SOURCE: Graystone Park Enterprises, Inc.

December 07, 2005 09:00 ET

Graystone Park Enterprises, Inc. Reports on IC Places, Inc. Acquisition of IT Firm and New Officers

ORLANDO, FL -- (MARKET WIRE) -- December 7, 2005 -- IC Places, Inc. a wholly owned subsidiary of Graystone Park Enterprises, Inc., (OTC: GPKE), announced today that it has acquired 100% interest in the information technology firm Bridger Web of Montana.

Bridger Web (www.bridgerweb.com) is a full service IT Firm that specializes in the development of data-driven applications for improved business decision-making. Bridger clients turn to them for business-centric products that improve efficiency and enhance their bottom line.

Bridger is headed by Dr. Kevin McNew and Luke Martin. Dr. McNew holds a PhD in Economics; Luke Martin holds his Masters in Economics. As part of the acquisition Dr. McNew will take on the position of CFO and Mr. Martin has agreed to serve as CTO of IC Places.

"IC Places is a company driven by technology. Acquiring a fully functional IT firm removes many stumbling blocks tech driven companies come up against along their growth path," said Steven Samblis, Chairman of IC Places, Inc. He went on to say, "The acquisition is a step forward for us, when you combine this with the appointments of Dr. McNew and Mr. Martin to officer positions... well, it's more like a leap forward."

In Other News...

Graystone Park Enterprises, Inc.'s (OTC: GPKE) transfer agent has completed the payout of the 100% common share dividend of IC Places, Inc. Shareholders of GPKE (www.GPKE.com) will receive one share of IC Places, Inc. for every one share of GPKE owned as of the record date.

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 77,000 hotels, 2,700 restaurants, 5,000 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. Currently two of these groups have been launched. The first group is Unofficial U, aimed at the top 50 colleges in North America targeting the 18-24 age group. The premiere Unofficial U site is www.unofficialu.com/muohio for students from Miami of Ohio.

The second group is www.icplaces.com (the namesake of the company). This group includes 150 City-based sites targeting the 35-54 age group. The premiere site is www.icOrlando.com covering Orlando, Florida and the Disney area. The two final groups of sites will be launched in 2006 and will cover retired travelers and the metro generation. Upon full launch the IC Places network will own and operate 400 web sites.

ABOUT GRAYSTONE:

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. GPKE projects to acquire 2-5 companies in 2005, and 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 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:
    Graystone Park Enterprises, Inc.
    Eddie Spade
    President
    Phone: 407-386-6962
    Email: Email Contact

    IC Places, Inc.
    Steven Samblis
    Chairman
    Phone: 321-251-5045 x 6001
    Email: Email Contact

    Luke Martin
    Bridger Web
    CTO
    Phone: 407-574-5827
    Email: Email Contact