Disney area.

The two final groups of sites which will be launched in September of 2006 will cover retired travelers aged 65 and up, and the final site will focus on the recent college graduates aged 25-34. Upon full launch, the IC Places network will own and operate 400 web sites.

Looking to the future

In October of 2005 IC Places plans to launch an Independent Travel Consultant (ITC) program whereby individuals with an entrepreneurial sprit can own their own home-based travel business for a small one-time fee. The ITC program is web based. The program is a self paced environment to allow success for both full-time and part-time Consultants.

The IC Places Difference

With more online travel companies trying to be everything to everybody in the world and using call centers staffed by people on the other side of the world ... IC Places is stepping up to change the game. All IC Places web sites have a very distinct target market that is divided up by location and demographics. This means that if a client wants to travel to Walt Disney World in Orlando, Florida, they will visit www.icdiz.com a singular site dedicated to the Disney area. Upon launch of the ITC program in October of 2005 visitors will even be able to phone IC Places and speak to a Travel Consultant that lives in the Disney area. These ITCs are real people that live and breathe the cities they live in.

"When we decided to focus on each city as an individual entity it all fell into place," said Shawn Conti, President of IC Places Inc. He went on to say, "Who better to guide you to the best hotel or restaurant in New York City, a native New Yorker who lives in and loves his city, or somebody that has never been there but is reading about it off their computer screen for the first time when you phone them?"

"We have ITCs waiting to join us in October who live and are native to Orlando. Some of these people started working at Disney while still in high school. They would spend two or three days a week at the theme parks during the summer learning all about the area and attractions. They will give our visitors a real 'insider approach' to enjoying that city. Now imagine that on a global scale, personal knowledge of what a city has to offer leads to the ultimate guest experience!"

About Graystone Park Enterprises, Inc.

Graystone Park Enterprises, Inc. 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 middle stage companies in need of assistance to dramatically increase its market share. Graystone projects to acquire 5-10 companies in 2005, and an additional 8-12 companies in 2006. Graystone will maintain a substantial percentage of each subsidiary company after the subsidiary begins trading under its own symbol. Graystone expects its revenues, and the value of its equity positions to be in the double-digit millions by the end of this year. With Graystone's projected aggressive growth in revenues and asset ownership, it is expecting to be AMEX qualified in 2006. 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:
    Eddie Spade
    President
    Graystone Park Enterprises, Inc.
    561-249-4140 x 103

    Contact:
    Shawn Conti
    President
    IC Places, Inc.
    866-875-0724