SOURCE: Graystone Park Enterprises, Inc.

July 13, 2005 06:30 ET

Graystone Park Enterprises, Inc. Finalizes Initial Steps to Acquire IC Places, Inc.

ORLANDO, FL -- (MARKET WIRE) -- July 13, 2005 -- Graystone Park Enterprises Inc. (OTC: GPKE) announced today that it has finalized its intent to acquire IC Places, Inc. of Kissimmee, Florida. Upon the acquisition, Graystone will create a plan for securing capital to incubate IC Places growth pattern. This will involve the creation of a multi-stage capital formation plan followed by registering IC Places as its own publicly traded entity.

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 web sites have been launched. The first web site 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.

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 healthy fledgling 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 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 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.
    Shawn Conti
    President
    866-875-0724