SOURCE: Graystone Park Enterprises, Inc.

May 05, 2005 16:05 ET

Graystone Park Enterprises, Inc. Announces Spin Off to Pay Dividend While Increasing Shareholder Value

NEW YORK, NY -- (MARKET WIRE) -- May 5, 2005 -- Graystone Park Enterprises Inc. (OTC: GPKE) announces today its intention to spin off its first wholly owned subsidiary Gray Publishing & Media, Inc. Gray Publishing & Media, Inc. was founded by veteran e-publishing executive David Gray who is a pioneer in the digital distribution of academic content. His previous company, WizeUp Inc., became the world's largest digital publisher of college textbooks. Gray states, "The spin off is a perfect financing vehicle to create wealth in its established Casebriefs brand." Shareholders of GPKE will receive a dividend in the form of stock issued by the new company, which will have its own symbol and will trade as a separate entity. The company is intending on making strategic acquisitions in the media and publishing spaces.

GPKE has a number of other companies in its acquisition pipeline and intends on closing on the acquisition of Fishox Systems, Inc. shortly. Graystone's spin offs are anticipated to begin taking place over the next few months.

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. Its first subsidiary, Gray Publishing & Media, Inc. is a leader in the higher education market with regard to the digital distribution of academic content to this space. Along these lines, Gray Publishing has a strong foothold in the law student market. 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:

    Shane Jones
    Director
    Graystone Park Enterprises, Inc.
    561-249-4140 x 103